Brain Monitoring Market 2022 - Market Size & Forecast, Industry Trends, Manufacturers Analysis, & Opportunities 2030

The global brain monitoring market is expected to witness growth at a compounded annual growth rate (CAGR) of 7.2% during the forecast period of 2022-2030.

Brain monitoring typically involves using devices for monitoring and diagnosing neurological conditions of the brain by exploring its functions and structure. The devices assist in monitoring electrical and neural activity in the brain and also help in monitoring the blood flow in the veins and arteries situated in the brain.

The most commonly available and used brain monitoring devices include: electroencephalography devices, magnetoencephalography and intracranial pressure monitors.

GROWTH DRIVERS:

Factors such as the burgeoning incidence of neurological & neurodegenerative disorders and traumatic brain injuries across the globe coupled with their growing awareness among people; the rising number of applications of brain monitoring in clinical trials; the surging demand for non-invasive and minimally invasive devices; the rapidly expanding healthcare industry across the developing nations around the globe; the ever-increasing geriatric population; and the soaring popularity of brain monitoring devices among healthcare providers are primarily driving the growth of the global brain monitoring market.

The global occurrence of brain disorders among people is surging at a rapid rate. According to an estimate, more than 2.8 million people across the globe suffered from multiple sclerosis in the year 2020 alone. Apart from this, the presence of disorders such as brain tumors, Alzheimer’s disease, and epilepsy is also growing rapidly across the world's populace. This unprecedented rise in the number of people suffering from different mental disorders is bolstering the demand for different brain monitoring systems for the prevention and treatment of these disorders, which in turn is leading to the growth of the global brain monitoring market.

Additionally, leading market players in the brain monitoring market have been continuously emphasizing and putting consistent amount of efforts in developing and launching technologically advanced brain monitoring devices with enhanced user-friendliness, cost-effectiveness and functionality into the market. For instance, in March 2018, Nihon Kohden (Japan) launched aireeg WEE-1200, a wireless EEG system that highly effectively provides real-time data during long-term epilepsy monitoring, intensive care, and routine EEG.

Moreover, the number of government initiatives emphasized on the development of new and innovative devices, and the approval of brain monitoring devices from regulatory authorities is also growing robustly on the global level. This is significantly contributing to the growth of the global brain monitoring market.

Furthermore, other factors such as the growing therapeutic applications of brain monitoring devices due to their ease of use and portability; the existence of untapped markets in the emerging nations; the rapidly growing electroencephalograph market; the increasing cases of sleep disorders among people coupled with the presence of high unmet medical needs in the sector; and the proliferating demand for brain monitoring devices in critical care settings such as the ICU (intensive care unit) and in the pre-surgery and post-surgery stages are further expected to create enormous growth opportunities for the global brain monitoring market during the forecast period.

However, factors such as the high cost of complex brain monitoring devices & procedures; the presence of stringent government regulations and unfavorable reimbursement policies; the unavailability of proper healthcare infrastructure in emerging economies; and safety concerns regarding implantable devices are expected to restrain the growth of the global brain monitoring market to a certain extent during the forecast period.

BRAIN MONITORING MARKET SEGMENTATION:

By Product:

·         Devices

o   By Type

§  Magnetic Resonance Imaging (MRI) Scanners

§  Computerized Tomography (CT) Scanners

§  Electroencephalograph (EEG) Devices

§  Positron Emission Tomography (PET) Scanners

§  Sleep Monitoring Devices

§  Cerebral Oximeters

§  Electromyography (EMG) Devices

§  Intracranial Pressure (ICP) Monitors

§  Magnetoencephalography (MEG) Devices

§  Transcranial Doppler (TCD) Devices

o   By Procedure

§  Devices for Invasive Procedures

§  Devices for Non-invasive Procedures

·         Accessories

o   By Type

§  Electrodes

·         Wet Electrodes

·         Dry Electrodes

·         Needle Electrodes

§  Sensors

§  Pastes & Gels

§  Caps

§  Cables

§  Batteries

§  Other Accessories

·         By Usability

o   Disposable

o   Reusable

By Medical Condition:

·         Traumatic Brain Injury (TBI)

·         Stroke

·         Dementia

·         Headache Disorders

·         Sleep Disorders

·         Parkinson’s Disease

·         Epilepsy

·         Huntington's Disease

·         Other Medical Conditions

By End User:

·         Hospitals

·         Neurology Centers

·         Ambulatory Surgery Centers (ASCs) & Clinics

·         Diagnostic Centers

·         Other End Users

By Region:

·         North America

·         Europe

·         Asia Pacific

·         Latin America

·         Middle East and Africa

Based on product, the devices segment acquired the largest share of 75.0% of the global brain monitoring market in 2021. The segment is expected to further retain its dominance in the market over the forecast period of 2022-2030. The growth of this segment is majorly attributed to the rapidly surging prevalence of various sleep, neurological, and neurodegenerative disorders among people across the globe; the rising awareness among people regarding these disorders; the augmenting significance of early diagnosis of these disorders, and the increasing availability of new & advanced portable monitoring devices in the market, among other factors.

Based on medical condition, the traumatic brain injury (TBI) segment held the largest share of 27.0% of the global brain monitoring market in 2021. The segment is predicted to further maintain its hold over the forecast period on account of the rising number of traumatic brain injury cases across the globe.

Based on end user, the hospitals segment captured the largest share of 58.0% of the global brain monitoring market in 2021. The segment’s position is anticipated to remain unchanged over the forecast period due to the larger influx of patient population coming to hospitals to diagnose and treat various disorders, including brain-related disorders, and the growing application and requirement of advanced equipment and devices for the brain monitoring process in hospitals.

REGIONAL OUTLOOK:

The North American region, followed by the European region, dominated the global brain monitoring market by accounting for 38.0% of the overall market share in 2021. The region is estimated to further continue with the trend and witness robust growth in the market over the forecast period of 2022-2030. The growth of the market in the region can be ascribed to the proliferating incidence of neurological and various other related disorders; the existence of well-established healthcare infrastructure; the escalating number of clinical trials of brain monitoring products, the presence of favorable medical reimbursement scenario, and the growing technological advancements in brain monitoring procedures and devices in the region. Moreover, the soaring healthcare expenditure, the increasing awareness among people regarding brain-related disorders and the expanding base of the old-age population in the region is also expected to significantly contribute to the growth of the brain monitoring market in the region during the forecast period. The U.S. is the largest contributor to the region, followed by Canada.

The Asia-Pacific region is poised to emerge as the fastest-growing regional market for brain monitoring during the forecast period i.e., 2022-2030. The growing entrance of well-established and new market players in the region; the increasing incidence of mental disorders in the region; the expanding base of geriatric population in the region, and the rising disposable incomes of people in the region are some of the major factors attributed to the growth of the brain monitoring market in the Asia Pacific region. India, China, Japan, and South Korea stand as the most prominent contributors to the growth of the market in the region.

KEY COMPANIES IN BRAIN MONITORING MARKET:

·         GE Healthcare

·         Siemens Healthineers

·         Compumedics Ltd.

·         Medtronic

·         Edwards Lifesciences Natus Medical Inc.

·         Nihon Kohden Corporation

·         Philips Healthcare

·         Drägerwerk AG & Co. KGaA

·         Advanced Brain Monitoring

·         Masimo Corporation

·         Spiegelberg GmbH & Co. KG

·         Cadwell Industries

·         NeuroWave Systems Inc.

·         Nonin Medical Inc.

·         Integra LifeSciences Corporation

·         Raumedic AG

·         NOVASIGNAL CORPORATION

·         Rimed

·         Other Players