February 27, 2020
Intracranial Pressure Monitors

Sales of Intracranial Pressure Monitors to Surpass US$ 1.96 Bn by 2025

Market Insights:

The global intracranial pressure monitor market was valued at US$ 1.07 billion in 2016 and is expected to reach US$ 1.96 billion by 2025, increasing to CAGR by 6.8% from 2017 to 2025.

Measurement of intracranial pressure (ICP) is a crucial step in the treatment of brain injury, brain tumor or any other neurological disorder. Intracranial pressure monitors accurately measure the real-time pressure exerted in the skull or head on the basis of which the treatment procedure is to be decided and the condition of the disease to be determined. Increased incidences of traumatic head injury, in turn, drive the growth of intracranial pressure monitors the market.

While increasing public awareness, technological advancement in brain injury monitoring devices, increased health expenditure contributes largely to the growth of intracranial pressure monitors market, the most crucial driving force for the growth of intracranial pressure monitors market is the increase in the incidence of traumatic brain injury. As the geriatric population and thus the neurodegenerative disorders increase, the market for intracranial pressure monitors is expected to face steady growth in the future. However, the lack of skilled health personnel and the high price of intracranial pressure monitors restrict the growth of intracranial pressure monitors in the market.

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Intracranial pressure can be measured using both invasive and non-invasive devices; however, the invasive ICP provides more accurate data and, unlike non-invasive monitors, is not limited to any particular anatomical structure. On the contrary, non-invasive monitors are not associated with complications such as infections, as opposed to invasive monitors. External Ventricular Drainage is estimated to be the gold standard for intracranial pressure measurement in historical years and is expected to remain the same in the forecasting years, although various newer and advanced technologies are emerging along with traditional procedures. However, some complications are associated with invasive methods; but among all the techniques considered, invasive intracranial pressure monitors are the largest revenue-generating segment. Among all types of applications, traumatic brain injury is responsible for the highest market share of intracranial pressure monitors on the maximum CAGR market.

Geographically, North America dominates the intracranial pressure monitoring market followed by Europe in 2016. The increasing incidence of traumatic brain injuries, the corresponding existence of advanced healthcare infrastructure and the presence of major market players contribute to the leading position of these regions. On the other hand, the evolution of healthcare infrastructure through government policies and increased expenditure on healthcare, increasing awareness, makes Asia Pacific the most lucrative and fastest-growing market for intracranial pressure monitors.

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Market Competition Assessment:

The intracranial pressure monitors market currently possesses numerous companies having their products marketed. However, most of the companies are located in North America and others developed regions. The companies have untapped opportunities in the developing regions of the Asia Pacific and Latin America. Companies are coming up with various products in the developed nations due to high acceptance and accessibilities of these products. The companies include Vittamed, Sophysa Ltd., Orsan Medical Technologies, Spiegelberg GmbH & Co. KG, Integra LifeSciences, Holdings Corporation, Gaeltec Devices Ltd., Codman & Shurtleff, Inc., Raumedic AG and others.

Key Market Movements:

– Increasing incidences of traumatic brain injuries, technological advancement in brain injury monitoring devices, increasing health expenditure fuel the growth of the intracranial pressure monitors market.

– Insufficient skilled health personnel and high cost of devices are the major restraining factors of the intracranial pressure monitors market.

The key players profiled in this report are Vittamed, Sophysa Ltd., Orsan Medical Technologies, Spiegelberg GmbH & Co. KG, Integra LifeSciences, Holdings Corporation, Gaeltec Devices Ltd., Codman & Shurtleff, Inc., Raumedic AG and others.

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