Overview of this Study:
The study involved four major activities in estimating the current size of the Brain Monitoring Market. Exhaustive secondary research was done to collect information on the market and its different sub-segments. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of the segments and sub-segments.
Global Growth Driving Factors:
The propulsion of the brain monitoring market primarily stems from the escalating occurrence and prevalence of neurological disorders, heightened awareness surrounding neurodegenerative diseases, a surge in traumatic brain injuries, and the expanded utilization of brain monitoring in clinical trials. Additionally, the increasing need for non-invasive and minimally invasive devices, the broadening therapeutic applications of brain monitoring tools, and the expanding healthcare sector in emerging economies are anticipated to offer growth opportunities for market players.
Revenue Growth Growth Expectations, Globally:
The global brain monitoring market in terms of revenue was estimated to be worth $3.5 billion in 2023 and is poised to reach $4.8 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028.
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Industry Segmentation:
The accessories segment is expected to register the highest growth of the brain monitoring market
By product, the global brain monitoring market is categorized into devices and accessories. The accessories segment is expected to register the growth of the brain monitoring market in 2022. The growing population, increasing incidence of neurological disorders, technological advancements, and the rising adoption of novel accessories are expected to propel the growth of this market.
Non-invasive procedures accounted for the largest share of the brain monitoring market
By procedure, the global brain monitoring market is categorized into invasive and non-invasive. The non-invasive segment held the largest share of the brain monitoring market in 2022. Primarily attributed to the factors such as non-invasive techniques are associated with lower risks of complications, infections, and side effects compared to invasive procedures. This safety profile makes them more favorable, especially in cases where continuous or repeated monitoring is required.
Fixed devices accounted for the largest share of the modality segment of the brain monitoring market
By modality, the global brain monitoring market is categorized into fixed, portable, and wearable. The fixed devices held the largest share of the brain monitoring market in 2022. This is due to their established presence and usage in clinical settings such as hospitals, specialized healthcare facilities, and research institutions. These fixed devices are often considered the standard for comprehensive brain monitoring due to their accuracy, reliability, and advanced functionalities.
The traumatic brain injury segment accounted for the largest share of the brain monitoring market in 2022.
Based on medical condition, the brain monitoring market is segmented into traumatic brain injury (TBI), stroke, dementia, headache disorders, sleep disorders, Parkinson’s disease, epilepsy, Huntington’s disease, and other diseases. Traumatic brain injury (TBI) holds the largest share of the brain monitoring market by a medical condition. One of the primary drivers contributing significantly to the substantial market share of this segment is the increasing global prevalence of Traumatic Brain Injuries (TBIs). This surge in TBIs creates a considerable demand for managing such cases, necessitating the extensive utilization of brain monitoring devices.
End Users:
Hospitals accounted for the largest share 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 & and clinics, and other end users. The hospital segment held the largest global brain monitoring market share in 2022. Brain monitoring necessitates intricate procedures involving costly and sophisticated devices primarily available within hospital settings. Hospitals experience notably higher patient volumes than smaller clinics and other end users. Moreover, the maintenance expenses associated with brain monitoring devices substantially burden healthcare facilities, and hospitals, in particular, can manage such costs. As a result, brain monitoring devices find predominant use in hospitals, contributing to their dominance and larger market share within this segment.
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Geographical Growth Dynamics:
North America accounted for the largest share of the global brain monitoring market
Based on region, the brain monitoring market is segmented into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa, Latin America, and Middle East & Africa. North America held the largest share of the global brain monitoring market in 2022, while Asia Pacific is projected to be the fastest-growing region in the forecast period. The large share of North American brain monitoring market is due to growing number of clinical trials of brain monitoring products, availability of medical reimbursement in US, large patient population for target diseases, the strong presence of device manufacturers in the region, and the availability of significant R&D investments to support brain monitoring development.
Global Leading Players:
The global Brain Monitoring market is dominated by a few globally established players such as Medtronic (Ireland), Luciole Medical AG (Switzerland), Drägerwerk AG & Co. KGaA (Germany), Compumedics, Ltd. (Australia), Nonin Medical, Inc. (US), Integra LifeSciences Corporation (US), Advanced Brain Monitoring (US), Masimo Corporation (US), Unilabs holdings AB (Sweden), Cadwell Industries (US), NeuroWave Systems, Inc. (US), Natus Medical, Inc. (US), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (US), Siemens Healthineers (Germany), and Neurosoft (Russia).
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