Brain Monitoring Market

Global Brain Monitoring Market Size (2023 to 2028)

The global market size for brain monitoring is predicted to be worth USD 9.84 billion by 2028 from USD 6.94 billion in 2023, growing at a CAGR of 7.22% from 2023 to 2028.

Brain monitoring refers to analyzing and examining the internal cranium, cerebellum, and various parts of the brain to help doctors better understand the condition; it also provides aid in research and medicine. In addition, they play an essential role in accurate brain scans. The distinct technique of scans includes Computerized Tomography (CT) scans, Magnetic Resonance Imaging (MRI) scans, Positron Emission Tomography (PET) scans, and Magnetoencephalography (MEG) scans.

Magnetic resonance imaging (MRI) is known for its comprehensive and commonly prescribed scan. Based on type, the monitoring is categorized as structural brain scans or functional brain scans. Binding EEG electrodes conduct the EEG monitoring to the scalp, which is practical for recording brainwave patterns and the electroencephalogram of the encephalon. Positron emission tomography (PET) scans assist medical teams in investigating the phase of a tumor. Dynamic MRI or CT scans can estimate the flow rate and blood volume inside the skull.

Impact of COVID-19 on the global brain monitoring market:

The COVID-19 pandemic caused financial collapse for numerous enterprises all around the world. A severe economic crisis resulted from product supply and production limitations and nationwide lockdowns. Additionally, the viral propagation caused many fatalities and put tremendous strain on the healthcare industry due to a spike in patients and a shortage of equipment such as ventilators, oxygen cylinders, hospital beds, etc. Additionally, there was reportedly a global shortage of common medications.

Due to the outbreak of covid, the brain monitoring business mainly had adverse effects as most hospitals focused on treating patients suffering from covid establishing specific ICUs for pandemic-prone patients resulting in temporary abeyance of production and manufacturing sites for the neurological monitoring devices. 

MARKET DRIVERS:

The growing incidence of neurological diseases is majorly propelling the brain monitoring market.

The proliferation and increment of neurological diseases and neurological disorders, such as dementia, epilepsy, Parkinson's disease, Huntington's disease, headache disorders, multiple sclerosis, neuro infections, stroke, and cerebral palsy, have increased significantly over the years triggered by the hustling lifestyle specific environmental pressures and unhealthy consumption of junk food, as researches conclude that Consuming excessive junk and fatty food may increase the chance for neurons being vulnerable to inflammation. These brain disorders are often triggered by developmental, psychiatric, and neurodegenerative diseases becoming a global matter of concern. According to a study by WHO, 50 million people are impacted by dementia globally, with about 10 million untouched patients registered each year, creating demand for better and more profound ways to effectively monitor the brain for doctors to understand the complicated neuropathways to prescribe better drugs and supplements.

Dementia patients to propel the brain monitoring market growth.

The number of people with dementia is increasing worldwide as the data follows results, given that 55 million people are impacted by dementia worldwide, costing over 1.3 trillion USD annually. The patients were unable to control their emotions and mood, affecting the memory and proper functioning of the brain along with the entire cognitive abilities and causing hindrance to mental functioning. Specific causes of dementia include damage to or disruptions of brain cells, specifically in the cerebral cortex (the part of the brain which regulates memory, perception, consciousness, and language).

MARKET RESTRAINTS:

On the other hand, the high cost surrounding the monitoring procedures and practices is hampering the growth of the brain monitoring market. In addition, unfavorable reimbursement policies and a lack of skilled professionals in the field are some of the major factors inhibiting the growth of the brain monitoring market.

This research report on the global brain monitoring market has been segmented and sub-segmented based on the product, application, end-user, and region.

