Intra-cranial Pressure Monitor Market Analysis 2020, Industry Report Analysis, Technology Advancement, Top Companies, Business Insight, Opportunities, Regional Revenue Forecast to 2025
Intracranial Pressure (ICP) Monitoring Market Research Report: Information by Route of Intervention (Intraventricular and Epidural Sensor), Technique (Invasive and Non-Invasive), Application (Traumatic Brain Injury and Subarachnoid Hemorrhage), Device (Intraventricular Catheter and Epidural Sensors), End-User (Hospitals and Clinics, Trauma Centers and others) and Region (Americas, Europe, Asia-Pacific and Middle East & Africa) - Global Forecast Till 2024
The intracranial pressure (ICP) monitoring devices are generally used for measuring the pressure developed between the brain and cranium caused by trauma or other reasons. These devices are used for monitoring the post-operative procedures among patients especially with skull injury and neurosurgery. Increasing brain and skull related accidents and trauma are fueling growth of the global intracranial pressure (ICP) monitoring market. As per the Centers for Disease Control and Prevention (CDC), in 2017, 30% of the injury deaths are attributable to traumatic brain injury in the U.S. Additionally, the market is likely to expand on the back of continuously improving technologies coupled with robust unmet need for novel medication globally. Thanks to these factors, the Intra-cranial Pressure Monitor Market is estimated to expand by exhibiting a CAGR of 7.1% during the forecast period from 2015 to 2024.
However, the factors, including the
high costs involved in the intracranial pressure (ICP) monitoring devices and
risks of recalls, are hampering the growth of the market. For instance,
recently, in 2019, the U.S. Food and Drugs Administration (FDA) announced
recall of Integra LifeSciences’ MoniTorr Intracranial Pressure (ICP) External
CSF Drainage and Monitoring Systems and LimiTorr Volume Limiting Cerebrospinal
Fluid (CSF) Drainage System. Nonetheless, factors such as increasing investment
and continuous observation of newer devices and are offering breakthroughs to
the most suitable devices, which are likely to provide robust opportunities for
growth in the coming years.
Competitive Analysis:
Some of the major companies in
the global intracranial pressure (ICP) monitoring market include DePuy Synthes,
Integra LifeSciences Corporation, Spiegelberg GmbH & Co. KG, Sophysa SA, RAUMEDIC
Inc., Boston Neurosciences, Terumo Corporation, Medtronic Plc, and Natus
Medical Incorporated.
Segmentation:
The global intracranial pressure
(ICP) monitoring market is segmented into technique, route of intervention, application,
end user, device, region.
Based on the route of
intervention, the market is segmented into epidural sensor, intraventricular, and
others.
Based on the technique, the
market has segmented into invasive and non-invasive. Of these, the invasive
segment is further segmented into tympanic membrane displacement (TMD)
analyzer, transcranial doppler ultrasonography, optic nerve sheath diameter
sonography, MRI/CT, and fundoscopy (papilledema).
Based on the application, the intracranial
pressure (ICP) monitoring market is segregated into subarachnoid hemorrhage, intracerebral
hemorrhage, traumatic brain injury, meningitis, and others.
On the basis of the device, the
market is segmented into subarachnoid screws, intraventricular catheters, fiber-optic
monitors, non-invasive ICP monitors, and epidural sensors. Of these, the
intraventricular catheter segment accounted for the largest market share in
2017 and reached a value of USD 559.1 million in the year and is likely to
remain dominant by accounting revenue of USD 922.7 Million by 2024.
Based on the end user, the market
is segmented into trauma centers, hospitals and clinics, and others. Of these,
the hospitals and clinics segment are dominating the market and is projected to
reach USD 1299.5 million by the end of 2024.
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Regional Analysis:
Regionally, the intracranial
pressure (ICP) monitoring market is segmented into the Americas,
Asia Pacific, Europe, and Middle East & Africa. Of these, the Americas region
is estimated to hold the largest share in the revenue by the end of the forecast
period by grabbing the value of USD 844.8 million by 2024 owing to increasing
cases of trauma and skull injuries in the region. Additionally, Europe is
estimated to hold a second leading position in 2017 owing to increasing
investment for the adoption of advanced healthcare options in the region.
Industry News:
In 2019, Integra LifeSciences
announced that it had acquired neurosurgical devices maker Arkis Biosciences.
This way, Integra LifeSciences is taking steps toward the intracranial pressure
(ICP) monitoring market.
In 2019, IRRAS AB announced that
it had received regulatory approval for flagship product – IRRAflow from the
Ministries of Health in Israel and Costa Rica.
Such product approvals, new
launches, and new entrants in the market are estimated to fuel the global
intracranial pressure (ICP) monitoring market.
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