Market 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. ICP measures the pressure in the skull by placing a small probe in the skull.
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Market Potential and Pitfalls
With 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. The increased expenditure on healthcare coupled with the strong demand for therapeutics is some of the chief factors propelling the market growth across the globe. The market is slated to exhibit a sturdy growth rate owing to the introduction of favorable reimbursement policies which aim towards the betterment of the public. Moreover, the surging biotechnology sector is likely to cause a shift in the sector and result in the growth of ICP monitoring market.
Global Intracranial Pressure (ICP) Monitoring Market: Segmental Analysis
The 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. Among these, the traumatic brain injury segment is anticipated to hold a significant share in the global market due to its vast prevalence globally.
Geographically, the intracranial pressure (ICP) monitoring market span across regions namely, Europe, America, Asia Pacific, and the Middle East & Africa.
Among all the regions, the American region is considered to lead the global intracranial pressure (ICP) monitoring market. The growth is credited to the increasing number of patients suffering from moderate to severe brain injury. Moreover, awareness regarding neurodegenerative disease coupled with the constant initiatives undertaken by the government for offering a better infrastructure is predicted to contribute to the market growth in this region.
The Asia Pacific region is considered to expand at the fastest rate owing to the presence of a large patient pool suffering from brain disorders. Moreover, government initiatives and the presence of well-established critical care centers and hospitals are further estimated to boost the market in this region.
The prominent players operating in the global intracranial pressure (ICP) monitoring market are Terumo Corporation (U.S.), Spiegelberg GmbH & Co. KG (Germany), DePuy Synthes (U.S.), Medtronic Plc (Ireland), RAUMEDIC Inc. (Germany), Sophysa SA (France), Natus Medical Incorporated (U.S.), Boston Neurosciences (U.S.), and Integra LifeSciences Corporation (U.S.).
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