Intracranial Pressure Monitors Market to reach US$ 1.63 Bn by 2023
According to a new market report
published by Transparency Market Research “Intracranial
Pressure Monitors Market - Global Industry Analysis, Size, Share, Growth,
Trends, and Forecast 2015 - 2023”, the global intracranial pressure monitors
market was valued at US$ 0.94 Bn in 2014 and is projected to reach US$ 1.63 Bn
in 2023 at a CAGR of 6.3% from 2015 to 2023.
Intracranial pressure (ICP)
monitors are devices that help measure the pressure inside the skull. This
monitoring consequently assists in treating severe traumatic brain injury. ICP
monitoring help doctors to determine brain swelling and drain the cerebrospinal
fluid to an extent that prevents oxygen deprivation. Catheter-tip pressure
transducer is the most preferred device to record intracranial pressure.
Major growth drivers of the
intracranial pressure monitors market include rising prevalence of neurological
disorders and traumatic injuries. According to the World Heart Federation,
sudden rise in the cardiovascular diseases has led to increased incidence of
stroke across the world. Around 1.3 million people suffer from stroke each year
in China alone. Developing regions such as Latin America, the Middle East, and
Sub-Saharan Africa where stroke mortality is set to triple in the next few
years are expected to witness increased hospitalization and permanently
disabled individuals each year. This has fueled demand for technologically
advanced intracranial pressure monitors. According to the World Health
Organization, high blood pressure is responsible for more than 12.7 million
strokes across the world every year. Road accidents and violence are the most common
causes of cranial injuries and head traumas besides slips, falls, and
industrial accidents.
The Centers for Medicare &
Medicaid Services revealed that health care spending in the U.S. increased by
5% in 2014 as compared to 3.6% in 2013. This acts as evidence that government
expenditure for better health care services and technological advancements have
increased significantly to bring out an evolution in treatment methods for
cerebrovascular diseases, which led to increased life expectancy and cost of
treatment. Developing countries such as India and China have started catching
up to provide better health care services to their large population base.
Based on device type, external
ventricular drainage systems was the largest segment of the intracranial
pressure monitors market, accounting for a share of 52.4% in 2014, as these
systems are easy to operate, inexpensive, and reliable, and are preferred by
neurosurgeons. However, the microtransducer ICP monitoring devices segment is
expected to expand at a higher growth rate during the forecast period due to
accurate measurements and lowest zero drift characteristics.
In terms of application, the
traumatic brain injury segment held the largest share of the intracranial
pressure monitors market in 2014. The segment is expected to continue its
dominance due to global elevation in the incidence of traumatic brain injuries.
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Increasing number of critically ill patients and availability of trained health care experts is driving demand for trauma centers for intracranial pressure monitoring during the forecast period. The global intracranial pressure monitors market exhibits intense competition among existing players as the market shifts from invasive pressure monitors to non-invasive pressure monitors. Key players in the global intracranial pressure monitors markets are CAS Medical Systems, Inc., Codman & Shurtleff, Inc., Haiying Medical, HeadSense Medical, Inc., Integra LifeSciences Corporation, Medtronic plc, Raumedic AG, SOPHYSA, and Spiegelberg GmbH & Co. KG.
The global intracranial
pressure monitors market has been segmented as follows:
Intracranial
Pressure Monitors Market, by Type
·
External
Ventricular Drainage System
·
Lumbar
Drainage System
·
Microtransducer
ICP Monitoring Devices
o Fiber Optic Devices
o Strain Gauge Devices
o Pneumatic Sensors
·
Non-invasive
ICP Monitoring System
Intracranial
Pressure Monitors Market, by Application
·
Traumatic
Brain Injury
·
Intracerebral
Hemorrhage
·
Meningitis
·
Subarachnoid
Hemorrhage
·
Others
Global
Intracranial Pressure Monitors Market, by End-user
·
Trauma
Centers
·
Hospitals
Global
Intracranial Pressure Monitors Market, by Geography
·
North
America
·
Europe
·
Asia
Pacific
·
Rest
of the World (RoW)
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