Intracranial pressure monitoring market

Growing prevalence of neurological dysfunctions to propel market growth

Technologically advanced ICP monitoring devices reduce the drawbacks of earlier invasive devices, including a spontaneous shift in baseline pressure and leveling and de-bubbling related to fluid-filled systems. For instance, medical robotics has witnessed a paradigm shift over the years owing to technological advancements in 3D imaging. Recent innovations include high-definition microscope cameras, data recorders, analytic data systems, motion sensors, remote navigation systems, and robotic-controlled catheters and transducers. Technological advancements aim to find new applications for existing platforms and create disruptive technologies that drive the market for intracranial pressure (ICP) monitoring devices.

The invasive intracranial pressure monitor segment will rule the market CAGR.

In addition, with the growing burden of neurodegenerative diseases such as dementia, Alzheimer's, Parkinson's, and others, along with the growing geriatric population who are more prone to head injuries and neurodegenerative diseases, the demand for intracranial pressure (ICP) monitoring is expected to increase which is anticipated to boost growth in the market for intracranial pressure (ICP) monitoring. For instance, according to the September 2021 report of the World Health Organization, about 55 million people worldwide are living with dementia, and nearly 10 million cases are reported yearly.

 Alzheimer's is the most typical form of dementia and constitutes around 60-70% of the total cases of dementia. According to the October 2021 update of the World Health Organization, the population of people of age 60 years and more is expected to increase from 1 billion in 2020 to 2.1 billion by 2050. These factors are collectively expected to significantly impact the studied market and propel the market growth of the intracranial pressure monitoring revenue globally.

The rise in global healthcare expenditure is another crucial factor driving the Global Intracranial Pressure Monitoring Market Industry. Governments and private sectors are investing more in healthcare infrastructure, particularly in developing regions. This increase in funding facilitates the acquisition of advanced medical technologies, including intracranial pressure monitoring systems. According to the World Bank, global health spending is projected to continue its upward trajectory, which could enhance access to these critical monitoring devices. By 2035, the market is anticipated to reach 3.51 USD Billion, underscoring the impact of increased healthcare investments on market growth.

Regulatory support and the establishment of guidelines for intracranial pressure monitoring are pivotal in shaping the Global Intracranial Pressure Monitoring Market Industry. Regulatory bodies are increasingly recognizing the need for standardized practices in monitoring intracranial pressure, which enhances the credibility of these devices. For instance, the establishment of guidelines by organizations such as the American Association of Neurological Surgeons promotes best practices in patient management. This regulatory framework not only encourages manufacturers to innovate but also instills confidence among healthcare providers in utilizing these technologies. As a result, the market is likely to experience sustained growth.

The growing awareness of the importance of intracranial pressure monitoring among healthcare professionals is fostering growth in the Global Intracranial Pressure Monitoring Market Industry. Educational initiatives and training programs are being implemented to enhance the understanding of intracranial pressure management. These programs aim to equip healthcare providers with the necessary skills to utilize monitoring devices effectively. As awareness increases, the adoption of these technologies is likely to rise, leading to improved patient care. This trend indicates a positive outlook for the market, as more professionals recognize the critical role of monitoring in managing neurological conditions.

The increasing prevalence of neurological disorders such as traumatic brain injuries and strokes is a primary driver for the Global Intracranial Pressure Monitoring Market Industry. As the global population ages, the incidence of these conditions is likely to rise, necessitating effective monitoring solutions. For instance, the World Health Organization reports that stroke is a leading cause of disability worldwide. This trend suggests a growing demand for intracranial pressure monitoring devices, which are essential for managing these conditions. The market is projected to reach 1.6 USD Billion in 2024, reflecting the urgent need for advanced monitoring technologies.

Technological innovations in intracranial pressure monitoring devices are significantly influencing the Global Intracranial Pressure Monitoring Market Industry. Newer devices are becoming increasingly accurate, minimally invasive, and user-friendly, which enhances their adoption in clinical settings. For example, the development of wireless monitoring systems allows for continuous patient monitoring without the need for invasive procedures. These advancements not only improve patient outcomes but also streamline clinical workflows. As a result, the market is expected to grow at a compound annual growth rate of 7.39% from 2025 to 2035, indicating a robust future for these technologies.

By region, the study delivers market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America intracranial pressure monitoring market accounted for USD 1.145 billion in 2022, with a share of around 45.80% and is expected to exhibit a significant CAGR growth during the study period. This is anticipated due to the increasing availability of technologically advanced devices, growing demand for minimally invasive surgeries, and rising adoption of non-invasive ICP monitoring procedures.

The market for intracranial pressure (ICP) monitoring devices is also expected to be driven by an increasing number of trauma cases and the rising incidence of migraine, stroke, and other neurological disorders.

Further, the major countries studied in the market report are: The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: INTRACRANIAL PRESSURE MONITORING MARKET SHARE BY REGION 2023 (%)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

Europe intracranial pressure monitoring market accounts for the second-largest market share. The technological advancement in the devices used in intracranial pressure (ICP) monitoring intracranial pressure is expected to boost the market growth in this region. Moreover, UK market of intracranial pressure monitoring held the largest market share, and the Germany market of intracranial pressure monitoring was the fastest-growing market in the region.

The Asia Pacific intracranial pressure (ICP) monitoring market is expected to grow at the fastest CAGR from 2024 - 2032. The increasing incidence of sports injuries and trauma primarily drives the market. Emerging economies, such as China, Japan, South Korea, and India, are expected to witness considerable market growth over the forecast period. Further, the China market of intracranial pressure monitoring held the largest market share, and the India market of intracranial pressure monitoring was the fastest-growing market in the region.

Key market players are spending a lot of money on R&D to enhance their product lines, which will assist the market of intracranial pressure monitoring to grow even more. Market participants are also taking several strategic initiatives to grow their worldwide footprint, with major market developments including new product launches, mergers and acquisitions, contractual agreements, increased investments, and collaboration with other organizations. Competitors in the intracranial pressure (ICP) monitoring industry must offer cost-effective items to enhance and survive in an increasingly competitive and growing market environment.

One of the major business strategies adopted by manufacturers in the intracranial pressure (ICP) monitoring industry to benefit clients and enhance the market sector is to manufacture locally to decrease operating costs. The intracranial pressure (ICP) monitoring major market players such as Compumedics Limited (Australia), Natus Medical Incorporated (US), and others are working on enhancing the market demand by investing in R&D activities.

DePuy Synthes is a franchise of orthopedic and neurosurgery enterprises. Acquired by Johnson & Johnson in 1998, its firms form part of the Johnson & Johnson Medical Devices group. DePuy generates and markets products under the DePuy Mitek, Codman, DePuy Orthopaedics and DePuy Spine brands. In February 2021, DePuy Synthes collaborated with Expanding Innovations Inc. to distribute the X-Pac Expandable Lumbar Cage System in the U.S. It helped the company expand its presence there.

NovaSignal is a medical technology company commercializing a robotic cerebral ultrasound system. NovaSignal was founded in 2013 with the sole mission of providing greater access to critical data needed by physicians to improve the lives of their patients. In February 2021, Novasignal Corporation released a cloud-based app to provide alarms to clinicians directly from its cerebral ultrasound gadget. The new app enables clinicians to receive immediate notifications from the Novaguide device, a transcranial Doppler ultrasound technology that combines robotics and artificial intelligence to provide real-time intracranial pressure (ICP) monitoring of blood flow in the brain (AI).