Brain Monitoring Devices Market Is Poised To Grow At 7.1% From 2017 To 2024
According to Data Bridge Market Research new Market report “Global Brain Monitoring Market, By Product (Devices, Accessories), Application (TBI, Stroke, Headache, Dementia, Epilepsy, Parkinson), End-User (Hospitals, Neurological Centers & Diagnostic Centers), Geography (North America, Europe, APAC, South America, MEA) – Industry Trends & Forecast to 2024” is projected to reach USD 2.0 billion by 2024 from USD 1.2 billion in 2016, at a CAGR of 7.1% in the forecast period 2017 to 2024.
The new market report contains data for historic years 2014 & 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
Brain monitoring is the process of tracking the activity of various parameters associated with the functionality of the brain. These include electrical activity, blood flow & magnetic activity, pressure surrounding the brain, cerebral oxygen, saturation & anomalies such as tumors or infections. The various tools available for brain monitoring include electroencephalography(EEG), magnetoencephalography(MEG) & intracranial pressure monitors.
The increasing global incidence and prevalence of neurological disorders, growing awareness about neurodegenerative diseases, and growing incidence of traumatic brain injuries are major factors driving the market growth for brain monitoring. According to the Northern Brain Injury Association (NBIA), in British Columbia the incident rate of brain injury is approximately 60 cases per day. Also, according to Headway – the brain injury association, in U.K., there were approximately 348,934 admissions with acquired brain injury to hospital in the year 2013-2014.According to Centers for Disease Control & Prevention(CDC), stroke is the fifth leading cause of deaths in the United States, killing approximately 1,30,000 Americans each year. Also, technological advancements in brain monitoring devices are contributing to the growth the market. For instance, in October 2015, Swinburne University of Technology developed the Brain Anaesthesia Response (BAR) monitor in partnership with Cortical Dynamics Ltd. this development will enable to measure anaesthetic delivery and make adjustments as necessary during surgical procedures. This is the first Australian device that can be used to measure variations in the brain activity as anaesthesia administered to a patient has been certified by the Therapeutic Goods Administration (TGA).
Brain Monitoring Devices Market – Market Segmentation:
Global brain monitoring market is segmented on the basis of product, application, end-user and by geography.
Based on product the brain monitoring market is segmented into devices and accessories. Devices are further segmented by type and procedure. Types are sub-segmented into Electroencephalography (EEG) devices, Transcranial Doppler (TCD) devices,Magnetoencephalography (MEG), Magnetic Resonance Imaging (MRI) devices, sleep monitoring devices, Computerised Tomography (CT) devices, cerebral oximeters, Positron Emission tomography (PET) devices &Electromyography(EMG) devices.
Based on application, brain monitoring market is segmented into stroke,Traumatic Brain Injury (TBI), headache, dementia, epilepsy, Parkinson& others.
Based on end user, the brain monitoring market is segmented into hospitals, Ambulatory Surgery Centers(ASCs), ambulances, neurological centers and diagnostic centers.
Brain Monitoring Devices Market – Geographical Segmentation:
Based on geography the brain monitoring devices market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa. The geographical regions are further segmented into 24 major countries such as U.S. Canada, Mexico, Germany, France, U.K., Belgium, Switzerland, Belgium, Turkey, Japan, China, Singapore, Brazil, India, Russia, South Africa and many others. In 2017, North America is expected to dominate the brain monitoring market with 47.0% of the market share followed by Europe and APAC. However the APAC region is expected to grow at the highest CAGR in the forecast period 2017 to 2024.The market in Asia is poised to witness the highest growth, attributed to factors such as increasing aging population, availability of low-cost labor and skilled manpower, increase in disposable incomes, rising prevalence of neurodegenerative disorders, and increasing government emphasis on healthcare reforms in the region.
Brain Monitoring Devices Market – Competitive Landscape:
Some of the major players operating in this market are Nihon Kohden Corporation, Philips Healthcare, Metronic PLC, GE Healthcare, Siemens Healthcare, Natus Medical Incorporated, Compumedics Limited, Electrical Geodesics, Inc. CAS Medical Systems Inc, Advanced Brain Monitoring, B. Braun Medical, Becton, Dickinson & Company, DePuySynthes Companies, Cadwell Industries, Inc, Masimo Corporation, Elekta AB (pub), Integra LifeSciences Corporation, Rimed Inc., Yokogawa Electric Corporation, EMOTIV Inc., and Neural Analytics, among others.
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