Brain Monitoring Market to reach $1.63 Billion - 2017 at a 8.06% CAGR - New Report by MarketsandMarkets
(PRWEB) August 10, 2013 -- The "Brain Monitoring Market by Product [EEG/Magnetoencephalography (MEG)/Intracranial Pressure Monitor/Cerebral Oximeter/Transcranial Doppler] & Application [Sleep Disorders/Epilepsy/Traumatic Brain Injury/Brain Death] - Global Forecasts to 2017" analyzes and studies the major market drivers, restraints, and opportunities in North America, Europe, Asia and Rest of the World (RoW).
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This report studies the global brain monitoring devices market, with forecast to 2017.
Brain monitoring devices measure the activities of small waves produced by the brain. Multimodal monitoring of brain function is a growing area in the preoperative setting. Adverse cerebral outcome is a persistent problem in patients undergoing a variety of surgical procedures, which makes brain monitoring an important aspect for such clinical events. The global brain monitoring devices market was valued at $1.08 billion in 2012, and is poised to grow at a CAGR of 8.6% to reach $1.63 billion by 2017.
The global brain monitoring devices market is broadly segmented into three categories based on its product, application, and end-user. It is witnessing various technological advancements leading to high functionality, lower costs, ease of operation, and miniaturization of devices fuelling the growth of this market. In the past, brain monitoring was not given much importance during routine checkups, preoperative and post-operative periods, and in critical care settings. However, this scenario is changing, with brain monitoring now being widely practiced to assess the depths of anesthesia and sedation. It is being used in a variety of clinical settings, which include operating rooms, intensive care units, and ambulatory units, which, in turn, will fuel demand for brain monitoring devices such as EEG, ICP, and cerebral oximeters in the coming years.
North America dominated the global brain monitoring devices market, followed by Europe, Asia, and Rest of the World (RoW) in 2012. North America will continue to lead in the years to come, owing to technological advancements and introduction of advanced digitalized devices. European countries are expected to grow steadily, while the Asian region’s contribution to the global brain monitoring devices market is expected to pick pace in the next few years due to increasing awareness of neurological disorders, and development in Asian healthcare infrastructure, which has resulted in an influx of well-established players to the region.
Rising incidences of neurological disorders, autoimmune and cardiovascular diseases, brain disorders, and sleep disorders, rising awareness regarding neurodegenerative diseases and technological advancements in brain monitoring devices are major drivers slated to propel this market. However, the shortage of skilled technicians to handle these complex devices is a factor limiting the growth of this market.
The prominent players operating in this market include Covidien, PLC (Ireland), Compumedics, Ltd.(Australia), Natus Medical, Inc. (U.S.), Nihon Kohden Corporation (Japan), Integra Life Sciences Corporation (U.S.), CAS Medical Systems (U.S.), and Advanced Brain Monitoring, Inc. (U.S.), among others.
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