Non-invasive Intracranial Pressure Monitoring Device Market Growth & Trends
The global non-invasive intracranial pressure monitoring device market size is anticipated to reach USD 414.65 million by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 6.3% from 2020 to 2027. Increasing incidences of neurological diseases, coupled with a subsequent rise in the number of surgical procedures to treat associated conditions, are driving the market.
Non-invasive intracranial pressure monitoring devices are used to measure the pressure within the skull caused by trauma or medical conditions, such as intracranial hypertension, hydrocephalus, subarachnoid hemorrhages, inflammatory diseases, and cerebrospinal space diseases. These devices help in monitoring the pressure, as increased Intracranial Pressure (ICP) can result in serious or life-threatening medical problems.
Moreover, the high incidence rate of traumatic brain injuries due to road accidents and sports incidents is anticipated to boost the demand for non-invasive intracranial pressure monitoring devices. For instance, globally, in 2020 alone, around 11 million individuals are estimated to be affected by Traumatic Brain Injuries (TBIs).
Additionally, key players are adopting various strategies, such as M&A, partnerships, and product launches, to strengthen their foothold in the market. For instance, in November 2019, Raumedic AG introduced the ICP monitoring device for home use, which is intended for the diagnosis of people who suffer from hydrocephalus.
Non-invasive Intracranial Pressure Monitoring Device Market Report Highlights
- On the basis of type, the MRI/CT scan segment dominated the overall market with a share of 28.34% in 2019. These are robust imaging tools that can detect early signs of injuries, such as microhemorrhage, contusion, and hydrocephalus, due to their higher sensitivity unlike others
- Based on the application, the traumatic brain injury segment dominated the overall market with a share of 46.73% in 2019 owing to the increasing prevalence of TBI and high demand for ICP monitoring devices in trauma care centers
- North America dominated the market with the largest revenue share of 46.78% in 2019 owing to the high incidence of trauma cases and easy availability of technologically advanced healthcare infrastructure in the region