Brain Monitoring Market - All You Need to Know About Emerging Trends

Report Objectives:

# To define, characterize, and project the market for brain monitoring according to the following factors: end user, medical condition, modality, product, process, and geography.

# To give comprehensive details about the key elements (drivers, constraints, opportunities, and challenges) affecting the market's growth.

# To carefully examine each micromarket's potential, growth trends, and contributions to the market for brain monitoring as a whole.

# To give market leaders with information on the competitive environment and to assess the market's opportunities for stakeholders.

# To create a detailed analysis of the market's major players' market shares and core capabilities.

# To project market segment sizes with regard to the following four major regions: Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa.

# To monitor and assess developments in the competition, such as the introduction of new products, contracts, alliances, and expansions.

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Key Growth Factors:

The main factors driving the market for brain monitoring are the increasing incidence and prevalence of neurological disorders, increased public awareness of neurodegenerative diseases, an increase in traumatic brain injuries, and the growing use of brain monitoring in clinical trials. Furthermore, it is predicted that market participants will have development possibilities due to the growing demand for minimally invasive and non-invasive devices, the rising therapeutic uses of brain monitoring instruments, and the growing healthcare sector in emerging nations.

Projected Surge in Revenue Generation:

The global brain monitoring market in terms of revenue was estimated to be worth $3.5 billion in 2023 and is poised to reach $4.8 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028.

Data Triangulation:

After arriving at the overall market size, from the market size estimation process explained above, the Brain Monitoring market was split into segments and subsegments. To complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the Brain Monitoring industry.

End Users:

In the brain monitoring market, hospitals held the most proportion of the end-user segment.

The global market for brain monitoring devices is divided into hospitals, neurology centers, diagnostic centers, ASCs & clinics, and other end users based on end-users. In 2022, the hospital sector accounted for the greatest proportion of the worldwide brain monitoring market. Brain monitoring requires complex processes with expensive, high-tech equipment that is usually found in hospital settings. Compared to smaller clinics and other end users, hospitals see a noticeably higher volume of patients. Furthermore, hospitals in particular can afford the maintenance expenditures connected with brain monitoring devices, which place a significant strain on healthcare facilities. Consequently, brain monitoring gadgets are primarily utilized in hospitals, which adds to their market share and supremacy in this particular category.

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Geographical Growth Scenario:

In 2022, North America held the most market share for brain monitoring worldwide.

The market for brain monitoring is divided into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. In 2022, the brain monitoring market's greatest share belonged to North America. This is explained by the rising prevalence of neurological disorders, the rise in brain monitoring product clinical trials, and the US's availability of medical coverage.

Leading Companies Operating in This Market:

Some of the leading players in the Brain Monitoring market include Advanced Brain Monitoring (US), Masimo Corporation (US), Unilabs Holdings AB (Sweden), Cadwell Industries (US), NeuroWave Systems, Inc. (US), Siemens Healthineers (Germany), Compumedics, Ltd. (Australia), Medtronic (Ireland), Luciole Medical AG (Switzerland), Drägerwerk AG & Co. KGaA (Germany), Natus Medical, Inc. (US), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (US), Nonin Medical, Inc. (US), Integra LifeSciences Corporation (US), and Neurosoft (Russia).

Preparing for the Future: What’s Next in Brain Monitoring?

 Brain Monitoring technologies – Introduction:

 

Brain monitoring technologies are those which measure and record the electrical and chemical activity of the brain. These technologies have been used for decades by a variety of medical and research professionals in order to assess brain function, diagnose and treat diseases and disorders, and improve quality of life. Examples of these technologies include electroencephalography (EEG), functional magnetic resonance imaging (fMRI), and magnetoencephalography (MEG).

 

EEG is used to measure electrical activity in the brain and is often used to diagnose epilepsy and other neurological disorders. fMRI measures blood flow to different parts of the brain, which can reveal which areas are most active during a task, and MEG measures the magnetic fields generated by electrical activity in the brain. These technologies allow us to gain a better understanding of the brain and how it functions.

 

Importance of Having Advanced Brain Monitoring Systems:

 

Advanced brain monitoring systems are becoming increasingly important in a variety of settings.

 

In the medical field, these systems can help doctors and medical professionals diagnose, treat, and monitor brain disorders more accurately and efficiently.

 

In the research field, advanced brain monitoring systems can help scientists gain a better understanding of how the brain works, which could lead to breakthroughs in how to treat various brain disorders.

 

In the educational field, advanced brain monitoring systems could help identify learning disabilities, allowing teachers to better tailor their instruction to the needs of individual students.

 

Finally, in the military field, advanced brain monitoring systems could help detect and assess traumatic brain injuries in soldiers and develop better ways to treat them.

 

Overall, advanced brain monitoring systems have the potential to revolutionize the way we treat and understand the brain, leading to better patient care, greater research opportunities, and improved educational outcomes.

 

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Emerging Trends:

 

1. Wearable Sensors: Wearable sensors, such as optical sensors, accelerometers, and electromyography (EMG) sensors, are being used to monitor brain activity. These sensors are designed to detect changes in the electrical activity of the brain, allowing for real-time monitoring of the user’s state. This technology can be used to detect changes in alertness, fatigue, and even stress levels.

