Brain Monitoring Market Size is estimated to show notable expansion between 2022 and 2028 owing to the expanding geriatric population worldwide and the increasing awareness of neurodegenerative diseases. The rising instances of brain disorders has made way for brain monitoring to be extensively applied in clinical trials. The growing preference for non-invasive and minimally invasive devices, the higher adoption of easy-to-use and portability of devices coupled with rising technological progressions will add positive impetus to the industry expansion.
Brain monitoring assists clinicians in monitoring the condition of the brain under the influence of anesthesia through bilateral data acquisition and processing of the EEG signals. The presence of unfavorable reimbursement policies and government regulations may pose a challenge to product adoption. However, the fast-growing healthcare sector and surging cases of traumatic brain injuries worldwide will add to the market growth.
Based on products, the brain monitoring market from the devices segment is anticipated to rise with the surging patient awareness and the thriving demand for early disease diagnosis. The growing instances of sleep and psychotic disorders have amplified the preference for advanced portable as well as wearable home-based monitoring devices, contributing to increased the market expansion. The electroencephalography (EEG) devices subsegment will see prolific growth on account of the spiraling investments by device manufacturers. The rise in technological advancements has made way numerous advanced imaging techniques. The growing prevalence of brain disorders is another factor driving the usage of these devices.
Demand for brain monitoring systems in traumatic brain injury applications will witness commendable growth with the surging count of trauma cases and the rising improvements in technology. There is a soaring need to monitor patients with traumatic brain injuries for preventing secondary insults to the brain, mainly cerebral ischemia. The growing requirement for measuring increased intracranial pressure (ICP) in patient monitoring will provide a strong impetus to the brain monitoring market dynamics.
North America brain monitoring industry will gain momentum through 2028 due to the presence of favorable reimbursement policies in the region. The rising burden of various neurodegenerative and neurological diseases has led to the increasing innovative strides in mobile EEG machines, real-time monitoring, and alerts.
According to the National Institute of Neurological Disorders and Stroke, nearly 30 million individuals in the U.S. are living with one of close to 7,000 known rare or ultra-rare diseases. Out of these, over 45% of the rare and ultra-rare diseases are linked with neurological symptoms. The growing government support in neuroscience has steered the rising number of clinical trials for brain monitoring products. The wide availability of insurance coverage and medical reimbursement is another impact rendering driver for the industry growth.
Key brain monitoring market players include Neurosoft (OPAP Investment Ltd), Cadwell Industries, Inc., Siemens AG., Natus Medical Incorporated, Nihon Kohden Corporation, Neural Analytics, Inc., Koninklijke Philips N.V., Elekta AB, InfraScan, Inc., BrainScope, Medtronic, Compumedics Limited (D & DJ Burton Holdings Pty Ltd.), CASMED (Edwards Lifesciences), General Electric Company, and Advanced Brain Monitoring, Inc.
Strategic growth-oriented initiatives, like partnerships, investments, acquisitions, and mergers, coupled with technological advancements for novel product developments and innovations, are assisting these firms in gaining competitive advantages and reinforcing their global presence.
For instance, in November 2021, Medtronic plc joined forces with Rune Labs, a renowned solution provider for neurological and psychiatric diseases, to use the latter’s proprietary software platform for integrating, analyzing, and displaying data captured from its Percept PC Neurostimulator.
In another instance, in August 2020, InfraScan announced the issuance of three additional patents by the U.S. Patent Office, spanning brain trauma, internal bleeding, and stroke detection technologies.
As a result of the COVID-19 pandemic, the demand for brain monitoring solutions observed a considerable inclination. This is on account of the rise in the number of research programs underlining the importance of brain monitoring to treat the critically affected COVID-19 patients. The growing requirement for continuous EEG findings in the infected patients across several hospital settings, mainly in the U.S. has also helped in contributing to the market share amidst the outbreak.
Market, by Product
Market, by Application
Market, by End-use
The above information is provided for the following regions and countries: