Brain Monitoring Market is Expected to Reach $4.8 Billion | MarketsandMarkets™
Chicago, Feb. 06, 2024 (GLOBE NEWSWIRE) -- *Brain Monitoring market* in terms of revenue was estimated to be worth $3.5 billion in 2023 and is poised to reach $4.8 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028 according to a latest report published by MarketsandMarkets™. The brain monitoring market is mainly driven by factors such as the rising awareness of neurodegenerative diseases, increasing brain monitoring applications in clinical trials, and growth in traumatic brain injuries. Rising interest in non-invasive and minimally invasive devices and the broadening therapeutic uses of brain monitoring tools are anticipated to present growth prospects for market participants. Additionally, the burgeoning healthcare market in emerging economies is poised to offer further opportunities for expansion within the industry.
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*Brain Monitoring** Market** Scope:*
*Report Coverage* *Details*
Market Revenue in 2023 $3.5 billion
Estimated Value by 2028 $4.8 billion
Growth Rate Poised to grow at a CAGR of 6.3%
Market Size Available for 2021–2028
Forecast Period 2023–2028
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Product, Procedure, Modality, Medical Condition, End User, and Region
Geographies Covered North America, Europe, APAC, Latin America, and Middle East Africa
Report Highlights Updated financial information / product portfolio of players
Key Market Opportunity The increasing demand for non-invasive and minimally invasive devices
Key Market Driver Increasing incidence and prevalence of neurological disorders
The global brain monitoring market is categorized into devices and accessories by product. The devices segment accounted for the largest share of brain monitoring market. This is mainly due to factors such as technological advancements in brain monitoring devices, increasing awareness of healthcare professionals about the benefits associated with brain monitoring devices, and growing application of imaging modalities for neuroimaging.
The brain monitoring devices market is further segmented into magnetic resonance imaging (MRI) scanners, fNIRS (functional near-infrared spectroscopy), (sleep monitoring devices, cerebral oximeters, electromyography (EMG) devices, intracranial pressure (ICP) monitors, magnetoencephalography (MEG) devices, computed tomography (CT) scanners, electroencephalograph (EEG) devices, positron-emission tomography (PET) scanners, and Transcranial Doppler (TCD) devices. The MRI scanners segment held the largest share of the brain monitoring market in 2022. MRI is a high-quality and sensitive brain imaging test, highly integrated into regular clinical procedures. It delivers exceptional imaging quality and sharp contrasts between healthy and diseased tissues. Additionally, MRI finds extensive use in diagnosing and determining the progression of conditions such as cancer. The advantages it holds over alternative technologies and its expanding role in diagnosing neurological disorders have been pivotal in propelling the growth of the MRI scanners segment.
The global brain monitoring market is categorized into fixed, portable, and wearables based on the modality. The fixed devices segment held the largest share of the brain monitoring market in 2022. Fixed devices, particularly electroencephalography (EEG) equipment, remain the gold standard for diagnostic assessments like epilepsy, brain tumors, and sleep disorders. These devices offer the highest data quality and signal resolution, which is crucial for accurate diagnosis and treatment planning.
Based on end user, the global brain monitoring market is categorized into hospitals, neurological centers, diagnostic centers, ASCs and clinics, and others. The hospitals segment held the largest share of the brain monitoring market in 2022. This can be attributed to the rise in the usage of brain monitoring devices in hospitals and the rise in awareness of brain diseases.
Based on the region, the global brain monitoring market is divided into North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share of the global brain monitoring market in 2022, while the Asia Pacific is projected to be the fastest-growing region in the forecast period. The substantial market growth in the Asia Pacific region stems from several factors, including affordable labor and a skilled workforce, a rise in disposable incomes, an increasing incidence of neurodegenerative disorders, and a growing governmental focus on healthcare reforms within the region.
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*Brain Monitoring market major players covered in the report, such as:*
· Masimo Corporation (US)
· Unilabs Holdings AB(Sweden)
· Siemens Healthineers (Germany)
· Cadwell Industries (US)
· NeuroWave Systems, Inc. (US)
· Nonin Medical, Inc. (US)
· Integra LifeSciences Corporation (US)
· Compumedics, Ltd. (Australia)
· Medtronic (Ireland)
· Luciole Medical AG (Switzerland)
· Drägerwerk AG & Co. KGaA (Germany)
· Natus Medical, Inc. (US)
· Nihon Kohden Corporation (Japan)
· Philips Healthcare (Netherlands)
· GE Healthcare (US)
· Advanced Brain Monitoring (US)
· Neurosoft (Russia)
· and Among Others
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*The study categorizes the Brain Monitoring market to forecast revenue and analyze trends in each of the following submarkets:*
· By Product
· Devices
· By Type
· Magnetic Resonance Imaging (MRI) Scanners
· Computerized Tomography (CT) Scanners
· Electroencephalograph (EEG) Devices
· Positron Emission Tomography (PET) Scanners
· Sleep Monitoring Devices
· Cerebral Oximeters
· Electromyography (EMG) Devices
· Intracranial Pressure (ICP) Monitors
· Magnetoencephalography (MEG) Devices
· Transcranial Doppler (TCD) Devices
· Accessories
· By Type
· Electrodes
· Wet Electrodes
· Dry Electrodes
· Needle Electrodes
· Sensors
· Pastes & Gels
· Caps
· Cables
· Batteries
· Other Accessories
· By Usability
· Disposable
· Reusable
*By Procedure*
· Devices for Invasive Procedures
· Devices for Non-invasive Procedures
*By Modality*
· Fixed
· Portable
· Wearable
*By Medical Condition*
· Traumatic Brain Injury (TBI)
· Stroke
· Dementia
· Headache Disorders
· Sleep Disorders
· Parkinson’s Disease
· Epilepsy
· Huntington's Disease
· Other Medical Conditions
*By End User*
· Hospitals
· Neurology Centers
· Ambulatory Surgery Centers (ASCs) & Clinics
· Diagnostic Centers
· Other End Users
*By Region*
· North America
· US
· Canada
· Europe
· Germany
· UK
· France
· Italy
· Spain
· Rest of Europe
· Asia Pacific
· China
· Japan
· India
· Rest of Asia Pacific
· Latin America
· Brazil
· Mexico
· Rest of Latin America
· Middle East & Africa
· GCC Countries
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*Key Market Stakeholders:*
· World Health Organization (WHO)
· National Center for Biotechnology Information (NCBI)
· World Federation of Neurology (WFN)
· Centers for Disease Control and Prevention (CDC)
· Epilepsy Foundation
· American Brain Foundation (ABF)
· Brain Injury Association of America (BIAA)
· Neurology Asia Journal
· Alzheimer's Association
· American Neurological Association (ANA)
· European Journal of Neurology
*Report Objectives:*
· To define, describe, and forecast the brain monitoring market based on the product, procedure, modality, medical condition, end user, and region.
· To provide detailed information regarding the major factors influencing the growth of the market (such as drivers, restraints, opportunities, and challenges).
· To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall brain monitoring market.
· To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
· To profile the key players in the market and comprehensively analyze their market shares and core competencies.
· To forecast the size of the market segments with respect to four main regions, namely, North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
· To track and analyze competitive developments such as new product launches, agreements, collaborations, and expansions.
*Related Reports:*
*MRI Systems Market*
*Neurovascular Devices Market*
*Patient Monitoring Devices Market*
*Diagnostic Imaging Market*
*Neuromodulation Market*
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*Content Source: **https://www.marketsandmarkets.com/PressReleases/brain-monitoring-devices.asp*
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