Intracranial Pressure Monitors Market to Reach US$ 1.63 Billion by the End of 2023

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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Growing Prevalence of High Blood Pressure will Boost Intracranial Pressure Monitors Market

As the global intracranial pressure monitors market undergoes a paradigm shift from invasive to non-invasive devices, manufacturers are facing intense competition, prompting them to focus on technological advancements. Leading players such as Integra LifeSciences Corp., Medtronic Inc., and Codman & Shurtleff Inc. are aggressively integrating advanced technologies in their products. In line with this trend, companies are now racing to introduce next-generation products in the market.

This 74 page report gives readers a comprehensive overview of the Intracranial Pressure Monitors Market. Browse through 6 data tables and 26 figures to unlock the hidden opportunities in this market: http://www.transparencymarketresearch.com/intracranial-pressure-monitors-market.html

Looking forward, untapped markets in emerging economies are likely to offer lucrative opportunities to participants. Entering into strategic partnerships with local players will help major companies to seize better shares in the market.

Intracranial Pressure Monitors Gain Impetus from Rising Incidence of Traumatic Injuries

“The frenzied lifestyle of people across the world has increased the frequency of traumatic injuries and augmented the prevalence of strokes, thereby escalating the demand for intracranial pressure monitors,” says an analyst at TMR. Cranial injuries and head trauma are mostly caused by road and industrial accidents, which lead to death or permanent disability for hundreds of individuals every year. Elevated intracranial pressure causes around 2 casualties in every 10 cases of head injuries across the world. The increasing reports of brain injuries in adults as well as pediatric patients have also fueled the demand for intracranial pressure monitoring significantly.

Strokes are another prominent factor that has escalated the application of these pressure monitors. Large hemispheric strokes increase the cerebral perfusion pressure and enhance the mean flow velocity of the middle cerebral arteries in the patient, raising the intracranial pressure. The growing prevalence of high blood pressure among people across the world has augmented the frequency of strokes, thereby boosting the demand for intracranial pressure monitors substantially.

Hitherto, the risk associated with the invasive nature of intracranial pressure monitors, such as bacterial infections, hampered their adoption across the world. The reports about cerebrospinal fluid infection, which sometimes leads to fatal consequences, have limited the application of intracranial pressure monitors significantly.

Despite North America’s Claim on Leadership, Asia Pacific to Emerge Prominently

Despite of being hindered by these factors, the global market for intracranial pressure monitors has a bright future ahead of it. TMR expects this market to expand at a CAGR of 6.30% during the period from 2015 to 2023, with market opportunity swelling from US$0.94 bn in 2014 to US$1.63 bn by the end of the forecast period.

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Currently, North America holds the largest share in this market and will continue to lead over the next few years. However, the future of this market lies in Asia Pacific. The rapid increase in geriatric population, rising prevalence of cerebrovascular disorders, and escalating healthcare expenditure in this region together are likely to offer rewarding opportunities to participants in the coming years.

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90 State Street, Suite 700
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