Boston, MA, April 25, 2017 --(PR.com
)-- Brain monitoring devices are used to monitor and diagnose the neurological conditions by exploring the structure and functions of the brain in patients. These devices provide the information of the brain and greater understanding of neurological problems, with possible new treatments. Among brain monitoring devices CT and MRI are the conventional devices which are being used for the structural diagnosis of the brain like tumour, head injury etc., whereas EEG, MEG, TCD, oximeters and ICP monitors are the recent techniques used for the functional imaging of the brain. EEG measures the electrical activity generated by the various cortical layers of the brain whereas, MEG capture the magnetic fields generated by neural activity within the brain. Similarly, TCD measures the velocity of the blood flow through the brain’s blood vessels, oximeters are used to measure the regional cerebral oxygen saturation with in the brain and ICP monitors monitor the intracranial pressure within the skull while treating severe traumatic brain injury in patients. In addition to all these devices, sleep monitoring devices which occupies major share in the brain monitoring devices global market, are being used to understand the person’s sleep physiology and track sleep with the aim of finding patterns and correlations with person’s behaviours.
Brain monitoring devices market is growing at a steady rate, as estimated by IQ4I Research the market is expected to reach $10.01billion by 2023. The major factors driving the brain monitoring device market includes growing incidence and prevalence of neurological disorders, rising awareness about neurodegenerative disorders, growing healthcare spending and technological advancements/innovations offering wider scope of applications for brain monitoring. However, some of the factors like shortage of trained professionals, high cost of complex devices, stringent regulations and unfavorable reimbursement policies may hinder the growth of global brain monitoring device market.
The brain monitoring devices global market is segmented based on their products, applications, end users and geography. Among products, sleep monitoring devices holds the largest market share because of the advancements in portable sleep devices technologies and growing incidence of obstructive sleep apnea. Sleep monitoring devices is expected to grow at the single digit mid-CAGR.
The global brain monitoring devices application segment is classified into neurodegenerative disorders, brain tumor, psychiatric disorders, sleep disorders and other applications. Neurodegenerative diseases are characterized by progressive loss of neurons in the central nervous system and Epilepsy, Parkinson's disease (PD), Huntington’s disease falls under this category. In 2016, the market was estimated to be dominated by neurodegenerative disorders. The large share of this segment can be attributed to the growing incidence of Traumatic Brain Injuries (TBIs) globally owing to various factors like, increasing occurrence of falls, blunt trauma and motor vehicle crashes among other causes of TBIs and along with the increasing aging population.
Geographically, the bran monitoring devices market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America region held the largest market share within that United States accounted for the largest share this growth is driven due to its high acceptance of advanced technologies and sophisticated universal treatment facilities. Asia- Pacific region is the fastest growing region due to its increase in healthcare spending and advancements in healthcare facilities, the easy access to advanced healthcare technology.
The global brain monitoring devices market is fragmented where key players like GE Healthcare (U.S.), Philips N.V. (Netherland), Siemens Healthineers (Germany), Medtronic (Ireland) and Natus Medical Inc. (U.S.) holding a major share in 2016. The protection of intellectual property rights plays a very important role as a long term strategy for survival of the company and to maintain a competitive advantage. According to IQ4I Analysis, Advanced Brain Monitoring filed the largest number of PCT applications followed by Siemens Healthineers and Philips N.V. at World Intellectual Property Organization (WIPO).
Some of the prominent players in brain monitoring device market include Advanced Brain Monitoring (U.S.), Cadwell Laboratories (U.S.), CAS Medicals Inc. (U.S), Compumedics Limited (Australia), Electrical Geodesics Incorporated (U.S.), Elekta AB (Sweden), GE Healthcare (U.S.), Integra Lifesciences (U.S.), Koninklijke Philips N.V. (Netherland), Masimo corporation (U.S.), Medtronic (Ireland), Natus Medical Inc.(U.S.), Nihon Kohden Corporation (Japan) and Siemens Healthineers (Germany).