Global Neurological Monitors Market, By Product Type (Magnetic Resonance Imaging (MRI) Devices, Electroencephalography Devices, Cerebral Oximeters, Intracranial Pressure Monitors, Others), Disease Type (Traumatic Brain Injury (TBI), Stroke, Sleep Disorders, Parkinson's Disease, Epilepsy, Other Diseases), Application (Monitors of Intracranial Pressure and Blood Flow Dynamics, Monitors of Brain Electrical Activity), Procedure (Invasive, Non-Invasive), End User (Healthcare Institutions, Diagnostic Centers and Research Institutes) – Industry Trends and Forecast to 2029.
Neurological Monitors Market Analysis and Size
The market for neuro monitors is expected to be worth USD 11.81 billion. The market for neuro monitors is expected to grow in the next years due to the rising number of complicated and essential procedures performed around the world. According to FMI, the demand for neuro monitoring systems is anticipated to reach US$ 3.1 billion in 2022 and rise steadily at a 6.8% CAGR from 2022 to 2029.
Data Bridge Market Research analyses that the neurological monitors market which was USD 11.81 billion in 2021, would rocket up to USD 21.22 billion by 2029, and is expected to undergo a CAGR of 7.60% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Neurological Monitors Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Magnetic Resonance Imaging (MRI) Devices, Electroencephalography Devices, Cerebral Oximeters, Intracranial Pressure Monitors, Others), Disease Type (Traumatic Brain Injury (TBI), Stroke, Sleep Disorders, Parkinson's Disease, Epilepsy, Other Diseases), Application (Monitors of Intracranial Pressure and Blood Flow Dynamics, Monitors of Brain Electrical Activity), Procedure (Invasive, Non-Invasive), End User (Healthcare Institutions, Diagnostic Centers and Research Institutes)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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NIHON KOHDEN CORPORATION (Japan), Koninklijke Philips N.V. (Netherlands), GENERAL ELECTRIC (U.S.), Siemens (Germany), Medtronic (Ireland), Advanced Brain Monitoring, Inc. (U.S.), Drägerwerk AG & Co. KGaA (U.S.), Masimo (U.S.), Blackrock Neurotech (U.S.), Cadwell Industries, Inc (U.S.), Delsys Incorporated (U.S.), Electrical Geodesics, Inc. (U.S.), Motion Lab Systems, Inc (U.S.), Neurovirtual/Sleepvirtual (U.S.), Zynex Medical (U.S.)
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Market Opportunities
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Market Definition
The purpose of neurological monitors is to keep track of the health of certain neural structures, such as nerves, the spinal cord, and specific brain regions. The EEG monitors can be divided into two primary types based on their intended use or the quantitative EEG index used to analyse and evaluate brain electrical activity.
Neurological Monitors Market Dynamics
Drivers
- Increase in the prevalence of neurological disorders
In the forecast period of 2022–2029, there will likely be a significant increase in the prevalence of neurological disorders, traumatic brain injuries, timely product approvals, technological advancements in the medical sciences, an increase in the number of hospitals, and better healthcare infrastructure.
- Rise in chronic diseases
As chronic diseases become more common, there will certainly be a rapid increase in the demand for neuro monitoring devices. Another significant element that is predicted to be positive for the market is the rising number of traffic accidents. The market is also anticipated to grow as doctors become more aware of the advantages of neuro monitoring systems.
- Rise in clinical trials
Additionally, patients with chronic illnesses is expected to contribute to this expansion. Another important aspect that is anticipated to support the market is the growing number of clinical trials being carried out by research organisations to demonstrate the therapeutic efficacy of neuro monitoring systems.
Opportunities
Provision of portability facilities will further create new and advanced opportunities that will lead to the growth of the neurological monitors market in the above mentioned forecast period.
Restraints/Challenges
On the other hand, lack of trained professionals along with high cost of monitoring devices will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the market.
This neurological monitors market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the neurological monitors market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Neurological Monitors Market
The COVID-19 will certainly have a long-term effect on treating patients with neurological illnesses. The approach to neurological diagnosis and treatment has typically been in-person. However, the need for alternative forms of care is important in order to protect both patients and medical personnel. The Personal View by Bloem and colleagues on using Parkinson's disease as an example to change care for chronic neurological patients is timely. Though the proposed patient-centered integrated care model may not be easily generalised because to variations in healthcare systems, it has nevertheless sparked discussions about the future of neurological services.
Global Neurological Monitors Market Scope
The neurological monitors market is segmented on the basis of product type, disease type, application, procedure and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Magnetic Resonance Imaging (MRI) Devices
- Electroencephalography Devices
- Cerebral Oximeters
- Intracranial Pressure Monitors
- Others
Disease Type
- Traumatic Brain Injury (TBI)
- Stroke Sleep Disorders
- Parkinson's Disease
- Epilepsy
- Other Diseases
Application
- Monitors of Intracranial Pressure
- Blood Flow Dynamics
- Monitors of Brain Electrical Activity
Procedure
- Invasive
- Non-Invasive
End User
- Healthcare Institutions
- Diagnostic Centers
- Research Institutes
Neurological Monitors Market Regional Analysis/Insights
The neurological monitors market is analysed and market size insights and trends are provided by country, product type, disease type, application, procedure and end user as referenced above.
The countries covered in the neurological monitors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the neurological monitors market due to the high occurrences of neurological diseases along with prevalence of neurological monitoring devices.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to the focus of various established market players to expand their presence in this particular region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The neurological monitors market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Global neurological monitors market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the neurological monitors market. The data is available for historic period 2010-2020.
Competitive Landscape and Neurological Monitors Market Share Analysis
The neurological monitors market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to neurological monitors market.
Some of the major players operating in the neurological monitors market are:
- NIHON KOHDEN CORPORATION (Japan)
- Koninklijke Philips N.V. (Netherlands)
- GENERAL ELECTRIC (U.S.)
- Siemens (Germany)
- Medtronic (Ireland)
- Advanced Brain Monitoring, Inc. (U.S.)
- Drägerwerk AG & Co. KGaA (U.S.)
- Masimo (U.S.)
- Blackrock Neurotech (U.S.)
- Cadwell Industries, Inc (U.S.)
- Delsys Incorporated (U.S.)
- Electrical Geodesics, Inc. (U.S.)
- Motion Lab Systems, Inc (U.S.)
- Neurovirtual / Sleepvirtual (U.S.)
- Zynex Medical (U.S.)
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