Press release
Intracranial Pressure Monitors Market By Key Trends in 2023
Despite of being hindered by these factors, the global market for intracranial pressure monitors has a bright future ahead of it. TMR expects this market to expand at a CAGR of 6.30% during the period from 2015 to 2023, with market opportunity swelling from US$0.94 bn in 2014 to US$1.63 bn by the end of the forecast period.
Looking forward, untapped markets in emerging economies are likely to offer lucrative opportunities to participants. Entering into strategic partnerships with local players will help major companies to seize better shares in the market.
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Intracranial Pressure Monitors Gain Impetus from Rising Incidence of Traumatic Injuries
“The frenzied lifestyle of people across the world has increased the frequency of traumatic injuries and augmented the prevalence of strokes, thereby escalating the demand for intracranial pressure monitors,” says an analyst at TMR. Cranial injuries and head trauma are mostly caused by road and industrial accidents, which lead to death or permanent disability for hundreds of individuals every year. Elevated intracranial pressure causes around 2 casualties in every 10 cases of head injuries across the world. The increasing reports of brain injuries in adults as well as pediatric patients have also fueled the demand for intracranial pressure monitoring significantly.
Strokes are another prominent factor that has escalated the application of these pressure monitors. Large hemispheric strokes increase the cerebral perfusion pressure and enhance the mean flow velocity of the middle cerebral arteries in the patient, raising the intracranial pressure. The growing prevalence of high blood pressure among people across the world has augmented the frequency of strokes, thereby boosting the demand for intracranial pressure monitors substantially.
Hitherto, the risk associated with the invasive nature of intracranial pressure monitors, such as bacterial infections, hampered their adoption across the world. The reports about cerebrospinal fluid infection, which sometimes leads to fatal consequences, have limited the application of intracranial pressure monitors significantly.
Despite North America’s Claim on Leadership, Asia Pacific to Emerge Prominently
Currently, North America holds the largest share in this market and will continue to lead over the next few years. However, the future of this market lies in Asia Pacific. The rapid increase in geriatric population, rising prevalence of cerebrovascular disorders, and escalating healthcare expenditure in this region together are likely to offer rewarding opportunities to participants in the coming years.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. We have an experienced team of Analysts, Researchers, and Consultants, who us e proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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