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The Intracranial Pressure (ICP) Monitoring Market registered US$ 1050.2 Mn in 2019 and it Is Estimated to reach more than US$ 2030.4 Bn by 2029, likely to grow with a CAGR Of 7.6 % during the Forecast Period
Intracranial pressure (ICP) monitoring is an important aspect of neurocritical care. Invasive and non-invasive techniques are used for monitoring intracranial pressure. The non-invasive techniques include transracial Doppler, tympanic membrane displacement, optic nerve sheath diameter, CT scan, and fundoscopy while the invasive techniques include ventriculostomy and micro transducers. Currently, fluid-based systems, implantable transducers, and Doppler ultrasonography are the most commonly used methods of ICP monitoring.
Growing Prevalence of Neurological Disorders to Drive the Growth of the Intracranial Pressure Monitoring Market
Neurological disorders are major causes of death and disability worldwide. Annually, 1.2 million people are diagnosed with adult-onset brain disorders. Every year, the total number of new cases of Parkinson’s disease and traumatic brain injury equals the total number of epilepsy cases. In addition, nearly 500,000 cases of brain tumor, multiple sclerosis, and amyotrophic lateral sclerosis are diagnosed each year. Therefore, the rising number of people affected with these neurological diseases will also increase the risk if intractable high ICP. Intractable elevated ICP is most likely to cause death or distressing neurological damage by reducing cerebral perfusion pressure (CPP) and causing cerebral ischemia or by compressing and causing herniation of the brainstem or other vital structures. Therefore, constant monitoring of intracranial pressure is required in neurosurgical patients. Further, intracranial pressure measurements are vital in the assessment and treatment of neurological disorders such as subarachnoid and intracerebral haemorrhage, ischemic stroke, hydrocephalus, meningitis/encephalitis, and traumatic brain injury (TBI). This, in turn, increases the demand for intracranial pressure monitoring in the surgical units.
Advancements in the ICP Monitoring are expected to Generate Fruitful Opportunities for the Intracranial Pressure Monitoring Market
The advances in the technique of ICP monitoring offer a range of methods for assessing ICP. These techniques can record ICP in real-time and allow therapeutic interventions by detecting changes in intracranial pathophysiology. In addition, the emergence of advanced ICP monitoring devices that are eliminating the limitations of earlier devices such as a spontaneous shift in baseline pressure, and levelling and de-bubbling associated with non-invasive fluid-filled systems will assist the surgeons to closely monitor the patient and provide efficient treatment. Therefore, the ongoing advancements in the ICP monitoring techniques and devices would be a great opportunity for the ICP monitor market.
Growing Demand for Value-Based Care in Healthcare Institutions to Propel the Growth of Intracranial Pressure Monitoring Market
Among monitoring techniques, the non-invasive segment is expected to grow with the highest CAGR owing to the increasing preference for minimally invasive techniques among the millennial population and the advancements in the non-invasive techniques. By application, the traumatic brain injury segment holds a significant share in the intracranial pressure monitoring market as ICP monitoring is vital in traumatic brain injury treatment. In addition, the growing cases of TBI-related emergency department (ED) visits, and hospitalizations among the elderly population have increased significantly in recent years
Based on monitoring devices, the intraventricular catheter holds the largest share in the intracranial pressure monitoring market as it is the most accurate device for monitoring intracranial pressure. Furthermore, by end-users, hospitals and clinics hold a large share as it is the first point of treatment for several neurovascular diseases and head injuries. In addition, growing investments on value-based care in these healthcare facilities will contribute to the growth of intracranial pressure monitoring devices and techniques in hospitals.
North America to Remain the Largest Market in the Intracranial Pressure Monitoring Market
Among the regions, North America acquires an enormous share in the intracranial pressure monitoring market. The US and Canada are the leading contributors to the intracranial pressure monitoring market. In the United States, the number of TBI-related emergency department visits, hospitalizations, increased by 50% from 2006 to 2017 and is expected to increase significantly over the forecast period. Further, the prevalence of brain tumors, neurological conditions, and traumatic brain injuries are on the rise in the U.S. each year, which contributes to the high growth of North America intracranial pressure monitoring market. In addition, favourable reimbursement policies and the availability of enhanced patient care propel the market expansion in the North America region.
Adoption of Organic and Inorganic Growth Strategies to Benefit the Major Players In The Global Intracranial Pressure Monitoring Market
The major companies are trying to consolidate their market position through new product launches and acquisitions. In January 2020, IRRAS, a global provider of neurocritical care solutions has launched the Hummingbird ICP Monitoring product for neurocritical care in the U.S. This launch is expected to provide good opportunities for the company and become a global leader in neurocritical care. In May 2019, the company also acquired InnerSpace Neuro Solutions Inc. to strengthen their neurocritical product portfolio.
The intracranial pressure monitoring market consists of several top players in the healthcare sector, namely, Integra LifeSciences Corporation, DePuy Synthes, Spiegelberg GmbH & Co. KG, RAUMEDIC Inc., Sophysa SA, Boston Neurosciences, Medtronic Plc, Terumo Corporation, IRRAS AB, and Natus Medical Incorporated among several others.
Global Intracranial Pressure Monitoring Market by Monitoring Techniques
Global Intracranial Pressure Monitoring Market by devices
- Traumatic Brain Injury
- Subarachnoid Haemorrhage
Global Intracranial Pressure Monitoring Market by Monitoring Devices
- Intraventricular Catheter
- Epidural Sensors
Global Intracranial Pressure Monitoring Market by End-User
- Hospitals and Clinics
- Trauma Centres
Global Intracranial Pressure Monitoring Market, by Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa