Dallas, TX, March 27, 2016 --(PR.com
)-- Brain monitoring is the process of tracking the activity of various parameters associated with the functioning of the brain. These include electrical activity, blood flow, and magnetic activity, pressure surrounding the brain, cerebral oxygen saturation, and anomalies such as tumors or infections. The various tools available for brain monitoring include electroencephalography (EEG), magneto encephalography (MEG) and intracranial pressure monitors.
The brain monitoring market is expected to reach USD 1.8 billion by 2022 from 1.1 billion in 2015, at aCAGR of 7.1%. The increasing global incidence and prevalence of neurological disorders, growing awareness about neurodegenerative diseases, technological advancements in brain monitoring devices, and growing incidence of traumatic brain injuries are major factors driving the market growth for brain monitoring. On the other hand, shortage of trained professionals to operate brain monitoring devices, high cost associated with complex brain monitoring devices, and concerns regarding the accuracy of diagnostic devices are some of the factors that may hinder the growth this market.
Based on product, the brain monitoring market is categorized into devices and accessories. The devices segment accounted for higher share of 8.9% of the total brain monitoring market in 2015. Factors such as increasing incidence of neurological, neurodegenerative, psychotic, and sleep disorders; the need for early diagnosis; availability of innovative portable and wearable home-based monitoring devices; and increasing patient awareness are driving the growth for the brain monitoring market.
Based on procedure, the brain monitoring market is segmented into invasive and non-invasive procedures. The risk of complications such as hemorrhage and infections is lower in non-invasive procedures, resulting in their higher uptake. Moreover, there is greater focus on research for the development of advanced non-invasive devices for brain monitoring. These are some of the major factors driving the market growth for non-invasive brain monitoring in the forecast period.
On the basis of region, the brain monitoring market is divided into North America, Europe, Asia, and the Rest of the World (RoW). North America is estimated to account for the largest share of the market in2015. The market in Asia is poised to witness the highest growth, attributed to factors such as increasing aging population, availability of low-cost labor and skilled manpower, increase in disposable incomes, rising prevalence of neurodegenerative disorders, and increasing government emphasis on healthcare reforms in the region.
Some of the prominent players in the brain monitoring market are Nihon Kohden Corporation, Philips Healthcare, Medtronic Plc., GE Healthcare, and Siemens Healthcare. In 2015, market players primarily focused partnerships, collaborations, and agreements to expand their presence in the market. Other key strategies adopted include new product launches and investments.
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