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Intracranial Pressure (ICP) monitoring devices Market valued at USD 1.56 billion in 2022

VANCOUVER, BRITISH COLUMBIA, CANADA, June 10, 2024 /EINPresswire.com/ -- The global market for Intracranial Pressure (ICP) monitoring devices Market valued at USD 1.56 billion in 2022, is poised for substantial growth, with a projected compound annual growth rate (CAGR) of 7.6% over the forecast period. This growth is largely driven by the increasing prevalence of Traumatic Brain Injuries (TBIs), with 69,473 TBI-related deaths recorded in 2021, according to the Centers for Disease Control and Prevention (CDC).

ICP monitoring devices are critical for assessing the severity of TBIs and ensuring accurate monitoring of intracranial pressure. TBIs often result from road accidents, which can lead to complications like skull fractures and intracranial hemorrhages (ICH). The World Health Organization (WHO) reports that road traffic crashes cause approximately 1.19 million deaths annually, making them the leading cause of death for children and young adults aged 5–29 years.

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Market Drivers:

Aging Population: The growing aging population significantly contributes to the market growth. ICP devices are essential for managing conditions such as hydrocephalus and dementia, which are prevalent among older adults. The WHO predicts that by 2050, 80% of older people will reside in low- and middle-income countries, further driving the demand for ICP monitoring devices.

Minimally Invasive Surgery: The increasing preference for minimally invasive surgical procedures is expected to boost market revenue. These surgeries, favored for their smaller incisions and easier recovery, are increasingly incorporating advanced ICP monitoring technologies. Key market players are developing devices that provide real-time procedural video and image data, enhancing the effectiveness of neurosurgical applications.

Intracranial Pressure Monitoring Devices Top Companies and Competitive Landscape

The global Intracranial Pressure monitoring devices market is fairly fragmented with many large and medium-sized players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, evaluating, and introducing ICP monitoring devices solutions.

Some major players included in the Intracranial Pressure monitoring devices market report are:

Medtronic

RAUMEDIC AG

Sophysa

Orsan Medical Technologies Ltd.

Integra LifeSciences

de

Natus Medical Incorporated

Gaeltec Devices Ltd.

Johnson & Johnson Services, Inc.

Camino Health Center

Braun SE

Medical Device Business Services, Inc.

InfraScan, Inc.

HEADSENSE MEDICAL INC

NeuroLogica Corp.

Gaumard Scientific

TTI Medical

AngioDynamics Inc.

Merit Medical Systems Inc.

Profound Medical Corp.

Intracranial Pressure Monitoring Devices Latest Industry News

On 6 November 2023, Cranio Sense announced that it will use Flexible Hybrid Electronics for its Intracranial Pressure and Assessment screening system (IPASS) because as IPASS can eliminate the surgery procedure and can be applied to the forehead for reading.

Market Developments:

In August 2023, Viseon Inc. launched the Viseon Max View 4k system, a cutting-edge device offering real-time procedural video recording and still image capture. This system is particularly beneficial for Ambulatory Surgery Centers (ASC), enabling better teaching and presentation capabilities for surgeons.

On June 28, 2023, Luciole Medical acquired Spiegelberg, aiming to enhance its offerings in cerebrospinal fluid drainage, intracranial pressure measurement, and intra-abdominal pressure (IAP) measurement.

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Market Restraints:

The high cost of ICP monitoring devices remains a significant barrier to market growth. Despite their effectiveness in reducing intraoperative recall risks, the expensive nature of these devices limits their widespread adoption.

Segment Insights:

Technique: The market is segmented into invasive and non-invasive techniques. In 2022, the invasive segment, which includes External Ventricular Drainage (EVD) and micro transducer ICP monitoring, held the largest market share. This dominance is attributed to the widespread adoption of EVD for temporary cerebrospinal fluid (CSF) drainage. Meanwhile, the non-invasive segment is experiencing moderate growth due to the increasing use of transcranial Doppler ultrasound and other non-invasive diagnostic methods.

Application: The market is also segmented by application into TBIs, intracerebral hemorrhage, meningitis, and others. The TBI segment is expected to maintain a significant market share due to the rapid adoption of ICP monitoring devices in TBI treatment, aiding healthcare practitioners in evaluating brain injury severity and customizing treatment plans. The intracerebral hemorrhage segment is projected to grow steadily, driven by the rising prevalence of conditions like hypertension and vascular abnormalities.

Intracranial Pressure Monitoring Devices Market Segment Analysis

For the purpose of this report, Emergen Research has segmented the global Intracranial Pressure (ICP) monitoring devices market on the basis of technique, application, and region:

Technique Outlook (Revenue, USD Billion; 2019-2032)

Invasive

External ventricular drainage

Micro transducer ICP monitoring

Non-invasive

Transcranial Doppler ultrasonography

Tympanic membrane displacement

optic nerve sheath diameter

Magnetic Resonance Imaging (MRI)/Computed Tomography (CT)

Application Outlook (Revenue, USD Billion; 2019-2032)

Traumatic Brain Injury (TBI)

Intracerebral hemorrhage

Meningitis

Others

Regional Outlook (Revenue, USD Billion; 2019–2032)

North America

U.S.

Canada

Europe

Germany

France

UK

Italy

Spain

Benelux

Russia

Rest of Europe

Asia Pacific

China

Japan

South Korea

India

ASEAN Countries

Oceania

Rest of APAC

Latin America

Brazil

Mexico

Rest of LATAM

Middle East & Africa

GCC Countries

Israel

Turkey

South Africa

Rest of Middle East & Africa

The global ICP monitoring devices market is on a trajectory of robust growth, propelled by the increasing incidence of TBIs, advancements in minimally invasive surgical technologies, and a rising aging population. Despite challenges such as high costs, ongoing innovations and strategic collaborations among key market players are set to enhance the market's potential and improve patient outcomes in neurosurgical care.

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This press release provides an overview of the factors driving the growth of the Intracranial Pressure monitoring devices market, highlighting key trends, market segments, and recent developments.

Eric Lee
Emergen Research
+91 90210 91709
sales@emergenresearch.com
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