(PharmaNewsWire.Com, April 09, 2020 ) Market Overview • Global Brainmonitoringdevices Market Expected to reach a high CAGR of 6% By 2027: DataM Intelligence • Brain monitoring systems are used to monitor different activities associated with the brain it includes blood flow monitoring, magnetic movement, cerebral oxygen capacity, electrical motion, tumour identification along with other condition. This process involves the use of various brain monitoring devices such as Electroencephalography (EEG), Magnetoencephalography (MEG), Transcranial Doppler Devices (TCD) to track the brain functions. These devices are also used to monitor and diagnose abnormal activities associated with the brain.
Market Drivers: • The rise in the prevalence of neurological disorders with rising in the geriatric population is one of the major factor driving the global brain monitoring devices market during the forecast period. Increase in traumatic brain injury cases across the globe are additionally contributing to the growth of the global brain monitoring devices market. Increase in intracranial pressure is an important cause of secondary brain injury, and ICP monitoring has become an established component for brain monitoring after traumatic brain injury. • According to a study conducted by researchers at the Journal of Neurosurgery in 2018, 69 million individuals worldwide are estimated to sustain a traumatic brain injury each year. • According to Allied Academics in 2018, a wide population of mankind is plagued with mental and neurological illness, with almost 165 million or 34% of the population globally are suffering each year from brain disorders. Market Restraints: • Major factors hindering the global brain monitoring devices market are lack of availability of skilful professionals to operate the brain monitoring devices and stringent government norms.
Market Segmentation • Global brain monitoring devices market is segmented by product type, procedure, application and end-users. The product type includes devices and accessories, product type includes Electroencephalography (EEG), Magnetoencephalography (MEG), Transcranial Doppler Devices (TCD), Cerebral Oximetry, Sleep Monitoring Devices, MRI Scanner, CT scanner, others, and accessories type includes Sensors, Cables, Electrodes, Gels & Pastes, and Others. Procedure type includes invasive and non-invasive, and the application type includes Epilepsy, Sleep Disorders, Tumors, Stroke, Brain Injuries, Parkinson’s disease, and Others. End users include hospitals, ambulatory surgical centres, neurological centres, ambulances, and others. • Hospitals segment dominates the global brain monitoring devices market during the forecast period, increase in adoption of brain monitoring devices by the hospitals to provide the acute care to their patients. The inflow of patients is higher in hospitals when compared with other healthcare service providers. They have enough capacity to handle the installation cost and maintenance cost associated with brain monitoring devices.
Geographical Share • The global brain monitoring devices market is segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. • North America dominates the global brain monitoring devices market due to the growing incidence of sleep and neurogenerative disorders, government initiatives to support technological advancements in the field of neurosciences and expected to remain high during the forecast period. • According to the knowable magazine a digital publication of annual reviews in 2018, approximately 50-70 million Americans have chronic sleep disorders such as insomnia and apnea, a condition in which breathing repeatedly stops and starts throughout the night. • According to the national institute of environmental Health sciences in 2018, neurodegenerative diseases affect millions of people worldwide. Alzheimer and Parkinson's diseases are most common, with more than 5 million Americans are affected with Alzheimer disease, and approximately 500,000 Americans are living with Parkinson’s disease.
Competitive Analysis • Acquisitions, recent FDA approvals, new product launch and technology updation by key players to enhance their user experience by improving usability and efficiency are driving the global brain monitoring devices market. • On February 2019, Edwards Lifesciences acquired CAS Medical System and its non-invasive brain tissue oxygenation monitoring tech for approximately $100 million. • In January 2018, Masimo received FDA clearance for next generation SedLine ® Brain Function Monitoring. • In July 2017, Neural analytics launched software Lucid Ultrasound System 1.1 for its Brain Monitoring System to enhance the user experience by improving usability and efficiency. • In May 2017, Masimo received FDA 510(k) clearance of O3TM Regional Oximetry for pediatric patients. • In May 2016, Neural Analytics received U.S FDA 510(k) clearance for next-generation portable Brain monitoring information system. • Major market players in the brain monitoring devices market are Medtronic, Masimo, Advanced Brain Monitoring, Inc, CAS Medical Systems, Inc, Compumedics Ltd, GE Healthcare, Philips Healthcare, Neural Analytics, Inc, Siemens AG, Others.
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