2024-2033 Global Intracranial Pressure (ICP) Monitoring Devices Market Outlook: Projected Size and Growth Rate
Save up to 30% on The Business Research Company’s comprehensive market research reports for a limited time only!
Intracranial Pressure (ICP) Monitoring Devices Market Growth Forecast 2024-2033: What’s the Expected Rate?
The market size for intracranial pressure (icp) monitoring devices has seen substantial growth in recent times. The market is projected to swell from $1.57 billion in 2023 to $1.68 billion in 2024, marking a compound annual growth rate (CAGR) of 7.2%. Factors contributing to the growth experienced in the historic period include an uptick in traumatic brain injuries (tbis), an aging population, elevated awareness and diagnosis rates, medical tourism, an increasing geriatric population, as well as improved global healthcare awareness and accessibility.
The market size of intracranial pressure (ICP) monitoring devices is predicted to witness substantial growth in the coming years, reaching a valuation of $2.16 billion in 2028 with a CAGR of 6.4%. This considerable growth trajectory during the forecasted duration can be ascribed to advances in personalized healthcare methodologies, remote telemedicine and monitoring, increasing prevalence of chronic neurological conditions, incorporation with electronic health records (EHR), a global rise in neurosurgery procedures, and emphasis on outpatient monitoring. Key trends expected during this forecast period encompass the implementation of artificial intelligence (AI), real-time monitoring solutions, strategic alliances and partnerships, a shift towards non-invasive monitoring, and home-based ICP tracking.
Claim Your Free Sample of the Global Intracranial Pressure (ICP) Monitoring Devices Market Report Today!
https://www.thebusinessresearchcompany.com/sample.aspx?id=11977&type=smp
What Factors Are Impacting the Growth of the intracranial pressure (icp) monitoring devices Market?
The anticipated rise in instances of traumatic brain injury (TBI) is believed to push forward the growth of the intracranial pressure (ICP) monitoring devices market. TBI is an injury to the brain that occurs as a result of external forces or trauma. The increasing incidence of TBI is predominantly due to more frequent motor vehicle accidents, sports injuries, and physical assaults. In these situations, ICP monitoring devices are essential as they supply real-time data about the pressure within the skull, which aids in treating TBI. For example, in March 2021, the Brain Injury Association of America (BIAA) estimated that 2.8 million US residents experience TBI annually, with roughly 280,000 requiring hospital care. Furthermore, in the U.S. a brain injury occurs approximately every nine seconds, resulting in over 3.5 million injuries per year. Of these injuries, roughly 50,000 are fatal, resulting in about 155 TBI-related deaths per day. Therefore, the increasing prevalence of TBI will boost the growth of the intracranial pressure (ICP) monitoring devices market.
What Are the Fundamental Segments in the Intracranial Pressure (ICP) Monitoring Devices Market?
1) By Technique: Invasive, Non-Invasive
2) By Application: Traumatic Brain Injury, Intracerebral Hemorrhage, Meningitis, Subarachnoid Hemorrhage, Cerebrospinal Fluid (CSF) Management, Migraine, Stroke, Hydrocephalus, Electroencephalogram (EEG), Other Applications
3) By End User: Hospitals, Ambulatory Care And Clinics, Other End-users
What Trends Are Shaping the New Direction of the Intracranial Pressure (ICP) Monitoring Devices Market?
One emerging trend that has been observed in the intracranial pressure (ICP) monitoring devices market is the strategic alliance between major companies. These market giants are engaging in various collaborations to fortify their market positions. For example, in November 2022, IRRAS, a medical technology company from Sweden, formalized a partnership with Medtronic, an American company known for its role in the ICP monitoring devices market. This move grants Medtronic the exclusive authority to market the IRRAflow system in certain U.S regions. Similarly, in the same month, EMOTIV, an American enterprise specializing in electroencephalography (EEG), teamed up with X-trodes, an Israeli biotechnology firm known for its wireless monitoring solutions of medical-grade. The primary goal of this collaboration is to introduce a new medical-grade, at-home solution dedicated to research in brain monitoring.
Order Now for Fast Delivery of Your Intracranial Pressure (ICP) Monitoring Devices Market Report!
Which Regions Are Making a Mark in the Intracranial Pressure (ICP) Monitoring Devices Market Growth?
North America was the largest region in the intracranial pressure (ICP) monitoring devices market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intracranial pressure (icp) monitoring devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Intracranial Pressure (ICP) Monitoring Devices Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the intracranial pressure (icp) monitoring devices market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Intracranial Pressure (ICP) Monitoring Devices Market Include
1. Intracranial Pressure (ICP) Monitoring Devices Market Executive Summary
2. Intracranial Pressure (ICP) Monitoring Devices Market Segments
3. Intracranial Pressure (ICP) Monitoring Devices Market Size And Template Market Growth Rate
4. Key Intracranial Pressure (ICP) Monitoring Devices Market Trends
5. Major Intracranial Pressure (ICP) Monitoring Devices Market Drivers
……
25. Key Mergers And Acquisitions In The Intracranial Pressure (ICP) Monitoring Devices Market
26. Top Intracranial Pressure (ICP) Monitoring Devices Companies
27. Intracranial Pressure (ICP) Monitoring Devices Market Opportunities And Strategies
28. Intracranial Pressure (ICP) Monitoring Devices Market, Conclusions And Recommendations
29. Appendix
Learn More About The Business Research Company
The Business Research Company has published over 15000+ reports in 27 industries, spanning 60+ geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on:
