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The intracranial pressure monitoring devices market size is estimated to grow at a CAGR of 6.5% between 2022 and 2027. The market size is forecast to increase by USD 568.32 million. The growth of the market depends on several factors, including increased product launches, a rise in Mergers and Acquisitions (M&As), and growing applications of ICP monitoring devices.
This intracranial pressure monitoring devices market report extensively covers market segmentation by product (invasive and non-invasive), application (traumatic brain injury, intracerebral hemorrhage, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The growing applications of intracranial pressure (ICP) monitoring devices are notably driving market growth, although complications associated with ICP monitoring devices may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growing applications of intracranial pressure (ICP) monitoring devices are notably driving the Intracranial Pressure (ICP) Monitoring Devices Market growth. Companies in the market are focusing on increasing surveillance applications. Previously, intracranial pressure monitoring devices were used to determine Traumatic brain injury (TBI). It is now widely used to monitor patients with brain tumors, stroke, and severe meningitis. In such cases, increased intracranial pressure, also known as intracranial hypertension, should be monitored continuously. Changes in intracranial pressure can cause life-threatening illnesses. In addition, if left untreated, it can damage the brain and spinal cord. In addition, brain tumors and strokes are common.
For example, according to the Centers for Disease Control and Prevention (CDC), approximately 795,000 people in the United States are affected by stroke each year. Furthermore, according to the NHS, more than 9,000 people in the UK are diagnosed with brain tumors each year. With the increasing application of ICP monitoring and the increase in stroke and brain tumors, the use of ICP monitors is increasing. This will propel the growth of the market during the forecast period.
The rising advances in technology are a key trend influencing the ICP Monitoring Devices Market growth. Vendors are developing innovative technologies to create next-generation products. For example, Branchpoint Technologies offers its FDA-approved AURA system for monitoring intracranial pressure. This is a fully implantable system with a wireless intracranial pressure sensor. A wireless intracranial pressure sensor enables mobile monitoring of intracranial pressure in brain injury patients. In contrast, traditional intracranial pressure monitoring systems require a cable connection to the patient's brain. The AURA system is completely wireless in terms of power supply and patient data transmission and is displayed directly on the bedside monitor.
In addition, continuous telemetry monitoring of parenchymal intracranial pressure is now possible, including continuous monitoring of intracranial pressure (ICP) waveform. These technological advances are helping doctors remotely monitor patients undergoing brain surgery. The presence of such next-generation products will boost sales of ICP monitors worldwide during the forecast period.
The complications associated with ICP monitoring devices are challenging the Intracranial Pressure Monitoring Devices Market growth. The growth rate of the market is moderate. However, complications associated with the use of intracranial pressure monitoring systems hinder the market growth during the forecast period. Bleeding, brain herniation due to increased pressure, damage to brain tissue, postoperative wound infections, and the risks associated with the use of anesthetics are just a few of the complications that occur with intracranial pressure (ICP) monitors. A number of devices are currently on the market for monitoring intracranial pressure. Monitoring of intracranial pressure can be done with an external ventricular drainage (EVD) device. In this technique, a catheter is surgically inserted into the ventricle. This allows cerebrospinal fluid (CSF) to be measured and drained. However, this technique is not suitable for patients with small ventricles or swollen brains.
Furthermore, long-term use of EVD can lead to intracranial infections. Intracranial hemorrhage is one of the potential complications of intracranial placement of invasive intracranial pressure monitoring devices. All of these complications can cause abnormalities and serious illnesses in affected individuals. These complications pose challenges to the growth of the Intracranial Pressure Monitoring Devices Market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Intracranial Pressure Monitoring Devices Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Integra Lifesciences Holdings Corp: The company offers different types of intracranial pressure monitoring devices especially Licox Monitor, and ICP Express.
The report also includes detailed analyses of the competitive landscape of the market and information about 7 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the invasive segment will be significant during the forecast period. Invasive intracranial pressure (ICP) monitoring is performed by drilling a hole in the patient's skull and inserting a catheter into the brain tissue (the parenchyma) or into the ventricle (the space within the brain that contains the cerebrospinal fluid (CSF)). A sensor in the catheter continuously measures ICP. Implantation of a device to monitor ICP can be accomplished in three ways using intraventricular catheters, subdural screws, or epidural sensors. Of these methods, intraventricular catheterization provides the most accurate results. An intraventricular catheter is used to monitor and intermittently extract excess CSF. Similarly, a hole is drilled into the skull, and the epidural sensor is placed between the bony frame of the head and the dura tissue. In contrast, epidural sensors cannot be used to drain excess CSF from the brain. Epidural sensors assist ICP monitoring by recording data from the subdural space.
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The invasive segment was valued at USD 664.73 million in 2017 and continued to grow until 2021. Invasive ICP monitoring is the traditional method. This is the gold standard and helps diagnose traumatic brain injury (TBI). The growth of this market segment is attributed to the increasing variety of products offered by vendors in this category. Advances in technology have expanded the use of invasive ICP monitors in combination with other medical devices. For example, Integra LifeSciences offers the Camino Flex ventricular catheter in combination with Magnetic Resonance Imaging (MRI) scanning on 1.5 and 3 Tesla systems. The Camino Flex Ventricular Catheter is used for both ICP monitoring and CSF management. All these developments have led to the growth of the market segment. The market segment will continue to grow during the forecast period due to the wide range of invasive ICP surveillance devices available.
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North America is estimated to contribute 44% to the growth of the global intracranial pressure monitoring devices market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The market in North America is expected to grow at a moderate rate during the forecast period. In 2021, North America dominated the market. This is due to the presence of the United States and Canada, which contribute significantly to the revenue of the market. The presence of major global vendors in the US is driving the market growth. Major companies such as Boston Neurosciences, Branchpoint Technologies, Integra LifeSciences, and Natus Medical are headquartered in the United States. The wide range of products offered by these vendors will drive the growth of the regional market during the forecast period.
In 2020, the market was adversely affected by the COVID-19 pandemic. The governments of different countries across the world imposed lockdowns that halted normal activities throughout the world. As a result, many elective surgeries, including neurosurgery, were postponed or canceled. However, in 2021, the deployment of a vaccine globally reduced the number of COVID-19 cases. This led to the resumption of elective procedures in hospitals and other healthcare facilities, increasing demand for intracranial pressure (ICP) monitors across the world.
The intracranial pressure monitoring devices market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global intracranial pressure monitoring devices market as a part of the global healthcare equipment market. The parent global healthcare equipment market engages in research and development (R&D) across a wide range of product categories including capital goods, instruments, implants, accessories, and consumables used in the diagnosis, monitoring, and treatment of various diseases.
Intracranial Pressure Monitoring Devices Market Scope |
|
Report Coverage |
Details |
Page number |
150 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.5% |
Market growth 2023-2027 |
USD 568.32 million |
Market structure |
Concentrated |
YoY growth 2022-2023(%) |
6.0 |
Regional analysis |
North America, Europe, Asia, and Rest of World (ROW) |
Performing market contribution |
North America at 44% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading vendors, market positioning of vendors, competitive strategies, and industry risks |
Key companies profiled |
Integra Lifesciences Holdings Corp., IRRAS AB, Medtronic Plc, Natus Medical Inc., Nisonic AS, REHAU Group, Spiegelberg GmbH and Co. KG, and Tokibo Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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