As per TMR, the global market opportunity for intracranial pressure
monitors will be worth US$1.63 bn by 2023. On the basis of geography,
North America is currently the leading regional market and shall
continue to do so in the years to come. Asia Pacific will emerge as a
key market for intracranial pressure monitors on account of the
increasing geriatric population. Increase in the healthcare
expenditure and rising incidences of cerebrovascular disorders will
also aid the growth of the market in Asia Pacific, making it one of
the most attractive markets for intracranial pressure monitors.
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The global intracranial pressure monitors market is driven by growing
frequency of traumatic injuries on account of frenzied lifestyle of
the people worldwide. This has also resulted in the high occurrence
of strokes, thereby fueling the demand for intracranial pressure
monitors. A growing number of people suffer from high blood pressure,
which is responsible for increasing the rate of strokes and driving
the demand for intracranial pressure monitors.
Cranial injuries are occurring frequently and so are head traumas on
account of industrial accidents and road accidents. A TMR analyst has
identified the untapped markets in developing nations to offer
attractive growth opportunities in the near future. On the other
hand, the reports about cerebrospinal fluid infection, which could
even lead to fatal results will limit the application of intracranial
pressure monitors, posing a challenge for the growth of the market.
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By application, the traumatic brain injury segment led in the past
and is anticipated to expand at a CAGR of 7.70% during the forecast
period from 2015 to 2023. Driven by increasing violence and growing
number of road accidents, this segment will witness high growth. An
increasing incidence of industrial accidents and head injuries on
account of recreational activities and sports will also help the
growth of the traumatic brain injury market segment.
The global intracranial pressure monitors market is witnessing a
shift from invasive devices to non-invasive ones, as patients demands
have changed, states Transparency Market Research (TMR) in its latest
report. Manufacturers within this industry are facing intense
competition and this is forcing them to stay up dated and provide
their customers with the latest devices. Thus, much focus is given to
research and development and technological advancements.
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Some of the leading players in the intracranial pressure monitors
market are: Medtronic Inc., Integra LifeSciences Corp., and Codman &
Shurtleff Inc. These players are aggressively integrating advanced
technologies in their products and striving to introduce
next-generation devices in the market. The lead author of this report
further adds that entering into strategic partnerships with local
players will help market players gain more shares in the market.
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