Intra-Cranial Pressure Monitoring Market Overview
Global Intra-cranial Pressure (ICP) Monitor market, although in its embryonic stage, is still witnessing an outstanding growth over the past couple of years. This growth attributes to the ability of these monitors in the field of neurosurgery in processes such as the external ventricular draining, CSF circulation, and CSF functions among others.
Furthermore, traumatic brain injuries and diseases that are impacting the brain health such as intra-cerebral haemorrhage, meningitis, and neurological damages among others are fostering the market growth to an extent. The neurology sector has been witnessing the emergence of many advent devices over the past few years which is increasing the market size with the huge demand for icp monitoring devices, increasing applications of these monitors. Resultantly, the ICP monitor market is escalating on the global platform.
Acknowledging the traction, this market is vibrating with currently; Market Research Future (MRFR) in its recently published study report giving asserts that the global intra-cranial pressure (ICP) monitor market is expected to grow at 6.7% CAGR to reach USD 2.5 billion over the forecast period 2022-2030.
Additional factors substantiating the market growth include increasing government funding and programs primarily in the developing regions to support the R&D activities undertaken to bring more advancements and inventions in these monitors. Technological advancements in the field of telehealth, telemetric monitoring, and in smart and connected devices along with penetration of ubiquitous technologies such as the Internet of Things (IoT) and Artificial Intelligence (AI) are fostering the market growth of ICP monitors.
Global Intra-cranial Pressure Monitor Market – Geographical Analysis
The Asia Pacific region is rapidly emerging as a promising market for ICP monitor, growing rapidly. Increasing incidents of neurological disorders are fuelling the market growth. Moreover, factors such as the augmenting demand for quality equipment and proliferating healthcare technology are projected to provide impetus to the market growth, leading to the increasing the uptake of ICP monitors.
The European region is another lucrative market for ICP monitors. Increasing focus on the development of advent monitors alongside rising government support for R&D activities is contributing to the market growth. Also, the increasing numbers of specialty services offered by various healthcare providers foster the growth of the market in Europe.
Globally, North America is dominating the global Intra-cranial pressure monitor market. Furthermore, factors such as extensive demand and uptake of technologically advanced monitoring devices in medical, increasing public & private organizations’ support for R&D activities and high healthcare expenditures substantiate the market growth include. With the growing prevalence of neurological disorders, the North American ICP monitor market is expected to evaluate phenomenally by 2022.
Global Intra-cranial Pressure Monitor Market – Competitive Analysis
Global intra-cranial pressure monitor market appears to be competitive & fragmented owing to the several small & big players accounting for a substantial intra-cranial pressure monitor market share. Through strategic initiatives such as partnership, acquisition, collaboration, expansion, product & technology launch, these players try to gain the competitive advantage in the market.
Global Intra-cranial Pressure Monitor Market – Segmentations
MRFR has segmented its analysis into four key dynamics for enhanced understanding.
By Applications : Traumatic Brain Injury, Intra-Cerebral Haemorrhage, and Meningitis among others.
By Techniques : Invasive and Non-Invasive among others.
By Methods : Intra-Ventricular Catheter, Subdural Screw, and Epidural Sensor among others.
By Regions : Europe, North America, APAC and Rest-of-the-World.
Market Players
Some of the intra-cranial pressure monitor market research players include Compumedics Limited (Australia), Covidien Plc. (Ireland), Natus Medical Incorporated (US), Codman & Shurtleff, Inc. (US), Integra LifeSciences Corporation (US), Raumedic (USA), and Vittamed.
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