Intracranial Pressure Monitoring Device Market Outlook
The global Intracranial Pressure Monitoring Device market was valued at USD 549.4 billion in 2020 and is projected to reach USD 897.4 billion by 2028, expanding at a CAGR of 6.8% during the forecast period. Intracranial Pressure Monitoring Device is used in applications such as traumatic brain injury, intracerebral hemorrhage, meningitis, subarachnoid hemorrhage, and other applications. The demand for intracranial pressure monitoring device is driven by the growing awareness about ICP monitoring, rising incidence of neurovascular disorders.
Intracranial Pressure (ICP) monitoring is used for determining the pressure inside the brain and cranium, caused by trauma, head surgery, severe brain injury, brain infection, or other diseases. Intracranial Pressure (ICP) monitoring is a function of volume and accordance between every component of intracranial compartment. The skull is a semi rigid box, made of brain, blood, and cerebrospinal fluid (CSF), which are lightly fitted for cresting a mildly positive pressure called as ICP.
Intracranial pressure monitoring devices are used for determining the pressure inside the brain and cranium caused by trauma, brain infection, or other diseases. The market in regions such as Asia Pacific and North America is projected to grow, due to increasing research activities along with well-structured health care system.
There is a small space left for swelling, as the brain is covered by the skull. When the brain swells, pressure increases inside the skull. Higher pressure than normal results into brain damage. 0-10 mm Hg is normal ICP and anything more than 20mm Hg is fatal. ICP monitoring has substantial diagnostic and post-operative importance for patients with cranial injury cases such as hydrocephalus, trauma, stroke, or as a result of neurosurgery.
Intracranial Pressure Monitoring Device Market Dynamics
Increasing initiatives taken by governments and other regulatory bodies for research, increasing adoption of intracranial pressure monitoring devices, and rising R&D activities are the key trends in the market. The global intracranial pressure monitoring device market is expected to expand at a significant CAGR during the forecast period, due to increasing occurrence of neurological disorders and traumatic accidents as well as rising government initiatives and encouragement.
Technological advancements and rising development in the global medical devices market are expected to drive the global intracranial pressure monitoring device market. People suffering from brain tumor or hydrocephalous need intracranial pressure monitoring. There are different types of ICP devices such as anatomic site of placement and the manner in which the pressure record is transduced. ICP monitoring techniques includes invasive and non-invasive techniques.
Non-invasive techniques include imaging modalities such as tympanic membrane displacement, MRI, optic nerve sheath diameter, and Transcranial Doppler ultrasonography. Invasive techniques includes lumbar puncture. In North America, more than 1.75 million traumatic brain injuries occur annually. ICP monitoring devices aid specialists to save lives of these patients with appropriate treatment.
Growing significance of intracranial pressure monitoring devices is expected to boost the market in the coming years. Prevention of permanent neurological damage, due to use of intracranial pressure monitoring devices, leads to significant growth in the market. Increased intracranial pressure causes death in head injury patients and neurosurgical patients.
Increasing government initiatives in the research and development sector of medical devices is anticipated to propel the intracranial pressure monitoring devices market. Governments of many countries are spending large amounts in the development of technologically advanced systems, which is expected to drive the market. Different countries are taking several initiatives for generating awareness about head injuries, which fuels the market. In emerging economies, governments are constantly increasing the expenditure for improving patient-centered care, safety, and efficiency, which is estimated to drive the market.
Rapid technological advancement leads to the evolution of multiple modality devices, which is projected to boost the market over the forecast period. Latest techniques includes telemetric ICP probes, which are inserted in the brain for monitoring ICP in many neurosurgical procedures. Innovative ICP monitoring devices are removing restrictions of devices such as leveling and de-bubbling of fluid-filled systems and spontaneous shift in baseline pressure. Advanced types of monitors aid surgeons for monitoring patients closely and give efficient treatment, which is estimated to drive the market in the coming years.
