Intracranial Pressure Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Intracranial Pressure Monitoring Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The intracranial pressure monitoring market is expected to grow at a CAGR of 6.41% during the forecast period (2022 - 2027).

The COVID-19 pandemic is expected to have a significant impact on the intracranial pressure monitoring market owing to the factors such as diversion of resources to COVID-19 patients, the decline in the footfall of patients other than COVID-19 at hospitals and clinics, and cancellation or rescheduling of procedures, among other factors. However, several studies reported that COVID-19 had a severe impact on people with medical conditions like traumatic brain injury (TBI) which may have increased the demand for intracranial pressure monitoring. For instance, according to a research study published in September 2021, titled “The significant impact of Coronavirus disease 2019 (COVID-19) on in-hospital mortality of elderly patients with moderate to severe traumatic brain injury: A retrospective observational study”, the elderly patients with moderate to severe TBI experienced a considerably higher risk of in-hospital mortality if they had a coronavirus infection and the patients with COVID-19 were 5.45 times more at risk to expire before discharge than the TBI patients who were not COVID-19 positive. Hence, it is expected that COVID-19 may have a significant impact on the intracranial pressure monitoring market.

The major factor that is expected to have a profound impact on the growth of the studied market is the high burden of head and brain injury and other diseases which demand regular monitoring of intracranial pressure of the patient so that adequate medical attention can be provided to the patient on time. For instance, according to a research study published in April 2021, titled “Epidemiology of Traumatic Brain Injury in Europe: A Living Systematic Review”, according to country-level research, crude incidence rates for TBI for all ages and severity levels ranged from 47.3 per 100,000 to 694 per 100,000 people per year and 83.3 per 100,000 to 849 per 100,000 people per year (regional-level studies).

Similarly, according to the research study published in March 2022, titled “Contemporary Trends in the Nationwide Incidence of Primary Intracerebral Hemorrhage”, the overall annual incidence of Intracerebral Hemorrhage (ICH) in the United States is 23.15 per 100,000 people and it has been observed that ICH incidence increased with age and its increasing in young and middle-aged Americans. Hence, the high burden of diseases associated with the head and brain is expected to fuel growth in the intracranial pressure monitoring market over the forecast period.

In addition, with the growing burden of neurodegenerative diseases such as dementia, Alzheimer’s, Parkinson’s, and others along with the growing geriatric population who are more prone to head injuries and neurodegenerative diseases, the demand for intracranial pressure monitoring is expected to increase which is anticipated to boost growth in the intracranial pressure monitoring market. For instance, according to the September 2021 report of the World Health Organization, about 55 million people around the world were living with dementia, and nearly 10 million cases are reported every year. As per the same source, Alzheimer’s is the most common form of dementia and constitutes about 60-70% of the total cases of dementia. Further, according to the October 2021 update of the World Health Organization, the global population of people of age 60 years and more is expected to increase from 1 billion in 2020 to 2.1 billion by 2050 and these factors are collectively expected to have a significant impact on the studied market and propel the growth of the market in upcoming years.

Moreover, the growing awareness about neurodegenerative and other brain and head injuries/diseases coupled with technological advancements in the area of intracranial pressure monitoring is expected to have a positive impact on the studied market as both of these factors are expected to increase the adoption of advanced intracranial pressure monitoring devices which is anticipated to boost the market growth. For instance, in August 2020, IRRAS AB received a United States patent for its “Automatic Air Management System” and as per the company, the patent covers claims involving an automatic air management system that is used to measure intracranial pressure (ICP) via an air pressure catheter that is placed within a patient. Hence, owing to the above-mentioned factors, the intracranial pressure monitoring market is expected to grow over the forecast period. However, the lack of skilled professionals and the high cost associated with intracranial pressure monitoring is expected to restrain the growth of the market over the forecast period.

Key Market TrendsTraumatic Brain Injury Segment by Application is Expected to Have a Significant Market Share Over the Forecast Period

Traumatic brain injury (TBI) is a disruption in the normal operation of the brain that can be caused due to several factors such as a blow, bump, or jolt to the head, the head violently slamming against something, or when an object pierces the skull and penetrates the brain tissue. Depending on the degree of brain injury, TBI symptoms can range from mild to severe, mild cases could cause a momentary alteration in awareness or mental state, while in severe circumstances, the patient may experience prolonged unconsciousness, coma, or possibly pass away. Further, anyone can experience TBI but the incidence of TBI is more in older people as people in this age group are more prone to losing their balance, falling, and hitting their heads. Hence, the traumatic brain injury segment is expected to grow over the forecast period.

