The exponentially increasing number of patients suffering from head injury, stroke, and, neurological disorders have fueled the market for intra-cranial pressure (ICP) monitor which facilitates the treatment of problems related to the brain by recording the pressure (swelling) inside different areas of the brain. Market Research Future (MRFR) has recently published a report on global intra-cranial pressure monitor market which discloses that the market will persistently grow at a healthy CAGR till 2022.
One of the crucial factors driving the market growth is the rise in road accidents which lead to severe brain injuries. According to the World Health Organization (WHO), more than 1.25 Million people lose their lives every year in road accidents. The adoption of ICP monitor in developing countries which account for most of the lives lost in these accidents will create the demand in the market over the next couple of years. Other factors responsible for the market expansion are increased cases of sleep disorders, depression, etc.
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By techniques, the intra-cranial pressure monitor market has been segmented into invasive and non-invasive. Invasive segment holds an influential position in the market.
By methods, the market is segmented into intra-ventricular catheter, subdural screw, and, epidural sensor.
By application, the ICP monitor market has been segmented into traumatic brain injury, intra-cerebral hemorrhage, meningitis, and, others. The traumatic brain injury segment accounts for a significant share of the market revenue, and its growth is propelled by factors such as road accidents, industrial mishaps, violence, etc.
By region, intra-cranial pressure monitor segment has been segmented into Americas, Europe, Asia-Pacific, and Middle East & Africa. The technical advancements in the healthcare sector of Americas region have accelerated the adoption of intra-cranial pressure monitor for better treatment of the neurological disorders and brain injuries. The rising rate of patients with brain injury from road & industry accidents, neurological disorders, etc. has amplified the demand for intra-cranial pressure monitor for efficient treatment of the patients. The U.S. is poised to be the primary revenue generator in the market.
Asia Pacific market holds potential for the steepest growth due to the presence of the most populous countries in the region. The population base of patients with neurological disorders, brain injury, etc. is on the rise and is expected to expand further over the next couple of years. Therefore, the market for intra-cranial pressure monitor will also expand with the increase in demand. Furthermore, the initiatives undertaken by the governments to boost medical tourism and develop healthcare sector are also multiplying the profits earned from the market in the region.
The market in Europe will thrive owing to factors such as increasing geriatric population, growing patient pool, etc. The developments introduced in the healthcare sector can also be credited for the expansion of the market in the region. Middle East & Africa region is expected to observe an upward shift due to the developed healthcare sector of Middle East region.
Some of the key players profiled by MRFR in its latest report are Covidien plc (Ireland), Natus Medical Incorporated (US), Codman & Shurtleff, Inc. (US), Compumedics Limited (Australia), Integra LifeSciences Corporation (US), and, Raumedic (USA). The market players implement strategies such as mergers & acquisitions, research & development activities, technological advancements, collaborations, etc. to gain a competitive edge over others which further leads to the growth and expansion of the market.
Branchpoint Technologies has been granted with 510(K) clearance for its Aura intracranial pressure (ICP) monitoring system by the U.S. Food and Drug Administration. The monitoring system includes a fully implantable and wireless ICP sensor. The system embraces wireless technology for power and transmission of patient data directly to a bedside monitor. The device eliminates the need for additional capital equipment investments by enabling telemetric monitoring of parenchymal ICP.
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