A new market study, titled “Brain Monitoring Devices Global Market – Forecast to 2023”, has been featured on WiseGuyReports.
Brain monitoring is a technology including the application of different devices to image or monitor the structure, function or pharmacology of the brain. Brain monitoring techniques are segmented into structural imaging and functional imaging where structural imaging includes the diagnosis of the nervous system in a larger scale for the disorders like tumor, injury by techniques like CT and MRI. Functional imaging includes the diagnosis in a finer scale for the Alzheimer’s disease and other psychiatric behavioural disorders by devices like EEG, MEG, ICP, TCD, oximeters and PET devices. The functional imaging data provides images of the brain as patients complete tasks, such as solving math problems, reading, or responding to stimuli such as auditory sounds or flashing lights. Current brain monitoring techniques provides both form and functions of the brain like brain anatomy, integrity of the brain structures, brain’s chemistry, physiology and electrical and metabolic activity. EEG records the electrical activity associated with the neuronal depolarization and MEG records the magnetic field produced by these electrical activity.
Improvements in technology, methodology and interpretation continue to come up at an enhancing rate in the field of brain monitoring devices market. From the past decade there are tremendous progressive refinements in brain monitoring devices in terms of portability, efficiency, cost and invasive & non-invasive nature. The transitions includes from conventional, heavy room occupying EEG monitoring machines to modern portable, wireless, mobile machines with advanced computational power . The recent advancements in these devices includes a new brain monitoring device by a research team from the Perelman School of Medicine at the University of Pennsylvania that is implanted with in the brain and naturally melts away over time hence avoiding the surgical removal. This implanted device continuously sends data regarding the brain health of the patients. Electrophysiological signals were tracked for 30 days by devices located on the surface of the brain cortex and the area between the skull and scalp.
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Over the years, the speed, efficacy, cost-effectiveness of brain monitoring devices have spread its usage across all clinical applications, from epilepsy, stroke, dementia, TBI and other applications to surgeries and anaesthesia and so on.
The brain monitoring devices global market is expected to grow at mid single digit CAGR to reach $10,011.5 million by 2023. Brain monitoring devices market is mainly classified into products, application and end-users.
The product classification consists of electroencephalography (EEG) devices, magnetoencephalography (MEG) devices, transcranial Doppler sonography (TCD) devices, intracranial pressure (ICP) monitors, cerebral oximeters, magnetic resonance imaging (MRI) devices, computerized tomography (CT) devices, positron emission tomography (PET) devices, sleep monitoring devices and accessories. The electroencephalography devices market is further segmented into by product type which includes 8-channel, 21-channel, 25-channel, 32-channel, 40-channel and multi-channel and by modality includes standalone/fixed EEG devices and portable EEG devices. The magnetic resonance imaging is divided based upon technology into low and middle field MRI, high field MRI and very high field MRI. Finally computed tomography devices is further classified into low slice CT, medium slice CT and high slice CT depending on the technology.
The global brain monitoring devices market by application is segmented into neurodegenerative disorders, brain tumor, sleep disorders, psychiatric behavioural disorders and other applications. The neurodegenerative disorders is sub segmented into epilepsy, Parkinson’s disease, Huntington’s disease, stroke, traumatic brain injury (TBI) and dementia whereas sleep disorders is sub classified into sleep apnea, insomnia, hypersomnia and sleep movement disorders. Psychiatric behavioural disorders are sub divided into autism, schizophrenia, dyslexia, bipolar disorders and depression. Other application is sub segmented into surgery, headache disorders, anesthesia and hydrocephalus.
The end-users of brain monitoring devices market are hospitals, home care, ambulatory surgical centers and clinics, diagnostic centers and other end users.
Among the devices market, the sleep monitoring devices segment dominated the market by occupying a largest share and cerebral oximeters market is the fastest growing segment from 2016 to 2023. Likewise, under applications section neurodegenerative disorders segment holds the largest share and also the fastest growing segment from 2016 to 2023. By end-users, hospital is the largest segment and is the fastest segment growing segment from 2016 to 2023. Geographical wise, North America is the largest market share followed by Europe, Asia-Pacific and Rest of the World. The Asia region is the fastest growing region from 2016 to 2023 suggesting an array of opportunities for growth and likely to be getting into the eyes of new investors in the brain monitoring devices market. Growth in the Asian market is attributed to rising prevalence of neurological diseases, government initiatives in establishing innovative technologies and demand for sophisticated medical services.
The brain monitoring devices global market is expected to grow at mid single digit CAGR from 2016 to 2023. The factors driving the growth of this market are growing incidence and prevalence of neurological disorders, rising awareness about neurodegenerative disorders, technological advancements/innovations offering wider scope of application for brain monitoring devices and growing healthcare spending.
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While increasing focus on minimally invasive brain monitoring procedure and extended application of devices in clinical trials are some of the opportunities that are propelling the growth of the market. However shortage of trained professionals, high cost of complex devices, unfavourable reimbursement policies, stringent regulatory guidelines and competition from local players in emerging markets are hampering the growth of the market.
The brain monitoring devices global market is a fragmented market whereas each product devices is highly consolidated and all the existing players in this market are involved in developing new and advanced products to maintain their market shares. Some of the key players of the brain monitoring devices market are Advanced Brain Monitoring (U.S.), Cadwell laboratories (U.S.), CAS Medicals Inc.(U.S), Compumedics Limited (Australia), Electrical Geodesics Incorporated (U.S.), Elekta AB (Sweden), GE Healthcare (U.S.), Integra Lifesciences (U.S.), Koninklijke Philips N.V. (Netherland), Masimo corporation (U.S.), Medtronic (Ireland), Natus Medical Inc.(U.S.), Nihon Kohden Corporation (Japan) and Siemens Healthineers (Germany).
The report provides an in depth market analysis of the above mentioned segments across the following regions:
- North America
- Europe
- Asia-Pacific
- Rest of the World (RoW)
Table of Content
1 EXCEUTIVE SUMMARY 33
2 INTRODUCTION 50
3 MARKET ANALYSIS 66
4 BRAIN MONITORING DEVICES GLOBAL MARKET, BY PRODUCTS 128
5 BRAIN MONITORING DEVICES GLOBAL MARKET, BY APPLICATIONS 188
6 BRAIN MONITORING DEVICES GLOBAL MARKET, BY END-USERS 248
7 REGIONAL ANALYSIS 262
8 COMPETITIVE LANDSCAPE 360
9 MAJOR COMPANIES 383
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