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The intracranial pressure monitoring devices market comprises products that aid medical professionals in monitoring and managing elevated intracranial pressure during different neurological conditions and procedures. These devices include ventricular catheters, cranial bolts, intraparenchymal transducers, and subarachnoid screw transducers. They detect pressure changes within the ventricles of the brain or in the subarachnoid space surrounding the brain and provide key insights related to the treatment progression. Rising incidence of traumatic brain injuries and neurological disorders together with advances in device technology are factors facilitating the market growth.
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 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, and Orsan Medical Technologies.
The growing prevalence of neurological disorders such as dementia, stroke, and traumatic brain injuries is a major factor augmenting the demand for intracranial pressure monitoring devices. As per estimates, about 72 million people globally have Alzheimer’s dementia and head injuries affect approximately 69 million people annually.
The market is witnessing increasing globalization with companies launching new devices and expanding their regional presence across Asia Pacific, Europe, Latin America, and Middle East & Africa regions. Growing medical infrastructure and healthcare expenditure in developing nations provide considerable growth prospects.
Market Key Trends
One of the key trends observed in the intracranial pressure monitoring devices market is the move towards new minimally invasive monitoring techniques. Novel optical, microfabrication, and biosensor-based technologies are paving the way for less-invasive ICP monitoring tools that eliminate risks associated with traditional devices requiring craniotomy or burr holes. For instance, devices utilizing fiber optic or microchip sensors inserted through small catheters are gaining traction. Such innovations aim to promote better patient outcomes, recovery, and comfort levels.
Porter’s Analysis
Threat of new entrants: High capital requirements and economies of scale in production and distribution create barriers for new companies.
Bargaining power of buyers: Buyers have low bargaining power as there are many established players offering similar products.
Bargaining power of suppliers: Suppliers have moderate bargaining power as raw materials and components require technical expertise and companies have many suppliers to choose from.
Threat of new substitutes: Threat of substitutes is low as there are limited alternatives that can provide similar real-time monitoring of intracranial pressure.
Competitive rivalry: The market is dominated by few major players and characterized by high competition based on product quality, reliability, technological innovations and services.
Geographical Regions
North America accounts for the largest share of the intracranial pressure monitoring devices market, in terms of value, followed by Europe. This is attributed to the rising number of traumatic brain injury cases, increasing incidence of neurological disorders, developed healthcare infrastructure and high awareness.
Asia Pacific region is expected to grow at the fastest rate during the forecast period, owing to the rapidly increasing geriatric population, improving healthcare infrastructure, growing investment and initiatives by key market players. Rising medical tourism and economic stability also contributes to the growth of the intracranial pressure monitoring devices market in the region.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
