Brain monitoring devices Market Insights, Competitive Landscape and Market Forecast–2027

Brain monitoring devices Market Insights, Competitive Landscape and Market Forecast–2027

Brain Monitoring Devices Market By Product Type (EEG Devices, Meg Devices, EMG Devices, Transcranial Ultrasound Doppler, Intracranial Pressure Monitoring Devices, and Others), By Device Type (Invasive and Non Invasive), By Application (Epilepsy, Parkinson’s Disease, Alzheimer’s Disease, Strokes, and Others), By End User (Hospitals, Diagnositc Centers, and Others), and By Geography is expected to grow at a steady CAGR (Forecast Period- 2022-2027) owing to Increasing Prevalence of Neurological Diseases and Rising Application of Brain Monitoring in Clinical Trials

Global Brain Monitoring Devices Market was valued at USD 6.31 billion in 2021, growing at a CAGR of 7.27% during the forecast period from 2022 to 2027, to reach USD 9.61 billion by 2027. The demand for brain monitoring devices is primarily being boosted by rising prevalence of neurological diseases, technological advancement in product development, rising awareness about neurodegenerative diseases, and increasing applications of brain monitoring in clinical trials. The growing demand for minimally invasive devices and the expanded therapeutic applications of brain monitoring devices are further expected to boost the brain monitoring devices market growth.

Brain Monitoring Devices Market Dynamics:

According to the data provided by the World Health Organization (WHO), approximately 50 million people across the globe are suffering from epilepsy, making it one of the most common neurological diseases globally in 2019. Near about 80% people with epilepsy live in low- and middle-income countries. Furthermore, it is predicted that up to 70% of people living with epilepsy could live seizure- free if properly diagnosed and treated.

As per the data provided by WHO for dementia, in 2020, about 50 million people have dementia, and there are nearly 10 million new cases every year. Alzheimer's disease is the commonest form of dementia and contribute to 60–70% of cases.

According to the data provided by the Alzheimer Europe for 2019, the number of people living with dementia in the European Union (EU27) is predicted to be 7,853,705 and in European countries represented by AE members, 9,780,678. It has been estimated that the numbers will almost double by 2050 increasing to 14,298,671 in the EU and 18,846,286 in the wider European region.

The rising number of neurological diseases such as mentioned above would result in the greater requirement for devices used in monitoring disease progression along with the monitoring of treatment regimen being successful or not. Therefore, the demand for brain monitoring devices is expected to witness an increase in the forecast period.

However, non-availability of the required healthcare infrastructure in developing economies, high treatment cost, and safety concerns regarding implantable devices may prove to be certain restraints to the brain monitoring devices market growth.

Brain Monitoring Devices Market Segment Analysis:

Brain Monitoring Devices by Product Type (Electroencephalography Devices, Magnetoencephalography Devices, Electromyography Devices, Transcranial Ultrasound Doppler, Intracranial Pressure Monitoring Devices, And Others), Brain Monitoring Devices by Device Type (Invasive And Non Invasive), Brain Monitoring Devices by Application (Epilepsy, Parkinson’s Disease, Alzheimer’s Disease, Strokes, And Others), Brain Monitoring Devices by End User (Hospitals, Diagnostic Centers, And Others), and Brain Monitoring Devices by Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the product segment of the Brain Monitoring Devices Market, the EEG devices segment is expected to account for the largest market share during the forecast period. In clinical contexts, electroencephalography (EEG) refers to the recording of the spontaneous electrical activity of the brain over a short period of time which is recorded from multiple electrodes placed on the scalp. EEG finds its applications in epilepsy cases, as epileptic activity is exhibits clear abnormalities on a standard EEG study. EEG studies are also considered significant in the diagnosis of encephalopathy, coma, and brain death. This can be attributed to the rising prevalence of neurological disorders such as epilepsy and sleep disorders. As per the data by Sleep foundation for 2021, approximately 10-30% of people suffer from chronic insomnia in the United States. EEG devices are also employed in studying sleep disorders as they detect the sleep disorders include insomnia and stress-related disorder depend on the severity of the disorders. Sleep during an EEG allows for a comprehensive evaluation of brain activity. It also increases the chances of the identification of an abnormality if present. Furthermore, these devices are employed in carrying out are one of the preliminary tests used in the diagnoses as well monitoring of neurological indications. EEG studies are also used as supportive evidence in cases where a patient has to be declared brain dead or is in coma.

Technological advancements such as the launch of wireless EEG systems where in long-term EEG studies can be carried out have also contributed in the rising popularity of these devices among healthcare providers.

In 2018, Masimo got FDA clearance for next-generation SedLine brain function monitoring. SedLine helps clinicians monitor the state of the brain under anesthesia, with bilateral acquisition and processing of four leads of electroencephalogram (EEG) signals.

Therefore, the constant technological advancements coupled with the extended application of EEG devices present a positive outlook for the EEG devices among other product types in the brain monitoring devices market.

North America is expected to dominate the overall Brain Monitoring Devices Market:

Among all the regions, North America is expected to account for the largest share in the brain monitoring devices market. The growing prevalence of neurological diseases, access to better healthcare infrastructure coupled with the presence of major market players in the region are predicted to be the major influencing factors in driving the overall growth of the market over the forecast period.

