Home > Healthcare & Medical Devices > Intracranial Pressure (ICP) Monitoring Devices Market
Intracranial Pressure Monitoring Devices Market Size will expand lucratively between 2022 and 2028, driven by the growing prevalence of neurological disorders and rise in traumatic accidents.
Additionally, elevating cases of meningitis, brain infection, and aneurysm among the global population would as well result in an increased requirement for ICP monitoring devices, presenting notable growth prospects for the intracranial pressure (ICP) monitoring devices market over 2022-2028. According to the WHO estimates, meningitis remains a global public health burden for various economies. Nearly 1 in 10 people affected by bacterial meningitis die while 1 in 5 has severe complications.
ICP monitoring devices are commonly used for measuring the pressure within the cranium and brain caused by neurological diseases or trauma. The monitoring is of high significant post-operative and diagnostics importance in patients with skull injury.
ICP monitoring devices market is being further impelled by the increasing geriatric population and robust growth in foreign investments. Besides, governments across various developing economies are constantly investing hefty amounts of funds to augment patient-centered care, efficiency, and safety.
However, the dearth of trained professionals for equipment operation and high procedural costs associated with ICP pressure devices deployment are poised to pose challenge to the intracranial pressure (ICP) monitoring devices market growth expansion throughout the analysis period.
Based on the technique, non-invasive ICP monitoring devices segment would accrue considerable gains through 2028, fueled by the growing prominence of these devices including, MRI/CT scans, optic nerve sheath diameter, and others. MRI/CT scans out of these are expected to generate substantial gains across the overall intracranial pressure (ICP) monitoring devices market segment. Morphological features of CT scans of the brain can be potentially used to estimate ICP through an image-processing algorithm. Clinically, such predictions can be used to foresee outcomes and evade the placement of invasive intracranial monitors in patients with severe traumatic brain injury.
In terms of application, ICP monitoring devices market size is projected to grow from the brain edema and CNS infection segment. ICP monitoring is considered to be the most readily available monitoring method for patients with brain injury, mainly due to the lack of a continuous reliable method of measuring brain edema. Besides, non-invasive procedures like CT and MRI scans have been chosen as a method for visualizing cerebral edema.
Considering the regional landscape, North America ICP monitoring devices market, led by the United States and Canada, is predicted to account for a significant share in the ensuing years. This can be ascribed to the increasing neurological disease pervasiveness in the region. As per CDC estimates, there were approximately 61,000 traumatic brain injury-related fatalities recorded in the US in 2019, accounting for about 166 TBI deaths almost daily. Moreover, expanding healthcare infrastructure, presence of large patient population, and increasing adoption of advanced ICP monitoring devices.
Medtronic plc, Integra LifeScience Corporation, HeadSense Medical, Codman & Shurtleff (Johnson & Johnson, DePuy Synthes Companies), Vittamed, Vivonics Inc., Orsan Medical Technologies, and Spiegelberg, amongst are the eminent players operating in the global intracranial pressure (ICP) monitoring devices market.
These market vendors are relentlessly working towards development of novel innovations in the field, taking up strategic initiatives like mergers and acquisitions and partnerships to solidify their position in the overall intracranial pressure (ICP) monitoring devices market.
The daunting coronavirus pandemic outbreak had left various businesses on standstill, severely affecting their revenues and profit quotients. Although the medical industry observed gradual escalation during the pandemic, disruptions in supply chain, movement restrictions, and reduced workforce had negatively influenced the ICP monitoring devices market. This can also be attributed to the postponement of various neurological surgeries worldwide.
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