Brain Monitoring Market

The global brain monitoring market in terms of revenue was estimated to be worth $3.5 billion in 2023 and is poised to reach $4.8 billion by 2028, growing at a CAGR of 6.3% from 2023 to 2028. The new research study consists of an industry trend analysis of the market. The new research study consists of industry trends, pricing analysis, patent analysis, conference and webinar materials, key stakeholders, and buying behaviour in the market. The propulsion of the brain monitoring market primarily stems from the escalating occurrence and prevalence of neurological disorders, heightened awareness surrounding neurodegenerative diseases, a surge in traumatic brain injuries, and the expanded utilization of brain monitoring in clinical trials. Additionally, the increasing need for non-invasive and minimally invasive devices, the broadening therapeutic applications of brain monitoring tools, and the expanding healthcare sector in emerging economies are anticipated to offer growth opportunities for market players.

Global Brain Monitoring Market Trend

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Global Brain Monitoring Market Dynamics

Driver: Increasing incidence and prevalence of neurological disorders

The prevalence of various neurological disorders, encompassing dementia, epilepsy, Parkinson’s disease, Huntington’s disease, headache disorders, multiple sclerosis, neuroinfections, stroke, and cerebral palsy, has notably surged worldwide. Brain disorders, a compilation of developmental, psychiatric, and neurodegenerative ailments, are increasingly contributing to global morbidity rates. This escalation is primarily linked to the expanding elderly population, with projections indicating that over 20% of the global populace will be above 65 by 2050. Forecasts from the American Medical Association (AMA) suggest that by 2030, approximately 60% of individuals in this age bracket will contend with multiple chronic conditions.

The growing incidence of these neurological disorders underscores the critical need for monitoring brain and neurological functionalities. Many of these disorders are progressive and exhibit a heightened risk associated with aging. Furthermore, the rise in the prevalence of other ailments, such as sickle-cell diseases and cardiac disorders, contributes to this trend. Cardiac procedures, at times, impact normal brain functions, further accentuating the demand for brain monitoring devices.

Restraint: Research High cost of complex brain monitoring procedures and devices

The significant expense associated with brain monitoring surgeries and devices serves as a primary obstacle restraining the global brain monitoring market, particularly in developing nations with inadequate reimbursement policies. These devices are intricate, and their procedures typically incur substantial costs. For instance, a standard EEG averages around USD 200–700, with extended monitoring potentially reaching up to USD 3,000. Similarly, a dual-channel TCD costs approximately USD 3,000–3,200, while an ICP monitor ranges from USD 340–500. Furthermore, a single MEG system can cost about USD 2.5–3 million, posing a challenge for healthcare facilities to procure these devices, even in countries embracing advanced medical technology.

The high initial price, maintenance, and other indirect expenses significantly elevate these devices' overall ownership cost, limiting their widespread adoption. Budgetary constraints mainly affect small hospitals and independent Ambulatory Surgery Centers (ASCs), especially in developing nations, deterring their investment in costly, sophisticated technologies. Consequently, due to the prohibitive expense of these procedures and inadequate reimbursement conditions, only a small subset of patients in developing nations can afford neurological treatments. This financial constraint makes healthcare facilities hesitate to adopt new or technologically advanced systems, ultimately constraining the growth of the brain monitoring market.

Opportunity: The increasing demand for non-invasive and minimally invasive devices

Invasive monitoring procedures are intricate, uncomfortable, and carry inherent risks due to direct interaction with delicate brain tissue. Consequently, healthcare professionals and patients strongly prefer non-invasive or minimally invasive brain monitoring devices. The surge in demand for non-invasive alternatives such as ICP monitors, TCD devices, tympanic membrane displacement procedures, optic nerve sheath diameter assessments, CT scans/MRIs, and fundoscopy is attributed to their advantages over invasive methods. This heightened demand is compelling market players to focus on developing and commercializing such products.

Various government initiatives concentrate on fostering innovation in medical devices, notably exemplified by the BRAIN initiative introduced in the US in April 2013. This initiative aims to stimulate research and development in understanding brain function. Furthermore, the Advanced Research Projects Activity (IARPA) collaborates with the BRAIN initiative, explicitly targeting the creation of non-invasive neural intervention devices to enhance cognitive abilities in reasoning and problem-solving.

Challenge: Shortage of trained professional

Trained medical personnel are required to operate devices involved in the complex process of brain monitoring effectively. Positioning electrodes on the scalp and inserting muscular needles require accuracy and must be performed only by highly trained personnel. In addition, the results generated by brain monitoring machines are complex and can only be interpreted by qualified technicians or skilled professionals. These fundamental skills are necessary for end users to maximize the utility of their brain monitoring equipment. The presence of highly trained medical personnel and staff is, therefore, vital for effectively using brain monitoring equipment.

Global Brain Monitoring Market Ecosystem

The devices segment accounted for the largest share of the brain monitoring industry

By product, the global brain monitoring market is categorized into devices and accessories. The devices segment held the largest share of the brain monitoring market in 2022. Mainly due to the rising prevalence of neurological, neurodegenerative, psychotic, and sleep disorders, it is coupled with the imperative for early detection, the availability of innovative portable and wearable monitoring devices tailored for home application, and an increasing awareness among patients.

