The global Intracranial Pressure Monitoring Devices Market Growth Accelerated by Rising Incidence of Traumatic Brain Injuries

 

Intracranial pressure monitoring devices play a crucial role in monitoring of intracranial pressure which is essential for accurate diagnosis, prognosis and treatment of conditions related to head injuries, stroke and other neurosurgical conditions. Intracranial pressure monitoring is necessary after severe head injuries, subarachnoid hemorrhage and other intracranial pathologies where accurate monitoring is important to guide treatment and improve patient outcome. The global Intracranial Pressure Monitoring Devices Market is estimated to be valued at US$ 1.68 Bn in 2023 and is expected to exhibit a CAGR of 7.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Rising incidence of traumatic brain injuries (TBIs) has been a significant driver of the intracranial pressure monitoring devices market. According to Centers for Disease Control and Prevention (CDC), every year more than 2.8 million TBI-related Emergency Department (ED) visits, hospitalizations, and deaths occur in the United States. Out of these, TBI contributed to nearly one-third of all injury-related deaths in the US. TBIs could lead to increased intracranial pressure which requires continuous monitoring using intracranial pressure monitoring devices. Thus, increasing cases of TBIs have resulted in high demand for intracranial pressure monitoring exacerbating market growth over the forecast period.
Segment Analysis

The global intracranial pressure monitoring devices market is dominated by invasive intracranial pressure monitoring devices sub-segment, which holds around two-thirds of the overall market share. Invasive intracranial pressure monitoring devices provide direct measurement of intracranial pressure inside the skull and brain, ensuring high accuracy. This sub-segment is expected to continue dominating the market during the forecast period due to the growing preference of neurosurgeons for direct measurement technologies.

Key Takeaways

The global intracranial pressure monitoring devices market is expected to witness high growth at a CAGR of 7.9% during the forecast period of 2023-2030. The market size is projected to reach US$ 2.87 Bn by 2030 from US$ 1.68 Bn in 2023.

Regional analysis

North America currently dominates the global market and is expected to continue dominating during the forecast period. High prevalence of traumatic brain injuries, growing geriatric population, and favourable reimbursement policies are some of the key factors driving the growth of intracranial pressure monitoring devices market in North America. Asia Pacific market is expected to witness fastest growth during the forecast period, owing to increasing healthcare expenditure, growing awareness regarding neurosurgical procedures, and rising incidences of traumatic brain injuries in the region.

Key players

Key players operating in the intracranial pressure monitoring devices market are Codman & Shurtleff Incorporated, Sophysa, Gaeltec Devices Limited, Integra Lifesciences Co., Raumedic AG, VITTAMED, and Orsan Medical Technologies. Codman & Shurtleff Incorporated dominates the global market, offering a wide range of invasive and non-invasive intracranial pressure monitoring devices. 

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