Brain Monitoring Market – By Product:

• Magneto encephalograph
• Electroencephalograph
• Cerebral Oximeters
• Functional Magnetic Resonance Imaging (fMRI)
• Intracranial Pressure Monitoring Devices

Over the forecast period, the electroencephalograph segment is expected to grow healthy in the global brain monitoring market. The rise in the geriatric demographic population worldwide and the use of EEG technology in operation theatres and monitoring facilities, along with the wide spread of diseases such as various neurological illnesses, including Alzheimer's and epilepsy, are contributing to the market's growth.

Brain Monitoring Market – By Application:

• Parkinson’s Disease
• Traumatic Brain Injury
• Epilepsy
• Dementia
• Sleep Disorders

By the application type, the traumatic brain injury segment is anticipated to exhibit a healthy CAGR as road fatalities, accidents, and military combats. As the technology improvises and the demand for skilled professionals increases due to the rise in the number of patients along with growing clinical trials for adopting new techniques and research in the field is contributing and significantly impacting and enabling new opportunities to sprout.

Brain Monitoring Market – By End-User:

• Hospitals
• Diagnostic Centres

The hospitals' segment by end-user is expected to contribute significantly to the progression of the market as the majority of people find access to these facilities due to the complexity of procedures and machinery along with the devices for better monitoring and scanning the disease-prone region, hospitals become compatible locations to pay a visit. In addition, the ever-increasing number of infirmaries worldwide is also a contributing factor to the expansion of the market.

Brain Monitoring Market – By Region:

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa

Geographically, North America is expected to exhibit a higher CAGR and led the market for brain monitoring worldwide in 2021. Factors such as the growing prevalence of neurological diseases, the presence of crucial player manufacturers in the region, well-established healthcare facilities, and improvised brain monitoring devices are majorly promoting the growth of the brain monitoring market in the North American region.

The growing geriatric population accounted for the growth in regions including Asia, as neurological disorders are rapidly becoming common for older adults, and the need for better monitoring devices is in demand. In addition, healthcare spending by the governance, healthcare reforms, and the gradually rising population are providing further opportunities.

KEY MARKET PARTICIPANTS:

Natus Medical, Inc., Nihon Kohden Corporation, Philips Healthcare, GE Healthcare, Siemens Healthineers, Compumedics, Ltd., Medtronic, CAS Medical Systems, Inc., Drägerwerk AG & Co. KGaA, Advanced Brain Monitoring, Masimo Corporation, Spiegelberg GmbH & Co. KG., Cadwell Industries and NeuroWave Systems, Inc. are some of the major players in the global brain monitoring market profiled in this report.

RECENT HAPPENINGS IN THIS MARKET:

• NeuroWave Systems Inc. is pleased to announce that its NeuroSENSE NS-901 Monitor, a next-generation brain function monitor for monitoring the appropriateness of anesthesia and sedation in clinical settings, has been cleared by the FDA for use in 2021.
• Masimo announces FDA clearance of SedLine Brain Function Monitoring and the SedLine Pediatric EEG Sensor for pediatric use in 2022.
• In September 2022, ClearPoint Neuro Announces FDA Clearance for ClearPoint Prism™ Neuro Laser Therapy System. The navigation and delivery to the brain are rather tricky and prove challenging at times of tumor and complicated endocranium surgeries. ClearPoint Prism™ Neuro Laser Therapy System allows and assists indicated for use to necrotize or coagulate soft tissue. In addition, the current (MRgLITT) technology holds the potential to further improvise and ease the remedy for diseases.
• In August 2022, to offer remote EEG monitoring services, medical technology firm Zeto, Inc. partnered with Next Gen Neuro, a continuous and regular EEG monitoring provider. Within 30 minutes of receiving a request through the Zeto software, Next Gen Neuro (NGN) will provide real-time EEG monitoring for Zeto users. The EEG and patient footage would then be viewed remotely by their registered EEG technologists (R.EEG.T), who would annotate it. More significantly, they will quickly alert caregivers to significant clinical occurrences. "We can improve patient outcomes by decreasing EEG treatment delays and enabling patients to receive care in place, when and when they need it."