Fixed devices accounted for the largest share of the modality segment of the brain monitoring industry

By modality, the global brain monitoring market is categorized into fixed, portable, and wearable. The fixed devices held the largest share of the brain monitoring market in 2022. Their established utilization in clinical environments like hospitals, specialized healthcare facilities, and research institutions is the reason behind their presence. These fixed devices are frequently regarded as the benchmark for comprehensive brain monitoring due to their precision, dependability, and advanced features.

The traumatic brain injury segment accounted for the largest share of the brain monitoring industry in 2022.

Based on medical condition, the brain monitoring market is segmented into traumatic brain injury (TBI), stroke, dementia, headache disorders, sleep disorders, Parkinson’s disease, epilepsy, Huntington’s disease, and other diseases. Traumatic brain injury (TBI) holds the largest share of the brain monitoring market by a medical condition. A key factor significantly boosting the market share of this segment is the notable rise in Traumatic Brain Injuries (TBIs) on a global scale. This upsurge in TBIs generates a considerable demand for handling such cases, leading to the widespread use of brain monitoring devices.

Hospitals accounted for the largest share of the end user segment of the brain monitoring industry

Based on end-users, the global brain monitoring devices market is segmented into hospitals, neurology centers, diagnostic centers, ASCs & clinics, and other end users. The hospital segment held the largest share of the global brain monitoring market in 2022. Brain monitoring requires complex procedures involving expensive and advanced devices primarily found in hospitals. Hospitals manage significantly higher patient volumes than smaller clinics and other end users. Additionally, the maintenance costs related to brain monitoring devices impose a considerable burden on healthcare facilities, with hospitals being better equipped to handle these expenses. Consequently, hospitals primarily use brain monitoring devices, contributing to their prevalence and larger market share within this segment.

North America accounted for the largest share of the global brain monitoring industry in 2022.

The brain monitoring market, by region, is segmented into North America, Europe, APAC, Latin America, and Middle East & Africa. North America accounted for the largest share of the brain monitoring market in 2022. This can be attributed to the growing incidence of neurological diseases, an increasing number of clinical trials of brain monitoring products, and the availability of medical reimbursement in the US.

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The global Brain Monitoring market is dominated by a few globally established players such as Medtronic (Ireland), Luciole Medical AG (Switzerland), Drägerwerk AG & Co. KGaA (Germany), Compumedics, Ltd. (Australia), Nonin Medical, Inc. (US), Integra LifeSciences Corporation (US), Advanced Brain Monitoring (US), Masimo Corporation (US), Unilabs holdings AB (Sweden), Cadwell Industries (US), NeuroWave Systems, Inc. (US), Natus Medical, Inc. (US), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (US), Siemens Healthineers (Germany), and Neurosoft (Russia).

Scope of the Brain Monitoring Industry

The study categorizes the Brain Monitoring market to forecast revenue and analyze trends in each of the following submarkets:

By Product

• Devices
  • By Type
    • Magnetic Resonance Imaging (MRI) Scanners
    • Computerized Tomography (CT) Scanners
    • Electroencephalograph (EEG) Devices
    • Positron Emission Tomography (PET) Scanners
    • Sleep Monitoring Devices
    • Cerebral Oximeters
    • Electromyography (EMG) Devices
    • Intracranial Pressure (ICP) Monitors
    • Magnetoencephalography (MEG) Devices
    • Transcranial Doppler (TCD) Devices
  • Accessories
    • Electrodes
      • Wet Electrodes
      • Dry Electrodes
      • Needle Electrodes
    • Sensors
    • Pastes & Gels
    • Caps
    • Cables
    • Batteries
    • Other Accessories
  • By Usability
    • Disposable
    • Reusable

By Procedure

• Devices for Invasive Procedures
• Devices for Non-invasive Procedures

By Modality

• Fixed
• Portable
• Wearable

By Medical Condition

• Traumatic Brain Injury (TBI)
• Stroke
• Dementia
• Headache Disorders
• Sleep Disorders
• Parkinson’s Disease
• Epilepsy
• Huntington's Disease
• Other Medical Conditions

By End User

• Hospitals
• Neurology Centers
• Ambulatory Surgery Centers (ASCs) & Clinics
• Diagnostic Centers
• Other End Users

By Region

• North America
  • US
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC Countries

Recent Developments of Brain Monitoring Industry

• In December 2023, Nihon Kohden introduced the One View feature in its Neuromaster G1 intraoperative neuromonitoring (IONM) system. This solution integrates the patient's anesthesia and vital signs, including heart rate, SpO2, temperature, and more, with neurological data embedded within the IONM software.
• In October 2022, Medtronic is taking bold new steps to change that by launching the Medtronic Neurovascular Co-lab, an innovation process and platform for new ideas in treating stroke care.
• In May 2021,  Medtronic and Viz.ai announced they are extending their successful US partnership to distribute Viz.ai’s “lifesaving” artificial intelligence (AI) software platform for stroke to Europe, the Middle East, and Africa (EMEA). The AI platform has been proven to synchronize stroke care, decrease treatment time, and improve patient outcomes.

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