Brain Monitoring Devices Market Outlook
Brain monitoring is a technology which contains the application of different devices to monitor the structure, function or pharmacology of the brain such as electrical activity, blood flow & magnetic activity, pressure surrounding the brain, cerebral oxygen, saturation & anomalies such as tumors or infections.
Monitoring brain inflammation and immune cell trafficking of the brain are essential to the study of pathogen clearance from the central nervous system.
Furthermore, in Europe it has been estimated that 35% of all disease burden is attributable to brain disorders. Moreover, Traumatic brain injury (TBI) is a major global public health problem, which recorded around 1.7 million cases annually in the USA, corresponding to approximately 0.5% of the country’s population.
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Additionally, worldwide about 5.48 million people are estimated to suffer from severe TBI each year. However, the brain related diseases are very complicated and treatment cost are too high. Currently, there are numerous types of brain monitoring devices available that combat these diseases.
Brain Monitoring Devices Market Outlook
Additionally, growing Incidence of traumatic brain injuries and increasing disorders due to lifestyle changes has also impacted the growth of the brain monitoring devices market globally. On the other hand, factors such as unfavourable reimbursement policies and high cost of complex brain monitoring devices & procedures are hampering the growth of the market. Whereas, increasing clinical trials applications and rising demand for non-invasive and minimally invasive devices are some factors creating opportunities in brain monitoring devices market.
Rising healthcare expenditure, technological advancements in brain monitoring devices, increasing Incidence and prevalence of neurological disorders are some major factors driving the growth of the brain monitoring devices market.
Brain Monitoring Devices market by End User
Based on end user, the brain monitoring devices market is segmented into hospitals, neurology centers, clinics & ambulatory surgical centers and diagnostic centers. Among these, the hospitals segment dominated the brain monitoring devices market in 2018, because hospitals are highly preferred by patients over other healthcare centers since they provide treatment, diagnosis, and surgical intervention for various disorders.
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Brain Monitoring Devices market by Geography
The brain monitoring devices market report is studied across the key countries of North America, Europe, Asia Pacific and Rest of the World.
North America dominates the market for brain monitoring, accounting for the highest market value in 2018, owing to the presence of the strong distribution and sales network of the neurodiagnostic companies, government initiatives to support technological advancement and availability of the insurance coverage for the techniques of the brain monitoring. Whereas, Asia Pacific is expected to witness the fastest growth rate during the forecast period.
Brain Monitoring Devices Market Key Players
Some key players of this market includes Compumedics Limited, GE Healthcare, Medtronic PLC, Natus Medical, Nihon Kohden Corporation, Philips Healthcare and Siemens Healthineers (A Division of Siemens Ag). Among others are Electrical Geodesics, Inc., CAS Medical Systems, Inc, Advanced Brain Monitoring, Inc., Virtual Expo group, Braintronics, Masimo, Aspect Medical Systems, Inc., Cortech solutions, Inc., Integra LifeSciences Corporation, NeuroPace and Alliance Biomedica. New product launches, research and development and mergers & acquisitions are the key strategies adopted by market players to ensure their growth in the market.
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