NEW YORK, Jan. 16, 2017 /PRNewswire/ -- The global intracranial pressure monitoring devices market is expected to reach USD 1.9 billion 2025, according to a new report by Grand View Research, Inc. Increasing neurological disorders and growing awareness regarding various treatment options available is spurring the growth of these devices on a global level. In addition, constant rise in patient numbers suffering from severe brain diseases that lead to high intracranial pressure is expected drive the growth of the market during the forecast period.
Mainly, high disease prevalence and increased research funding together are expected to positively affect the growth of the ICP monitoring devices market. However, high cost of the devices and lack of skilled professionals in the developing regions are some of the prime factors hindering growth of the market.
Further Key Findings from the Study Suggest:
The market study suggests that invasive technique dominated the overall market in 2015 due to accurate and continuous measurements of intracranial pressure with intermittent drainage (hourly), unless clinically indicated
Among the invasive techniques, External Ventricular Drainage (EVD) occupied the largest share as it is considered as the gold standard for monitoring of intracranial pressure.
EVD also enables drainage of cerebrospinal fluid and administration of medicine intrathecally, which is positively impacting the growth of this segment
North America dominated the vertical with the largest revenue share in 2015. Presence of a large target population suffering from traumatic brain injury and high adoption rate of advanced treatment options are some of the factors driving the growth of the intracranial pressure monitoring devices in North America.
Asia Pacific is anticipated to show significant growth during the forecast period. Growth of the region is primarily attributable to increasing government initiatives, growing awareness regarding neurological disorders, and the availability of diagnostic procedures for their treatment.
Some of the top companies operating in this market are Medtronic plc; Codman & Shurtleff, Inc.; RAUMEDIC AG; Vittamed; Sophysa Ltd.; Orsan Medical Technologies; Integra LifeSciences Holdings Corporation; and Spiegelberg GmbH & Co. KG.
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