Rockville , March 07, 2024 (GLOBE NEWSWIRE) -- The global intracranial pressure (ICP) monitoring market is expected to be worth US$ 251.5 million in 2024. The market is expected to increase at a 5.0% CAGR through 2034. By 2034, the market is expected to be worth US$ 410.4 million.
The intracranial pressure (ICP) monitoring market is expanding due to a number of factors. One of the primary reasons is the rise in traumatic brain injuries (TBIs) and neurological illnesses. As the population ages, neurological illnesses such as Alzheimer's and Parkinson's disease become more common, boosting the demand for ICP monitoring equipment. Furthermore, technological improvements, such as the development of non-invasive ICP monitoring devices, are projected to fuel market expansion.
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The development of non-invasive ICP monitoring technologies, which are less uncomfortable and risky than previous invasive approaches, is driving the market forward. This has even stimulated the demand for ICP monitoring devices in the healthcare sector. Furthermore, prominent players' rising spending on research and development (R&D) initiatives to develop innovative products and expand their product portfolios are expected to drive market growth in the coming years.
The high cost of equipment and the lack of qualified specialists to perform the pressure monitoring process can obstruct market growth. This can restrict access to technology, particularly in locations with limited healthcare resources or where insurance does not cover costs.
| Report Attribute | Details |
| Value Projection (2034) | US$ 410.4 million |
| Growth Rate (2024-2034) | 5.0% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 32 Tables |
| No. of Figures | 160 Figures |
“The intracranial pressure monitoring market is expanding significantly as the prevalence of neurological conditions such as traumatic brain injuries, strokes, and brain tumors rises. These conditions can cause an increase in intracranial pressure (ICP), resulting in severe brain injury or even death. As a result, ICP monitoring is critical in the treatment, driving the market forward," says a Fact.MR analyst.
Key Companies Profiled in This Report
- Sophysa Ltd.
- Spiegelberg
- Integra LifeSciences
- HeadSense Medical
- Medtronic
- Raumedic
- Johnson and Johnson
- Vittamed
Key Takeaways from the Market Study
- The global intracranial pressure (ICP) monitoring is projected to expand at a CAGR of 5.0% from 2024 to 2034.
- The North American intracranial pressure (ICP) monitoring is expected to grow at a CAGR of 5.4% from 2024 to 2034.
- The market is expected to register a CAGR of 5.4% in the United States over the forecast period.
- The intracranial pressure (ICP) monitoring industry in China is expected to rise at a CAGR of 4.6% through 2034.
- Based on the product type, the ICP monitoring segment leads the market, with an expected share of 85.6% in 2024.
Competitive Landscape
The intracranial pressure monitoring market has a diverse and constantly evolving competitive landscape. Market players highly emphasize enhancing pricing, product quality, customer service, and innovation. Major players provide a wide range of intracranial pressure monitoring products and services, including devices, software, and accessories.
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Country-wise Insights
In accordance with growing regional sales, the intracranial pressure (ICP) monitoring market is dominated by North America and East Asia. By 2024, North America is expected to account for 58.4% of the global market. From 2024 to 2034, the region's market is predicted to grow at a moderate 5.4% CAGR, reaching 60.5% by the end of 2034.
East Asia is predicted to account for a large portion of the market. In 2024, East Asia's market share is expected to reach 15.4%. During the projected period, East Asia's market is expected to grow at a 4.4% CAGR, with the region maintaining a 14.5% share by the end of the term.
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About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
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