New York, United States, May 25, 2022 (GLOBE NEWSWIRE) -- The research specialists from Strategic Market Research have delineated that the Market for Intracranial Pressure Monitoring was worth USD 1.3 billion in 2020. It is predicted to reach a remarkable benchmark of around USD 2.37 billion by 2030, with a CAGR of nearly 6.2 % throughout the forecasted time frame. Let us make you accustomed to the pivotal statics provided below.
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The report laid out by Strategic Market Research on Intracranial Pressure Monitoring Market is classified based on:
Techniques:
· Invasive Intracranial Pressure Monitoring
- External Ventricular Drainage (EVD)
- Microtransducer ICP Monitoring
· Non-invasive Intracranial Pressure Monitoring
- Transcranial Doppler Ultrasonography
- Tympanic Membrane Displacement
- Optic Nerve Sheath Diameter
- MRI/CT
- Others
Applications:
- Traumatic Brain Injury (TBI)
- Hydrocephalus
- Subarachnoid hemorrhage
- Cerebral Edema
- Malignant Cerebral Infarction (MCI)
- Intracerebral Hemorrhage
- CNS infections
- Others
End-User:
- Hospitals
- Trauma Centers
- Ambulatory Surgical Centers
- Neurosurgery Centers
Regions:
North America
- USA
- Mexico
- Canada
- Rest of North America
Europe
- Germany
- France
- Russia
- Switzerland
- U.K
- Finland
- Turkey
- Netherlands
- Belgium
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- India
- Indonesia
- Thailand
- Japan
- South Korea
- Singapore
- Malaysia
- Philippines
- Australia
- New Zealand
- Rest of APAC
LAMEA
- Brazil
- Saudi Arabia
- Uruguay
- Argentina
- Rest of LAMEA
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Key Factors boosting the Market Growth:
· The major factor responsible for the propulsion of the market is the continuous increase in people suffering from various neurological illnesses. In one of its surveys, BIAA (the Brain Injury Association of America) asserted that a brain injury occurs every nine seconds in the USA, thus resulting in approximately 3.5 million injuries per year.
· Apart from the rise of neurological illnesses, the loss of skull elasticity and the rise of traumatic brain injuries (TBI) due to broken skull bones also influence the market growth. BIAA (the Brain Injury Association of America) elucidated that around 2.8 million people in the U.S suffer from TBI each year, out of which around 280,000 people require hospitalization. On the other hand, CDC reported that, in 2020, there were around 176 deaths per day in the USA due to TBI and people who were more than 75 years old constituted nearly 28% of the overall fatality rates.
· Moreover, the rise in the number of road accidents across the globe are also proliferating the market growth to a great extent. The World Health Organization has stated that more than 1.3 million people die from road accidents each year.
In terms of Techniques, the ‘Invasive Intracranial Pressure Monitoring’ Segment dominated the market Comprehensively in 2020.
By Techniques, the market is segregated into Invasive Intracranial Pressure Monitoring (External Ventricular Drainage (EVD), Microtransducer ICP Monitoring), and Non-invasive Intracranial Pressure Monitoring ( Tympanic Membrane Displacement, Transcranial Doppler Ultrasonography,Optic Nerve Sheath Diameter, MRI/CT, and Others). The ‘Invasive Intracranial Pressure Monitoring’ segment held the most significant market share of around 80.9% in 2020 because of the rise in the probability of aortic fragility, cerebral amyloid angiopathy (CAA), hemodynamic instability, as well as the unpredictability associated with the hypothermic CPB with nonpulsatile blood flow. The National Library of Medicine stated that cerebral amyloid angiopathy (CAA) has become more common with the rise in age, and 50% of the population above the age of 70 have CAA. Moreover, the risk rate of cerebral bleeding is seven out of 10.
In terms of Applications, the Traumatic Brain Injury (TBI) segment dominated the Market Growth in 2020
For Applications, the market has been broadly ramified into Traumatic Brain Injury (TBI), Hydrocephalus, Subarachnoid haemorrhage, Cerebral Edema, Malignant Cerebral Infarction (MCI), Intracerebral Haemorrhage, CNS infections, and others). The ' Traumatic Brain Injury (TBI)' segment held the highest market share of approximately 26.8%. Due to TBI, the intracranial pressure increases, & it can be accurately detected with the help of an intraparenchymal pressure monitor that drives the need for these devices worldwide, which in turn is fuelling the growth of this segment. The CDC has stated that approximately 5.3 million men, women, & children in the United States live with a permanent TBI-related disability.
By End-User, the ‘Hospital’ Segment held the most Significant Market Share.
Based on End-User, the market has been broadly divided into Hospitals, Trauma Centers, Ambulatory Surgical Centers, & Neurosurgery Centers. The ' Hospitals' held the most significant market share in 2020. The availability of the highly advanced ICP devices and the increase of patient admissions per year are driving the growth of this segment widely across the globe.
Moreover, the Trauma centers held the fastest growth rate throughout the estimated period of 2020-2030. The continuous rise in demand for multi-disciplinary emergency medical services is augmenting this segment's growth. Besides that, the trauma surgeons undergo advanced training for adequately handling the trauma cases that are critical and invasive. As per the US Department of Veteran Affairs, almost 6 out of every ten men (or 60%) & 5 out of every ten women (or 50%) experience at least one trauma condition in their lifetime.
North America continued its Sheer Dominance in the Intracranial Pressure Monitoring Market:-
On a regional basis, North America was regarded as the most dominant region in 2020, with an overall share of around 37.64%. The rising cases of TBI is the major factor that is driving the market growth extensively in this region. The Brain Trauma Foundation has asserted that traumatic brain injury (TBI) is a leading cause of mortality in the USA, accounting for nearly 30% of fatalities.
However, due to the tremendous prospects of the market participants to build their presence in countries like China and India, the Asia Pacific is by far the most focused & fastest-growing region, with a CAGR of around 7.67 %.
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The list of Pertinent Players prevailing in the Intracranial Pressure Monitoring Market is as follows:
- Integra Lifesciences Corporation
- Sophysa Ltd
- Medtronic Plc.
- Natus Medical Incorporated
- DePuy Synthes
- IRRAS AB
- Spiegelberg GmbH & Co
- RAUMEDIC, Inc
- Gaeltec devices Ltd
- Nisonic
- Focus Medical Group Inc.
- Headsense Medical Inc.
- Linet
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Recent Developments:
· On 23rd June 2021, Epipole, a video retinal imaging organization, proposed a project called Eurostar worth €1.1 million, to develop a technology solution for the diagnosis of intracranial pressure (ICP). This Eurostar project would combine Statumanu’s AI software with Epipole’s handheld video ophthalmoscope technology, which can easily assess the images of the blood vessels present in the retina to provide instant assessment & continuous monitoring of the changes in ICP.
· On 8th June 2021, a group of Brazilian researchers validated the various non-invasive intracranial pressure monitoring methods and stated that high BP is one of the major causes of increased intracranial pressure. Based on this, they proposed a highly effective treatment for intracranial pressure. FAPESP supported this research study, and it also involved the collaboration between the researchers at Sao Paulo State University (UNESP) & Brain4care.
· On 14th April 2021, NovaSignal Corp. announced the launching of its NovaGuideTM 2 Platform, which provided the physicians with crucial, real-time information regarding the cerebral blood flow to help in guiding the ICP diagnosis procedures & improving the patient outcomes.
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