The Global Market for Brain Monitoring Devices is Forecast to Reach US$1.8 Billion by 2024

Increasing Prevalence of Neurological Disorders, Growing Awareness, and Technological Developments Drive the Global Brain Monitoring Devices Market, 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 forecast to reach US$1.8 billion by 2024, driven by increasing prevalence of various neurological devices, growing awareness of diseases and treatment options, along with technological advancements of diagnostic devices.

Worldwide, the incidence and prevalence of neurological disorders is on the rise, driving demand for procedures and devices used for diagnosing and treating these conditions. Aging population and increasing life expectancy are contributing to the growth in the number of affected patients, which reached unprecedented levels in recent years. While the prevalence of epilepsy reached closed to 50 million, Alzheimer’s disease affects around 36 million people worldwide. Growing awareness of diseases and treatment options, along with technological advancements of diagnostic devices, are resulting in increasing number of diagnoses each year. Continued research efforts in evaluating existing brain monitoring technologies in various novel applications are also leading to the expansion of indications, which further created new markets for monitoring devices. Introduction of neonatal brain monitoring with video recording devices is also driving market growth, driven by the increased risk of seizures in neonates. In addition, the market is also witnessing the development of portable and wearable home-based monitoring devices. However, key growth restraining factors include high cost of the equipment, unfavorable reimbursement policies, and shortage of skilled and trained professionals.

EEG represents the largest segment in the global brain monitoring devices market. The market for EEG devices is forecast to be driven by increasing prevalence of neurological complications, such as epilepsy, multiple sclerosis, Alzheimer's disease, sleep disorders, brain tumor, and brain death. Increasing governmental support for research and development is another factor driving the market growth. The government as well as non-government agencies are collaborating with one another in order to develop advanced EEG devices. The global market for MEG systems is witnessing steady growth. However, the market is fraught with various challenges, including the high costs incurred due to the usage of liquid helium for cooling, and also the lower spatial resolution.  Leading MEG manufacturers, such as Elekta and Compumedics, are planning to reduce costs in order to expand sales.  Meanwhile, the global IntraCranial Pressure (ICP) monitoring systems market is driven by factors, such as increasing number of TBI (Traumatic-Brain-Injury) cases, development of non-invasive and wireless ICP systems, and expansion of indications for ICP monitors.

As stated by the new market research report on Brain Monitoring Devices, the U.S. represents the largest market for brain monitoring devices worldwide, driven by increasing aging population, rising incidence of the diseases, government initiatives, and favorable public insurance policies. Asia-Pacific is projected to emerge as the fastest growing regional market worldwide over the analysis period, driven largely by tremendous growth demand for brain monitoring devices in China. 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 in the region are driving market growth.

Major players in the market include Advanced Brain Monitoring Inc., Cadwell Laboratories Inc., CAS Medical Systems, Compumedics Ltd., Compumedics Germany GmbH, Elekta AB , Electrical Geodesics Inc., HeadSense Medical Inc., Integra Life Sciences Corporation, Masimo Corporation, Medtronic Plc., MEG International Services Ltd.,  Natus Medical Incorporated, NeuroWave Systems Inc., Nihon Kohden Corporation, Nonin Medical, Inc., Ornim Medical, Rimed Inc., Raumedic AG, Spiegelberg GmbH, Third Eye Diagnostics Inc., and Vittamed Corporation,  among several others.

The research report titled “Brain Monitoring Devices: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, mergers, acquisitions and other strategic industry activities of global companies. The report provides market estimates and projections 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. Product segments analyzed include Intracranial Pressure Monitors, Electroencephalography Devices, Magnetoencephalography Devices, and Others (include Cerebral Oximeters, Transcranial Dopplers, and Accessories).

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