Brain Monitoring Devices Market Driven by Technological Advancement

2014-03-10
Published : Mar-2014

With increases prevalence of neurological diseases, the global market for brain monitoring devices is expected to witness steady growth. In 2012, the brain monitoring devices market was valued at 1.08 billion USD. By 2017, the market is expected to reach a value of 1.63 billion USD, growing at a compound annual growth rate of 8.6 percent. There is a wide variety of brain monitoring devices in the market that monitor a range of functions and parameters. The worldwide brain monitoring devices market is dominated by North America followed by Europe. With greater technical advancement and introduction of advanced digitalized devices, the market is predicted to grow in the coming years. Some of the factors that are fueling the growth in the market are higher functionality of devices, miniaturization of devices, lower costs of devices and ease of operation.

The global market for brain monitoring devices can be categorized according to type of product, their application areas and by end-user. On the basis of product type, brain monitoring devices can be segmented as intracranial pressure monitor, electroencephalograph, magnetoencephalography, cerebral oximeter and transcranial Doppler. By end-user, the brain monitoring devices market is categorized as hospitals, home and others which include research institutes, universities and laboratories. Different brain monitoring devices are further categorized according to their application areas. Intracranial pressure monitors are used in areas such as meningitis, traumatic brain injury, and intracerebral hemorrhage. Electroencephalographs are used in areas such as sleep disorder, brain tumor, epilepsy, coma and brain death. Magnetoencephalography are used in application areas such as autistic disorders and brain research studies. Transcranial Doppler is used for detecting and monitoring sickle cell disease, subarachnoid hemorrhage, emboli and intracranial stenosis. Cerbral oximeters are used in application areas such as single lung ventilation, cardiac surgery and shoulder surgery.

Key players in the market are Natus Medical Inc, Advanced Brain Monitoring Inc., Covidien Ltd., Nihon Kohden Corporation, CAS Medical Systems Inc., Integra Lifesciences Holding Corporation, Compumedics Ltd. and Contec Medical Systems Co. Ltd. In recent years, electroencephalograph devices are not just used as a diagnostic tool. Its application has expanded to include monitoring parameters such as stress and fatigue. With rising awareness regarding neurodegenerative diseases among people and the medical community as well as increasing incidences of neurological disorders and sleep disorders the global market for brain monitoring devices is predicted to grow in the future.

Explore the latest market research report on global brain monitoring devices market @ http://www.sandlerresearch.org/worldwide-brain-monitoring-devices-market-by-product-and-application-and-forecasts-to-2017.html

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