CHICAGO, July 30, 2020 /PRNewswire/ -- According to the new market research report "Brain Monitoring Market by Product (Device, MRI, CT, PET, EEG, EMG, MEG, TCD, ICP, Electrode, Paste, Gel, Battery, Cable, Invasive), Disease (TBI, Stroke, Dementia, Epilepsy, Headache, Sleep) & End User (Hospital, Clinic, ASC) - Global Forecasts to 2025", published by MarketsandMarkets™, the Brain Monitoring Market is estimated to be USD 8.6 billion by 2025 from USD 6.3 billion in 2020, at a CAGR of 6.2%.
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The Brain Monitoring Market is mainly driven by factors such as the increasing incidence and prevalence of neurological disorders, rising awareness of neurodegenerative diseases, growth in the number of traumatic brain injuries, and growing applications of brain monitoring in clinical trials.
The devices segment accounted for the largest share of the market
By product, the global market is categorized into devices and accessories. The devices segment held the largest share of the market in 2019. This is mainly due to the rising incidence of neurological, neurodegenerative, psychotic, and sleep disorders, the need for early diagnosis, the availability of innovative portable and wearable home-based monitoring devices, and increasing patient awareness
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Hospitals accounted for the largest share of the end user segment of the market
Based on end-users, the global brain monitoring devices market is segmented into hospitals, neurology centers, diagnostic centers, ASCs & clinics, and other end users. The hospital segment held the largest share of the global Brain Monitoring Market in 2019. Brain monitoring is a complex process, requiring expensive and advanced devices and equipment that are mainly found in hospitals. Hospitals also see a considerably larger inflow of patients as compared to small clinics and other end users. Additionally, brain monitoring devices pose a considerable burden in terms of maintenance expenses on healthcare facilities; hospitals, more than other end-users, can bear such costs. Hence, brain monitoring devices are mostly used in hospitals, which consequently account for the largest share of this market segment.
North America accounted for the largest share of the global market
North America, Europe, the Asia Pacific, and the Rest of the World. North America held the largest share of the global Brain Monitoring Market in 2019, while the Asia Pacific is projected to be the fastest-growing region in the forecast period. The high growth rate of the market in the Asia Pacific region can be attributed to the availability of low-cost labor and skilled manpower, increase in disposable incomes, rising prevalence of neurodegenerative disorders, and increasing government emphasis on healthcare reforms in the region.
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Some of the leading players in the Brain Monitoring Market include Natus Medical, Inc. (US), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (US), Siemens Healthineers (Germany), Compumedics, Ltd. (Australia), Medtronic (Ireland), CAS Medical Systems, Inc. (US), Drägerwerk AG & Co. KGaA (Germany), Advanced Brain Monitoring (US), Masimo Corporation (US), Spiegelberg GmbH & Co. KG (Germany), Cadwell Industries (US), NeuroWave Systems, Inc. (US), Nonin Medical, Inc. (US), Integra LifeSciences Corporation (US), Neurosoft (Russia), and Rimed (US).
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