January 12, 2022
According to the research report titled ‘Global Brain Monitoring Market Size study, by Product Type (MRI scanners, CT scanners, EEG Condition, PET scanners, TCD Condition, MEG Condition, ICP monitors, Cerebral oximeters, EMG Condition), by Medical Condition (Traumatic brain injury, Stroke, Dementia, Headache disorders, Sleep disorders, Parkinson's disease, Epilepsy, Huntington's disease, Other medical conditions), by End use (Hospital. Neurology Centres, Ambulatory surgery center & clinics, Diagnostic centres, Other end user), and Regional Forecasts 2021-2027’, available with MarketStudyReport, global brain monitoring market was worth USD 5.48 billion in 2020 and is anticipated to record a CAGR of 6.7% over 2021-2027 to reach a valuation of USD 8.63 billion by the end of forecast period.
Growing incidence and prevalence of neurological illnesses, as well as the rising frequency of traumatic brain injuries are driving global brain monitoring market growth. Furthermore, rising demand for non-invasive and minimally invasive technologies, and development of various therapeutic applications of brain monitoring equipment will provide new opportunities for the industry.
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According to data provided by the WHO, more than 55 million individuals worldwide have been suffering from dementia in 2021, with roughly 10 million new cases diagnosed each year.
For the unversed, brain monitoring is an EEG test that is used to detect various risks of hemorrhage and infection, as well as to record any type of brain activity.
Rise in various neurological diseases will propel the demand for brain monitoring for providing effective treatment, which will serve as a spur for the market in the future.
However, the high cost of complicated brain monitoring methods and devices, as well as unfavorable reimbursement regulations, may stifle industry growth during 2021-2027.
On the basis of product terrain, worldwide brain monitoring industry is divided into EMG condition, cerebral oximeters, ICP monitors, MEG condition, TCD condition, PET scanners, EEG condition, MRI scanners, CT scanners.
In terms of medical condition, the marketplace is branched into Huntington’s disease, epilepsy, Parkinson’s disease, sleep disorders, headache disorders, dementia, stroke, traumatic brain injury, and other medical conditions.
Based on end-user spectrum, the industry is classified into diagnostic centers, ambulatory surgical center & clinics, neurology centers, hospital, and others.
Considering the regional landscape, the market spans across North America, Europe, Asia Pacific, and Latin America. Among these, North America is slated to register a notable CAGR over the forecast period, owing to increase in the incidence of neurological illnesses, growing number of clinical studies of brain monitoring technologies as well as availability of medical reimbursement in the United States.
Key players in global brain monitoring marketplace are Advanced Brain Monitoring, Inc., Edwards Lifesciences Corp., Medtronic plc, Compumedics Limited, Siemens Healthineers AG, GE Healthcare, Koninklijke Philips N.V., Nihon Kohden Corp., and Natus Medical Inc.