SEATTLE, April 15, 2021, (MEDGADGET) — Brain monitoring devices are used to recognize and measure any abnormal activity brain cells (neurons) that is associated with neurological disorders such as Alzheimer’s disease, Parkinson’s disease, epilepsy, dementia, multiple sclerosis, sleep disorder, and brain tumor. These devices can monitor brain functions such as blood flow, pressure surrounding the brain, electrical and neural activity, gravity adjoining the brain, cerebral oxygen capacity, tumor, traumatic brain injury, and other conditions in order to help prevent fatal outcomes.
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Increasing stress level and rapid onset of aging are major factors that are expected to lead to high adoption of preemptive monitoring for the detection of neurological disorders. Early diagnosis and regular health check plays major role in treatment of brain diseases as the treatment is associated with high expenditure and risk of death due to high complexity in certain neurological conditions.
Brain Monitoring Market Potential
Lack of proper investment in the healthcare sector in emerging economies such as India, China, Brazil, Indonesia, and also certain developed countries such as Israel has resulted in low access to healthcare facilities in rural areas of these countries. Therefore, a significant number of people do not get proper and timely healthcare facilities. Several economies witness increasing incidence of brain injuries, strokes, and other brain disorders. Such scenario increases demand for increasing number of healthcare facilities in emerging economies, which is expected to create lucrative growth opportunities for the players in the global brain monitoring market over the forecast period.
Key statistics pertaining to the global brain monitoring market:
- The International Brain Injury Association states that brain injury is the leading cause of death and disability worldwide
- According to the Centers for Disease Control and Prevention (CDC), traumatic brain injury led to around 2.8 million emergency department visits, hospitalizations, and deaths in in the U.S. in 2013
- The Alzheimer’s Association estimates that prevalence of Alzheimer’s disease in 2016 was nearly 5.4 million in the U.S. (5.2 million are aged 65 years and above)
- Furthermore, the CDC estimates that every year, stroke results in over 130,000 deaths in the U.S.
- National Institute of Mental Health and Neuro Sciences (2015-16 survey) estimated that mental morbidity of population above 18 years of age was 10.6% in India (higher in urban metros)
Therefore, increasing prevalence of neurological disorders and favorable government initiatives and regulations that aid in prevention and treatment of such disorders is expected to boost growth of the global brain monitoring market.
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Brain monitoring market taxonomy
The global brain monitoring market is analyzed on the basis of product type, end-user, and application. The different product types of brain monitoring are:
- Electroencephalography (EEG) Devices
- Electromyography (EMG) Devices
- Magnetoencephalography (MEG) Devices
- Sleep Monitoring Devices
- Cerebral Oximeters
- Transcranial Doppler (TCD) Devices
- Intracranial Pressure (ICP) Monitors
- Magnetic Resonance Imaging (MRI) Devices
- Computerized Tomography (CT) Devices
- Positron Emission Tomography (PET) Devices
On the basis of application, the global brain monitoring market is segmented into epilepsy, dementia, Huntington’s disease, Parkinson’s disease, stroke, traumatic brain injuries, headache disorders, sleep disorders, and others. On the basis of end user the global market of brain monitoring market is segmented into hospitals, neurological centers, diagnostic centers, ambulatory surgical centers, and others. Hospitals are the major end users, as they have a considerably high patient flow, high investment capacity, and wide availability of healthcare resources to effectively serve the patient’s need.
Non-invasive brain monitoring modalities offer better convenience, safety, and cost-effectiveness compared to invasive brain monitoring devices, which increases demand for the former. Key players in the market are focused on developing non-invasive devices and technologies to enhance their market share. Devices such as portable brain injury scanner increases patient convenience, thereby aiding in growth of the brain monitoring market during the forecast period (2016–2024).
Plethora of untapped opportunities in emerging economies
The economic and social burden of neurological disorders is high in emerging economies. Therefore, major government and private organizations are focused on reducing this burden. For instance, the World Health Organization (WHO) has devised a Mental Health Action Plan 2013-2020 with certain objectives in order to provide comprehensive responsive mental health and social care services to the global population. Key players in the market can focus on expanding in Asia Pacific, Middle East, Latin America, and Africa regions for their brain monitoring modalities and services by offering low-cost products and collaborating with local healthcare facilities. More advanced monitoring devices that are compatible with rapidly changing technology is the requirement in developed regions of North America and Western Europe. This in turn requires R&D and time for commercialization, until which market players can focus on offering their existing products in emerging economies to enhance their market share. Such scenario gives rise to a highly conducive environment for growth of the global brain monitoring market over the forecast period.
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Major players operating in the global brain monitoring market include BrainScope Company, Inc., Neural Analytics, GE Healthcare, InfraSacn, Inc., Elekta A.B., Siemens Healthineers, Philips Healthcare, Natus Medical, Medtronic, Neurosoft Limited, and Cadwell Laboratories.
- Increasing number of startups developing wearable brain monitoring devices is expected to boost the market growth. For instance, in May 2018, University of Pennsylvania researchers that developed a prototype of a portable electroencephalogram (EEG) started Cogwear, LLC for commercialization of the device.
- Major regulatory bodies are focused on updating guidance for the use of brain monitoring devices. For instance, in August 2019, the U.S. FDA updated guidance on devices in the magnetic resonance environment.
- Major research institutes are focused on developing novel approaches for brain monitoring, which is expected to offer lucrative growth opportunities for market players. For instance, researchers from Loma Linda University started a research related to neural state monitoring in the treatment of epilepsy that focused on prediction of seizure.
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