As per the data provided by Parkinson’s foundation, about one million people are living with the Parkinson’s disease (PD) in the US in 2021. This is expected to rise to 1.2 million by 2030. It has been estimated that approximately 60,000 Americans are diagnosed with PD each year. Near bout four percent of people with PD are diagnosed before age 50.

According to the Centers of Disease Prevention and Control (CDC), there were about 61,000 traumatic brain injury (TBI)-related deaths in the United States in 2019. These statistics point toward the rising number of cases associated with neurological indications.

Furthermore, in August 2020, Masimo received FDA clearance for O3® Regional Oximetry for expanded use in monitoring somatic tissue oxygenation saturation in all patient populations and monitoring relative changes in hemoglobin, oxyhemoglobin, and deoxyhemoglobin in adult patients.

Considering the presence of large patient pool in the US coupled with new product launches, the market for brain monitoring devices looks promising in the United States.

Brain Monitoring Devices Market Key Players:

Some of the key market players operating in the brain monitoring devices market includes NONIN, Raumedic AG, Masimo, Natus Medical Incorporated, Edwards Lifesciences Corporation, Neurosoft, Advanced Brain Monitoring, Inc, BrainScope Company Inc, Medtronic, NIHON KOHDEN CORPORATION, NeuroWave Systems Inc, Compumedics Limited, Spiegelberg GmbH & Co. KG, Rimed, NOVASIGNAL CORPORATION, and others.

Recent Developmental Activities in Brain Monitoring Devices Market:

• In April 2021, Integra LifeSciences Corporation received a 510(k) clearance by the US Food and Drug Administration for CereLink ICP Monitor. This device is intended to be used as an interface between standard physiological pressure monitoring systems and compatible strain-gauge type pressure transducers.
• In March 2021, Brain Scientific Inc received a 510(k) clearance for its next generation NeuroCap™ device. This device is an advanced Electroencephalogram (EEG) electrode array which is employed in routine clinical and research settings to obtain rapid EEGs where STAT EEG recordings are desired.
• In February 2020, Compumedics Limited received a 510k clearance by the US FDA for their Orion LifeSpan MEG. This device is equipped to non-invasively measure the magnetoencephalographic (MEG) signals with the option to measure electroencephalographic (EEG) signals as well which are produced by electrically active tissue of the brain.

Key Takes Away from the Brain Monitoring Devices Market Report Study

• Market size analysis for current market size (2021), and market forecast for 5 years (2022-2027)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the brain monitoring devices market.
• Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
• Key companies dominating the Global Brain Monitoring Devices Market.
• Various opportunities available for the other competitor in the Brain Monitoring Devices Market space.
• What are the top performing segments in 2021? How these segments will perform in 2027.
• Which is the top-performing regions and countries in the current brain monitoring devices market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for brain monitoring devices market growth in the coming future?

Target Audience who can be benefited from this Brain Monitoring Devices Market Report Study

• Brain Monitoring Devices products providers
• Research organizations and consulting companies
• Brain Monitoring Devices-related organization, association, forum, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in brain monitoring devices
• Various End-users who want to know more about the Brain Monitoring Devices market and latest technological developments in the Brain Monitoring Devices market.

Frequently Asked Questions for Brain Monitoring Devices Market:

What is a Brain Monitoring Device?

A brain monitoring device helps is the assessment and monitoring of the brain function wherein they help in the monitoring of different parameters. EEG, MEG, and functional MRI are a few common brain monitoring devices available in the brain monitoring products market among others.

What is the market for Global Brain Monitoring Devices?

Global Brain Monitoring Devices Market was valued at USD 6.31 billion in 2021, growing at a CAGR of 7.27% during the forecast period from 2022 to 2027, to reach USD 9.61 billion by 2027.

What are the drivers for Global Brain Monitoring Devices Market?

The major drivers of the global brain monitoring devices market growth are rising prevalence of neurological diseases, growing awareness about neurodegenerative diseases, and the expansion of brain monitoring devices to therapeutic applications among other contributing factors.

What are the key players operating in Global Brain Monitoring Devices Market?

Some of the important market players operating in the brain monitoring devices market includes NONIN, Raumedic AG, Masimo, Natus Medical Incorporated, Edwards Lifesciences Corporation, Neurosoft, Advanced Brain Monitoring, Inc, BrainScope Company Inc, Medtronic, NIHON KOHDEN CORPORATION, NeuroWave Systems Inc, Compumedics Limited, Spiegelberg GmbH & Co. KG, Rimed, NOVASIGNAL CORPORATION, and others.

What regions has the highest share in Brain Monitoring Devices market?

North America is expected to dominate the overall Brain Monitoring Devices market during the forecast period, 2022 to 2027. The high revenue domination across regions by North America can be attributed to the prevalence of neurodegenerative diseases, access to better healthcare infrastructure in the region majorly in the US and Canada along with the presence of major market players in the region. These are expected to be the major influencing factors in driving the overall growth of the brain monitoring devices market over the forecast period.

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