Global Intracranial Pressure (ICP) Monitoring Market Overview:
The global intracranial pressure (ICP) monitoring market is expecting to touch a valuation of USD 2,013.9 million by the end of the forecast period (2018-2024), Market Research Future (MRFR) in their extensively studied report includes chief drivers and detailed study of segments to deliver reliable prediction about the market future.
The deluge of neurovascular diseases such as brain aneurysm, cavernoma, cerebral hemorrhage, and others are likely to evoke the demand for ICP monitoring devices over the forecast period. According to a report by the Neurological Alliance in 2014, England had registered nearly 12.5 million neurological cases. The implementation of ICP devices can alleviate the burden on hospitals to offer astute treatment rapidly.
Competitive Dashboard:
Key competitors in the global intracranial pressure (ICP) monitoring market include DePuy Synthes (U.S.), Boston Neurosciences (U.S.), Terumo Corporation (U.S.), Medtronic Plc (Ireland), Natus Medical Incorporated (U.S.), Spiegelberg GmbH & Co. KG (Germany), RAUMEDIC Inc. (Germany), Sophysa SA (France), and Integra LifeSciences Corporation (U.S.).
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Industry Trend:
Preference of minimally invasive techniques to assist in surgeries has gained voice in recent times owing to its painless approach and less expensive nature. Endovascular embolization (EE) or endovascular coiling is a procedure used for treating brain aneurysms or reducing blood circulation to the aneurysm. Increasing use of EE can bolster the demand for ICP monitoring over the forecast period.
Segmentation:
The global intracranial pressure (ICP) monitoring market can be segmented by route of intervention, technique, device, application, and end-user.
By route of intervention, the market is segmented into intraventricular and epidural sensor. The intraventricular segment accounted for a major share of the ICP monitoring market in 2017. It is touted to touch a valuation of USD 1,190 million by 2024 at a CAGR of 7.4% over the forecast period.
By technique, the market is segmented into invasive and non-invasive. The former is segmented into microtransducer ICP monitoring and external ventricular drainage (EVD). The latter is sub-segmented into transcranial doppler ultrasonography, tympanic membrane displacement (TMD) analyzer, optic nerve sheath diameter (ONSD) sonography, fundoscopy (papilladema), and MRI/CT. Among techniques, the invasive segment is expected to dominate till 2024 and experience a 7.1% CAGR over the forecast period. Within the invasive segment, EVD can touch a value of USD 1,276.8 million by 2024.
Devices offered in the market include intraventricular catheter, subarachnoid screw, epidural sensors, and non-invasive ICP monitors. Among the devices, the intraventricular catheter segment is expected to reign till the end of the forecast period.
Key applications include traumatic brain injury, intracerebral hemorrhage, subarachnoid hemorrhage, and meningitis. Traumatic brain injury is anticipated to be the biggest application in the intracranial pressure monitoring market by 2024, growing at a 7.5% CAGR from 2018 to 2024.
Major end-users of the ICP monitoring market include hospitals & clinics and trauma centers. Hospitals & clinics are expected to be the major end-user of ICP monitoring devices till 2024.
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Regional Analysis:
The intracranial pressure (ICP) monitoring market covers Americas, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).
The Americas accounted for a large market share in 2017 owing to high reported cases of traumatic brain injury, technological advances in medical devices, and a strong healthcare system. It is expected to reach USD 884.8 million by 2024 and dominate by exhibiting exceptional growth at a 7.3% CAGR over the forecast period.
Europe accounted for the second-largest share in 2017 and can reach a market size of USD 676.7 million by 2024. According to Public Health England, nearly 12.5 million suffered from high blood pressure (BP). High BP is one of the precursors which can increase the risk of brain hemorrhages, providing an opportunity to the ICP monitoring market to expand in the region.
The APAC market can experience a robust growth rate of 7.4% over the assessment period owing to rapidly growing economies of India, China, and Japan.
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Intended Audience
- Brain monitoring device manufacturers & suppliers
- Contract Research Organizations (CROs)
- Research and Development (R&D) companies
- Government research laboratories
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