According to the Centers for Disease Control and Prevention's (CDC) March 2022 updated figures, there were roughly 64,000 TBI-related fatalities in the United States in 2020, as per the same source, falls are one of the main causes of traumatic brain injuries. Further, according to the research study published in April 2021, titled “Work-Related Traumatic Brain Injury in The Construction Industry in Sweden and Germany”, TBI accounts for 11–22% of all head injuries and up to 61% of severe cases in both the countries and there was the incidence of 9 per 100,000 in Sweden and 117 per 100,000 in Germany. Hence, the high prevalence of TBI is expected to have a significant impact on the growth of the studied market.

Further, according to a study titled "Comparative Effectiveness of Intracranial Hypertension Management Guided by Ventricular Versus Intraparenchymal Pressure Monitoring: A CENTER-TBI Study" published in June 2022, intracranial pressure is most frequently brought on by traumatic brain injuries, which commonly result from car accidents, violent acts, sports injuries, explosions, and other types of combat traumas, and thus, the high burden of road accidents in developing and under-developing countries are further expected to have a significant impact on the growth of TBI segment. Therefore, due to the above-mentioned factors, the traumatic brain injury segment is expected to have a significant share in the studied market over the forecast period.

North America Region is Expected Occupy Major Share in the Market Over the Forecast Period

The North American region is expected to occupy a significant market share in the intracranial pressure monitoring market over the forecast period owing to the presence of high burden of head and brain injury/diseases, robust healthcare infrastructure, and presence of some of the key players of the market in the region. For instance, according to the August 2020 report of the Canadian Government on traumatic brain injury (TBI), the estimated incidence rate of TBI n Canada is 500 per 100,000 people in a year and responsible for 18,000 hospitalizations every year. Also, as per the same source, TBI, along with epilepsy, Alzheimer's disease, and other dementias, is anticipated to rank among the most prevalent neurological diseases afflicting Canadians by the year 2031. Hence, the intracranial pressure monitoring market is expected to have significant growth in the North American region over the forecast period.

In the North American region, the United States is expected to be a major market owing to a high prevalence of diseases demanding intracranial pressure monitoring, the launch of new products, and the presence of an esteemed healthcare system in the country. For instance, according to the research study published in March 2022, titled “Contemporary Trends in the Nationwide Incidence of Primary Intracerebral Hemorrhage”, the overall annual incidence of Intracerebral Hemorrhage (ICH) in the United States is 23.15 per 100,000 people and it has been observed that ICH incidence increased with age and its increasing in young and middle-aged Americans.

Further, according to the March 2021 report of the Alzheimer’s Association, approximately 6.2 million people of age 65 years and more are living with Alzheimer’s-related dementia in the United States, and it is projected that this number will increase to 13.8 million people by 2060. Further, as per the same source, Alzheimer’s- and dementia-related deaths in the United States increased by 16% during the COVID-19 pandemic. Hence, the high prevalence of diseases is expected to have a significant impact on the market.

Additionally, the technological advancement in the devices used in monitoring intracranial pressure is further expected to boost the market growth. For instance, in November 2021, FUJIFILM Healthcare Americas Corporation launched its advanced, high-field open MRI system called Velocity MRI System during the 2021 Radiological Society of North America (RSNA). Therefore, due to the above-mentioned factors, the North American region is expected to have a significant share in the intracranial pressure monitoring market during the forecast period.

Competitive Landscape

A majority of the intracranial pressure monitoring systems and devices are manufactured by the key market players globally which makes the market a bit consolidated. Market leaders with more funds for research and better distribution systems have established their position in the market. Moreover, the Asia-Pacific region is witnessing an emergence of some small players due to increased awareness. This has also helped the market grow. Some of the key companies which are currently dominating the market are Medtronic plc, RAUMEDIC AG, Sophysa Ltd, Integra LifeSciences, and Natus Medical Incorporated.

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