 

2. Brain Imaging: Brain imaging technologies such as functional Magnetic Resonance Imaging (fMRI) and Positron Emission Tomography (PET) are being used to track changes in brain activity. These technologies allow for more detailed analysis of the brain’s structure and activity, providing insight into its various functions.

 

3. Big Data Analysis: Big data analysis is being used to study the brain’s activity. This involves collecting and analysing large amounts of data to identify patterns in brain activity. This technology can be used to identify biomarkers of specific mental states, such as anxiety and depression.

 

4. Artificial Intelligence: Artificial intelligence (AI) is being used to interpret and analyse brain data. AI-based algorithms can be used to predict changes in the user’s mental state, as well as detect abnormalities in brain activity. This technology is being used to develop new treatments for a variety of psychiatric disorders.

 

5. Brain-Computer Interfaces: Brain-computer interfaces (BCIs) are being developed to allow users to interact with computers using their brain activity. This technology could be used to develop assistive devices for people with physical disabilities, as well as to improve communication between users and computers.

 

Geographical Growth Dynamics:

 

The Brain Monitoring industry is highly geographically concentrated, with North America and Europe accounting for the largest share of the global market. However, the industry is expected to experience rapid growth in Asia Pacific as well, due to increasing awareness of mental health issues in the region and the rise of medical tourism. Additionally, a growing number of companies focusing on developing innovative technologies for brain monitoring are expected to drive the industry's growth in the coming years.

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Brain Monitoring Market - Emerging Innovations to Feed the Global Growth

 Overview of This Study:

This study involved four major activities in estimating the size of brain monitoring market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Research Methodologies Followed:

Primary Research:

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources are mainly industry experts from the core and related industries and preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations related to all segments of this industry’s value chain.

Secondary Research:

This research study involved widespread secondary sources; directories; databases such as Bloomberg Business, Factiva, and Dun & Bradstreet; white papers; annual reports; company house documents; investor presentations; and the SEC filings of companies.

Secondary research was used to identify and collect information useful for an extensive, technical, market-oriented, and commercial study of the brain monitoring market. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

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Projected Surge in Revenue Generation:

The global brain monitoring market size is estimated to be USD 8.0 billion by 2026, from USD 5.8 billion in 2021, at a CAGR of 6.5%.

Restraint: Research High cost of complex brain monitoring procedures and devices

The high cost of brain monitoring surgeries and devices is a major factor restraining the global brain monitoring market, especially 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 instance, 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. Likewise, a single MEG system costs roughly USD 2.5–3 million.

Driver: Increasing incidence and prevalence of neurological disorders

The global incidence and prevalence of 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.

Brain disorders, which include a combination of developmental, psychiatric, and neurodegenerative diseases, are a growing cause of morbidity across the globe. This can primarily 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) estimates that at least 60% of individuals aged 65 years and above will be living with more than one chronic condition by 2030.

Opportunity: The increasing demand for non-invasive and minimally invasive devices

Invasive monitoring is a complex, painful, and risky process, as it involves direct intervention with sensitive brain tissue. Doctors and patients, therefore, show a high inclination toward the use of non-invasive or minimally invasive brain monitoring devices. Owing to their advantages, there has been a rapid increase in the demand for non-invasive ICP monitors, TCD devices, tympanic membrane displacement procedures, optic nerve sheath diameter, CT scan/MRI, and fundoscopy, which are reliable alternatives to invasive techniques, thus compelling players in this market to develop and commercialize such products.

In March 2019, Masimo (US) received CE Mark approval for its next-generation SedLine brain function monitor for pediatric patients aged between one and 18 years of age; this product assesses the brain function while the patient is under anesthesia.

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North America accounted for the largest share 38.0% of the global brain monitoring market

North America, Europe, the Asia Pacific, and the Rest of the World. North America held the largest share 38.0% of the global brain monitoring market in 2020, 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.

Brain Monitoring Market worth $8.0 billion by 2026

 Expected Revenue Surge:

The global Brain Monitoring Market size is projected to reach USD 8.0 billion by 2026 from USD 5.8 billion in 2021, at a CAGR of 6.5%.

Global Growth Boosting Factors:

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.

On the other hand, the high cost of complex brain monitoring procedures and devices, unfavorable reimbursement policies, and the shortage of trained professionals to effectively operate brain monitoring devices are restraining the growth of this market.

Impact of covid-19 on The brain monitoring Market

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 of the 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, including other respiratory devices, in contrast to brain monitoring devices. The pandemic is likely to have an adverse impact on the brain monitoring business, particularly due to the focus of hospitals on setting up COVID-19 specific ICUs, along with the temporary suspension of production and manufacturing sites in major affected regions across the globe.

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The devices segment accounted for the largest share 74.9% of the brain monitoring market.

