Upswing in Brain injuries Demands Increased Application of Intracranial Pressure Monitors
The increased prevalence of traumatic injuries and strokes has laid the ground for the immense rise of the global intracranial pressure monitors market. The upswing in the cases of brain injuries in children as well as adults has also boosted the demand for intracranial pressure monitoring remarkably across the world. However, the biggest influence on this market, which stood at US$0.94 bn in 2014, has been accredited to the substantial shift from invasive pressure monitors to non-invasive pressure monitors. This trend is expected to have an enduring effect on the dynamics of demand and supply of these monitors.
Transparency Market Research expects this market to rise at a CAGR of 6.30% between 2015 and 2023, with business opportunity reaching US$1.63 bn by the end of 2023. Untapped developing countries are anticipated to present opportunity-rich market for participants in the global market for intracranial pressure monitors.
A significant growth can be witnessed in the demand for intracranial pressure monitors with their increasing application in the detection and management of various cerebrovascular disorders such as meningitis, traumatic brain injury, brain tumor, and intracerebral hemorrhage.
In 2013, the traumatic brain injury segment accounted for the biggest share in the demand for intracranial pressure monitors. TMR projects this segment to rise at a rapid CAGR of 7.70% between 2015 and 2023. The increase in violence, rising industrial as well as road accidents, and rising number of reports related to head injuries due to sports and recreational activities are the prime reasons behind the growing prevalence of traumatic brain injuries.
Growing Prevalence of Traumatic Injuries Fuels Demand for Intracranial Pressure Monitors in North America
The market for intracranial pressure monitors stretches across North America, Europe, Asia Pacific, and the Rest of the World. North America has surfaced as the biggest contributor to the intracranial monitor consumption since the past few years. The increasing prevalence of neurological disorders and traumatic injuries have amplified the application of these monitors in this region. Additionally, technical advancements in the field of pressure monitoring are expected to influence the sales volume of these monitors considerably in North America over the coming years.
Although North America will remain the leading regional market for intracranial pressure monitors during the forecast period, Asia Pacific will offer the most profitable opportunities to market players, on account of the presence of a large number of untapped markets.
Apart from this, the augmenting incidence of cerebrovascular disorders, fuelled by the increasing base of geriatric population, and the rising expenditure on healthcare, owing to surging disposable income, are also projected to boost the demand for these monitors in the near future. Europe holds the second position in the worldwide intracranial pressure monitors market.
Integra LifeSciences Corp., Medtronic Inc., and Codman & Shurtleff Inc. are leading the global intracranial pressure monitors market. The collective share of these three companies in the overall market is 53.4%. Other prominent manufacturers of intracranial pressure monitors are Haiying Medical, HeadSense Medical Inc., Raumedic AG, Spiegelberg GmbH & Co. KG., and SOPHYSA.
Industry Players in Intracranial Pressure Monitors Market Focus on Severe TBI Management for Product Innovation
Intracranial pressure monitoring (ICP) monitoring is a diagnostic modality that has been traditionally used in quantifying cerebral perfusion pressure (CPP). Despite the fact that numerous invasive methods have emerged over the decades, ICP is still clinically relevant. It is increasingly used as a multimodal strategy for underlying pathophysiological process that needs treatment. Most prominently, ICP has gathered widespread demand for managing traumatic brain injury (TBI). The drive for the intracranial pressure monitors market stems from the trend of increasing attention of healthcare systems, especially in the developing and developed world, on the severity of TBI. The morbidity in developed nations such as the U.S. is high. Per a recent finding in an article in the NCBI, as many as 2% of the U.S. population are living with TBI-associated disability. Growing incidence of micro and macro vascular dysfunction, despite an observed normal value of ICP, has bolstered the prospects for new technologies in the intracranial pressure monitors market. The indications are growing in comatose patients and those with diffuse axonal injury (DAI); though, more evidence is needed for validating clinical effectiveness especially on the back of advancing CT care. The high risk of intracranial hypertension in TBI patients is another factor propelling demand. Growing demand for multimodal monitoring technologies that adhere to Brain Trauma Foundation (BTF) guidelines has led to the demand for ICP for improving patient outcomes.
