The report “Brain Monitoring Market by Product, (MRI, CT, PET, EEG, MEG, ICP), Procedure (Invasive, Noninvasive), Application (TBI, Stroke, Dementia, Headache, Epilepsy), End User (Hospital, Neurological Center, Diagnostic, ASC, Ambulance) - Global Forecast to 2020”, provides a detailed overview of the major drivers, restraints, challenges, opportunities, current market trends, and strategies impacting the brain monitoring market along with the estimates and forecasts of the revenue.
The global brain monitoring market is expected to reach USD 11.5 Billion by 2020 from USD 7.5 Billion in 2015, at a CAGR of 7% during the forecast period.
The report segments the brain monitoring market based on product, procedure, therapeutic application, end user and regions. On the basis of product, the market is segmented into devices and accessories. The devices segment is expected to account for the largest share of brain monitoring market, by product, in 2015 due to 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.
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Among the procedures, the noninvasive segment is expected to grow at the highest rate during the forecast period. The non-invasive procedures segment is estimated to account for a higher share of the total brain monitoring market. 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.
Increasing global incidence and prevalence of neurological disorders, rising awareness about neurodegenerative diseases, technological advancements in brain monitoring devices and growing incidence of traumatic brain injuries are propelling the growth of brain monitoring market. On the other hand, the, shortage of trained professionals, high cost of complex brain monitoring devices, unfavorable reimbursement policies and concerns regarding the accuracy of diagnostic devices may restrict market growth.
On the basis of region, the brain monitoring market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of this market in 2015 and will continue to dominate the market during the forecast period. The Asian market is poised to grow at the highest CAGR, mainly due to 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.
The brain monitoring market is highly fragmented and competitive, with several big as well as emerging market players. Key market players include Natus Medical Inc. (U.S.), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (U.K.), Siemens Healthcare (Germany), Compumedics Ltd. (Australia), Electrical Geodesics Incorporated (U.S.), Medtronic Inc. (Ireland), CAS Medical Systems, Inc. (U.S.) and Advanced Brain Monitoring (U.S.).
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