Global brain monitoring market is expected to have the CAGR of 8.6% during the forecast period 2016-2023. The brain monitoring devices or instruments are used for monitoring abnormal activities in the human brain. Brain disorders can occur due to vascular abnormalities, infections, tumour and traumatic injuries caused to the brain. These injuries lead to various symptoms such as loss of sensation, paralysis, tremors, muscle weakness, bradykinesia and pain. Brain disorders are excessively costly to treat. To battle these diseases, many devices are currently available in the market which monitor the brain tumours, brain waves, and others abnormal brain activities. Wide range of brain monitoring devices available in the market such as trans cranial doppler, intracranial pressure monitors, magneto encephalography, electroencephalograph, cerebral oximeters help detect any abnormality and aid brain functions such as pressure surrounding the brain, velocity of blood flow in the arteries and veins in case of epilepsy, electrical and neural activity, traumatic brain injury and brain death. Increase in incidence of post-surgical cerebrovascular accidents has increased the need for more improved and automated brain monitoring devices. Brain monitoring devices are also being used extensively in the clinics and hospitals for measuring the activity of anaesthesia and sedatives.
Currently, the global brain monitoring market is experiencing rapid expansion due to high awareness and advancements in surgeries majorly in the developed nations such as UK and US. The key factors that contribute to the growth of global brain monitoring market are the FDA approvals, which significantly increase the scope of global brain monitoring market. Funding from private market players and government has also reinforced the global brain monitoring market. Adoption of brain monitoring devices in the market is driven by the following factors:
- FDA Approvals
- Funding from government and private players
- Rise in neurodegenerative diseases
- Rise in psychiatric diseases and brain disorders
- Rise in adoption of minimally invasive surgeries
- Technological advancement
- Innovation
- Global increase in healthcare expenditure
- Rise in adoption of EEG and other wearable devices for brain
Rising government spending and investments in private players in healthcare budgets and R&D, and increasing prevalence of lifestyle related diseases are the factors enhancing the market growth. Various factors such as high cost of brain monitoring devices available in the market and the expensive surgeries are hindering the growth of global brain monitoring market. Increasing incidences of autoimmune and cardiovascular diseases, neurological disorders, sleep disorders and brain disorders, growing awareness regarding neurodegenerative diseases and technological advancements in brain monitoring devices are major catalysts which enhance the global brain monitoring market. But, the shortage of skilled technicians to handle these complex devices is a factor restraining the growth of the global brain monitoring market.
Source: OBRC Analysis
Global brain monitoring market is segmented into products, applications, end users and regional outlook. By products, the market is divided into:
- Electroencephalograph
- Transcranial Doppler
- Magnetoencephalograph
- Intracranial Pressure Monitor
- Cerebral Oximeter
- Accessories
By end users, the market is divided into:
- Hospitals
- Clinics
- Research Centres
The revenue for the above products and end-user segments are specific to the global brain monitoring market. However, the total revenue of these products and end-users in general has been excluded from the scope of the report. Also, the total market revenue has been calculated by summing up product and end user segment.
Geographically, the global brain monitoring market is segmented into:
- North America (U.S. & Canada)
- Asia Pacific (China, India, Japan, RoAPAC)
- Europe (UK, France, Germany, RoE)
- Rest of World
North American has the largest market share of global brain monitoring market due to the rise in incidences of brain disorders and technological advancements in the North America. Europe is also rising and is expected to show high growth rates in the forecast period in global brain monitoring market. Asia Pacific has the fastest growth rate due to the developing countries such as India and China. Increasing geriatric population, rising prevalence of neurodegenerative disorders, large pool of patients, increasing investments in R&D are the major reasons for the growth of Asia Pacific. Rest of the world shows low market growth, but government initiatives and penetration of market players in this region are expected to enhance its growth.
Based on the product, Electroencephalograph dominates the product segment of global brain monitoring market. .And based on end–user, hospitals dominate the global brain monitoring market.
The major market players of the global brain monitoring market are:
- ELEKTA AB
- MEG INTERNATIONAL SERVICE LTD
- YOKOGAWA ELECTRIC CORPORATION
- SIEMENS
- GE HEALTHCARE
- OTHER
Detailed analysis of these companies provided in this report comprises of overview, SCOT analysis, product portfolio, strategic initiative and strategic analysis.
For Example: In June 2016, GE Healthcare launched next-generation molecular imaging system model NM/CT 670 CZT which helped clinicians easy-to-read reports across multiple care areas and to achieve customizable results
Why to buy the report:
This report will:
- Provide you the business strategies adopted by market players such as product launch as in June 2016, GE Healthcare launched next-generation molecular imaging systems model NM/CT 670 CZT.
- Provide in detail the different segments such as products and end-users which affect the global brain monitoring market.
- Provide you the patent analysis of global brain monitoring market.
- Identify and understand the strengths, opportunities, challenges and threats of global brain monitoring market.
- Provide revenues of major players of the market such as Siemens Healthineers and GE Healthcare.
- Provide you various the regulatory policies which affect the global brain monitoring market.
How we are different from others:
At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global brain monitoring market offers the longest chain of market segmentation covering major market segmentation based on products and end users. The report tracks the major market trends in the global brain monitoring market such as rising stress levels, work-load burden results in high incidence of neurological disorders. For each market segments covered in global brain monitoring market report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the brain monitoring industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360-degree analysis, see saw analysis, and porter five force model and so on. For the high-level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of the global brain monitoring market:
- North America had the largest revenue share in 2016.
- Based on end-user segment, hospital segment dominates the market due to various government initiatives supporting technological advancement in the field of neurosciences and rising incidences of neurodegenerative in this region.
- Product launch is the key strategy adopted by the various market players of global brain monitoring market.
- Hospital is the major segment of end user.