The COVID-19 pandemic has triggered wide-ranging changes in business models across industries. While for some, the disruptions were a boon to accelerate their growth by transitioning to digital models earlier-than-expected, for some the upheavals proved nothing short of doomsday in 2020. The industry players in the intracranial pressure monitors market were considerably impacted by the short- and long-term microeconomics challenges faced by the medical sector. Medical device manufacturers have been severely impacted. Of note, they were forced to alter their strategic frameworks to stay agile on one hand and reap short-term gains that arose due to the health fallout of the pandemic.
Table of Content
Chapter 1 Introduction
1.1 Report Description
1.2 Research Methodology
1.3 Market Segmentation
Chapter 2 Executive Summary
2.1 Global Intracranial Pressure Monitors Market Revenue, 2013–2023 (US$ Mn).
2.2 Global Intracranial Pressure Monitors Market Share by Geography, 2014 and 2023 (Value %)
2.3 Global Intracranial Pressure Monitors Market, by Type, Application, and End-user, 2014 (US$ Mn)
2.4 Intracranial Pressure Monitors Market Snapshot
Chapter 3 Intracranial Pressure Monitors Market– Industry Analysis
3.1 Introduction
3.2 Intracranial Pressure Monitoring Devices
3.3 Market Dynamics
3.3.1 Constant rise in incidence of traumatic injuries
3.3.2 Increasing rate of stroke incidents worldwide.
3.3.3 Increased health care expenditure globally
3.4 Restraints
3.4.1 Infection associated with invasive nature of intracranial pressure monitors
3.5 Opportunity
3.5.1 Shift from invasive to non-invasive intracranial pressure monitoring devices
3.5.2 Emerging economies to offer sustained growth opportunities
3.6 Porter’s Five Forces Analysis
3.7 Intracranial Pressure Monitors Market, Market Share, by Key Players (2014) (%)
3.8 Market Attractiveness Analysis – Intracranial Pressure Monitors Market
Chapter 4 Market Segmentation – By Type
4.1 Introduction
4.2 Global External Ventricular Drainage System Market, 2013–2023 (US$ Mn)
4.3 Global Lumbar Drainage System Market, 2013–2023 (US$ Mn)
4.4 Global Microtransducer ICP Monitoring Devices Market, 2013–2023 (US$ Mn)
4.5 Global Non-Invasive ICP Monitoring Devices Market, 2013–2023 (US$ Mn)
4.6 Global Microtransducer ICP Monitoring Devices Market, 2013–2023 (US$ Mn)
4.6.1 Global Fiber Optic Devices Market, 2013–2023 (US$ Mn)
4.6.2 Global Strain Gauge Transducers Market, 2013–2023 (US$ Mn)
4.6.3 Global Pneumatic Transducers Market, 2013–2023 (US$ Mn)
Chapter 5 Market Segmentation – By Application
5.1 Introduction
5.2 Global Intracranial Pressure Monitors Market Revenue in Traumatic Brain Injury, 2013–2023 (US$ Mn)
5.3 Global Intracranial Pressure Monitors Market Revenue in Intracerebral Hemorrhage, 2013–2023 (US$ Mn)
5.4 Global Intracranial Pressure Monitors Market Revenue in Meningitis, 2013–2023 (US$ Mn)
5.5 Global Intracranial Pressure Monitors Market Revenue in Subarachnoid Hemorrhage, 2013–2023 (US$ Mn)
5.6 Global Intracranial Pressure Monitors Market Revenue in Other Applications, 2013–2023 (US$ Mn)
Chapter 6 Market Segmentation – By End-user
6.1 Introduction
6.2 Global Intracranial Pressure Monitors Market Revenue in Trauma Centers, 2013–2023 (US$ Mn)
6.3 Global Intracranial Pressure Monitors Market Revenue in Hospitals, 2013–2023 (US$ Mn)
Chapter 7 Intracranial Pressure Monitors Market - Regional Analysis
7.1 Global Intracranial Pressure Monitors Market: Regional Overview
