Intracranial Pressure Monitoring Devices Market to amass $600 Mn by 2024

October 01, 2019

As per the recent research report titled ‘Global Intracranial Pressure (ICP) Monitoring Devices Market Growth 2019-2024’ available with Market Study Report LLC, the worldwide intracranial pressure (ICP) monitoring devices market is predicted to reach US $600 million by the year 2024.

Intracranial pressure monitors are used for measuring pressure inside the skull of patients having an issue of elevated ICP. These devices are placed inside patients through various procedures, such as, intraventricular, epidural and others. Growing number of accidents and increasing instances of neurological disorders, along with greater awareness regarding the availability of various treatments and medical advancements are the major factors augmenting the ICP monitoring devices market growth.

The research analyses the market based on various segmentation like by type, by application and by region. On the basis of type, the ICP monitoring devices market is divided as non-invasive ICP devices and invasive ICP devices, where the later segment held 87.7% share in 2016.

Speaking of application spectrum, the ICP monitoring devices market is fragmented as meningitis, traumatic brain injury, subarachnoid haemorrhage, intracerebral haemorrhage, and others.

Considering the geographical landscape, the industry is segmented in four main region; Middle East & Africa comprise of GCC countries, South Africa, Egypt, Israel, and Turkey; the United States, Mexico, Canada, and Brazil form Americas; Asia Pacific is split into India, Japan, Australia, China, Korea, and Southeast Asia; and Germany, Italy, Russia, France, UK, and Spain fall under Europe.

According to the report, the global ICP monitoring devices market was worth US $450 million in 2019 and is presumed to witness a growth of 5.9% CAGR by the year 2024, pertaining to the decreasing cost of devices. The average global price was USD 20.6 K/unit in 2012, which came down to USD 18.5 K/unit in 2016 and is expected to follow the same trend over the forecast period.

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Moreover, the report offers an in-depth insight regarding the challenges, opportunities, drivers, and trends impacting the ICP monitoring devices market growth. It also provides an overview about the market and segmental shares, along with marketing strategies, distribution channels, and consumer spectrum.

Some of the key players of intracranial pressure monitoring devices market are Vittamed, Integra LifeSciences, HeadSense Medical, Johnson & Johnson, HaiWeiKang, Sophysa Ltd., Raumedic, and Spiegelberg.