According to a recent market study published by Growth Market Reports, titled, "Global intracranial pressure monitoring device market by types, techniques, applications, and by regions: Size, Share, Trends and Opportunity Analysis, 2018-2028", the market was valued at USD 549.4 billion in 2020 and is expected to grow at a healthy growth rate of 6.8% by the year 2028.

The global intracranial pressure monitoring device market is anticipated to grow significantly during the forecast period. Increasing initiatives taken by governments and other regulatory bodies for research, increasing adoption of intracranial pressure monitoring devices, and rising R&D activities are some of the factors contributing to market growth.

The global intracranial pressure monitoring device market has been segmented based on types, techniques, applications, and region. In terms of types, the intracranial pressure monitoring device market is categorized as equipment and service. On the basis of techniques, the market is divided into invasive and non- invasive. Based on applications, the market is categorized as traumatic brain injury, intracerebral hemorrhage, meningitis, subarachnoid hemorrhage, and other applications. By regions, the global intracranial pressure monitoring device market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

Increasing occurrence of neurovascular diseases including arteriovenous malformations (AVMs), brain aneurysm, and others are anticipated to fuel the intracranial pressure monitor market. Technological development in ICP monitor devices drives the equipment segment. Several major market players transformed the conventional device market. For instance, Camino Flex catheters was launched by Integra. This device performs multifunctional roles, which increased the opportunities of technological development for other competitors. The meningitis segment is projected to expand at a significant CAGR, owing to the imbalance between cerebral blood flow (CBF), CSF volume, and the water content of the brain parenchyma.

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As per Growth Market Reports industry analyst Divyanka Sankhe, the spread of the COVID-19 pandemic has had a serious impact on the society and overall economy of the world. The impact of COVID-19 is growing by the day and affecting the supply chain of the industries. The coronavirus pandemic is increasing uncertainty among consumers buying behavior, thus slowing the supply chain, increasing panic among customers, and reducing business confidence.

Certain discrepancies in production and supply chain are creating mild disruption across some areas in the supply chain of the intracranial pressure monitoring device market. Conversely, revenue from the intracranial pressure monitoring device market is anticipated to grow, due to its increasing demand, as it is used to monitor, evaluate, and treat neurological disorders such as hydrocephalus, traumatic brain injury (TBI), subarachnoid and intracerebral hemorrhage, ischemic stroke, and meningitis/encephalitis.

Key Takeaways from the Study

  • The market in the North America is expected to grow at a rapid pace owing to the high prevalence of neurological disorder. Several advances in technology in the intracranial pressure monitoring market, along with significant investments by key market players, are expected to boost the sales of intracranial pressure monitoring devices in North America. High adoption of advanced ICP monitoring devices and the presence of large patient pool are anticipated to significantly increase the demand for intracranial pressure monitoring devices during the forecast period.
  • The intracranial pressure monitoring device market in Europe is anticipated to grow at a substantial pace during the forecast period owing to the rising awareness about ICP monitoring along with increasing research and development activities.
  • The intracranial pressure monitoring device market in Asia Pacific is expected to grow significantly during the forest period owing to increasing R&D investments along with favorable government regulations.
  • The meningitis segment is projected to expand at a significant CAGR, owing to the imbalance between cerebral blood flow (CBF), CSF volume, and the water content of the brain parenchyma.

Report Scope

Report Metric

Details

Market Value in 2020

USD 549.4 Billion

Market Growth Rate (from 2021 to 2028)

6.8%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021 – 2028

Market Segments

Types, Techniques, Applications, and Regions.

Region Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)

Key Companies Profiled

Medtronic, Natus Medical Incorporated, Raumedic AG, Spiegelberg GmbH & Co. KG, Sophysa, Integra LifeSciences, B. Braun Melsungen AG.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience

  • Demand Side: traumatic brain injury, intracerebral hemorrhage, meningitis, subarachnoid hemorrhage, idiopathic intracranial hypertension, and among others.
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies. National Regulatory Authorities (NRA), Food and Drug Administration (FDA), World Health Organization (WHO), Public Health Service (PHS), Code of Federal Regulations (CFR), Centers for Disease Control and Prevention (CDC), National Institutes of Health (NIH), International Organization for Standardization (ISO), International Medical Device Regulators Forum (IMDRF).