Market Trends of Intracranial Pressure Monitoring Industry
This section covers the major market trends shaping the Intracranial Pressure Monitoring Market according to our research experts:
Traumatic Brain Injury Segment by Application is Expected to Have a Significant Market Share Over the Forecast Period
Traumatic brain injury (TBI) is a disruption in the normal operation of the brain that can be caused due to several factors, such as a blow, bump, or jolt to the head, the head violently slamming against something, or when an object pierces the skull and penetrates the brain tissue.
According to the Centers for Disease Control and Prevention's (CDC) March 2022 updated figures, there were roughly 64,000 TBI-related fatalities in the United States in 2021; as per the same source, falls are one of the main causes of traumatic brain injuries. According to the research study by DiVA Journal published in April 2021, TBI accounted for 11-22% of all head injuries and up to 61% of severe cases in both countries, and there was an incidence of 9 per 100,000 in Sweden and 117 per 100,000 in Germany during 2021. Hence, the high prevalence of TBI is expected to propel the segment's growth.
According to a study from the National Institute of Health published in June 2022, intracranial pressure was most frequently brought on by traumatic brain injuries, which commonly result from car accidents, violent acts, sports injuries, explosions, and other types of combat traumas, and thus, the high burden of road accidents in developing and under-developing countries are further expected to have a significant impact on the growth of TBI segment. Therefore, due to the above-mentioned factors, the traumatic brain injury segment is expected to have a significant share of the studied market over the forecast period.
North American Region Expected to Occupy Major Share in the Market Over the Forecast Period
The North American region is expected to occupy a significant market share in the intracranial pressure monitoring market over the forecast period owing to the presence of a high burden of head and brain injury/diseases, robust healthcare infrastructure, and the presence of some of the key players of the market in the region.
In the North American region, the United States is expected to be a major market owing to a high prevalence of diseases demanding intracranial pressure monitoring, the launch of new products, and the presence of an esteemed healthcare system in the country. For instance, according to the research study from the American Heart Association 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.
According to the March 2021 report of the Alzheimer's Association, approximately 6.2 million people of age 65 years and more were living with Alzheimer's-related dementia in the United States, and it is projected that this number will increase to 13.8 million people by 2060. Moreover, as per the same source, Alzheimer's- and dementia-related deaths in the United States increased by 16% during the COVID-19 pandemic. Hence, the high prevalence of diseases is expected to have a significant impact on the market.
Additionally, the technological advancement in the devices used in monitoring intracranial pressure is further expected to boost market growth. For instance, in November 2021, FUJIFILM Healthcare Americas Corporation launched its advanced, high-field open MRI system called Velocity MRI System during the 2021 Radiological Society of North America (RSNA) event. Therefore, due to the above-mentioned factors, the North American region is expected to have a significant share in the intracranial pressure monitoring market during the forecast period.
