The Brain Monitoring Market is growing mainly due to rising geriatric population. According to a recent study report published by the Market Research Future, the brain monitoring market is booming and expected to gain prominence over the forecast period. The market is forecasted to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2017 – 2022).
Growing cases of diseases and disorders of the brain such as epilepsy, sleep disorders, brain death, encephalopathy etc. due to rise of risk factors such as accidents, alcoholism, infections, cancer and others are the prime drivers of the market.
The growing cases of traumatic brain injury is represented by the fact that it results in 15 million cases, globally in 2016 alone. The center of disease control estimate that about 35 million American adults suffer from at least one mental health condition.
Other factors such as rising incomes, growing demand for continuous monitoring, growing screening as under the affordable healthcare act development of multispecialty hospitals, growing geriatric population, and developing healthcare infrastructure, are adding fuel to market growth.
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Technological drivers of the market are growing sensitivity, portability, selectivity and devices automation. Advancements in connected healthcare, advancements in analytics, machine learning and internet of things technology (IOT) have immense potential.
The development of 3D technology is expected to transform the market. “Gone are the days of limited functionality as he ponders over the latest patient monitoring devices feature packed to brim”, says Mr. Suhail Noolkar, researcher at Market Research Future. “Adequate value addition will ease the end customer to shed his pocket leading to faster growth”, he adds with a smile on his face.
Leading players profiled in the global brain monitoring market report are Siemens Healthineers (Germany), CAS Medical Systems, Inc. (U.S.), Nihon Kohden Corporation (Japan), Natus Medical Inc. (U.S.), Medtronic plc (Ireland), Electrical Geodesics Incorporated (U.S.), GE Healthcare (U.K.), Philips Healthcare (Netherlands), Compumedics Ltd. (Australia), and Advanced Brain Monitoring (U.S.) and others.
Growing market fragmentation, large operational and inventory costs of the industry, high installation and maintenance costs and scarcity of trained manpower are the constraints hampering the growth of the market.
To generate a comprehensive and detailed understanding of the intricacies of the global brain monitoring market the report has been segmented by type of devices, procedures, modality, end users and regions.
Based on devices, the market is segmented into intracranial pressure monitor, Magnetoencephalography (MEG), Electroencephalograph (EEG), cerebral oximeters, and trans cranial Doppler.
Based on procedures, the market is divided into invasive and non- invasive.
On the basis of modality, the market is segmented into portable EEG devices and fixed EEG devices.
Based on end users, the market is dissected into hospitals, diagnostics center and others.
Based on regions, the market is dissected into North America, Europe, Asia Pacific, Middle East and Africa.
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Jan, 2017 – Abbott bought St. Jude Medical, Inc., for a whopping USD 25 billion which is expected to result in market consolidation benefitting Abbott from market expansion, and diverse product portfolio.
August, 2017 – Royal Philips bought vascular intervention solutions vendor Spectranetics Corporation.
November, 2017 – Philips bought Analytical Informatics, Inc. so as to expand market of its Radiology Solutions portfolio.
North America led by the U.S. is expected to be the largest market owing to its larger healthcare infrastructure, greater screening, excellent reimbursement rates and large income. However the uncertainty of legal and regulatory environment in the U.S. especially the FDA classification rules presents a large threat to the market.
The uncertainty and lengthening approval times have forced many medical devices vendors to obtain marketing approval of new products in non-U.S. markets, particularly Europe. The U.S. food and drug administration (FDA) classifies medical devices into Class I, II, and III. Regulatory control increases from Class I to Class III, with class III devices need to provide reasonable assurance of its safety and effectiveness (premarket notification 510(k) and premarket approval (PMA)). Both these are resource and time intensive process owing to the requirements of valid scientific evidence from the intended use of the device, which must outweigh the probable risks. Thus the growing FDA strictness regarding clinical evidence and testing requirements is a cause of concern to the market.
North America is followed by Europe led by Germany owing to its extensive medical devices industry and followed by France and the U.K. Asia Pacific is projected to generate fastest growth led by China, Japan and India. The Middle East and Africa market is estimated to grow at moderate rate skewed in favor of the Gulf economies of Saudi Arabia, UAE and others.
Table of Content:
1.2 SCOPE OF STUDY
1.2.1 RESEARCH OBJECTIVE
1.2.2 ASSUMPTIONS & LIMITATIONS
1.3 MARKET STRUCTURE:
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS:
2.2 PRIMARY RESEARCH
2.3 SECONDARY RESEARCH:
3 MARKET DYNAMICS
3.4 MACROECONOMIC INDICATORS
4 MARKET FACTOR ANALYSIS
…Continued Full TOC
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