global brain monitoring market was worth USD 6.2 billion in 2020 and is further projected - PDF document

Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period G lobal brain monitoring market was worth USD 6.2 billion in 2020 and is further projected to reach USD 9.3 billion by the year 202 7 Summary Global Brain Monitoring Market, By Produc t (Devices, Accessories), By Medical Condition (Traumatic Brain Injury, Stroke, Dementia, Headache Disorders, Sleep Disorders, Parkinson’s Disease, Epilepsy, Huntington’s Disease, Other Diseases), By End - User (Hospitals, Neurology Centers, Ambulatory Surge ry Centers (ASCs) & Clinics, Diagnostic Centers and Others), By Region (North America, Europe, Asia - Pacific (APAC), Latin America (LATAM), Middle - East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017 - 2027 . A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting , revealed that the global brain monitoring market was worth USD 6.2 billion in the year 2020. The data generated by the study further reveals that the market is estimated to grow at a CAGR of 5.8%, earning revenue of around USD 9.3 billion by the end of 2027. The global brain monitoring market is gaining substantial traction due to factors such as the rising prevalence of neurological diseases among all age groups, the adoption of advanced medical technologies, and the development of healthcare infrastructure in emerging economies. However, the high cost of brain monitoring devices, along with stri ct government policies may hamper the market growth . View report Press release Sample report Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period Report Overview The market for brain monitoring is mainly driven by the growing prevalence of neurological disorders, traumatic brain injuries, the rising awareness of neurological diseases, a nd the increasing use of brain monitoring in clinical trials. The global brain monitoring market was worth USD 6.2 billion in 2020 and is further projected to reach USD 9.3 billion by the year 2027, growing at a CAGR of 5.8% in the forecast period. The inc reasing prevalence of neurological disorders, as well as cardiovascular diseases, are some of the leading factors driving the growth of the market. Also predicted to drive the market in the forecast period are advancements in healthcare and the growing awa reness of neurological diseases such as epilepsy, dementia, and Alzheimer's. The global brain monitoring market, however, will be hampered by unfavorable reimbursement policies and stringent government regulations during the forecast period. Brain Monitor ing Market Global Brain Monitoring Market - Overview Brain monitoring is a technique through which physicians monitor or study the brain’s activities and responses towards the stimulus. For such a study, the physicians or doctors use brain monitoring devices. A brain monitoring device is used to assess the s tructure and function of the brain to monitor and diagnose neurological conditions.Several brain monitoring devices are used to monitor brain activity, including magnetoencephalography, cerebral oximeters, intracranial pressure monitors, MRI scanners, and electroencephalography (EEG) devices.For example, EEG devices are used to record and track patterns of electrical brain activity and later to interpret the same data for the diagnosis of any neurological disorder. Global Brain Monitoring Market Forecast a nd Trends Growth Drivers Increasing Prevalence of Neurological Disorders The prevalence of neurological disorders is increasing at a very high rate across the globe. Neurological disorders can be triggered by a variety of factors, such as genetics, life style or environment, traumatic brain injury or spinal cord or nerve injury, etc.According to research,270 million people suffer from neurological disorders across the globe, with headaches, strokes, seizures, and dementia being some of the more common dis orders.Moreover, World Health Organization figures show that in September 2019, nearly 50 million people suffered from dementia globally, with almost 10 million cases being recorded each year.As a result, the diagnosis and treatment of these neurological d isorders are expected to accelerate in the next few years, thereby propelling the market growth. Technological Advancements in The Brain Monitoring Devices Despite various technological advancements, the development of brain diagnosis devices that can ac curately diagnose the presence of neurological disorders is still unexplored. However, this means the market holds great potential for Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period technological advancements as well as research and development. Various research activities are undergoing in developing innovative devices which can track neural activities beneath the scalp. The research is also focused on developing electroencephalography (EEG) systems that are minimally invasive and can remain under the scalp for longer periods. Thus, technological advan ces are expected to boost the global brain monitoring devices during the forecast period. Restraints High Cost of Brain Monitoring Devices The high cost of brain monitoring devices is one of the major factors restricting the adoption of brain monitoring devices especially in developing economies. The average cost of an MRI scanner ranges from USD 150,000 to USD 1.2 million. The cost of an EEG device ranges from USD 30,000 to USD 175,000. The same goes for CT scanners, MEG devices, and PET scanners, which are also high - technology devices requiring high investment.Therefore, the healthcare facilities have to be dependent on government or external funding to adopt such devices. Impact of COVID - 19 on the Global Brain Monitoring Market The COVID - 19 situation has had an adverse effect on the global brain monitoring market. The priorities of the healthcare facilities increased toward managing the surging COVID - 19 cases. As a result of investments towards treating COVID - 19 - infected patients, the investments of h ealthcare facilities towards ventilators, respiratory diseases, and remote patient monitoring have increased, resulting in the decline of demand for brain monitoring devices.However, the market is projected to flourish in the post - COVID - 19 period. Accordin g to various researches,the lockdown has affected the psychological