Brain Monitoring Market: Current Analysis and Forecast (2021-2027)
Brain monitoring devices are used to monitor and diagnose neurological conditions by exploring the structure and function of the brain. This process involves the use of several brain monitoring devices such as electroencephalography devices, intracranial pressure monitors, and magnetoencephalography to track brain functions. In addition, these devices help monitor neural and electrical activity in the brain. At present, there is an increase in the demand for electroencephalography devices among healthcare providers.
The presence of high incidence rates of diseases leading to brain disorders such as epilepsy, Alzheimer's disease, brain tumors, and multiple sclerosis will also serve this market as high impact rendering drivers. According to the estimates of the WHO in 2011 the global prevalence of epilepsy and multiple sclerosis was calculated at 50 million and 2.5 million respectively. This alarming statistic goes to show the dire need for brain monitoring devices in the global healthcare industry today. The market offers a wide range of devices to treat the abnormal brain activities and restore its functioning, depending on the case.
The growth of this market is driven owing to increasing incidence and prevalence of neurological disorders, rising awareness of neurodegenerative diseases and growth in the number of traumatic brain injuries. For instance, According to WHO data, in September 2019, around 50 million people are affected by dementia globally, with nearly 10 million new cases registered each year. It is one of the major causes of disability and dependency among older people worldwide. Also, in June 2019, globally, the number of people affected with epilepsy was approximately 50 million; of this, nearly 80% live in low- and middle-income countries according to WHO data.
Based on product, the Brain Monitoring market is segmented into devices and accessories. The devices segment held the largest share of the brain monitoring market in 2019. This is mainly due to the rising incidence of neurological, neurodegenerative, psychotic, and sleep disorders, the need for early diagnosis, the availability of innovative portable and wearable home-based monitoring devices, and increasing patient awareness.
Based on disease, the brain monitoring market is segmented into traumatic brain injury (TBI), stroke, dementia, headache disorders, sleep disorders, Parkinson's disease, epilepsy, Huntington's disease, and other diseases. Traumatic brain injury (TBI) holds the largest share of the brain monitoring market by a medical condition. A major factor responsible for the large share of this market segment is the growing incidence of TBIs across the globe, leading to high demand for the management of these cases, thus requiring the intensive use of brain monitoring devices.
Depending on procedure, the market is categorized into invasive and non-invasive. The non-invasive segment is projected to show fastest growth during the forecast period, due to rise in incidences of traumatic brain injuries, high acceptance rate of minimally invasive devices, and low risk of mortality. This increases the demand for these products that propels the market growth.
Based on end-users, the global brain monitoring devices market is segmented into hospitals, neurology centers, diagnostic centers, ASCs & clinics, and other end users. The hospital segment held the largest share of the global brain monitoring market in 2019. Brain monitoring is a complex process, requiring expensive and advanced devices and equipment that are mainly found in hospitals. Hospitals also see a considerably larger inflow of patients as compared to small clinics and other end users. Additionally, brain monitoring devices pose a considerable burden in terms of maintenance expenses on healthcare facilities; hospitals, more than other end-users, can bear such costs. Hence, brain monitoring devices are mostly used in hospitals, which consequently account for the largest share of this market segment.
For a better understanding of the market adoption, report provide detailed analysis for major region and countries including North America (US, Canada, Rest of North America), Europe (Germany, France, Spain, Italy, United Kingdom, Rest of Europe), Asia-Pacific (China, Japan, India, South Korea and Rest of APAC), and Rest of World. North America is expected to dominate the Brain Monitoring market due to growing incidence of neurological diseases, a growing number of clinical trials of brain monitoring products, and the availability of medical reimbursement in the US. However, Asia-Pacific is expected to experience the highest growth rate during the forecast period, due to increase in number of geriatric population and rise in purchasing power of countries in the region.
Some of the major players operating in the market include Natus Medical, Inc., Nihon Kohden Corporation, Philips Healthcare, GE Healthcare, Siemens Healthineers, Compumedics, Ltd., Medtronic, CAS Medical Systems, Dragerwerk AG & Co. KGaA and Masimo Corporation.
1. MARKET INTRODUCTION
2. RESEARCH METHODOLOGY OR ASSUMPTION
3. MARKET SYNOPSIS
4. EXECUTIVE SUMMARY
5. BRAIN MONITORING AMID COVID-19
6. GLOBAL BRAIN MONITORING MARKET REVENUE (USD MN), 2019-2027F
7. MARKET INSIGHTS BY PRODUCT
8. MARKET INSIGHTS BY PROCEDURE
9. MARKET INSIGHTS BY MEDICAL CONDITION
10. MARKET INSIGHTS BY END-USER
11. MARKET INSIGHTS BY REGION
12. BRAIN MONITORING MARKET DYNAMICS
13. BRAIN MONITORING MARKET OPPORTUNITIES
14. BRAIN MONITORING MARKET TRENDS
15. LEGAL & REGULATORY FRAMEWORK
16. DEMAND AND SUPPLY SIDE ANALYSIS
17. VALUE CHAIN ANALYSIS
18. COMPETITIVE SCENARIO
19. COMPANY PROFILED