Neurosurgery and neurology use intracranial pressure (ICP) monitoring to measure the pressure inside the skull. Techniques that are invasive or non-invasive can be used to perform them. Among them, invasive procedures include cutting a hole in the skull using a burr hole or twist drill technique in order to insert the device, such as ventriculostomy and micro transducers.
The market for intracranial pressure monitoring in 2021 was worth USD 1.38 billion, and it will be worth USD 2.37 billion by 2030, growing at a 6.2% CAGR during the forecast period.
Non-communicable neurological disorders (NCDs) are the primary cause of disability and the second major cause of mortality globally, according to studies by the World Federation of Neurology. The occurrence of traumatic accidents and neurological diseases is on the rise, which is driving the sector.
There is a growing need to give patients the best care possible when they are in a critical situation due to the rising number of instances of coronavirus illness (COVID-19). As these devices are utilized to monitor patients receiving intensive care, this is bolstering the growth of the ICP monitor market. In addition, the growing population of people with traumatic brain injuries (TBI) is another element driving market expansion.
Market Dynamics
Drivers
The increasing number of traumatic accidents and neurological illnesses across the globe drives the growth of the ICP monitoring devices market. The demand for worldwide intracranial pressure monitoring systems is also anticipated to increase due to the rise in meningitis cases, brain traumas, and aneurysms. Additionally, efforts by the government to provide people with good and effective medical care are driving the market’s expansion.
Restraints
The market for intracranial pressure monitoring devices is constrained by the high cost of these monitoring tools and the need for qualified professionals to use them.
Opportunity
Manufacturers will experience exponential growth in their industries in growing economies like Japan and India since these nations are seeing an increase in the senior population, which is more susceptible to neurological illnesses. According to the World Health Organization, by 2050, there will be 22% more people over the age of 60 than there were in 2015.
Market Segmentation
Technique Insights
With the biggest revenue share of 80.9% in 2021, the invasive procedures category ruled the market for intracranial pressure monitoring devices. This is because invasive ICP measurements can be carried out at a variety of intracranial anatomical sites (i.e., intraventricular, intraparenchymal, epidural, subdural, and subarachnoidal).
The non-invasive sector will experience the highest CAGR of 8.6% over the projection period. This is because invasive procedures can result in a number of problems, including infection, bleeding, equipment failure, blockage, and incorrect catheter positioning.
Application Insights
With a revenue share of over 31.6% in 2021, the traumatic brain injury category dominated the market for intracranial pressure monitoring devices. Accurate ICP evaluation is a key component of therapy success. In addition, technology developments would fuel market expansion.
Regional Insights
North America held the largest market in 2021, with a share of 37.6% in the global market for intracranial pressure monitoring devices. The expanding availability of technologically improved technologies, rising demand for less invasive surgeries, and rising acceptance of noninvasive ICP monitoring techniques are some of the major factors supporting market expansion in this area. In addition to the rising number of trauma cases, the market for intracranial pressure monitoring devices will be driven by the rising prevalence of migraine, stroke, and other neurological illnesses.
Asia Pacific regional market will grow rapidly at 7.67% CAGR during the forecast period. The rise in sports-related trauma and injuries is primarily driving the market. Emerging economies like China, Japan, South Korea, and India will have significant market expansion throughout the projection period.
Key Players
- Medtronic Plc.
- Natus Medical Incorporated
- Integra Lifesciences Corporation
- Sophysa Ltd
- DePuySynthes
- RAUMEDIC, Inc
- Gaeltec devises Ltd
- IRRAS AB
- Headsense Medical Inc.
- Spiegelberg GmbH & Co
- Nisonic
- Focus Medical Group Inc.
- Linet
The market for intracranial pressure monitoring in 2021 was worth USD 1.38 billion, and it will be worth USD 2.37 billion by 2030, growing at a 6.2% CAGR during the forecast period. Major factors driving market expansion are the growing rate of chronic disorders like auto-immune, neurological disorders, and cardiovascular disorders, as well as growing technological developments in brain monitoring devices.