Absolute Markets Insights (AMI) reports a robust forecast for the brain monitoring market during the 2021-2029 period. In its newly released report, AMI anticipates the market will grow at 6.7% owing to increasing integration of advanced technologies enabling greater accessibility and efficient outcome among patients. AMI reports that the market stood at a valuation of US$ 6226.74 Mn in 2020.
Products and Software to Grow at the Fastest Rate over the Forecast Period (2021-2029)
According to Absolute Market Insights report, brain monitoring devices and accessories will remain the highest share segment during 2021-2029 period in the brain monitoring market. As brain disorders need to be treated within a short span of time, brain monitoring devices such as Magnetic Resonance Imaging (fMRI), magnetoencephalography (MEG) and electroencephalography (EEG) are most commonly used, among which EEG is the most versatile and cost-efficient device. Additionally with the help of brain monitoring wearables and mobile applications, which monitor the brain health and activity, has aided considerably to improve brain activity. There is increase in neurological, sleep disorders neurodegenerative diseases which require timely diagnosis. Thus, the availability of innovative portable and wearable home-based monitoring devices, and increasing patient awareness has led to increased demand for brain monitoring devices, which is accelerating the growth of global brain monitoring market. Moreover companies are investing in technological advancements and software for brain monitoring devices to deliver accurate results and reports, which is estimated to supplement the growth of the market over the forecast period. For Instance, Advanced Brain Monitoring, Inc. offers a software B-Alert Live, which provides real time and offline cognitive data related to brain for better results and treatments.
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Traumatic Brain Injury (TBI) to Retain Highest Share during the Forecast Period (2021 – 2029)
According to AMI, traumatic brain injury (TBI) accounted for the highest share among the other disease indication within the brain monitoring market. The segment is expected to maintain the same trend during the 2021-2029 period. According to a survey, sixty-nine million individuals worldwide are estimated to sustain a TBI each year. Traumatic brain injuries are commonly resulted from road traffic collisions, which have a long term effect on the brain such as concussions and mild memory loss. According to a study, the head injury along with road traffic collision is more common in the countries of Asian and Western Pacific regions. Brain monitoring plays a vital role in traumatic brain injury, as this injury requires immediate treatment to prevent secondary injuries to the brain. In the past several years, enhancements in technology have advanced the monitoring capabilities for patients with TBI, which has supported the segment’s growth in the global brain monitoring market.
Diagnostic Centres and Homecare have the fastest growth in End Users segments for the Forecast Period (2021 – 2029)
According to a study, about 21 million people in the US suffer from some sort of neuropathy, and demand for neurologists is expected to further expand over the future years. The American Academy of Neurology estimates 19% shortfall in neurologists by 2025, with demand exceeding supply by 20% or more in a majority of states. Moreover diseases like MS, Parkinson’s disease (PD), and epilepsy require on-going and specialized care teams with continuous monitoring and timely follow up. In order to address the prevailing challenges, brain monitoring market participants have now introduced remote brain monitoring devices. Moreover, in United States, at state level widely varying legislation since 2017, to expand telehealth coverage for Medicaid programs and in both the individual and groups, have been passed for better accessibility of medical facilities.
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Brain Disorders amongst Adults accounted for the Highest Share in Brain Monitoring Market in 2020.
According to World Health Organization, the world's older adults is estimated to almost double from about 12% to 22% and over 20% of adults aged 60 and over suffer from a mental or neurological disorder not including headache disorders and 6.6% of all disability among people over 60 years is attributed to mental and neurological disorders. Therefore, to cater the brain disorders, companies in the brain monitoring market are investing in advanced and affordable brain monitoring treatments. AMI reports that Asia Pacific region will grow at the fastest rate over the forecast period as population in major countries like China and Japan have a large population of adults.
North America region dominated the Global Brain Monitoring Market in 2020.
North America region held the highest share in the global brain monitoring market in 2020. The region comprises some of the established market participants who also have the prevalent market share in the global market. A substantial investments from companies in the region towards enhancement of products and technologies is another factor contributing towards the region’s growth in the global market. For instance, GE Healthcare has introduced innovative patient-monitoring solutions to integrate proven technologies, and facilities with advanced neurological measurements, data analytics, and connectivity solutions to help in achieving better clinical outcomes. Government institutions and healthcare companies are making huge investments in healthcare infrastructure and facilities to provide affordable and effective medical facilities.
Some of the players operating in the brain monitoring market are Advanced Brain Monitoring, Inc., Compumedics Limited, EMOTIV, GE Healthcare, Koninklijke Philips N.V., Masimo, Medtronic, Natus Medical Incorporated, Neurosoft, Nihon Kohden Corporation and Other Industry Participants.
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Global Brain Monitoring Market:
By Component
- Products
- Devices
- Cerebral Oximetry
- Electroencephalogram (EEG) Systems
- Electromyography (EMG) Systems
- Polysomnographic (PSG) Amplifiers & Recorders
- Brain Monitoring Sensors
- Transcranial Doppler Devices
- Magnetoencephalography (MEG) Systems
- Others
- Devices
- Accessories
-
- Cables & Connectors
- Electrodes
- Batteries
- Application Gel
- Others
-
- Software
- Services
- Training & Education
- Support Services
- Others
By Disease Indication
- Sleep Disorder
- Epilepsy
- Brain Tumor
- Stroke
- Traumatic Brain Injury (TBI)
- Others
By Application
- Invasive Procedure
- Non-Invasive Procedure
By Age Group
- Pediatric
- Adult
By End Users
- Hospitals & Clinics
- Diagnostic Centers
- Ambulatory Surgical Centers
- Research Institutions
- Home Care
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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