Global intracranial pressure monitoring devices market is driven by rise in the neurological disorders, increased awareness among people about the availability of various treatment procedures, technological advancements, extension of life expectancy, and increasing aging population base.
The National Institute of Neurological Disorders and Stroke (NINDS) estimated that around USD 5 billion is spent for brain disorders and over 100 million people are affected with 1,000 different brain disorders. In addition, NINDS has supported the Brain Research through Advancing Innovative Neurotechnologies (BRAIN) initiative by funding USD 1.6 billion BRAIN initiative is also funded by universities, patient advocacy organizations, corporations, major foundations, and Advanced Research Projects Activity (IARPA).
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The intracranial pressure monitoring devices industry is segmented on the basis of products, applications, and procedures. Types of products are fiber-optic monitors, intraventricular catheters, ICP monitors, subarachnoid screws, and epidural sensors. ICP monitors held the largest revenue share in 2013.
The intracranial pressure is monitored by invasive or noninvasive methods. Invasive methods of monitoring the intracranial pressure are microtransducers and ventriculostomy, which have several drawbacks such as bleeding, infection, damage to brain tissue, risk of general anesthesia, and brain herniation. Therefore, to combat these drawbacks, the noninvasive monitoring methods including transcranial Doppler, CT scan/MRI, tympanic membrane displacement, fundocopy, and optic nerve sheath diameter were brought into use.
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North America dominated the market due to the rise in post-surgical cerebrovascular accidents, increase in awareness for procedures, and growing patient pool with neurological disorders. All these factors have propelled the use of monitoring devices in hospitals and clinics to record the sedative and anesthesia activities.
Asia Pacific region is driven by the government initiatives, increasing awareness of people towards neurological disorders coupled with procedures available for their treatment. Developing countries such as Japan, India, and China are expected to be the emerging markets due to research facilities, investments, and third-party manufacturing options in Asia Pacific.
Integra LifeSciences Holdings Corporation, Codman & Shurtleff Inc., Sophysa Ltd., Orsan Medical Technologies, Raumedic and Gaeltec Devices Ltd. dominate the industry. Some of the advancements by key players are nICP by Orsan, Neurovent-PTO by Raumedic, and ICP Express by Codman Neuro.
Government initiatives and major player’s efforts to continuously upgrade the techniques as well as technologies to monitor the ICP are expected to boom the industry over the forecast period.
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