Intracranial pressure monitoring devices market to grow by USD 568.32M

The global intracranial pressure monitoring devices market size is estimated to grow by USD 568.32 million from 2023 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6.5%. North America will account for 44% of the market growth during the forecast period. The US and Canada contribute significantly to the revenue of the regional market. The US has major global vendors, which is driving market growth. Boston Neurosciences, Branchpoint Technologies, Integra LifeSciences, and Natus Medical are some of the major vendors in North America. These vendors offer a wide range of products, which will drive the growth of the market in the region during the forecast period.

Intracranial pressure monitoring devices market – Segmentation assessment
Segment overview
Technavio has segmented the market based on product (invasive and non-invasive), application (traumatic brain injury, intracerebral hemorrhage, and others), and geography (North America, Europe, Asia, and Rest of World (ROW)).

• The invasive segment will account for a significant share of market growth during the forecast period. Invasive intracranial pressure (ICP) monitoring is performed by drilling a hole in the skull and inserting a catheter into the brain tissue or the ventricle. Intraventricular catheterization is considered the most accurate. An intraventricular catheter is used to monitor and intermittently extract excess CSF. The growth of this segment is attributed to factors such as the wide range of products offered by vendors in this category. Advances in technology have further expanded the use of invasive ICP monitors in combination with other medical devices. All these developments have led to the growth of the invasive segment.

Intracranial pressure monitoring devices market – Market dynamics
Key factor driving market growth

• The growing applications of intracranial pressure (ICP) monitoring devices are driving market growth.
• Changes in intracranial pressure can cause life-threatening diseases such as brain tumors and strokes.
• For instance, according to the Centers for Disease Control and Prevention (CDC), about 795,000 people in the US are affected by stroke every year.
• Similarly, according to the NHS, more than 9,000 people in the UK are diagnosed with brain tumors every year.
• Therefore, with the increasing application of ICP monitoring and the rise in stroke and brain tumors, the use of ICP monitors is increasing.
• These factors will fuel the growth of the market during the forecast period.

Leading trends influencing the market 

• The rising advances in technology are a key trend influencing in the market.
• Vendors are developing innovative technologies. For example, Branchpoint Technologies offers AURA system for monitoring intracranial pressure.
• Another development is continuous telemetry monitoring of parenchymal intracranial pressure, which includes continuous intracranial pressure (ICP) waveform.
• Such technological advances help doctors monitor patients remotely.
• Therefore, the presence of such advanced products will boost the sales of ICP monitors worldwide.
• These factors will support market growth during the forecast period.

Major challenges hindering the market growth

• The complications associated with ICP monitoring devices are challenging market growth.
• Some of these complications include bleeding, brain herniation, damage to brain tissue, postoperative wound infections, and the risks associated with the use of anesthetics.
• Monitoring of intracranial pressure can also be done with an external ventricular drainage (EVD) device, wherein a catheter is surgically inserted into the ventricle. However, this technique is not suitable for patients with small ventricles or swollen brains.
• Moreover, long-term use of EVD can lead to intracranial infections.
• These complications can cause abnormalities and illnesses in affected individuals.
• Therefore, complications associated with ICP monitoring devices will challenge market growth during the forecast period.

Technavio