Intracranial Pressure Monitors Market: Upswing in Brain injuries Demands Increased Application

As the global intracranial pressure monitors market undergoes a paradigm shift from invasive to non-invasive devices, manufacturers are facing intense competition, prompting them to focus on technological advancements. Leading players such as Integra LifeSciences Corp., Medtronic Inc., and Codman & Shurtleff Inc. are aggressively integrating advanced technologies in their products. In line with this trend, companies are now racing to introduce next-generation products in the market.

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Looking forward, untapped markets in emerging economies are likely to offer lucrative opportunities to participants. Entering into strategic partnerships with local players will help major companies to seize better shares in the market.

Intracranial Pressure Monitors Gain Impetus from Rising Incidence of Traumatic Injuries

“The frenzied lifestyle of people across the world has increased the frequency of traumatic injuries and augmented the prevalence of strokes, thereby escalating the demand for intracranial pressure monitors,” says an analyst at TMR. Cranial injuries and head trauma are mostly caused by road and industrial accidents, which lead to death or permanent disability for hundreds of individuals every year. Elevated intracranial pressure causes around 2 casualties in every 10 cases of head injuries across the world. The increasing reports of brain injuries in adults as well as pediatric patients have also fueled the demand for intracranial pressure monitoring significantly.

Strokes are another prominent factor that has escalated the application of these pressure monitors. Large hemispheric strokes increase the cerebral perfusion pressure and enhance the mean flow velocity of the middle cerebral arteries in the patient, raising the intracranial pressure. The growing prevalence of high blood pressure among people across the world has augmented the frequency of strokes, thereby boosting the demand for intracranial pressure monitors substantially.

Hitherto, the risk associated with the invasive nature of intracranial pressure monitors, such as bacterial infections, hampered their adoption across the world. The reports about cerebrospinal fluid infection, which sometimes leads to fatal consequences, have limited the application of intracranial pressure monitors significantly.

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Despite North America’s Claim on Leadership, Asia Pacific to Emerge Prominently

Despite of being hindered by these factors, the global market for intracranial pressure monitors has a bright future ahead of it. TMR expects this market to expand at a CAGR of 6.30% during the period from 2015 to 2023, with market opportunity swelling from US$0.94 bn in 2014 to US$1.63 bn by the end of the forecast period.

Currently, North America holds the largest share in this market and will continue to lead over the next few years. However, the future of this market lies in Asia Pacific. The rapid increase in geriatric population, rising prevalence of cerebrovascular disorders, and escalating healthcare expenditure in this region together are likely to offer rewarding opportunities to participants in the coming years.

This study is based on the findings of a TMR report titled “Intracranial Pressure Monitors Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023.”

The global intracranial pressure monitors market has been segmented as follows:

Intracranial Pressure Monitors Market, by Type

External Ventricular Drainage System
Lumbar Drainage System
Microtransducer ICP Monitoring Devices
Fiber Optic Devices
Strain Gauge Devices
Pneumatic Sensors
Non-invasive ICP Monitoring System
Intracranial Pressure Monitors Market, by Application

Traumatic Brain Injury
Intracerebral Hemorrhage
Meningitis
Subarachnoid Hemorrhage
Others
Global Intracranial Pressure Monitors Market, by End-user

Trauma Centers
Hospitals
Global Intracranial Pressure Monitors Market, by Geography

North America
Europe
Asia Pacific
Rest of the World (RoW)

Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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This release was published on openPR.