Neurology Monitoring Market: Geographic Segmentation, Statistical Forecast and Competitive Analysis to 2030 | Masimo Corporation, Drägerwerk AG & Co. KgaA, Advanced Brain Monitoring Inc., Medtronic plc

Globally, the market for neurology monitoring was priced at US$ 5,618.9 million in the year 2022 and is predicted to the extent US$ 8,415.3 million at a CAGR of 5.9% from 2023 to 2030. The market for neurology monitoring is observing robust development owing to the rise in occurrence of disorders related to neurology and rise in need for the devices to monitor the patients suffering from neurology. Furthermore, increasing occurrence of traumatic injuries of brain and the increasing elderly population worldwide is anticipated to fuel the market growth. Though, factors like expensive cost of neurology monitoring devices and the deficit of expert personnel are the main factor anticipated to hinder the market growth of neurology monitoring.

Global Market for Neurology Monitoring: Regional Insights

On the basis of geography, the market for neurology monitoring is classified into Asia Pacific, Egypt, North America, Latin America and Middle East & Africa.

Based on regions, North America is anticipated to own the major market share in the predicted period due to the increase in the problem of neurological disorders and rise in need for the devices to monitor neurology in this region. For example, as per Alzheimer’s Association, the Americans, people living in America have Alzheimer and this number is increasing at a very rapid pace. Over 6 Mn Americans of all age groups have Alzheimer’s. It is an advanced disorder that results in atropy which is the brain shrinkage and death of brain cell. This raises the need for the devices of neurological monitoring in this region

Asia Pacific is anticipated observing strong market growth in the neurological monitoring worldwide owing to the rise of traumatic injuries of brain, increase in need for neurology monitors and increasing elderly (geriatric)population in the region. For example, as per NCBI (National Center for Biotechnology Information), shocking injuries of brain are the main cause of mortality, morbidity, disability and socio-economic losses in India and other evolving countries. More than, 1.5-2 Mn people are wounded and 1 Mn surrender to death each year in India, This is raising the need for neurology monitoring in this region.

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Global Market for Neurology Monitoring Drivers

Increase in problem of neurological disorders to enhance the growth of the market

The main factor anticipated to increase the market growth of the neurology monitoring in the predicted period is the rise in occurrence of neurological disorders worldwide. For example, with the increase in problem of neurological disorders, the need for neurological disorders is also rising. As per Parkinson’s News Today, issued in 2021, a projected 7-10 Mn people worldwide have the disease of Parkinson. Over 60,000 people in the United States have been identified with Parkinson disease, which has resulted to a increasing need for neurology monitors in the United States.

High need for neurology monitors to support the growth of the market

The other factor which is pushing the market growth of the neurology monitoring worldwide is the high need for the devices to monitor the patients having neurological problems. For example, the need for neurology patient monitoring is rising owing to rise in the problem of neurological disorders. Braintale in March 2022 pronounced the introduction of brainTale-care which is a digital platform devoted to monitor and predict the disorders of neurology. The aim of Braintale’s is to offer resuscitators and neurologists with advanced, non-invasive, medically authenticated explanations to mend the conclusion, nursing and forecasting of neurological disorders.

Global Market for Neurology Monitoring Opportunities

Increasing prevalence of shocking injuries of brain is anticipated to provide substantial opportunities of growth for the operating companies in the market of neurology monitoring worldwide. For example, TBIs (traumatic brain injuries) are the main reason of disability and death. The main aim of observing the patient with traumatic brain injury is to avert ancillary insults to the brain, mainly cerebral ischemia. As per StatPearls data issued in January 2022, over 1.7 Mn person in the U.S. suffering from TBI( traumatic brain injury); adolescent from age 15-19 years and adults from age 65 years and above are more prone to bear the TBI (Traumatic Brain Injury)

Increasing elderly population worldwide is anticipated to provide opportunities of growth for the companies operating in the market of neurology monitoring. For example, aging is the most vital factor of risk for most diseases which are neurodegenerative in nature like Alzheimer and Parkinson disease since aged brains are susceptible to such diseases more likely. As per Alzheimer’s Association, a projected 6.5 Mn people in the U.S. with age 65 years and more were having Alzheimer in the year 2022. 73% are of 75 years and more. This is raising the need for neurology monitors in this region, pushing the market growth.

Global Market for Neurology Monitoring Trends

Rising number of product consents is a new trend

There has been a substantial rise in the number of product consents in the past few year owing to the increase in the problem of neurological diseases and increase in need for neurology monitors across the world. The United States Food and Drugs Administration (US FDA) has permitted the number of devices for neurology monitoring in the past few years which has a constructive effect on the market growth of the neurology monitoring worldwide. This trend is anticipated to last in the predicted period.

Rise in problem of sleep disorders is another new fashion

Sleep apnea, insomnia, restless legs syndrome and narcolepsy are common disorders of sleep. Among which, insomnia impacts a greater population across the world. Insomnia is the disorder of sleep which makes difficult to fall asleep, difficulty in getting back to sleep, results in waking up too early, and difficulty in falling asleep all over again. With the rise in the problem of disorder in sleep, the need for monitoring neurology is also rising. This tendency is anticipated to last in the predicted period, pushing the market growth.

