Brain Monitoring Market worth $8.0 billion by 2026

The global brain monitoring market in terms of revenue was estimated to be worth $5.8 billion in 2021 and is poised to reach $8.0 billion by 2026.

Overview of This Study:

This study involved four major activities in estimating the size of brain monitoring market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research.

The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Global Growth Driving Factors:

The brain monitoring market is mainly driven by factors such as the increasing incidence and prevalence of neurological disorders, rising awareness of neurodegenerative diseases, growth in the number of traumatic brain injuries, and growing applications of brain monitoring in clinical trials.

On the other hand, the high cost of complex brain monitoring procedures and devices, unfavorable reimbursement policies, and the shortage of trained professionals to effectively operate brain monitoring devices are restraining the growth of this market.

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Revenue Growth Expectations:

The global brain monitoring market in terms of revenue was estimated to be worth $5.8 billion in 2021 and is poised to reach $8.0 billion by 2026, growing at a CAGR of 6.5% from 2021 to 2026.

The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market.

The devices segment accounted for the largest share 74.9% of the brain monitoring market.

By product, the global brain monitoring market is categorized into devices and accessories. The devices segment held the largest share 74.9% of the brain monitoring market in 2020. This is mainly due to the rising incidence of neurological, neurodegenerative, psychotic, and sleep disorders, the need for early diagnosis, the availability of innovative portable and wearable home-based monitoring devices, and increasing patient awareness.

Hospitals accounted for the largest share 57.8% of the end user segment of the brain monitoring market.

Based on end-users, the global brain monitoring devices 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 brain monitoring 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 38.0% of the global brain monitoring market

North America, Europe, the Asia Pacific, and the Rest of the World. North America held the largest share 38.0% of the global brain monitoring market in 2020, while the Asia Pacific is projected to be the fastest-growing region in the forecast period. The high growth rate of the market in the Asia Pacific region can be attributed to the availability of low-cost labor and skilled manpower, increase in disposable incomes, rising prevalence of neurodegenerative disorders, and increasing government emphasis on healthcare reforms in the region.

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Recent Developments:

# In 2021, Innovative Medcare Technology PTY Ltd. signed a contract with Spiegelberg for distributing Spiegelberg's product portfolio in Australia New Zealand.

# In 202, Received FDA approval for the Neuroscan Orion LifeSpan MEG

# In 2018, GE Healthcare launched its SIGNA Premier 3.0T magnetic resonance imaging (MRI) system in Canada.

# In March 2018, Nihon Kohden (Japan) launched aireeg WEE-1200, a wireless EEG system that provides real-time data during long-term epilepsy monitoring, intensive care, and routine EEG

# In 2018, Philips collaborated with Samsung Electronics to connect Samsungrsquo;s ARTIK Smart IoT Platform to Philips' HealthSuite Digital Platform. This addressed the growing need for connected health platforms that can safely access, share, and analyze information, helping health systems and providers achieve their goal of delivering better care to consumers.

# In 2017, Natus acquired the global Camino ICP monitoring product line, including its San Diego manufacturing facility, from Integra. The sale also included the US rights to Integra#39;s fixed-pressure shunts, as well as US rights to Codman's DURAFORM dural graft implants, standard EVD catheters, and CSF collection systems.

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Makarand Vaidya

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