The global market for Brain Monitoring Devices is projected to reach US$1.6 billion by 2020
Increasing Incidence & Prevalence of Neurological
Disorders to Drive Demand for Brain Monitoring Devices, According to a New
Report by Global
Industry Analysts, Inc.
GIA launches comprehensive
analysis of industry segments, trends, growth drivers, market share, size and
demand forecasts on the global Brain Monitoring Devices market. The
global market for Brain Monitoring Devices is projected to reach US$1.6 billion
by 2020, driven by the aging population, rising incidence of neurological
disorders, growing awareness, and technological advancements.
Rising incidence of
neurological diseases is driving the significance of monitoring brain and
neurological functions. Also, other diseases, conditions and events such as
sickle cell disease, fatal accidents, and cardiac procedures that have the
potential to affect the normal functioning of the brain are rising worldwide,
driving the need and demand for brain function monitoring and the devices used
for the purpose. Brain monitoring is also gaining prominence in peri-operative
and post-operative clinical settings where doctors and scientists utilize brain
monitoring devices to analyze sedation and anesthesia. Aging population,
increasing life expectancy, and growing awareness of diseases and their treatment
options are other factors driving the number of brain diagnoses each year, thereby
benefiting demand for brain monitoring devices. Also driving growth are
technological developments that make brain monitoring devices more efficient
and functional with the capability to induce better patient outcomes. The miniaturization
trend is enabling portability, while reducing costs. Continued research efforts,
over the years, have led to the expansion of indications, creating new markets,
thereby contributing to the growth in the market.
Electroencephalography
(EEG) devices which measure and record the degree and pattern of electrical
signals generated by the neuronal activity of the brain, represents the largest
product market. EEG is the first line diagnostic method of choice for
diagnosing stroke, tumor, and other brain disorders. Features such as
interoperability, simple usage, compatibility and connectivity across networks,
have encouraged physicians’ reliance on EEG devices, over the years. The neurological
monitoring market is shifting focus towards long-term monitoring of diseases,
such as epilepsy and sleep apnea, contributing to the growth in demand for
these devices. Magnetoencephalography
devices are used in the diagnosis of epilepsy, particularly in localizing
epileptic focus and functional localization, and are known to be useful in
assessing various other conditions, such as Parkinsonism, schizophrenia,
stroke, and autism. Benefits such as lack of signal distortion due to skull and
soft tissue, higher sensitivity of the technique in the detection of interictal
spikes, and higher overall accuracy than EEG are driving demand for MEG
devices. A major trend in this space is the emergence of hybrid MEG-MRI
systems. Demand for other brain devices, such as IntraCranial Pressure (ICP)
monitors and cerebral oximeters, are witnessing significant growth, driven by the
increasing incidence of fatal injuries and growing cases of hypoxia during
surgical procedures.
As stated by the new
market research report on Brain
Monitoring Devices, the United States
represents the largest market worldwide. Rapid technological advancements made
by companies domiciled in these regions and relatively quicker adoption of
advanced devices when compared to other parts of the world, have put the United
States and Europe ahead in the global market. Asia-Pacific ranks as the fastest
growing market with a CAGR of 9.7% over the analysis period, led by factors
such as, increasing income, rising healthcare spending, growing awareness of
various diseases that require brain monitoring, improving healthcare
infrastructure and accessibility, and growing research activity.
Major players covered in
the report include Advanced Brain Monitoring Inc., CAS Medical Systems,
Compumedics Ltd., Compumedics Germany GmbH, DePuy Synthes Companies, Elekta AB,
Electrical Geodesics Inc., HeadSense Medical Inc., Integra Life Sciences
Corporation, Masimo Corporation, Medtronic Plc., MEG International Services
Ltd., Natus Medical Inc., Nihon Kohden Corp., Nonin Medical Inc., Rimed Inc.,
and Yokogawa Electric Corp. among others.
The research report titled
“Brain
Monitoring Devices: A Global Strategic Business Report” announced by Global
Industry Analysts Inc., provides a comprehensive
review of global market trends and issues, growth drivers, company profiles,
mergers and acquisitions, and other strategic industry activities. The report
provides market estimates and projections in US$ for all major geographic
markets, such as the US, Canada, Japan, Europe (France, Germany, Italy, UK,
Spain, Russia and Rest of Europe), Asia-Pacific (China, India and Rest of
Asia-Pacific) and Rest of World. The global market for Brain Monitoring Devices
is also analyzed by key segments, including IntraCranial Pressure (ICP) Monitors,
ElectroEncephaloGraphy (EEG) Devices, MagnetoEncephaloGraphy (MEG) Devices, and
Others (Cerebral Oximeters, Transcranial Dopplers, and Accessories).
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