Intracranial Pressure Monitoring Market Size (2024 - 2029)

Intracranial Pressure Monitoring Market Analysis

The Intracranial Pressure Monitoring Market size is estimated at USD 395.43 million in 2024, and is expected to reach USD 512.66 million by 2029, growing at a CAGR of 5.33% during the forecast period (2024-2029).

The COVID-19 pandemic had a significant impact on the intracranial pressure monitoring market owing to the factors such as the diversion of resources to COVID-19 patients, the decline in the footfall of patients other than COVID-19 at hospitals and clinics, and cancellation or rescheduling of procedures, among other factors. Several studies reported that COVID-19 had a severe impact on people with medical conditions like traumatic brain injury (TBI), which may have increased the demand for intracranial pressure monitoring. For instance, according to a research study published in September 2021, by the National Institute of Health, elderly patients with moderate to severe Traumatic Brain Injury (TBI) experienced a considerably higher risk of in-hospital mortality if they had a coronavirus infection and the patients with COVID-19 were 5.45 times more at risk to expire before discharge than the TBI patients who were not COVID-19 positive. Hence, COVID-19 had a significant impact on the intracranial pressure monitoring market. However, currently, the market has reached its pre-pandemic nature in terms of demand for the products and is expected to witness strong growth in the coming years.

Key factors propelling the market growth include the increasing prevalence of neurodegenerative disorders, the growing geriatric population, increasing cases of head and brain injury, and increasing awareness and technological advancements in intracranial pressure monitoring.

Increasing head injuries across the world are one of the leading factors for market growth. For instance, according to the data from the National Institute of Health published in April 2021, according to country-level research, crude incidence rates for TBI for all ages and severity levels ranged from 47.3 per 100,000 to 694 per 100,000 people per year and 83.3 per 100,000 to 849 per 100,000 people per year. Hence, the high number of people with TBI is expected to propel the market growth in the forecast period.

Similarly, according to another study by the National Institute of Health published in March 2022, the overall annual incidence of Intracerebral Hemorrhage (ICH) in the United States is 23.15 per 100,000 people, and it has been observed that ICH incidence increased with age and its increasing in young and middle-aged Americans. Hence, the high burden of diseases associated with the head and brain is expected to fuel growth in the intracranial pressure monitoring market over the forecast period.

In addition, with the growing burden of neurodegenerative diseases such as dementia, Alzheimer's, Parkinson's, and others, along with the growing geriatric population who are more prone to head injuries and neurodegenerative diseases, the demand for intracranial pressure monitoring is expected to increase which is anticipated to boost growth in the intracranial pressure monitoring market. For instance, according to the September 2021 report of the World Health Organization, about 55 million people around the world were living with dementia, and nearly 10 million cases are reported every year. As per the same source, Alzheimer's is the most common form of dementia and constitutes about 60-70% of the total cases of dementia. According to the October 2021 update of the World Health Organization, the global population of people of age 60 years and more is expected to increase from 1 billion in 2020 to 2.1 billion by 2050, and these factors are collectively expected to have a significant impact on the studied market and propel the growth of the market in upcoming years.

Furthermore, technological advancements in the field of intracranial pressure monitoring are expected to propel market growth. For instance, in February 2021, in order to provide alarms to clinicians directly from its cerebral ultrasound gadget, Novasignal Corporation released a cloud-based app. The new app enables clinicians to receive immediate notifications from the Novaguide device, a transcranial Doppler ultrasound technology that combines robotics and artificial intelligence to provide real-time monitoring of blood flow in the brain (AI).

Hence, owing to the above-mentioned factors, the intracranial pressure monitoring market is expected to grow over the forecast period. However, the lack of skilled professionals and the high cost associated with intracranial pressure monitoring is expected to restrain the growth of the market over the forecast period.

Intracranial Pressure Monitoring Industry Segmentation

Intracranial pressure (ICP) monitoring is used by doctors to identify whether symptoms of high pressure in the head are being brought on by high or low cerebrospinal fluid (CSF) pressure. 

The Intracranial Pressure Monitoring Market is Segmented by Technique (Invasive and Non-invasive), Application (Traumatic Brain Injury, Intracerebral Hemorrhage, Meningitis, and Other Applications), and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.