Categories: Aerospace & Defence

Intracranial Pressure (ICP) Monitoring Devices Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Intracranial Pressure (ICP) Monitoring Devices Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Intracranial Pressure (ICP) Monitoring Devices Global Market Report 2024, The intracranial pressure (icp) monitoring devices market size has grown strongly in recent years. It will grow from $1.57 billion in 2023 to $1.68 billion in 2024 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to increasing incidence of traumatic brain injuries (tbis), aging population, growing awareness and diagnosis, medical tourism, rising geriatric population, global healthcare awareness and accessibility.

The intracranial pressure (icp) monitoring devices market size is expected to see strong growth in the next few years. It will grow to $2.16 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to personalized medicine approaches, telemedicine and remote monitoring, rise in chronic neurological disorders, integration with electronic health records (ehr), global increase in neurosurgical procedures, focus on outpatient monitoring. Major trends in the forecast period include artificial intelligence (ai) integration, continuous monitoring solutions, collaborations and partnerships, focus on non-invasive monitoring, home-based icp monitoring.

The growing number of traumatic brain injury (TBI) cases is expected to propel the growth of the intracranial pressure (ICP) monitoring devices market going forward. Traumatic brain injury (TBI) refers to an injury to the brain caused by an external force or trauma. The growing number of Traumatic brain injury (TBI) cases is mostly driven by increasing motor vehicle accidents, sports injuries, and physical assaults, where Intracranial pressure (ICP) monitoring devices play a crucial role in the management of traumatic brain injury (TBI) cases by providing real-time information about the pressure inside the skull. For instance, in March 2021, the Brain Injury Association of America (BIAA), a US-based national organization, estimated that 2.8 million people in the country experience TBI each year, with around 280,000 requiring hospitalizations. Moreover, in the U.S., a brain injury occurs every nine seconds, resulting in over 3.5 million injuries annually. Among these injuries, approximately 50,000 are fatal, leading to around 155 deaths per day related to TBI. Consequently, the growing number of TBI cases will drive the growth of the intracranial pressure (ICP) monitoring devices market.

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The intracranial pressure (icp) monitoring devices market covered in this report is segmented –

1) By Technique: Invasive, Non-Invasive

2) By Application: Traumatic Brain Injury, Intracerebral Hemorrhage, Meningitis, Subarachnoid Hemorrhage, Cerebrospinal Fluid (CSF) Management, Migraine, Stroke, Hydrocephalus, Electroencephalogram (EEG), Other Applications

3) By End User: Hospitals, Ambulatory Care And Clinics, Other End-users

Strategic Partnership is a key trend gaining popularity in the intracranial pressure (ICP) monitoring devices market. Major companies operating in the intracranial pressure (ICP) monitoring devices market are looking for partnerships to strengthen their position in the market. For instance, in November 2022, IRRAS, a Sweden-based medical technology company, partnered with Medtronic, a US-based medical device company operating in the intracranial pressure monitoring devices market. This partnership provides Medtronic with an exclusive right to promote the IRRAflow system in some of the territories in the United States. Further, in November 2022, EMOTIV, a US-based company advancing in using electroencephalography (EEG) partnered with X-trodes, an Israel-based biotechnology company providing wireless medical-grade monitoring solutions. This partnership aims to launch a new medical-grade, at-home solution for brain monitoring research.

The intracranial pressure (icp) monitoring devices market report table of contents includes:

Executive Summary
Intracranial Pressure (ICP) Monitoring Devices Market Characteristics
Intracranial Pressure (ICP) Monitoring Devices Market Trends And Strategies
Intracranial Pressure (ICP) Monitoring Devices Market – Macro Economic Scenario
Global Intracranial Pressure (ICP) Monitoring Devices Market Size and Growth

Global Intracranial Pressure (ICP) Monitoring Devices Market Competitive Benchmarking
Global Intracranial Pressure (ICP) Monitoring Devices Market Competitive Dashboard
Key Mergers And Acquisitions In The Intracranial Pressure (ICP) Monitoring Devices Market
Intracranial Pressure (ICP) Monitoring Devices Market Future Outlook and Potential Analysis
Appendix

Top Major Players: