The global brain monitoring market size was USD 5.4 billion in 2021 and it is anticipated to reach USD 10.1 billion in 2031, growing at a rate of 7.2% from 2022-2031.
New York, According to a new market research report published by Global Insight Services “Brain Monitoring Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
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Brain monitoring helps clinicians in monitoring the condition of the brain under the influence of anesthesia through bilateral data acquisition and processing of the EEG signals. Brain monitoring devices are used to monitor and diagnose neurological conditions by exploring the structure and function of the brain. This process involves the use of several brain monitoring devices. At present, there is an increase in the demand for electroencephalography devices among healthcare providers.
Market Trends and Drivers
The major factor boosting the growth of the market is the increasing incidence and prevalence of neurological disorders. The global incidence and prevalence of neurological disorders, like dementia, epilepsy, Parkinson’s disease, Huntington’s disease, headache disorders, multiple sclerosis, neuro infections, stroke, and cerebral palsy, have increased significantly during the last few years. Brain disorders, which comprise a combination of developmental, psychiatric, and neurodegenerative diseases, are a growing cause of morbidity worldwide. This can mainly be attributed to the growing geriatric population (by 2050, more than 20% of the global population is expected to be aged over 65 years). The American Medical Association (AMA) anticipates that at least 60% of individuals aged 65 years and above will be living with more than one chronic condition by 2030.
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Market Restraints & Challenges
One of the primary challenges in the growth of the global brain monitoring market is the high cost of complex brain monitoring procedures and devices. The high cost of brain monitoring surgeries and devices is a primary factor restraining the global brain monitoring market, majorly in developing countries with poor reimbursement policies. Brain monitoring devices are highly complex, and the procedures involving the use of these devices are generally expensive. For example, the average cost of a standard EEG is ~USD 200–700; this procedure can cost as high as USD 3,000 for extended monitoring. A dual-channel TCD costs approximately USD 3,000–3,200, and an ICP monitor costs approximately USD 340–500. Similarly, a single MEG system costs roughly USD 2.5–3 million. Owing to the high price, healthcare facilities, even in countries that show wide adoption of high-tech medical equipment, find it difficult to procure MEG devices. Moreover, the maintenance cost and other associated indirect expenses increase the total cost of ownership of these devices, so limiting their adoption.
Major Players of the Global Brain Monitoring Market
The global brain monitoring market report includes players such as Advanced Brain Monitoring, Inc. , CAS Medical Systems, Inc. , Compumedics Ltd. , General Electric Company (GE Healthcare) , Koninklijke Philips N.V. (Philips Healthcare) , Medtronic Plc. , Natus Medical Incorporated , NovaSignal , Siemens AG , Cadwell Laboratories , Neurosoft Limited , Elekta A.B. , InfraSacn, Inc. , BrainScope Company, Inc. among others.
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Reasons to buy Brain Monitoring Market Report:
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• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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