According to the latest report published by Credence Research, Inc. “Intracranial Pressure Monitors Market – Growth, Future Prospects and Competitive Analysis, 2017-2025,” the global intracranial pressure monitors market was valued at US$ 1.07 Bn in 2016, and is expected to reach US$ 1.96 Bn by 2025, expanding at a CAGR of 6.8% from 2017 to 2025.
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Market Insights
Intracranial pressure (ICP) measurement is the crucial step in the treatment of brain injury, brain tumor or any other neurological disorders. Intracranial pressure monitors accurately measure the real-time pressure exerted in the skull or head, based on which the treatment procedure is to be decided and the status of the disease is to be determined. Increasing incidences of traumatic head injury in turn propels the growth of intracranial pressure monitors market.
Although the rising awareness in public, technological advancement in brain injury monitoring devices, increasing health expenditure contribute largely to the growth of intracranial pressure monitors market, but the most crucial driving force for the growth of the intracranial pressure monitors market is increasing incidence of traumatic brain injury. Since the geriatric population is increasing and so the neurodegenerative disorders, it is expected that future of intracranial pressure monitors market will face a steady growth. However, the lack of skilled health personnel and high price of intracranial pressure monitoring device restrain the growth of intracranial pressure monitors market.
The intracranial pressure can be measured using both invasive and non-invasive devices; however the invasive ICP provides more accurate data and unlike non-invasive monitors it is not limited to any particular anatomical structure. On the contrary, non-invasive monitors are not associated with complications such as infections unlike invasive monitors. The External Ventricular Drainage is estimated to be the gold standard for measuring intracranial pressure in the historic years and expected to remain same in the forecasting years although there are various newer and advanced technologies emerging along with the traditional procedures. However, some complications are associated with the invasive methods; but among all the considered techniques, the invasive intracranial pressure monitors is the largest revenue generating segment. Among all application types, traumatic brain injury is responsible for highest market share of intracranial pressure monitors market with maximum CAGR.
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Geographically, in the year 2016, North America dominates the intracranial pressure monitors market followed by Europe. Increasing incidences of traumatic brain injuries, corresponding existence of evolved healthcare infrastructure and presence of major market players contribute to the leading position of these regions. On the other hand, evolution of healthcare infrastructure through government policies and increase in healthcare expenditure, growing awareness makes Asia Pacific the most lucrative and fastest growing market for intracranial pressure monitors market.
Market Competition Assessment:
The intracranial pressure monitors market currently possesses numerous companies having their products marketed. However, most of the companies are located in the North America and others developed regions. The companies have untapped opportunities in the developing regions of Asia Pacific and Latin America. Companies are coming up with various products in the developed nations due to high acceptance and accessibilities of these products. The companies include Vittamed, Sophysa Ltd., Orsan Medical Technologies, Spiegelberg GmbH & Co. KG, Integra LifeSciences, Holdings Corporation, Gaeltec Devices Ltd., Codman & Shurtleff, Inc., Raumedic AG and others.
Browse the full report at http://www.credenceresearch.com/report/intracranial-pressure-monitors-market
Key Market Movements:
– Increasing incidences of traumatic brain injuries, technological advancement in brain injury monitoring devices, increasing health expenditure fuel the growth of the intracranial pressure monitors market.
– Insufficient skilled health personnel and high cost of devices are the major restraining factors of the intracranial pressure monitors market.
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