Non-Invasive Brain Trauma Monitoring Devices Market Size Worth $18.17 Billion by 2028, Says The Brainy Insights
NEWARK, N.J., March 14, 2022 /PRNewswire/ -- As per the report published by The Brainy Insights, the global non-invasive brain trauma monitoring devices market is expected to grow from USD 10.35 billion in 2020 to USD 18.17 billion by 2028, at a CAGR of 7.27% during the forecast period 2021-2028.
Non-invasive brain trauma monitoring devices are increasingly being used to monitor the course of primary brain injury and limit secondary brain damage of patients in the hospital or at neurological centers. In traumatic brain injury, the primary benefit of non-invasive brain trauma monitoring devices is an anti-inflammatory effect, as they suppress the release of inflammatory chemicals after a head injury. Continuous monitoring of brain trauma in critical-care patients provides the practitioner with the information of whether or not and at what time actions should be taken to decrease brain trauma.
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Traumatic brain injury (TBI) is a severe condition that affects millions of individuals every year. For instance, as per the study by World Health Organization (WHO), brain injury is the leading cause of disability and death worldwide. Most people who experience a mild injury do not require admission to the hospital. People with severe head injuries require treatment in the hospital or at neurological centers. Proposed advantages over invasive brain trauma monitoring devices include no need for surgical installation, lower risk of infection and bleeding, mobility and portability of devices, and safety.
The global non-invasive brain trauma monitoring devices market is witnessing considerable growth owing to increasing incidences of brain trauma injuries across the globe. In addition to this, the rising demand for minimally invasive procedures further boosts the growth of the market. However, the lack of skilled professionals and the high cost of these sophisticated non-invasive brain trauma devices are some of the factors hampering the growth of the market in upcoming years.
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Major players in the global non-invasive brain trauma monitoring devices market are Natus Medical, Inc., Nihon Kohden Corporation, Philips Healthcare, GE Healthcare, Advanced Brain Monitoring, CAS Medical Systems, Inc. (Edwards Lifesciences Corporation), Siemens, Compumedics Ltd., Medtronic Plc., Integra LifeSciences, and Covidien, PLC. among others. Developing and developed countries are offering more significant opportunities, and major players are continuously focused on strategic partnerships, new developments, acquisitions, and venture capital investments to obtain high growth in the market.
- In January 2019, Edwards Lifesciences Corporation announced the acquisition of CAS Medical Systems, Inc. to strengthen Edwards' leadership in smart monitoring technologies by providing physicians with a more comprehensive status of their surgical and critically ill patients.
- In April 2019, Integra LifeSciences announced the release of Integra's CereLink, an intracranial pressure monitoring system that provides more accuracy in terms of less drift over time, more protection due to MR conditional capability, more choice due to durable, flexible ICP sensors, and more information due to its advanced data presentation than current ICP monitoring technologies.
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The non-invasive intracranial pressure monitoring segment led the market with the highest market share and valued at USD 6.07 billion in the year 2020
The technique segment is divided into cerebral edema dynamic monitoring and intracranial pressure monitoring. The non-invasive intracranial pressure monitoring segment led the market with the highest market share and valued USD 6.07 billion in the year 2020. Intracranial pressure (ICP) monitoring is considered the standard care technique in managing and supervising mild to severe head trauma.
The monitoring devices segment accounted for the largest market share of 59.93% in the year 2020
The type segment includes accessories and monitoring devices. The monitoring devices segment accounted for the largest market share of 59.93% in 2020. The extensive use of these monitoring devices is driving the market's growth. In addition to this, these devices are pretty expensive compared to the accessories, boosting this segment's revenue.
The neurological centers are anticipated to grow at the highest CAGR of 8.6% over the forecast period
The end-user segment is divided into hospitals, neurological centers, and others. The neurological centers are anticipated to grow at the highest CAGR of 8.6% over the forecast period. The growth is mainly attributed to the availability of specialized staff and advanced medical devices in the neurological centers.
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Regional Segment Analysis of the Non-Invasive Brain Trauma Monitoring Devices Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
- Asia-Pacific (China, Japan, India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
The North American region emerged as the largest market for the non-invasive brain trauma monitoring devices market and was valued at USD 4.51 billion in 2020. This is because North America is growing tremendously in terms of the healthcare industry. Due to the presence of several technological and pharmaceutical players in countries like Canada and the U.S., North America is projected to dominate the global non-invasive brain trauma monitoring devices market on a geographical front. In addition to this, increasing incidences of traumatic brain injuries and rising treatment further drive the growth of the market. On the other hand, the Asia Pacific region is anticipated to grow at the highest CAGR over the forecast period. This is attributed to rising healthcare expenditure and increasing awareness about brain-related diseases in the region, propelling the growth of the market.
About the report:
The global non-invasive brain trauma monitoring devices market is analyzed on the basis of value (USD billion), volume (Units), export (Units), and import (Units). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining key insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirements whether they are looking to expand or planning to launch a new product in the global market.
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