Intracranial pressure monitoring devices are used to treat and diagnose conditions associated with increased pressure within the skull and brain. Some common medical conditions that require intracranial pressure monitoring include traumatic brain injury, subarachnoid hemorrhage, hydrocephalus, and intracranial tumors. Key intracranial pressure monitoring product types include extraventricular drainage, microtransducer monitoring, and fiber optic/strain gauge monitors. These devices help in real-time monitoring of intracranial pressure, which is important for guiding treatment interventions. In recent years, advancements in wireless monitoring capabilities have increased the mobility and ease of use of these devices.
The Global intracranial pressure monitoring devices Market is estimated to be valued at US$ 1.68 Bn in 2024 and is expected to exhibit a CAGR of 7.9% over the forecast period of 2023 to 2030.
Key Takeaways
Key players operating in the intracranial pressure monitoring devices are Codman & Shurtleff Incorporated, Sophysa, Gaeltec Devices Limited, Integra Lifesciences Co., Raumedic AG, VITTAMED, Orsan Medical Technologies, Haiying Medical, and other. The rising incidence of traumatic brain injury and neurological disorders has opened up opportunities for market players to develop innovative devices for improved patient outcomes. Advancement such as wireless and non-invasive technologies are further strengthening opportunities. The growing preference for non-invasive techniques for long term monitoring is fueling innovations like fiber optic monitors and other advanced solutions.
Market Drivers
The intracranial pressure monitoring devices market is primarily driven by the rising incidence of neurological disorders, trauma injuries, and brain tumors. For instance, traumatic brain injury is a major cause of death and disability especially among children and older adults. According to the Centers for Disease Control, over 2.8 million TBI-related emergency department visits, hospitalizations, and deaths occur in the US each year. Increased investments in healthcare infrastructure and availability of reimbursement are also supporting the adoption of these high-end monitoring devices. Favorable regulatory guidelines for new product approvals will further aid the market growth during the forecast period.
Current challenges in Intracranial Pressure Monitoring Devices Market
The intracranial pressure monitoring devices market faces several challenges that hinder its growth. The high costs of the devices restrict their widespread adoption, especially in developing regions where healthcare budgets are limited. Limited reimbursement policies worldwide also discourage medical practitioners from routinely using these life-saving devices. In addition, lack of skilled professionals to handle such devices and interpret the diagnostic data accurately poses a major roadblock. This challenge is more pronounced in remote areas with limited access to specialized neurocritical care.
SWOT Analysis
Strength: Precise and continuous measurement of intracranial pressure enables timely diagnosis and management of neurological conditions. Wireless and battery-powered devices offer enhanced mobility.
Weakness: Invasive procedures for sensor placement make infections a risk. Recalibration needs and high device costs limit usage.
Opportunity: Growing geriatric population and rising incidence of traumatic brain injuries and neurological disorders widen the target pool. Remote patient monitoring via apps supports home healthcare.
Threats: Presence of alternative non-invasive diagnostic modalities. Stringent regulations for new product approvals.
Geographical regions with high market concentration
North America dominates the intracranial pressure monitoring devices market currently, contributing over 40% of the global revenue. This is owing to the rising adoption of advanced neurocritical care, presence of major players, and growing uptake of precision monitoring tools.
Asia Pacific exhibits the fastest region growth in the forecast period. This can be attributed to increasing healthcare spending, expanding patient pool of neurological disorders, and growing medical tourism in countries like India, China, and Japan.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
