Drivers: Increasing incidence and prevalence of neurological disorders

The global incidence and prevalence of neurological disorders, such as dementia, epilepsy, Parkinson's disease, Huntington's disease, headache disorders, multiple sclerosis, neuro infections, stroke, and cerebral palsy, have increased significantly over the years. Brain disorders, which include a combination of developmental, psychiatric, and neurodegenerative diseases, are a growing cause of morbidity across the globe.

This can primarily 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) estimates that at least 60% of individuals aged 65 years and above will be living with more than one chronic condition by 2030.

Restraints: Research High cost of complex brain monitoring procedures and devices

The high cost of brain monitoring surgeries and devices is a major factor restraining the global brain monitoring market, especially 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 instance, 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. Likewise, a single MEG system costs roughly USD 2.5-3 million.

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Projected Surge in Revenue Generation:

The global brain monitoring market size is projected to reach USD 8.0 billion by 2026 from USD 5.8 billion in 2021, at a CAGR of 6.5%.

Opportunities: The increasing demand for non-invasive and minimally invasive devices

Invasive monitoring is a complex, painful, and risky process, as it involves direct intervention with sensitive brain tissue. Doctors and patients, therefore, show a high inclination toward the use of non-invasive or minimally invasive brain monitoring devices.

Owing to their advantages, there has been a rapid increase in the demand for non-invasive ICP monitors, TCD devices, tympanic membrane displacement procedures, optic nerve sheath diameter, CT scan/MRI, and fundoscopy, which are reliable alternatives to invasive techniques, thus compelling players in this market to develop and commercialize such products.

By end user -type, the hospital segment accounted for the largest share 57.8% of the brain monitoring market in 2020.

Based on end-users, the global market is segmented into hospitals, neurology centers, diagnostic centers, ASCs & clinics, and other end users. The hospital segment held the largest share 57.8 % of the global market in 2020. Brain monitoring is a complex process, requiring expensive and advanced devices and equipment that are mainly found in hospitals. Hospitals also see a considerably larger inflow of patients as compared to small clinics and other end users.

Additionally, brain monitoring devices pose a considerable burden in terms of maintenance expenses on healthcare facilities; hospitals, more than other end-users, can bear such costs. Hence, brain monitoring devices are mostly used in hospitals, which consequently account for the largest share of this market segment.

North America accounted for the largest share 38% of the global brain monitoring market in 2020.

The global market, by region, is segmented into North America, Europe, APAC, and the RoW. North America accounted for the largest share of the global market in 2020. This can be attributed to the growing incidence of neurological diseases, a growing number of clinical trials of brain monitoring products, and the availability of medical reimbursement in the US.

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Global Leading Companies:

Some of the leading players in the Brain Monitoring market include Natus Medical, Inc. (US), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (US), Siemens Healthineers (Germany), Compumedics, Ltd. (Australia), Medtronic (Ireland), Edwards Lifesciences Corporation (US), Drägerwerk AG & Co. KGaA (Germany), Advanced Brain Monitoring (US), Masimo Corporation (US), Spiegelberg GmbH & Co. KG (Germany), Cadwell Industries (US), NeuroWave Systems, Inc. (US), Nonin Medical, Inc. (US), Integra LifeSciences Corporation (US), Neurosoft (Russia), CGX (a Cognionics Company) (US), Emotive (US), InfraScan, Inc. (US), Neusoft Medical Systems Co., Ltd. (China), Clinical Science Systems (Netherlands), Noraxon (US), SternMed GmbH (Germany), and Rimed (US).

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