Intracranial Pressure Monitoring Device Market Segmental Outlook
Based on types, the Intracranial Pressure Monitoring Device market is divided into equipment and service. The equipment segment held 85% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period. In terms of revenue, the equipment and service segments were valued at USD 469.2 Mn and USD 80.2 Mn, respectively, in 2020. Furthermore, the service segment is anticipated to expand at a lucrative CAGR of 6.2% between 2021 and 2028. The Y-o-Y growth of the service segment was improved by 2.73% due to the onset of COVID-19 pandemic between 2020 and 2021.
On the basis of by technique, the market is divided into invasive and non-invasive. The invasive segment held 86% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period. In terms of revenue, the invasive and Non-invasive segments were valued at USD 473.5 Mn and USD 75.9 Mn, respectively, in 2020.
Furthermore, the Non-invasive segment is anticipated to expand at a lucrative CAGR of 7.5% between 2021 and 2028. The Y-o-Y growth of the Non-invasive segment was improved by 3.92% due to the onset of COVID-19 pandemic between 2020 and 2021.
In terms of applications, the Intracranial Pressure Monitoring Device market is classified as traumatic brain injury, intracerebral hemorrhage, meningitis, subarachnoid hemorrhage, idiopathic intracranial hypertension, and others. The traumatic brain injury segment held 41% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period.
In terms of revenue, the traumatic brain injury and intracerebral hemorrhage segments were valued at USD 224.3 Mn and USD 100.8 Mn, respectively, in 2020. Furthermore, the intracerebral hemorrhage segment is anticipated to expand at a lucrative CAGR of 6.8% between 2021 and 2028. The Y-o-Y growth of the idiopathic intracranial hypertension (IIH) segment was improved by 2.35% due to the onset of COVID-19 pandemic between 2020 and 2021.
Intracranial Pressure Monitoring Device Market Regional Outlook
On the basis of regions, the Intracranial Pressure Monitoring Device market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America segment held 38% value share of the market in 2020. The segment is projected to account for the largest share of the market during the forecast period.
In terms of revenue, the North America and Europe segments were valued at USD 210.2 Mn and USD 163.5 Mn, respectively, in 2020. Furthermore, the Europe segment is anticipated to expand at a lucrative CAGR of 7.0% between 2021 and 2028. The Y-o-Y growth of the Middle East & Africa segment was impeded by -0.57% due to the impact of COVID-19 pandemic between 2020 and 2021.
Key Benefits for Industry Participants & Stakeholders
- In-depth analysis of the global Intracranial Pressure Monitoring Device market
- Historical, current and projected market size in terms of value (USD million)
- Potential & niche segments and regions exhibiting promising growth covered
- Industry drivers, restraints and opportunities covered in the study
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Neutral perspective on global Intracranial Pressure Monitoring Device market performance
Segments
By Types
By Techniques
- Invasive
- External Ventricular Drainage (EVD)
- Microtransducer ICP Monitoring
- Non- invasive
- Transcranial Doppler Ultrasonography
- Tympanic Membrane Displacement (TMD)
- Optic Nerve Sheath Diameter
- MRI/CT
- Fundoscopy (papilledema)
By Applications
- Traumatic Brain Injury
- Intracerebral Hemorrhage
- Meningitis
- Idiopathic Intracranial Hypertension
- Subarachnoid Hemorrhage
- Others
By Regions
- North America
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Europe
- Germany
- France
- Italy
- U.K.
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- GCC
- Turkey
- South Africa
- Rest of Middle East & Africa
Key Market Players Profiled in the Report
Competitive Landscape
- Prominent manufacturers operating in Intracranial Pressure Monitoring Device market include Integra LifeSciences, Medtronic, Natus Medical Incorporated, Raumedic, SOPHYSA, Spiegelberg GmbH & Co. KG, B. Braun Melsungen AG, and others.
- These companies are considered as key manufacturers of Intracranial Pressure Monitoring Device based on their revenue, research & development (R&D) activities, regional presence, and supply chain management system.