The global brain monitoring devices market centers around advanced technologies such as electroencephalography (EEG), magnetoencephalography (MEG), and cerebral oximeters, crucial for monitoring and diagnosing neurological conditions. These devices track electrical and neural signals in the brain, offering critical insights and aiding in detecting abnormalities. Additionally, they facilitate real-time blood flow monitoring in the brain's veins and arteries. The escalating demand for precise and immediate brain monitoring fosters market growth, presenting opportunities for manufacturers and suppliers to meet this increasing need.
Data Bridge Market Research analyses that the Global Brain Monitoring Devices Market, which was USD 6,184.12 million in 2022, is expected to reach USD 8,315.12 million by 2030 and is expected to undergo a CAGR of 7.7% during the forecast period of 2023 to 2030.
"Rising prevalence of neurological disorders drive the market growth"
The surging prevalence of neurological disorders, encompassing conditions such as epilepsy, Alzheimer's disease, Parkinson's disease, and stroke, propels the global brain monitoring devices market. The escalating burden of these disorders necessitates advanced diagnostic and monitoring tools. Manufacturers respond by developing devices that enhance diagnostic accuracy and provide real-time data for effectively managing neurological conditions. This growing demand for sophisticated monitoring solutions drives the market, creating a significant impetus for continuous innovation and development in brain monitoring devices.
What restraints the growth of the global brain monitoring devices market?
"Complex regulatory pathways hamper the market growth"
The brain monitoring devices market faces hindrances due to intricate regulatory pathways in the development and commercialization of medical devices. Navigating these complexities and obtaining approvals from health authorities pose significant challenges, potentially slowing the introduction of new products. The protracted regulatory processes can impede market growth, causing delays in bringing innovative brain monitoring devices to market and limiting manufacturers' ability to swiftly respond to the evolving demands for advanced diagnostic and monitoring solutions.
Segmentation: Global Brain Monitoring Devices Market
The global brain monitoring devices are segmented on the basis of product, procedure, and application.
- On the basis of product, the global brain monitoring devices market is segmented into electroencephalography (EEG) devices, magnetoencephalography (MEG) devices, transcranial doppler (TCD) devices, intracranial pressure (ICP) monitors, cerebral oximeters, magnetic resonance Imaging (MRI) devices, computerized tomography (CT) devices, positron emission tomography (PET) devices, sleep monitoring devices, electromyography (EMG) devices and accessories
- On the basis of procedure, the global brain monitoring devices market is segmented into invasive and non-invasive
- On the basis of application, the global brain monitoring devices market is segmented into epilepsy, dementia, Parkinson's disease, huntington's disease, headache disorders, stroke, traumatic brain injuries, sleep disorders, and other diseases
Regional Insights: North America dominates the Global Brain Monitoring Devices Market
North America dominates the global brain monitoring devices market, maintaining market share and revenue supremacy. This trend is poised to persist from 2023 to 2030, fueled by heightened expenditures on research and development, governmental initiatives, and enhanced healthcare infrastructure across the region. These factors collectively reinforce North America's pivotal role in advancing and sustaining the growth of the brain monitoring devices market.
Asia-Pacific is expected to dominate the global brain monitoring devices market, exhibiting the highest growth rate from 2023 to 2030. This projection stems from escalating government expenditure on the healthcare sector and the region's proactive initiatives in technological advancements. The increased focus on healthcare and government-led initiatives position Asia-Pacific as a key contributor to the growth and innovation in the global brain monitoring devices market.
Recent Developments: Global Brain Monitoring Devices Market
- In March 2022, Israel-based brain.space launched a wireless EEG device, offering superior readings compared to traditional counterparts and a user-friendly setup without expert assistance. The device's cost-effectiveness and ease of use are anticipated to garner substantial interest, marking a potential breakthrough in accessible and advanced brain monitoring technology in the years ahead
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The Prominent Key Players Operating in the Global Brain Monitoring Devices Market Include:
- NIHON KOHDEN CORPORATION (Japan)
- Koninklijke Philips N.V. (Netherlands)
- GENERAL ELECTRIC COMPANY (U.S.)
- Siemens Healthcare Private Limited (Germany)
- Natus Medical Incorporated (U.S.)
- Compumedics Limited (Australia)
- Electrical Geodesics, Inc (U.S.)
- CAS Medical Systems Inc (U.S.)
- Advanced Brain Monitoring (U.S.)
- B. Braun Medical (Germany)
- BD (U.S.)
- DePuySynthes Companies (U.S.)
- Cadwell Industries, Inc. (U.S.)
- Masimo Corporation (U.S.)
- Elekta AB (Sweden)
- Integra LifeSciences Corporation (U.S.)
- Rimed Inc. (Israel)
- Yokogawa Electric Corporation (Japan)
- EMOTIV Inc. (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global brain monitoring devices market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Brain Monitoring Devices Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
