Diagnostic procedures to determine if the pressure inside the brain is high or low involve intracranial pressure (ICP) monitoring devices. The monitor determines the head pressure and transmits the results to a recording device. The two types of procedures most frequently employed are invasive and non-invasive. Due to its excellent accuracy, the intrusive procedure is one of them that doctors use most frequently. By using invasive or non-invasive methods, the ICP monitoring devices aid in the analysis of cranial pressure within the head and associated damage.
The market worth of the intracranial pressure monitoring market in 2021 was USD 1.38 billion and will reach USD 2.37 billion by 2030 at a 6.2% CAGR.
The increasing number of traumatic accidents and neurological illnesses across the globe will fuel the growth of the ICP monitoring devices market. The demand for worldwide intracranial pressure monitoring systems will increase due to the rise in meningitis cases, brain traumas, and aneurysms. Government programs providing individuals with proper and effective medical care will fuel market expansion.
Growth Factors
- The constant rise in persons suffering from different neurological disorders is the main driver behind the market’s growth. The Brain Injury Association of America (BIAA) claimed in one of their studies that a brain injury happens every nine seconds in the USA, resulting in over 3.5 million injuries annually.
- In addition to the increase in neurological disorders, the market growth is also impacted by the loss of skull flexibility and the rise in traumatic brain injuries (TBI) brought on by shattered skull bones. On the other hand, according to the CDC, about 28% of all fatality rates in 2020 were among those over 75 years old, and there were approximately 176 TBI-related deaths every day in the USA.
- Additionally, the increase in traffic accidents worldwide is significantly promoting market expansion. According to the World Health Organization, vehicle accidents claim the lives of more than 1.3 million people annually.
Restraints
The market for intracranial pressure monitoring devices is constrained by the high cost of these monitoring tools and the scarcity of qualified professionals to use them.
Opportunities
Improvements in intracranial pressure monitoring models like anterior fontanelle pressure monitoring, continuous brain tissue oxygen tension monitoring, and optic nerve sheath diameter (which provides ocular measurements (Tonometry) with magnetic resonance imaging, electroencephalography, near-infrared spectroscopy, and computed tomography) are improving pathophysiology and ICH, which is treated by external ventricular drainage due to excessive R&D. As a result, the global market for intracranial pressure monitoring has a huge opportunity for expansion.
Market Segmentation
Technique insights
With the biggest revenue share of 80.9% in 2021, the invasive procedures segment ruled the market for intracranial pressure monitoring devices. This is because invasive ICP measurements can be carried out at various intracranial anatomical sites (i.e., intraventricular, epidural, intraparenchymal, subdural, and subarachnoidal). The delivery of medications and the therapeutic draining of cerebrospinal fluid (CSF) have been demonstrated to be possible with this technique, which is the most precise and affordable way for ICP monitoring.
Application Insights
In 2021, the traumatic brain injury segment held a significant market position with 31.6% of the revenue share. The most prevalent cause of death in patients with traumatic brain injury is elevated ICP. Accurate ICP evaluation is a key component of therapy success. In addition, it is projected that technological developments will fuel market expansion in the years to come.
Regional Insights
Regionally, North America held the maximum position in the market, with the highest share of 37.6% in 2021. The expanding availability of technologically improved technologies, rising demand for less invasive surgeries, and rising acceptance of noninvasive ICP monitoring techniques are some of the major factors anticipated to support market expansion in this area. In addition to the rising number of trauma cases, the market for intracranial pressure monitoring devices will be driven by the rising rate of migraine, stroke, and other neurological illnesses.
Throughout the forecast period, the market for intracranial pressure monitoring devices in Asia Pacific will grow at a CAGR of 7.67%. The rise in sports-related trauma and injuries primarily drives the market. Emerging economies like China, Japan, South Korea, and India will have significant market expansion throughout the projection period.
Key Players
- Sophysa Ltd
- Integra Lifesciences Corporation
- Natus Medical Incorporated
- DePuy Synthes
- Medtronic Plc.
- IRRAS AB
- Gaeltec devises Ltd
- Spiegelberg GmbH & Co
- Headsense Medical Inc.
- RAUMEDIC, Inc
- Nisonic
- Focus Medical Group Inc.
- Linet
The market worth of the intracranial pressure monitoring market in 2021 was USD 1.38 billion and will reach USD 2.37 billion by 2030 at a 6.2% CAGR. The market is fueled further by technological improvements in brain monitoring devices and a fundamental change from invasive to noninvasive monitoring systems. But the scarcity of qualified surgeons and technicians and the high price of advanced brain monitoring devices are the main factors limiting the development of this sector.
