Global Brain Monitoring Market

Global Brain Monitoring Market, By Product (Devices, Accessories), By Medical Condition (Traumatic Brain Injury, Stroke, Dementia, Headache Disorders, Sleep Disorders, Parkinson’s Disease, Epilepsy, Huntington’s Disease, Other Diseases), By End-User (Hospitals, Neurology Centers, Ambulatory Surgery Centers (ASCs) & Clinics, Diagnostic Centers and Others), By Region (North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle-East & Africa (MEA) Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • Published Date: August 2021
  • Report ID: BWC2154
  • Available Format: PDF
  • Page: 197

Report Overview

The market for brain monitoring is mainly driven by the growing prevalence of neurological disorders, traumatic brain injuries, the rising awareness of neurological diseases, and the increasing use of brain monitoring in clinical trials.

The global brain monitoring market was worth USD 6.2 billion in 2020 and is further projected to reach USD 9.3 billion by the year 2027, growing at a CAGR of 5.8% in the forecast period. The increasing prevalence of neurological disorders, as well as cardiovascular diseases, are some of the leading factors driving the growth of the market. Also predicted to drive the market in the forecast period are advancements in healthcare and the growing awareness of neurological diseases such as epilepsy, dementia, and Alzheimer's. The global brain monitoring market, however, will be hampered by unfavorable reimbursement policies and stringent government regulations during the forecast period.

Brain Monitoring Market

Source: BlueWeave Consulting

Global Brain Monitoring Market- Overview

Brain monitoring is a technique through which physicians monitor or study the brain’s activities and responses towards the stimulus. For such a study, the physicians or doctors use brain monitoring devices. A brain monitoring device is used to assess the structure and function of the brain to monitor and diagnose neurological conditions.Several brain monitoring devices are used to monitor brain activity, including magnetoencephalography, cerebral oximeters, intracranial pressure monitors, MRI scanners, and electroencephalography (EEG) devices.For example, EEG devices are used to record and track patterns of electrical brain activity and later to interpret the same data for the diagnosis of any neurological disorder.

Global Brain Monitoring Market Forecast and Trends

Growth Drivers

Increasing Prevalence of Neurological Disorders

The prevalence of neurological disorders is increasing at a very high rate across the globe. Neurological disorders can be triggered by a variety of factors, such as genetics, lifestyle or environment, traumatic brain injury or spinal cord or nerve injury, etc.According to research,270 million people suffer from neurological disorders across the globe, with headaches, strokes, seizures, and dementia being some of the more common disorders.Moreover, World Health Organization figures show that in September 2019, nearly 50 million people suffered from dementia globally, with almost 10 million cases being recorded each year.As a result, the diagnosis and treatment of these neurological disorders are expected to accelerate in the next few years, thereby propelling the market growth.

Technological Advancements in The Brain Monitoring Devices

Despite various technological advancements, the development of brain diagnosis devices that can accurately diagnose the presence of neurological disorders is still unexplored. However, this means the market holds great potential for technological advancements as well as research and development. Various research activities are undergoing in developing innovative devices which can track neural activities beneath the scalp. The research is also focused on developing electroencephalography (EEG) systems that are minimally invasive and can remain under the scalp for longer periods. Thus, technological advances are expected to boost the global brain monitoring devices during the forecast period.

Restraints

High Cost of Brain Monitoring Devices

The high cost of brain monitoring devices is one of the major factors restricting the adoption of brain monitoring devices especially in developing economies. The average cost of an MRI scanner ranges from USD 150,000 to USD 1.2 million. The cost of an EEG device ranges from USD 30,000 to USD 175,000. The same goes for CT scanners, MEG devices, and PET scanners, which are also high-technology devices requiring high investment.Therefore, the healthcare facilities have to be dependent on government or external funding to adopt such devices.

Impact of COVID-19 on the Global Brain Monitoring Market

The COVID-19 situation has had an adverse effect on the global brain monitoring market. The priorities of the healthcare facilities increased toward managing the surging COVID-19 cases. As a result of investments towards treating COVID-19-infected patients, the investments of healthcare facilities towards ventilators, respiratory diseases, and remote patient monitoring have increased, resulting in the decline of demand for brain monitoring devices.However, the market is projected to flourish in the post-COVID-19 period. According to various researches,the lockdown has affected the psychological health of the people, and work-from-home has also contributed to fatigue. This is anticipated to pull significant demand for brain monitoring devices in the coming years.

Global Brain Monitoring Market - By Product

Based on products, the global brain monitoring market is categorized into devices and accessories. The devices segment accounts for the largest market share and is also anticipated to grow at a high CAGR during the forecast period. There are various types of devices available in the market for brain monitoring applications such as MRI scanners, CT scanners, EEG devices, PET scanners, sleep monitoring devices, cerebral oximeters, etc. Since the last few years, there has been a significant rise in the demand for brain monitoring devices due to a rise in the prevalence of various neurological disorders, mostly caused by poor lifestyles or heredity causes.

Global Brain Monitoring Market - By Medical Condition

Based on medical conditions, the global brain monitoring market is segmented into traumatic brain injury, stroke, dementia, headache disorders, sleep disorders, Parkinson’s disease, epilepsy, Huntington’s disease, and other diseases. Among these segments, traumatic brain injury holds the largest market share. Traumatic brain injuries result from trauma that strikes the head violently, such as sports injuries or road-related accidents.With the rising number of road accidents, traumatic brain injuries have also increased dramatically, particularly in developing and underdeveloped countries.