7.2 North America Intracranial Pressure Monitors Market Revenue, by Countries, 2013-2023 (US$ Mn)
7.3 Europe Intracranial Pressure Monitors Market Overview
7.4 Asia Pacific Intracranial Pressure Monitors Market Overview
7.5 RoW Intracranial Pressure Monitors Market Overview
Chapter 8 Recommendations
8.1 Invest in rigorous R&D initiatives
8.2 Focus on developing economies
8.3 Focus on inorganic growth through mergers and acquisitions
Chapter 9 Company Profiles
9.1 Codman & Shurtleff, Inc.
9.1.1 Company Overview
9.1.2 Financial Overview
9.1.3 Product Portfolio
9.1.4 Business Strategies
9.1.5 Recent Development
9.2 Haiying Medical
9.3 HeadSense Medical, Inc.
9.4 Integra LifeSciences Corporation
9.5 Medtronic plc
9.6 Raumedic AG
9.7 SOPHYSA
9.8 Spiegelberg GmbH & Co. KG.
List of Tables
Table 1. Intracranial Pressure Monitors Market Snapshot
Table 2. Global Intracranial Pressure Monitors Market, by Type, 2013–2023 (US$ Mn)
Table 3. Global Microtransducer ICP Monitoring Devices Market, by Type, 2013–2023 (US$ Mn)
Table 4. Global Intracranial Pressure Monitors Market, by Application, 2013–2023 (US$ Mn)
Table 5. Global Intracranial Pressure Monitors: Market Revenue, by End-user, 2013–2023 (US$ Mn).
Table 6. Global Intracranial Pressure Monitors: Market Revenue, by Geography, 2013–2023 (US$ Mn).
List of Figures
FIG. 1 Global Intracranial Pressure Monitors Market Revenue, 2013–2023 (US$ Mn)
FIG. 2 Global Market Share by Geography, 2014 and 2023 (Value %)
FIG. 3 Global Intracranial Pressure Monitors Market, by Type, Application, and End-user, 2014 (US$ Mn)
FIG. 4 Porter’s Five Forces Analysis
FIG. 5 Market Share by Key Players: Intracranial Pressure Monitors (2014) (%)
FIG. 6 Market Attractiveness Analysis, By Geography (2014)
FIG. 7 Global External Ventricular Drainage system Market, 2013–2023 (US$ Mn)
FIG. 8 Global Lumbar Drainage System Market, 2013–2023 (US$ Mn)
FIG. 9 Global Microtransducer ICP Monitoring Devices Market, 2013–2023 (US$ Mn)
FIG. 10 Global Non-Invasive ICP Monitoring Devices Market, 2013–2023 (US$ Mn)
FIG. 11 Global Fiber Optic Devices Market, 2013–2023 (US$ Mn)
FIG. 12 Global Strain Gauge Transducers Market, 2013–2023 (US$ Mn)
FIG. 13 Global Pneumatic Sensors Market, 2013–2023 (US$ Mn)
FIG. 14 Global Intracranial Pressure Monitors Market Revenue in Traumatic Brain Injury, 2013–2023(US$ Mn)
FIG. 15 Global Intracranial Pressure Monitors Market Revenue in Intracerebral Hemorrhage, 2013–2023 (US$ Mn)
FIG. 16 Global Intracranial Pressure Monitors Market Revenue in Meningitis, 2013–2023 (US$ Mn)
FIG. 17 Global Intracranial Pressure Monitors Market in Subarachnoid Hemorrhage, 2013–2023 (US$ Mn)
FIG. 18 Global Intracranial Pressure Monitors Market Revenue in Other Applications, 2013–2023 (US$ Mn)
FIG. 19 Global Intracranial Pressure Monitors Market Revenue in Trauma Centers, 2013–2023 (US$ Mn)
FIG. 20 Global Intracranial Pressure Monitors Market Revenue in Hospitals, 2013–2023 (US$ Mn)
FIG. 21 North America Intracranial Pressure Monitors Market Revenue, 2013–2023 (US$ Mn)
FIG. 22 Europe Intracranial Pressure Monitors Market Revenue, 2013–2023 (US$ Mn)
FIG. 23 Asia Pacific Intracranial Pressure Monitors Market Revenue, 2013–2023 (US$ Mn)
FIG. 24 RoW Intracranial Pressure Monitors Market Revenue, 2013–2023 (US$ Mn)
FIG. 25 Integra LifeSciences Corporation: Financial Details, 2012–2014 (US$ Mn)
FIG. 26 Medtronic plc: Financial Details, 2012–2014 (US$ Mn)
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