health of the people, and work - from - home has also contributed to fatigue. This is anticipated to pull significant demand for brain monitoring devices in the coming years. Global Brain Monitoring Market - By Product Based on products, the global brain monitoring market is categorized into devices and accessories. The devices segment accounts for the largest market share and is also anticipated to grow at a high CAGR during the forecast period. There are various types of devices available in the market for brain monitoring applications such as MRI scanners, CT scanners, EEG devices, PET scanners, sleep monitoring devices, cerebral oximeters, etc. Since the last few years, the re has been a significant rise in the demand for brain monitoring devices due to a rise in the prevalence of various neurological disorders, mostly caused by poor lifestyles or heredity causes. Global Brain Monitoring Market - By Medical Condition Based on medical conditions, the global brain monitoring market is segmented into traumatic brain injury, stroke, dementia, headache disorders, sleep disorders, Parkinson’s disease, epilepsy, Huntington’s disease, and other diseases. Among Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period these segments, trauma tic brain injury holds the largest market share. Traumatic brain injuries result from trauma that strikes the head violently, such as sports injuries or road - related accidents.With the rising number of road accidents, traumatic brain injuries have also inc reased dramatically, particularly in developing and underdeveloped countries. Global Brain Monitoring Market - By End - User Based on end - users, the global brain monitoring market is categorized into hospitals, neurology centers, ambulatory surgery centers (ASCs) & clinics, diagnostic centers, and others. The adoption of brain monitoring devices is quite high in hospitals, and therefore,the hospital segment accounts for the largest market share among all segments. Hospitals have a large percentage of patien ts seeking diagnosis and treatment of neurological disorders.In addition, hospitals are increasingly adopting advanced medical technologies, such as electroencephalography (EEG) for diagnosing neurological disorders, which in turn is favoring the growth of the hospitals’ segment. Global Brain Monitoring Market - Regional Insights Geographically, the global brain monitoring market is segmented into North America, Europe, Asia - Pacific, Latin America, Middle - East & Africa. Among these regions, North America dominates the global brain monitoring market with the largest market share. A major reason for the growth is the increasing demand for brain monitoring devices in the healthcare system and various other medical fields.Additionally, neurological diseases ar e very prevalent in this region, as is the awareness of such disorders. As a result, the diagnosis rate of such disorders is also high which is propelling the demand for brain monitoring devices and products. Regional Insights Competitive Landscape The leading players in the global brain monitoring market are Compumedics, Nonin Medical Inc., Natus Medical Incorporated, Koninklijke Philips NV, Medtronic PLC, Cadwell Laboratories, Integra Lifesciences Holding Corporation, Adva nced Brain Monitoring Inc., Nihon Kohden Corporation, Elekta AB, Masimo Corporation, CAS Medical Systems, Inc., Neurowave Systems, Inc., and other prominent players. Industry giants like Medtronic PLC, Phillips, and Integra Lifesciences make the market hi ghly consolidated. However, many regional companies are also emerging with great potential to give stiff competition to these global players. To stay competitive, the companies have been constantly innovating and advancing their products and devices. Rece nt Developments In May 2021, CorrActions, an Israel - based neuroscience technology - based startup, announced that it has raised around USD 2.7 million in seed funding from Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period various investors including VentureIsrael, Operator Partners, and the Israeli Innovat ion Authority. In April 2021, Helius Medical, a US - based neurotech company, announced to have received FDA clearance for its devices that stimulate the brain through the tongue. This portable and non - invasive device is specially designed for sclerosis patients but can al so be used for application in other disorders as well. Scope of the Report Attributes Details Years Considered Historical data – 2017 - 2020 Base Year – 2020 Forecast – 2021 – 2027 Facts Covered Revenue in USD Billion Market Coverage North America, Europe, the Asia - Pacific, Latin America, and the Middle East and Africa Product Service/Segmentation By Product, By Medical Condition, By End - User, By Region Key Players Compumedics, Nonin Medical Inc., Natus Medical Incorporated, Koninklijke Philips NV, Medtronic PLC, Cadwell Laboratories, Integra Lifesciences Holding Corporation, Advanced Brain Monitoring Inc., Nihon Kohden Corporation, Elekta AB, Masimo Corporation, Spi egelberg GmbH & Co. KG., GE Healthcare, Siemens Healthineers, Neurosoft, RIMED, Drägerwerk AG & Co. KGAA, CAS Medical Systems, Inc., Neurowave Systems, Inc., and other prominent players. By Product Devices MRI scanners CT scanners EEG devices PET sca nners Sleep monitoring devices Cerebral oximeters Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period EMG devices Intracranial pressure monitors MEG devices TCD devices Accessories Electrodes Sensors Pastes & gels Caps Batteries Cables Other accessories By Medical Condition Traumatic Brain Injury Stroke Dementia Headache Disorders Sleep Disorders Parkinson’s Disease Epilepsy Huntington’s Disease Other Diseases By End - User Hospitals Neurology Centers Ambulatory Surgery Centers (ASCs) & Clinics Diagnostic Centers Others By Region North America Europe Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period Asia - Pacific (APAC) Latin America (LATAM) Middle - East & Africa (MEA) About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantita tive data to put your business plan into action. Your well informed and timely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several prod uct or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Brain Monitoring Market Growing Dynamically: Projected to Grow at a CAGR of 5.8% in the Forecast Period