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Global Market for Neurology Monitoring Restraints

High monitoring cost of devices to hinder the growth of the market

The main factor anticipated to hinder the market growth of the neurology monitoring worldwide is the high monitoring cost of NMD (neurology monitoring devices). For example, the kind of monitoring neurology can differ substantially owing to various factors which raise the cost of various devices for monitoring neurology patients. The average cost of a generic EEG is about US$ 200-700; this technique can be as expensive as US$ 3,000 for a comprehensive observation. The MRI cost also differs as per place where testing was performed, the image of the body part, and other issues.

Shortage of expert personnel to hamper the growth of the market

The other factor which is hindering the market growth of the monitoring of the neurology is the dearth of experienced personnel. As the equipment for monitoring neurology is sophisticated, it is probably to be controlled by trained professionals at the time of operations. Age becomes a hampering factor for neurology monitoring technicians as the task needs more physical labor because the employee requires carrying and pushing heavy equipment that may be a factor for ageing personnel. This is anticipated to restrict the market growth of the neurology monitoring.

Global Market for Neurology Monitoring Segmentation

Globally, the market report for neurological monitoring is classified into Product Type, Disease Type and Geography

On the basis of type of product, the market for neurology monitoring is divided into Electroencephalography Devices, Intracranial Pressure Monitors, Magnetic Resonance Imaging (MRI) Devices, Cerebral Oximeters and Other Product Types. Among which, the market of Magnetic Resonance Imaging (MRI) Devices is anticipated to control the market of neurology monitoring in the predicted period and this is accredited to the rise in the problem of neurological diseases. Magnetic Resonance Imaging (MRI) Devices is the common used for devices in diagnosing and monitoring neurological diseases.

The segment of Electroencephalography Devices is anticipated to experience the substantial growth in the coming future and this is due to the rise in need for the devices of electroencephalography (EEG). Electroencephalography (EEG) inferences display alterations in the activity of the brain and are used in diagnosing conditions of brain.

On the basis of type of disease, the market is divided into Parkinson’s disease, Traumatic Brain Injury (TBI), Stroke, Epilepsy, Sleep Disorders, and Other Diseases. Among which, the market of TBI (Traumatic Brain Injury) is anticipated to control the market in the predicted period and this is credited to the increasing occurrence of TBI.

The segment of Parkinson’s disease is also anticipated to observe substantial development in the nearby future and this is due to the rising occurrence of Parkinson’s disease.

Global Market for Neurology Monitoring: Key Developments

Royal Philips in July 2022 got the USFDA consent for its SmartSpeed AI (Artificial Intelligence power-driven MR acceleration software. This AI power-driven Mr software enhances resolution till 65% and attains till 3 times in comparison to traditional MR scans.

Cerebriu and Siemens Healthineers in March 2022, moved into a collaboration to incorporate Cerebriu’s patented Smart Protocol for Brain MRI-workflow automation software with the MRI machines of Siemens Healthineers.

Compumedics Ltd. in January 2022 touched an important milestone in the continuing growth of its MEG business worldwide with the validation of its maiden MEG contract in Asia to the Tiajin CompumediNormal University (TJNU) in Tianjin, China.

Nihon Kohden in June 2021 introduced NK Network Care service program to make the most of network system backup it’s monitoring of patient and neurology equipment. The novel program packs 3 platforms to make the most of the hospital and the health system network, which includes NMS (Network Management System), NTA (Network Threat Analysis), and Security Information and Event Management (SIEM)

Global Market for Neurology Monitoring: Key Companies Insights

Globally, the market for neurology monitoring is very much aggressive in nature. This is credited to the rise in need for the devices of neurology monitoring, consequently, companies operating are emphasizing on introducing new products in the market.

The main companies operating in the market for neurology monitoring worldwide includes Masimo Corporation, Drägerwerk AG & Co. KgaA, Advanced Brain Monitoring Inc., Medtronic plc, Compumedics Limited, Siemens Healthcare GmbH, Koninklijke Philips N.V, Nihon Kohden Corporation, Natus Medical Incorporated, and General Electric Company (GE Healthcare).

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Table of Content

Chapter 1 Industry Overview
1.1 Definition
1.2 Assumptions
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Neurology Monitoring Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: Neurology Monitoring Industry Impact

Chapter 2 Global Neurology Monitoring Competition by Types, Applications, and Top Regions and Countries
2.1 Global Neurology Monitoring (Volume and Value) by Type
2.3 Global Neurology Monitoring (Volume and Value) by Regions

Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis

Chapter 4 Global Neurology Monitoring Sales, Consumption, Export, Import by Regions (2017-2022)
Chapter 5 North America Neurology Monitoring Market Analysis
Chapter 6 East Asia Neurology Monitoring Market Analysis
Chapter 7 Europe Neurology Monitoring Market Analysis
Chapter 8 South Asia Neurology Monitoring Market Analysis
Chapter 9 Southeast Asia Neurology Monitoring Market Analysis
Chapter 10 Middle East Neurology Monitoring Market Analysis
Chapter 11 Africa Neurology Monitoring Market Analysis
Chapter 12 Oceania Neurology Monitoring Market Analysis
Chapter 13 South America Neurology Monitoring Market Analysis
Chapter 14 Company Profiles and Key Figures in Neurology Monitoring Business
Chapter 15 Global Neurology Monitoring Market Forecast (2023-2030)
Chapter 16 Conclusions
Research Methodology