Intracranial Pressure (ICP) Monitoring Market 2022-2031
The Intracranial Pressure (ICP) Monitoring Market is likely to grow at an impertinent level shortly. Chabot’s powered by machine learning is the transformation of the way interaction amongst patients happens. Machine learning is there to help radiologists to identify differences in the scans. This, in turn, helps them in diagnosing and detecting health issues, that too, at an early stage. This is the ongoing trend in the healthcare vertical and the status quo is expected to remain unchanged even going forward.
In a recent study done by Persistence Market Research, the global intracranial pressure (ICP) monitoring market recorded a market value of US$ 210.4 Mn in 2020. The market is further expected to expand at a CAGR of 4.9% over the forecast period of 2022-2031.
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Intracranial pressure monitoring devices are used for the monitoring of increased level of intracranial pressure or the pressure of cerebrospinal fluid. Such devices are widely used in case of certain diseases such as subarachnoid hemorrhage, hydrocephalus, and malignant cerebral infarction (MCI) for providing proper treatment based on the testing.
There has been various technological advancements in recent times such as development of wireless ICP monitoring devices. Furthermore, innovation and approval for home-based ICP monitoring devices for patients suffering from hydrocephalus has been rising.
- For instance, the Raumed Home ICP device manufactured by Raumedic in 2019, also adds to the convenience of use of these products from the comfort of homes. The device allows the storing of certain activities on the handheld device, such as eating, sleeping, nausea, etc., with just the touch of a button. This provides better insights for therapy by neurosurgeons, which results in better treatment.
Key Players:
The report has profiled some of the important players prevalent in the global like – Integra Lifesciences Corporation, Medtronic Plc., J&J, Sophysa Ltd., Spiegelberg GmbH & Co, Hood Medical Incorporated, RAUMEDIC Inc, Digitimer Ltd, IRRAS AB, Nisonic, and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Intracranial Pressure (ICP) Monitoring Market.
Key Takeaways from Market Study
- Intracranial pressure monitoring devices used for measuring elevated intracranial pressure in the brain held more than 85% market share in 2020.
- Intraventricular route of intervention held approximately 50% of the global market share in 2020.
- Traumatic brain injury (TBI) is the most commonly seen indication for which ICP monitoring devices are used. TBI held a market share of around 37% in 2020.
- Hospitals are preferred more by patients as they use a variety of techniques to monitor ICP- clinical examination, do brain imaging, and use ICP monitors, with overall easy reimbursement procedures. Hospitals accounted for nearly one-fourth of the global market share in 2020.
- In 2020, North America dominated the ICP monitoring devices market, accounting for more than 55% of global market share.
“Increased cases of neurological diseases and advancements in diagnostics will propel demand for ICP monitoring devices over the coming years,” says an analyst of Persistence Market Research.
Market Competition
Key manufacturers of ICP)monitoring devices are focusing on strategic partnerships with institutes and hospitals for the marketing of their products, getting approvals from various regulatory authorities globally, and expanding their portfolios for gaining market position.
- In October 2021, IRRAS collaborated with Aarhus University Hospital in Aarhus, Denmark, one of the world's leading medical institutions. This collaboration helped in the business of IRRAflow.
- Again, in December 2021, the company collaborated with the Lovell Government Services to sell IRRAflow and Hummingbird ICP product lines to Veterans Affairs (VA) hospitals and other U.S. government and military medical facilities.
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Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Intracranial Pressure (ICP) Monitoring Market Manufacturers
Intracranial Pressure (ICP) Monitoring Market Distributors/Traders/Wholesalers
Intracranial Pressure (ICP) Monitoring Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
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Intracranial Pressure (ICP) Monitoring Market - Report Highlights
- A detailed overview of parent market of Intracranial Pressure (ICP) Monitoring Market
- Changing Intracranial Pressure (ICP) Monitoring Market dynamics in the industry
- In-depth segmentation of the Intracranial Pressure (ICP) Monitoring Market
- Historical, current, and projected Intracranial Pressure (ICP) Monitoring Market size regarding volume and value
- Recent industry trends and developments in Intracranial Pressure (ICP) Monitoring Market
- Competitive landscape of the Intracranial Pressure (ICP) Monitoring Market
- Strategies for key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on Intracranial Pressure (ICP) Monitoring Market performance
- Must-have information for Intracranial Pressure (ICP) Monitoring Market players to sustain and enhance their market footprint
Key Questions Answered in the Intracranial Pressure (ICP) Monitoring Market Report
How is the Intracranial Pressure (ICP) Monitoring Market expected to grow over the projected period?
What direction is the Intracranial Pressure (ICP) Monitoring Market expected to take in terms of volume and value during the forecast period?
What is the impact of macroeconomic factors on the Intracranial Pressure (ICP) Monitoring Market in future?
What are the key market drivers in the Intracranial Pressure (ICP) Monitoring Market?
What are significant opportunities and improvement areas for Intracranial Pressure (ICP) Monitoring Market manufacturers?
What are the key developments and trends taking over the Intracranial Pressure (ICP) Monitoring Market?
Which are the emerging countries that are expected to create significant growth opportunities in the Intracranial Pressure (ICP) Monitoring Market?
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