Overview:
The Brain Monitoring Market is escalating mainly due to growing geriatric population. As per
the recent report published by the Market Research Future, the brain monitoring market is
booming and expected to gain prominence over the forecast period. The market is forecast
to demonstrate a spectacular growth by the year 2022, surpassing its previous growth
records in terms of value with a striking CAGR during the forecast period (2017 – 2022).
Brain monitoring is defined as the process of studying and reporting the brain functioning.
Brain monitoring devices are used in case of various diseases such as epilepsy, headache
disorders, dementia, Parkinson’s disease, strokes, sleep disorders, traumatic brain injuries,
Huntington’s disease, and others. According to the data suggested by World Health
Organization (WHO), nearly 50 million individuals worldwide have epilepsy, making it one of
the most common neurological disorder globally. It is also stated that about three fourths of
people with epilepsy are living in low- and middle- income countries, and do not get proper
treatment.
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Notably, rising prevalence of neurological disorders is the primary factor driving the brain
monitoring market. Neurological disorders are on rise worldwide. On considering a 2014
study published in the Neurology India journal, it is found that out of total population of
India, around 30 million individuals were suffering from neurological disorders in India.
Other push factors such as, increasing aging population, technological advancements, rising
prevalence of lifestyle associated diseases, escalating adoption rate of remote monitoring
devices, increasing healthcare expenditure, growing preference towards minimally invasive
treatments, and favourable amendments in reimbursement policies, and growing health
insurance are also fuelling the growth of the market. The increase in aging population
worldwide has direct impact on the market. As older adults are more vulnerable towards
various neurological health issues. As per the 2016 statistics suggested by the WHO, it is
found that neuropsychiatric disorders account for nearly 6.6% among the older adults.
Despite these drivers, high cost of monitoring devices, lack of awareness among people,
lack of skilled physicians, complications associated with the devices are expected to hinder
the growth of the market.
Major Key Players of Global Brain Monitoring:
• Philips Healthcare
• Medtronic plc
• Natus Medical Inc.
• Nihon Kohden Corporation
• Siemens Healthineers
• GE Healthcare
• Compumedics Ltd.
• Electrical Geodesics Incorporated
• CAS Medical Systems, Inc.
• Advanced Brain Monitoring
Competitive Analysis:
The brain monitoring market is currently dominated by various players. Due to rising
prevalence of neurological conditions, and increasing demand various existing and new
marketers are consistently coming up with technologically advanced products to control this
condition. The brain monitoring market is dominated by numerous players.
GE Healthcare is one of them by holding a prominent share in the market. The company is a
global leader that develops, and manufactures multiple brain monitoring devices. The prime
emphasis of the company is on the production of innovative products. The product portfolio
of GE Healthcare includes MAC 2000 Resting ECG System, SEER 12 Digital Holter ECG
Recorder, MAC 800, and others.