Brain Monitoring Market Analysis and Forecast to 2031: By Product Type (Electroencephalography Devices, Magnetencephalography Devices, Transcranial Doppler Devices, Intracranial Pressure Monitor, Cerebral Oximeters, Magnetic Resonance Imaging Devices, Com

Brain Monitoring Market Analysis and Forecast to 2031: By Product Type (Electroencephalography Devices, Magnetencephalography Devices, Transcranial Doppler Devices, Intracranial Pressure Monitor, Cerebral Oximeters, Magnetic Resonance Imaging Devices, Computerized Tomography Devices, Positron Emission Tomography Devices, Sleep Monitoring Devices, Electromyography Devices, Accessories), Procedure (Invasive, Non-invasive), Application (Epilepsy, Dementia, Parkinson’s Disease, Huntington’s Disease, Headache Disorders, Stroke, Traumatic Brain Injuries, Sleep Disorders, Other Diseases), and Region

The global brain monitoring market size was USD 5.4 billion in 2021 and it is anticipated to reach USD 10.1 billion in 2031, growing at a rate of 7.2% from 2022-2031.

Brain monitoring helps clinicians in monitoring the condition of the brain under the influence of anesthesia through bilateral data acquisition and processing of the EEG signals. Brain monitoring devices are used to monitor and diagnose neurological conditions by exploring the structure and function of the brain. This process involves the use of several brain monitoring devices. At present, there is an increase in the demand for electroencephalography devices among healthcare providers.

Brain Monitoring Market Scope and Structure Analysis

Market Trends and Drivers

The major factor boosting the growth of the market is the increasing incidence and prevalence of neurological disorders. The global incidence and prevalence of neurological disorders, like dementia, epilepsy, Parkinson’s disease, Huntington’s disease, headache disorders, multiple sclerosis, neuro infections, stroke, and cerebral palsy, have increased significantly during the last few years. Brain disorders, which comprise a combination of developmental, psychiatric, and neurodegenerative diseases, are a growing cause of morbidity worldwide. This can mainly be attributed to the growing geriatric population (by 2050, more than 20% of the global population is expected to be aged over 65 years). The American Medical Association (AMA) anticipates that at least 60% of individuals aged 65 years and above will be living with more than one chronic condition by 2030.

The rising incidences of these neurological disorders have made it extremely important to monitor brain and neurological function. Many neurological disorders and conditions are progressive, and their risk increases with age. Adding to that, the prevalence of other diseases and conditions, such as sickle-cell diseases and cardiac disorders, is also increasing. Cardiac procedures may sometimes affect the normal functioning of the brain, which is another factor driving the demand for brain monitoring devices.

Market Restraints & Challenges

One of the primary challenges in the growth of the global brain monitoring market is the high cost of complex brain monitoring procedures and devices. The high cost of brain monitoring surgeries and devices is a primary factor restraining the global brain monitoring market, majorly in developing countries with poor reimbursement policies. Brain monitoring devices are highly complex, and the procedures involving the use of these devices are generally expensive. For example, the average cost of a standard EEG is ~USD 200–700; this procedure can cost as high as USD 3,000 for extended monitoring. A dual-channel TCD costs approximately USD 3,000–3,200, and an ICP monitor costs approximately USD 340–500. Similarly, a single MEG system costs roughly USD 2.5–3 million. Owing to the high price, healthcare facilities, even in countries that show wide adoption of high-tech medical equipment, find it difficult to procure MEG devices. Moreover, the maintenance cost and other associated indirect expenses increase the total cost of ownership of these devices, so limiting their adoption.

Global Brain Monitoring Market Segmentation

The report analyses the brain monitoring market based on product type, procedure, application, and region.

Global Brain Monitoring Market by Product Type

On the basis of product type, it is segmented into electroencephalography devices, magnetoencephalography devices, transcranial doppler devices, intracranial pressure monitors, cerebral oximeters, magnetic resonance imaging devices, computerized tomography devices, sleep monitoring devices, electromyography devices, and accessories. The electroencephalography devices segment is likely to dominate the market during the forecast period. The surge in demand for the diagnosis of critical disorders such as epilepsy has further influenced companies to focus on the development of brain monitoring EEG devices.