By product, the global brain monitoring market is categorized into devices and accessories. The devices segment held the largest share 74.9% of the brain monitoring market in 2020. 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

Hospitals  accounted for the largest share 57.8% of the end user segment of the brain monitoring 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 57.8% of the global brain monitoring market in 2020. 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 38.0% of the global brain monitoring market

North America, Europe, the Asia Pacific, and the Rest of the World. North America held the largest share 38.0% of the global brain monitoring market in 2020, 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.

Global Leading Companies:

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), Edwards Lifesciences Corporation (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), CGX (a Cognionics Company) (US), Emotive (US), InfraScan, Inc. (US), Neusoft Medical Systems Co., Ltd. (China), Clinical Science Systems (Netherlands), Noraxon (US), SternMed GmbH (Germany), and Rimed (US).

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Brain Monitoring Market worth $8.0 billion by 2026

 According to the new market research report, "Brain Monitoring Market by Product (Accessories, MRI, CT, PET, EEG, EMG, MEG, ICP, Electrode, Paste, Gel, Battery, Cable, Invasive), Disease (TBI, Stroke, Dementia, Epilepsy, Headache, Sleep) & End User (Hospital, Clinic, ASC) - Global Forecasts to 2026" The global brain monitoring market size is projected to reach USD 8.0 billion by 2026 from USD 5.8 billion in 2021, at a CAGR of 6.5%.

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Global Industry Growth Boosting Factors:

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. On the other hand, the high cost of complex brain monitoring procedures and devices, unfavorable reimbursement policies, and the shortage of trained professionals to effectively operate brain monitoring devices are restraining the growth of this market.

Overview:

This study involved four major activities in estimating the size of brain monitoring market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Driver: Increasing incidence and prevalence of neurological disorders

The global incidence and prevalence of 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. Brain disorders, which include a combination of developmental, psychiatric, and neurodegenerative diseases, are a growing cause of morbidity across the globe. This can primarily 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) estimates that at least 60% of individuals aged 65 years and above will be living with more than one chronic condition by 2030.

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Restraint: Research High cost of complex brain monitoring procedures and devices

The high cost of brain monitoring surgeries and devices is a major factor restraining the global brain monitoring market, especially 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 instance, 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. Likewise, a single MEG system costs roughly USD 2.5–3 million. Due 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. Additionally, the maintenance cost and other associated indirect expenses increase the total cost of ownership of these devices, thereby limiting their adoption.

Opportunity: The increasing demand for non-invasive and minimally invasive devices

Invasive monitoring is a complex, painful, and risky process, as it involves direct intervention with sensitive brain tissue. Doctors and patients, therefore, show a high inclination toward the use of non-invasive or minimally invasive brain monitoring devices. Owing to their advantages, there has been a rapid increase in the demand for non-invasive ICP monitors, TCD devices, tympanic membrane displacement procedures, optic nerve sheath diameter, CT scan/MRI, and fundoscopy, which are reliable alternatives to invasive techniques, thus compelling players in this market to develop and commercialize such products.

In March 2019, Masimo (US) received CE Mark approval for its next-generation SedLine brain function monitor for pediatric patients aged between one and 18 years of age; this product assesses the brain function while the patient is under anesthesia.

By end user type, the hospital segment accounted for the largest share 57.8% of the brain monitoring market in 2020.

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 57.8 % of the global brain monitoring market in 2020. 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.

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Brain Monitoring Market worth $8.0 billion by 2026

 Overview:

This study involved four major activities in estimating the size of brain monitoring market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market.

The next step was to validate these findings, assumptions, and sizing with industry experts across value chains through primary research. The bottom-up approach was employed to estimate the overall market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and sub-segments.

Expected Revenue Gains:

The global brain monitoring market size is projected to reach USD 8.0 billion by 2026 from USD 5.8 billion in 2021, at a CAGR of 6.5%.

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https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=909

Major Growth Boosting Factors:

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.

On the other hand, the high cost of complex brain monitoring procedures and devices, unfavorable reimbursement policies, and the shortage of trained professionals to effectively operate brain monitoring devices are restraining the growth of this market.

Impact of covid-19 on The brain monitoring Market

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 of the 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, including other respiratory devices, in contrast to brain monitoring devices. The pandemic is likely to have an adverse impact on the brain monitoring business, particularly due to the focus of hospitals on setting up COVID-19 specific ICUs, along with the temporary suspension of production and manufacturing sites in major affected regions across the globe.

The devices segment accounted for the largest share 74.9% of the brain monitoring market.

By product, the global brain monitoring market is categorized into devices and accessories. The devices segment held the largest share 74.9% of the brain monitoring market in 2020. 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.

Hospitals  accounted for the largest share 57.8% of the end user segment of the brain monitoring 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 57.8% of the global brain monitoring market in 2020. 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 38.0% of the global brain monitoring market

North America, Europe, the Asia Pacific, and the Rest of the World. North America held the largest share 38.0% of the global brain monitoring market in 2020, 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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Key Players:

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), Edwards Lifesciences Corporation (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), CGX (a Cognionics Company) (US), Emotive (US), InfraScan, Inc. (US), Neusoft Medical Systems Co., Ltd. (China), Clinical Science Systems (Netherlands), Noraxon (US), SternMed GmbH (Germany), and Rimed (US).