Global Brain Monitoring Devices Market size is expected to register 6% CAGR during the forecast period (2019-2025). Brain monitoring devices are used in the process of analyzing and reporting brain functions using various connected smart devices. For instance, EEG devices are widely used to detect sleep disorders, epilepsy, brain death, and encephalopathy. Over recent years, there has been a dramatic rise in the prevalence of various brain-related conditions such as depression, neurological disorders, and others.
On the other hand, brain monitoring and diagnostic devices are evolving significantly with the advent of technology. As a cumulative effect of these factors, the global brain monitoring devices market has been witnessing a constant rise in its revenue gains.
Rising awareness about various neurological conditions and the availability of technologically advanced devices for monitoring brain functions are the major growth drivers for the market. Also, the growing prevalence of traumatic brain injuries (TBI) and advancements in therapeutics and devices to manage the condition push the market growth further. Besides, rising TBI cases arose due to road accidents, blunt force trauma, violent assaults, and sports injuries foster the growth of the market.
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Moreover, the availability of an array of advanced diagnostic and monitoring devices for the treatment of brain damages influence the market growth, increasing the access to early detection and treatment to manage the conditions further effectively. Conversely, the high cost of brain monitoring devices and unmet clinical needs are the major factors acting as market growth impeders.
Nevertheless, rapidly growing patient monitoring devices market and brain surgery software market would support market growth throughout the review period. Also, the emergence of novel technologies is estimated to boost the growth of the market, increasing the production of affordable brain monitoring devices.
Brain Monitoring Devices Market Segmentations
The analysis has been segmented into four major dynamics.
By Application, the global brain monitoring devices market is segmented into Headache Disorders, Stroke, Epilepsy, Parkinson’s Disease, and others.
By Type, the global brain monitoring devices market is segmented into X Rays, MRI Systems, Computed Tomography, CT Scans, and others.
By End Users, the global brain monitoring devices market is segmented into Hospital & Clinical, Research Laboratories, Academic Institutes, and others.
By Regions, the global brain monitoring devices market is segmented into Asia Pacific, Americas, Europe, Middle East & Africa, and Rest-of-the-World
Brain Monitoring Devices Market Regional Analysis
North America dominates the global brain monitoring devices market. The largest market share attributes to the availability and early adoption of advanced technology and well-developed healthcare sectors in this region. Besides, factors such as a large patient pool suffering from traumatic brain injury (TBI) contributes to the regional market growth.
Also, rising hospitalizations and mortality rates led by the TBI increase the size of the regional market. The brain monitoring devices market in the US, backed by the high healthcare expenditures, accounts for the largest share in the regional market. The North America brain monitoring devices market is projected to retain its leading position throughout the assessment period expanding at a significant pace.
Europe takes the second-leading position in the global brain monitoring devices market, heading with flourishing medical devices sectors and notable players operating in the region. Moreover, increasing the geriatric population, alongside the growing cases of TBI and neurological disorders across the region, acts as a major tailwind pushing the growth of the market. Furthermore, significant advances in medical technologies and digital medicines contribute to regional market growth.
The Asia Pacific region is emerging as a promising market for brain monitoring devices. Rising numbers of head injuries occurred during road collisions, and the increasing rate of TBI in the region foster the brain monitoring devices market. Besides, increasing cases of neurological disorders in the Southeast Asian and Western Pacific regions promote the growth of the market. Additionally, large unmet needs and the availability of low-cost treatment procedures drive the growth of the APAC brain monitoring devices market
Brain Monitoring Devices Market Competitive Landscape
Fiercely competitive, the brain monitoring devices market appears highly fragmented due to the presence of many large & small-scale players. These players invest substantially to form strategic partnerships and collaborations to gain a larger competitive advantage. They also invest in driving RD activities and in meeting their expansion plans. Through R&D, they drive technology launch, and to expand their global footprints, they acquire promising companies from emerging regions.
Brain Monitoring Devices Market Major Players:
Players driving the global brain monitoring devices market include Advanced Brain Monitoring, Philips Healthcare, GE Healthcare, Siemens Healthineers, Nihon Kohden Corporation, Medtronic, Drägerwerk AG & Co. KGaA, Neurosoft, Integra LifeSciences Corporation, and Olympus Corporationm, among others.
Brain Monitoring Devices Industry/Innovations/Related News:
Masimo (the US), a leading global medical technology company, announced the acquisition of the connected care business of NantHealth (the US), a healthcare cloud-based information technology company. The acquisition would boost the company’s goal of providing more hospital automation, connectivity, and innovative noninvasive monitoring technologies. The addition of connectivity assets complements Masimo’s existing offerings and aligns with its mission to accelerate the internal growth initiatives in the connected care area.
Masimo develops & manufactures innovative noninvasive patient monitoring technologies, medical devices, and an array of sensors. Its brain monitoring technologies include cerebral oximetry and sedation monitoring technologies. NantHealth offers a clinical platform that provides actionable health information at the point of care. Its medical devices include DCX device connectivity ((DeviceConX), VCX patient vitals software (VitalsConX), and the HBox connectivity hub & shuttle interface cable.
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