Global Intracranial Pressure (ICP) Monitoring Market Synopsis
Market Research Future (MRFR) postulates that the global intracranial pressure (ICP) monitoring market is likely to exhibit 7.1% CAGR during the forecast period (2018-2024) due to the increasing prevalence of neurovascular diseases like brain aneurysm and arteriovenous malformations. Intracranial pressure monitoring devices are especially designed to measure the pressure within the cranium which is caused by accident and trauma. Such devices are generally used to treat traumatic brain injury. ICP measures the pressure in the skull by placing a small probe in the skull. The probe is further attached at the other end to a monitor. The device helps to sense the pressure caused inside the skull and transports the measurements to a recording device.
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Market Potential and Pitfalls
With the increasing incidences of neurovascular diseases like brain aneurysm and arteriovenous malformations, the global intracranial pressure (ICP) monitoring market is predicted to foster during the forecast period. The increased expenditure on healthcare coupled with the strong demand for therapeutics is some of the chief factors propelling the market growth across the globe. The market is slated to exhibit a sturdy growth rate owing to the introduction of favorable reimbursement policies which aim towards the betterment of the public. Moreover, the surging biotechnology sector is likely to cause a shift in the sector and result in the growth of ICP monitoring market.
With the emergence of advanced ICP monitoring devices, the limitations of earlier devices like leveling and de-bubbling of fluid-filled systems and shift in baseline pressure have been eliminated. Advanced monitors enable surgeons to monitor a patient closely and offer effective treatment. The non-invasive ICP monitoring methods do not measure absolute ICP. Therefore, the validation and development of non-invasive intracranial pressure which is capable of measuring absolute ICP device will create great opportunities for the growth of the ICP monitor market. The rising prevalence of stroke and traumatic surgeries has highly influenced the intracranial pressure monitoring market across the globe. Moreover, the upswing in cases of brain surgeries in adults as well as children has triggered the demand for ICP monitors.
On the contrary, high procedural costs of such devices coupled with the dearth of skilled personnel are some of the concerns anticipated to deter the market growth in the coming years.
Global Intracranial Pressure (ICP) Monitoring Market: Segmental Analysis
The global intracranial pressure (ICP) monitoring market has been segmented on the basis of technique, route of intervention, application, device, and end-user.
By mode of route of intervention, the global intracranial pressure (ICP) monitoring market has been segmented into epidural and intraventricular sensor.
By mode of technique, the global intracranial pressure (ICP) monitoring market has been segmented into non-invasive and invasive.
By mode of devices, the global intracranial pressure (ICP) monitoring market has been segmented into subarachnoid screw, intraventricular catheter, non-invasive ICP monitors, and epidural sensors.
By mode of applications, the global intracranial pressure (ICP) monitoring market has been segmented into intracerebral hemorrhage, traumatic brain injury, meningitis, and subarachnoid hemorrhage. Among these, the traumatic brain injury segment is anticipated to hold a significant share in the global market due to its vast prevalence globally.
By mode of end-users, the global intracranial pressure (ICP) monitoring market has been segmented into trauma centers and hospitals & clinics.
Global Intracranial Pressure (ICP) Monitoring Market Regional Insights
Geographically, the intracranial pressure (ICP) monitoring market span across regions namely, Europe, America, Asia Pacific, and the Middle East & Africa.
Among all the regions, the American region is considered to lead the global intracranial pressure (ICP) monitoring market. The growth is credited to the increasing number of patients suffering from moderate to severe brain injury. Moreover, awareness regarding neurodegenerative disease coupled with the constant initiatives undertaken by the government for offering a better infrastructure is predicted to contribute to the market growth in this region.
The Asia Pacific region is considered to expand at the fastest rate owing to the presence of a large patient pool suffering from brain disorders. Moreover, government initiatives and the presence of well-established critical care centers and hospitals are further estimated to boost the market in this region.
Industry Updates
June 01, 2018: A company dedicated to offering cost-effective mobile solutions for ICP, Branchpoint Technologies has recently announced that the U.S. FDA has granted 510(k) clearance for its AURA ICP Monitoring System. The system comprises a fully wireless and implantable ICP sensor, enabling truly mobile ICP monitoring in patients with brain-injury.
Competitive Dashboard
The prominent players operating in the global intracranial pressure (ICP) monitoring market are Terumo Corporation (U.S.), Spiegelberg GmbH & Co. KG (Germany), DePuy Synthes (U.S.), Medtronic Plc (Ireland), RAUMEDIC Inc. (Germany), Sophysa SA (France), Natus Medical Incorporated (U.S.), Boston Neurosciences (U.S.), and Integra LifeSciences Corporation (U.S.).
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