Intracranial Pressure (ICP) Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Products and Systems, Solutions and Platforms, and Services), Type (Invasive and Non-Invasive), Application (Traumatic Brain Injuries

Intracranial Pressure (ICP) Monitoring Devices Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Offering (Products and Systems, Solutions and Platforms, and Services), Type (Invasive and Non-Invasive), Application (Traumatic Brain Injuries, Reye’s Syndrome, Non-Traumatic Bleeds, Hydrocephalus, Space-Occupying Lesions, Cerebral Oedema, and Others), End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and Geography

The intracranial pressure (ICP) monitoring devices market size is expected to reach US$ 2.43 billion by 2028 from US$1.67 billion in 2022; it is estimated to record a CAGR of 6.5% from 2022 to 2028.

Traumatic brain injury (TBI) often occurs due to severe sports injuries or road accidents. Four main TBI types exist concussion, contusion, penetrating injury, and anoxic brain injury. The symptoms of TBI depend on the extent of damage to the brain. According to the Centers for Disease Control and Prevention (CDC), there were more than 69,000 TBI-related deaths in the US in 2021, about 190 TBI-related deaths daily.

Further, a report by the Brain Injury Association of New York State (BIANYS) estimated that 35.2% of the total TBI cases in the US are due to falls, 17.3% due to motor vehicle traffic crashes, 16.5% due to struck by/against events, and 10% due to assaults. CDC estimates that 1.6–3.8 million sports and recreation-related concussion cases occur annually in the US. 10% of all contact sports athletes sustain concussions every year. Brain injuries cause more fatalities than any other sports injury, ranging from 65% to 95% of all the casualties in football.

As per the Headway, the brain injury association, the UK reported 356,699 hospital admissions due to brain injury during 2019–2020, a 12% rise from 2005 to 2006. It also mentioned that admissions of males due to head injury were 1.5 times more than the admissions of females during 2019–2020.

As per the research study published in June 2021, BG Kliniken chain of hospitals under the direction of the Neurological Clinic of the Ruhr Universität Bochum (RUB) of the BG University Hospital Bergmannsheil, every year, around 270,000 people suffer from a traumatic brain injury in Germany. Additionally, according to the Australian Bureau of Statistics, yearly over 700,000 people in Australia suffer from a brain injury, with daily “activity limitations” and “participation restrictions.”

Thus, the rising incidence of traumatic brain injuries fuels the growth of the global intracranial pressure (ICP) monitoring devices market.

The intracranial pressure (ICP) monitoring devices market, by offering, is fragmented into products and systems, solutions and platforms, and services. In terms of type, the intracranial pressure (ICP) monitoring devices market is categorized into invasive and non-invasive. In 2022, the invasive segment held the largest share and non-invasive segment is expected to grow at a CAGR during the forecast period. The growth of the invasive segment is expected to grow due to the advantages of invasive ICP monitoring devices such as invasive techniques can measure ICP at various intracranial anatomical locations.Based on application the market is segmented into traumatic brain injury, Reye’s syndrome, non- traumatic bleeds, hydrocephalus, space-occupying lesions, cerebral oedema, and others.

The intracranial pressure (ICP) monitoring devices market is geographically segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. In terms of revenue, in North America, the US is the largest market for ICP monitoring devices. Asia Pacific is expected to attain the fastest global intracranial pressure (ICP) monitoring devices market growth.

The intracranial pressure (ICP) monitoring devices market majorly consists of players such as Natus Medical Inc; RAUMEDIC AG; Sophysa SA; Integra LifeSciences Holdings Corp; Medtronic Plc; Braincare Desenvolvimento e Inovacao Tecnologica SA; NovaSignal Corp; Digitimer Ltd; Longeviti Neuro Solutions LLC, and Spiegelberg GmbH & Co KG. The companies have been implementing various strategies that have helped their growth and, in turn, have brought about various changes in the market. The companies have utilized organic strategies (such as launches, expansion, and product approvals) and inorganic strategies (such as product launches, partnerships, and collaborations)

The World Health Organization (WHO), the Centers for Disease Control and Prevention (CDC), National Institute of Biologicals (NIB), Canadian Institutes of Health Research, International Trade Administration and National Institute for Health and Care Excellence are a few key primary and secondary sources referred to while preparing the report on the intracranial pressure (ICP) monitoring devices market market.

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