Brain Monitoring Market by Product (MRI, CT, PET, EEG, EMG, MEG, TCD, ICP, Electrodes, Sensors, Gels, Cables), Procedure (Invasive, Non-Invasive), Disease (TBI, Stroke, Dementia, Epilepsy) & End User (Hospital, Clinic, ASC, Ambulance) - Forecasts to 2021
The brain monitoring market is expected to reach USD 12.22 billion by 2021 from USD 8.80 billion in 2016, growing at a CAGR of 6.8% from 2016 to 2021. This market is categorized on the basis of product, disease type, end user, and region.
The increasing incidence of neurological disorders, rising awareness about neurodegenerative diseases, growth in the number of traumatic brain injuries, and technological advancements are major factors driving the demand for brain monitoring devices. On the other hand, the shortage of trained professionals to effectively operate brain monitoring devices and unfavorable reimbursement policies are restraining the growth of this market. For instance, in April 2013, the U.S. President announced the launch of the BRAIN (Brain Research through Advancing Innovative Neurotechnologies) initiative for encouraging R&D related to understanding the functioning of the brain. This project enabled the neurology researchers to equip themselves with the fundamental insights necessary for diagnosis, treatment, cure, and prevention of various brain disorders. Moreover, favorable initiatives by private and public bodies to increase awareness and treatment options for such diseases are likely to boost market growth. In this regards, in September 2016, the Epilepsy Foundation (U.S.) entered into a partnership worth USD 16 million with the U.S. CDC to improve and expand education and awareness about epilepsy.
Apart from the comprehensive geographical and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on key players in the brain monitoring market and their product portfolios, developments, and strategies. The above-mentioned market research data, current market size, and forecast of the future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
The brain monitoring market on the basis of product is segmented into devices and accessories. Based on disease type the market is segmented into epilepsy, dementia, Parkinson’s disease, Huntington’s disease, headache disorders, strokes, traumatic brain injuries, sleep disorders, and other diseases. On the basis of end user, the brain monitoring market is segmented into hospitals, neurological centers, ambulances, diagnostic centers, ambulatory surgical centers (ASCs)/clinics, and other end users. Geographically, the market is segmented into North America, Europe, Asia, and the Rest of the World.
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
• Market Penetration: Comprehensive information on the product portfolios of top players in the brain monitoring market. The report analyzes the brain monitoring market by product, disease type, end user, and region
• Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the brain monitoring market
• Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of leading players in the brain monitoring market
• Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various brain monitoring products across geographies
• Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the brain monitoring market
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