Global Brain Monitoring Market - By End-User

Based on end-users, the global brain monitoring market is categorized into hospitals, neurology centers, ambulatory surgery centers (ASCs) & clinics, diagnostic centers, and others. The adoption of brain monitoring devices is quite high in hospitals, and therefore,the hospital segment accounts for the largest market share among all segments. Hospitals have a large percentage of patients seeking diagnosis and treatment of neurological disorders.In addition, hospitals are increasingly adopting advanced medical technologies, such as electroencephalography (EEG) for diagnosing neurological disorders, which in turn is favoring the growth of the hospitals’ segment.

Global Brain Monitoring Market - Regional Insights

Geographically, the global brain monitoring market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. Among these regions, North America dominates the global brain monitoring market with the largest market share. A major reason for the growth is the increasing demand for brain monitoring devices in the healthcare system and various other medical fields.Additionally, neurological diseases are very prevalent in this region, as is the awareness of such disorders. As a result, the diagnosis rate of such disorders is also high which is propelling the demand for brain monitoring devices and products.

Regional Insights

Source: BlueWeave Consulting

Competitive Landscape

The leading players in the global brain monitoring market are Compumedics, Nonin Medical Inc., Natus Medical Incorporated, Koninklijke Philips NV, Medtronic PLC, Cadwell Laboratories, Integra Lifesciences Holding Corporation, Advanced Brain Monitoring Inc., Nihon Kohden Corporation, Elekta AB, Masimo Corporation, CAS Medical Systems, Inc., Neurowave Systems, Inc., and other prominent players.

Industry giants like Medtronic PLC, Phillips, and Integra Lifesciences make the market highly consolidated. However, many regional companies are also emerging with great potential to give stiff competition to these global players. To stay competitive, the companies have been constantly innovating and advancing their products and devices.

Recent Developments

  • In May 2021, CorrActions, an Israel-based neuroscience technology-based startup, announced that it has raised around USD 2.7 million in seed funding from various investors including VentureIsrael, Operator Partners, and the Israeli Innovation Authority.
  • In April 2021, Helius Medical, a US-based neurotech company, announced to have received FDA clearance for its devices that stimulate the brain through the tongue. This portable and non-invasive device is specially designed for sclerosis patients but can also be used for application in other disorders as well.

Scope of the Report

Attributes

Details

Years Considered

Historical data – 2017-2020

Base Year – 2020

Forecast – 2021 – 2027

Facts Covered

Revenue in USD Billion

Market Coverage

North America, Europe, the Asia-Pacific, Latin America, and the Middle East and Africa

Product Service/Segmentation

By Product, By Medical Condition, By End-User, By Region

Key Players

Compumedics, Nonin Medical Inc., Natus Medical Incorporated, Koninklijke Philips NV, Medtronic PLC, Cadwell Laboratories, Integra Lifesciences Holding Corporation, Advanced Brain Monitoring Inc., Nihon Kohden Corporation, Elekta AB, Masimo Corporation, Spiegelberg GmbH & Co. KG., GE Healthcare, Siemens Healthineers, Neurosoft, RIMED, Drägerwerk AG & Co. KGAA, CAS Medical Systems, Inc., Neurowave Systems, Inc., and other prominent players.

 

By Product

Devices

  • MRI scanners
  • CT scanners
  • EEG devices
  • PET scanners
  • Sleep monitoring devices
  • Cerebral oximeters
  • EMG devices
  • Intracranial pressure monitors
  • MEG devices
  • TCD devices

Accessories

  • Electrodes
  • Sensors
  • Pastes & gels
  • Caps
  • Batteries
  • Cables
  • Other accessories

By Medical Condition

  • Traumatic Brain Injury
  • Stroke
  • Dementia
  • Headache Disorders
  • Sleep Disorders
  • Parkinson’s Disease
  • Epilepsy
  • Huntington’s Disease
  • Other Diseases

By End-User

  • Hospitals
  • Neurology Centers
  • Ambulatory Surgery Centers (ASCs) & Clinics
  • Diagnostic Centers
  • Others

By Region

  • North America
  • Europe
  • Asia-Pacific (APAC)
  • Latin America (LATAM)
  • Middle-East & Africa (MEA)

Frequently Asked Questions:

Ans: The global Brain Monitoring market reached USD 6.2 billion in 2020.
Ans: The major factors driving the growth of the global Brain Monitoring market are the increasing prevalence of neurological disorders and technological advancements in brain monitoring devices.
Ans: The key players in the global Brain Monitoring market are: Compumedics, Nonin Medical Inc., Natus Medical Incorporated, Koninklijke Philips NV, Medtronic PLC, Cadwell Laboratories, Integra Lifesciences Holding Corporation, Advanced Brain Monitoring Inc., Nihon Kohden Corporation, Elekta AB, Masimo Corporation, Spiegelberg GmbH & Co. KG., Ge Healthcare, Siemens Healthineers, Neurosoft, RIMED, Drägerwerk AG & Co. KGAA, CAS Medical Systems, Inc., Neurowave Systems, Inc., and other prominent players.
Ans: The device segment accounted for the largest share in the global Brain Monitoring market.