The global non-invasive brain trauma monitoring devices market was valued at USD 7.7 billion in 2015. The prime factor responsible for the lucrative growth of this market is the rising incidences of Traumatic Brain Injuries (TBIs).
As per the data published by the International Brain Injury Association, approximately 5 million Americans have disabilities related to traumatic injuries. Moreover, every year around 1 million cases of TBI are diagnosed in India. In addition, the global incidence rate of TBI is estimated to be about 200 in 100,000 people every year. Hence, the increasing burden of this disorder is acting as animpact rendering driver for the industry.
North America non-invasive brain trauma monitoring devices market share, by end-use, 2013 - 2024 (USD Million)
The demand for the minimally invasive procedure is on the rise and these procedures are less traumatic and enablespeedy recovery of patients. The non-invasive brain trauma monitoring equipment makes a major contribution to minimally invasive neurosurgical procedures. The rising popularity of minimally invasive procedures is likely to boost the demand for these products.
The occurrence of TBI is to a great extent in the population aged above 40. The global population is aging rapidly and the geriatric population is projected to double from 12.0% to 22.0% between 2015 and 2050 as stated by the World Health Organization (WHO). Aging is a vital risk factor for developing neurological disorders. For instance, around 20.0% people aged above 60 have neurological disorders and over 6.0% have disabilities related to neurodegenerative disorders. Thus, the rapidly aging population is anticipated to be a high impact rendering driver for this industry.
The market has been segmented into monitoring devices and consumables. The monitoring devices are further divided into intracranial pressure monitoring, MRI scanners, CT scanners, PET scanners, electroencephalography, magnetoelectroencephalography (MEG), and other devices.
Monitoring devices accounted for around 60.0% shares inthe product segment in 2015. The increasing demand for thisequipment owing to the new healthcare settings globally contributed towards the supremacy of this segment. Moreover, prices of these products are comparatively much higher than consumables, spurring the growth of this segment.
On the other hand, the consumables segment consisting of electrodes, sensors, and fiber optic cables is anticipated to exhibit a remunerative growth rate over the forecast period. This can be attributed to the repeat purchase of these products and regular maintenance activities.
The key end-use segment includes hospital, neurological centers, and other centers such as ambulatory surgical settings. The hospital segmentled the end-use segment with over 75.0% share in 2015. The higher volume of surgeries performed in hospital settings along with greater financing capabilities resulted in the hospital segment dominating the end-use segment.
The neurological centers segment, on the other hand, is expected to grow at a sturdy rate over the forecast period. The availability of specialized staff and advanced methodology brings efficiency in treatment, thus supporting the growth of this segment.
Geographically, this industry is divided into North America, Europe, Latin America, Asia Pacific, and MEA. North America held a significant share of over 40.0% in 2015. The rising per capita income, sophisticated healthcare system, aging population and awareness, and initiatives in this region facilitated the early and preventive diagnosis.
Asia Pacific is anticipated to witness the fastest growth in the coming eight years. Economic developments in countries, specifically India and China, are anticipated to boost the demand for these products. Moreover, this region contributes to around 60.0% of world’s population; hence, high unmet needs of the huge population base opens up avenues for the market players.
The key players operating in this industry include Natus Medical, Inc., Nihon Kohden Corporation, Philips Healthcare, GE Healthcare, Advanced Brain Monitoring, CAS Medical Systems, Inc., Siemens, Compumedics Ltd., Medtronic Plc., and Integra LifeSciences.
New product developments, strategic collaborations, mergers, and acquisitions are the key initiatives to sustain in a competition. In August 2014, Medtronic acquired Sapiens Steering Brain Stimulation, a provider of neuromodulation technologies; this acquisition helped the company to strengthen its product portfolio in the neurological frontier.
The report titled global non-invasive brain trauma monitoring devices market focuses on various product types and end-users. Several approaches and models were used for estimating and forecasting the industry size. Primary interviews and secondary sources provided a thorough understanding of market trends, regulations, and purchasing patterns.
The report highlights trends in this industry along with various initiatives undertaken by players and critical success factors. These insights offer a complete understanding of the non-invasive brain trauma monitoring devices market, which will help in decision-making.
The report can be further customized at theregional level, which is currently kept limited to maintain the proportion.
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