The neurology monitoring global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Neurology Monitoring Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The neurology monitoring market size has grown strongly in recent years. It will grow from $6.08 billion in 2023 to $6.53 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historic period can be attributed to increasing prevalence of neurological disorders, rise in aging population, growing awareness and diagnosis rates, demand for non-invasive monitoring, integration of remote patient monitoring..
The neurology monitoring market size is expected to see strong growth in the next few years. It will grow to $8.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to focus on early detection and intervention, expansion of telemedicine and remote monitoring, personalized medicine approaches, government initiatives for neurological healthcare.. Major trends in the forecast period include adoption of wearable neurological monitoring devices, integration of virtual reality (vr) and augmented reality (ar) in neurology monitoring, implementation of wireless connectivity in neurological monitoring devices, development of home-based neurological monitoring solutions, focus on multi-modal neurophysiological monitoring systems..
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Scope Of Neurology Monitoring Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Neurology Monitoring Market Overview
Market Drivers –
The growing incidence of traumatic brain injuries is expected to propel the growth of the neurology monitoring market going forward. Traumatic brain injury (TBI) refers to damage to the brain brought on by an external force or trauma. Neurology monitoring is employed for the management of traumatic brain injuries (TBIs) to evaluate the patient’s brain function, monitor intracranial pressure, and identify any changes in neurological status, which assists medical professionals in making decisions about treatment plans and interventions, ensuring that patients receive timely and individualized care. For instance, in March 2023, according to the Colorado Department of Human Services (CDHS), a US-based government agency, every year, it is estimated that 2.8 million Americans experience a traumatic brain injury leading to nearly 2.5 million emergency department visits, 225,000 hospitalizations and 65,000 deaths annually. Therefore, the growing incidence of traumatic brain injuries drives the neurology monitoring market.
Market Trends –
Major companies operating in the neurology monitoring market are focusing on developing innovative electroencephalogram (EEG) monitoring devices, such as Ceribell Rapid Response EEG Device to provide reliable services to their customers. The Rapid EEG is the first of its kind cloud-linked device that provides real-time awareness of harmful brain patterns. For instance, in May 2021, Inspira Health, a US-based healthcare company, launched the new Ceribell Rapid Response EEG monitoring device. This device consists of a headband with built-in electrodes, a pocket-sized recorder with user-friendly software, and a web gateway for remote viewing. The Ceribell Rapid Response EEG includes cloud-linked, portable electroencephalogram (EEG) equipment that enables EEG examinations within minutes, ensuring quick diagnosis and treatment of seizures.
The neurology monitoring market covered in this report is segmented –
1) By Product Type: Magnetic Resonance Imaging (MRI) Devices, Electroencephalography Devices, Cerebral Oximeters, Intracranial Pressure Monitors, Other Product Types
2) By Disease Type: Traumatic Brain Injury (TBI), Stroke, Sleep Disorders, Parkinson’s Disease, Epilepsy, Other Disease Types
3) By End User: Hospitals, Neurology Centers, Diagnostic Centers, Advancing Surgical Care And Clinics, Other End Users
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Regional Insights –
North America was the largest region in the neurology monitoring market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the neurology monitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the neurology monitoring market report are Medtronic plc, Siemens Healthcare GmbH, GE Healthcare, Philips Healthcare, Drägerwerk AG & Co. KgaA, Masimo Corporation, Nihon Kohden Corporation, Integra LifeSciences Corporation, Natus Medical Incorporated, Raumedic AG, Neurosoft LLC, Cadwell Laboratories Inc., Compumedics Limited, Sophysa SA, Electrical Geodesics Inc., BrainScope Company Inc., G.Tec Medical Engineering GmbH, Persyst Development Corporation, Advanced Brain Monitoring Inc., NeuroWave Systems Inc., Spiegelberg GmbH & Co. KG, BrainMaster Technologies Inc., DEYMED Diagnostic s.r.o., Inomed Medizintechnik GmbH, Novela Neurotechnologies Inc
Table of Contents
1. Executive Summary
2. Neurology Monitoring Market Report Structure
3. Neurology Monitoring Market Trends And Strategies
4. Neurology Monitoring Market – Macro Economic Scenario
5. Neurology Monitoring Market Size And Growth
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27. Neurology Monitoring Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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