Global Brain Monitoring Market by Procedure

On the basis of procedure, it is segmented into invasive and non-invasive. The non-invasive segment accounted for the fastest growth during the forecast period. The key factors such as rise in incidences of traumatic brain injuries coupled with a high acceptance rate of minimally invasive devices, and a low risk of mortality. This increases the demand for these products which propels the market growth.

Global Brain Monitoring Market by Application

On the basis of application, it is segmented into epilepsy, dementia, parkinson’s disease, huntington’s disease, headache disorders, stroke, traumatic brain injuries, sleep disorders, and other diseases. The epilepsy segment is anticipated to dominate the market during the forecast period. The key factors such as the increasing geriatric population and the rise in the prevalence of neurological disorders are boosting the growth of the market.

Geographical Analysis of Global Brain Monitoring Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America accounted for the largest share of the global brain monitoring market. The key factors such as growing incidences of neurological diseases, a growing number of clinical trials of brain monitoring products, and the availability of medical reimbursement in the US.

Major Players of the Global Brain Monitoring Market

COVID-19 Analysis

The state of urgency to combat the outbreak has led to a significant increase in the demand for remote monitoring and patient engagement solutions. Most hospitals/healthcare facilities are currently trying to expand patient monitoring to home care settings or other temporary setups with an aim to provide optimal care. COVID-19 has led to a significant surge in demand for ventilators, and manufacturers are currently focusing their efforts to meet the increasing need for ventilators. Comprising other respiratory devices, in contrast to the brain monitoring business, particularly owing to the focus of hospitals on setting up COVID-19 specific ICUs, along with the temporary suspension of manufacturing sites in highly affected regions worldwide.

Recent Developments

• September 2021, NeuroWave Systems Inc. announced the FDA clearance of its Neuro SENSE NS-901 Monitor- a new generation brain function monitor for assessing the adequacy of anesthesia and sedation in clinical settings.
• November 2021, Brain Scientific received FDA clearance for Next-Gen Neuro Cap EEG Headset, and advanced electroencephalogram electrodes array used to obtain rapid EEG’s in routine clinical and research settings where the recording of STAT EEG’s is desired.
• February 2020, Compumedics announced milestone US FDA approval for the Orion Life Span MEG.

Brain Monitoring Market Report Coverage

• The report offers a comprehensive quantitative as well as qualitative analysis of the current global brain monitoring market outlook and estimations from 2021 to 2031, which helps to recognize the prevalent opportunities.
• A thorough analysis of aspects that boost and restrict the development of the market is provided.
• Region-wise, as well as country-wise conditions, are broadly evaluated in this report.
• The forecasts in this report are made by examining the recent trends along with future brain monitoring market potential from 2021 to 2031 in terms of revenue.
• Major players in the market are profiled in this report and their key developmental strategies are studied in detail. This will provide an insight into the competitive landscape of the global brain monitoring industry.

Frequently Asked QuestionsQ. How big is the brain monitoring market?Ans. The global brain monitoring market size was USD 5.4 billion in 2021 and is anticipated to reach USD 10.8 billion in 2031, growing at a rate of 7.2% from 2022 to 2031.Q. What is the brain monitoring market growth rate?Ans. The growth rate of the brain monitoring market is 7.2% from 2022 to 2031.Q. Which region holds a major market share for the brain monitoring market?Ans. North America holds a major market share of the brain monitoring market in 2021.Q. Which segment accounted for the largest brain monitoring market share?Ans. By application, the epilepsy segment accounted for the largest brain monitoring market shareQ. Who are the key players in the brain monitoring market?Ans. The global brain monitoring market report includes players such as Advanced Brain Monitoring, Inc., CAS Medical Systems, Inc, Compumedics Ltd, General Electric Company (GE Healthcare), Koninklijke Philips N.V. (Philips Healthcare), Medtronic Plc., Natus Medical Incorporated, Neural Analytics, Inc., Siemens AG, Cadwell Laboratories, Neurosoft Limited, Elekta A.B., InfraSacn, Inc. and BrainScope Company, Inc.Q. What are the factors driving the brain monitoring market growth?Ans. The major factors driving the growth of the market are the increasing volume of surgeries and the growing prevalence of severe trauma injuries.Q. What are the key growth strategies of brain monitoring market players?Ans. The key growth strategies of brain monitoring market players are product launch and product approval.Q. Which region will provide more business opportunities for the brain monitoring market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for brain monitoring market during the forecast period

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