The global intracranial pressure monitoring devices market has been gaining significant traction over the recent past owing to the rising prevalence of traumatic brain injuries and neurological disorders worldwide. Intracranial pressure monitoring devices help in measuring the pressure inside the skull. These devices aid medical professionals to monitor patients suffering from traumatic brain injuries, brain tumors, and cerebral edema. Intracranial pressure monitoring helps ensure appropriate management and treatment of increased intracranial pressure. Continuous monitoring of ICP (intracranial pressure) helps prevent further brain injury and guide clinical management.
The global intracranial pressure monitoring devices market is estimated to be valued at US$ 1.68 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the intracranial pressure monitoring devices market are Codman & Shurtleff Incorporated, Sophysa, Gaeltec Devices Limited, Integra Lifesciences Co., Raumedic AG, VITTAMED, Orsan Medical Technologies, and Haiying Medical.
The intracranial pressure monitoring devices market is witnessing rising demand owing to the increasing incidence of traumatic brain injuries globally. According to WHO, every year around 69 million people sustain a traumatic brain injury globally.
Major market players are focusing on expanding their geographical presence with new product launches and strategic collaborations with regional distributors and hospitals. For instance, in 2022 Raumedic launched its intracranial pressure monitoring product in the US and European markets.
Market drivers
One of the major drivers for the growth of the intracranial pressure monitoring devices market is technological advancements. Vendors are developing novel devices with improved safety and accuracy. For example, some new devices are wireless and provide continuous real-time monitoring of ICP without any risks of infection associated with older catheter devices. Advances are also made in minimally invasive monitor placement techniques. This is expected to boost the adoption of intracranial pressure monitoring globally.
Current geopolitical situation is impacting the growth of Intracranial Pressure Monitoring Devices Market in the following ways:
The ongoing Russia-Ukraine conflict has severely disrupted the global medical devices supply chain. Both Russia and Ukraine are major suppliers of raw materials and components used in manufacturing ICP monitoring devices. The restrictions on trade and exports with Russia have led to shortages of materials like platinum and palladium employed in sensors and transducers. Manufacturers are facing difficulties procuring these critical inputs and production volumes have declined.
Additionally, the conflict has diverted resources from healthcare towards military and humanitarian activities in the affected regions. Government budgets for improving healthcare infrastructure and procuring advanced medical devices have reduced. This is hampering the uptake of high-end ICP monitors in Eastern European nations.
Furthermore, economic uncertainties caused by rising inflation and currency fluctuations are making healthcare more unaffordable for patients. The increase in operating costs is putting pressure on device makers to hike prices. This can discourage hospitals from upgrading to latest ICP monitoring technologies in financially constrained environments.
To overcome these challenges, companies need to diversify their supplier networks and develop alternative sources for raw materials. Establishing regional manufacturing centres closer to major markets can improve supply reliability. Device makers also require strategic tie-ups with public hospitals to provide funding and payment flexibility options to drive adoption.
In terms of value, North America holds the largest share of the intracranial pressure monitoring devices market currently. This is attributed to rising incidence of TBI and brain injuries, availability of reimbursement, and frequent adoption of new technologies by healthcare facilities in the US and Canada.
The Asia Pacific region is poised to experience the fastest growth during the forecast period due to increasing healthcare spending, growing aging population, rising awareness about brain health, and expanding healthcare infrastructure in China, India, and other developing nations. Collaborations between global firms and domestic players will help drive penetration in Asia Pacific.
The Global Intracranial Pressure Monitoring Devices Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.DriversRising cases of neurological disordersIncreasing incidence of traumatic brain injuriesRestraintsDearth of trained workforceHigh cost of deviceThe comprehensive value chain analysis of the market will assist in attaining better product differentiation, along with detailed understanding of the core competency of each activity involved.
The market attractiveness analysis provided in the report aptly measures the potential value of the market providing business strategists with the latest growth opportunities.The report classifies the market into different segments based on technique and application.
These segments are studied in detail incorporating the market estimates and forecasts at regional and country level.
The segment analysis is useful in understanding the growth areas and probable opportunities of the market.Browse the complete Global Intracranial Pressure Monitoring Devices Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 @ https://www.decisiondatabases.com/ip/20905-intracranial-pressure-icp-monitoring-devices-market-reportThe report also covers the complete competitive landscape of the global Intracranial Pressure Monitoring Devices market with company profiles of key players such as:Codman & Shurtleff Inc.Integra LifeSciences Holdings CorporationMedtronic plcOrsan Medical TechnologiesRAUMEDIC AGSophysa Ltd.Spiegelberg GmbH & Co. KGVittamedA detailed description of each has been included, with information in terms of H.Q, future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other latest industrial developments.SEGMENTATIONS IN THE REPORT:By Technique:InvasiveExternal Ventricular DrainageMicrotransducer Icp MonitoringNon-InvasiveTranscranial Doppler UltrasonographyTympanic Membrane DisplacementOptic Nerve Sheath DiameterMri/CtFundoscopyBy Applications:Traumatic Brain InjuryIntracerebral HemorrhageMeningitisSubarachnoid HemorrhageOthersBy Geography:North America (NA) – US, Canada & Rest of North AmericaEurope (EU) – UK, Germany, France & Rest of EuropeAsia Pacific (APAC) – China, Japan, India & Rest of APACLatin America (LA) – Brazil & Rest of Latin AmericaMiddle East & Africa (MEA) – Middle East and AfricaDownload Free Sample Report of Global Intracranial Pressure Monitoring Devices Market @ https://www.decisiondatabases.com/contact/download-sample-20905The Global Intracranial Pressure Monitoring Devices Market has been exhibited in detail in the following chapters -Chapter 1 Intracranial Pressure Monitoring Devices Market PrefaceChapter 2 Executive SummaryChapter 3 Intracranial Pressure Monitoring Devices Industry AnalysisChapter 4 Intracranial Pressure Monitoring Devices Market Value Chain AnalysisChapter 5 Intracranial Pressure Monitoring Devices Market Analysis By TechniqueChapter 6 Intracranial Pressure Monitoring Devices Market Analysis By ApplicationsChapter 7 Intracranial Pressure Monitoring Devices Market Analysis By GeographyChapter 8 Competitive Landscape Of Intracranial Pressure Monitoring Devices CompaniesChapter 9 Company Profiles Of Intracranial Pressure Monitoring Devices IndustryPurchase the complete Global Intracranial Pressure Monitoring Devices Market Research Report @ https://www.decisiondatabases.com/contact/buy-now-20905Other Reports by DecisionDatabases.com:Global Anesthesia Monitoring Devices Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026Global Cardiac Arrhythmia Monitoring Devices Market Research Report - Industry Analysis, Size, Share, Growth, Trends And ForecastAbout-Us:DecisionDatabases.com is a global business research reports provider, enriching decision makers and strategists with qualitative statistics.
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Global Intra-cranial pressure (ICP) Monitor Market information, by techniques (invasive and non-invasive), by methods (intra-ventricular catheter, subdural screw, epidural sensor) by application (traumatic brain injury, intra-cerebral hemorrhage, meningitis and others), Forecast till 2027Market SynopsisMarket 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.
The device helps to sense the pressure caused inside the skull and transports the measurements to a recording device.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/2042 Market Potential and PitfallsWith 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.
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.
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 AnalysisThe 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.
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