Intracranial Pressure Monitoring Devices Market is Anticipated to Witness High Growth Owing to Rising Incidences of Traumatic Brain Injuries

The intracranial pressure monitoring devices market comprises devices used for monitoring brain pressure in patients during and after brain surgeries or traumatic brain injuries. Intracranial pressure monitoring devices help physicians in gaining insights into pressure changes inside the skull. Some key products in the market include external ventricular drains, microtransducer ICP monitors, and lumbar drainage systems. Accurate monitoring of intracranial pressure is crucial for the management of various neurological disorders. The rising incidence of traumatic brain injuries from road accidents, sports injuries, and falls has significantly driven the demand for intracranial pressure monitoring devices.

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 of 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. Codman & Shurtleff Incorporated is a leading player with a wide portfolio of ICP monitoring devices including intraventricular catheters and subdural monitors. Sophysa offers fiber-optic ICP monitoring systems and external ventricular drainage products.

The rising prevalence of traumatic brain injuries and brain edema represents a major growth opportunity for players in the market. According to the Brain Trauma Foundation, over 2.8 million cases of traumatic brain injuries occur annually in the United States alone. This in turn is expected to drive increased demand for intracranial pressure monitoring solutions over the forecast period. Geographically, North America dominated the intracranial pressure monitoring devices market in 2021. However, Asia Pacific is anticipated to witness the highest growth during the forecast period supported by rapidly developing healthcare systems in countries such as China and India.

Market Drivers
One of the major drivers for intracranial pressure monitoring devices market is rising geriatric population. As the geriatric population over 65 years of age grows, so does the risk of Alzheimer's disease and dementia which can lead to a rise in cases of elevated ICP requiring monitoring. Geriatric population is more prone to neurological disorders like intracerebral hemorrhage, brain tumors, and traumatic brain injury which necessitates intracranial pressure monitoring. The increasing elderly population globally will therefore significantly drive the demand for these devices over the next decade.

Market Restrains
High costs associated with intracranial pressure monitoring procedures pose a major challenge to market growth. Devices themselves have a high price tag, and additional costs are incurred from consumables usage and maintenance. Low affordability in developing regions limits adoptability. Lack of adequate healthcare infrastructure and skilled neurosurgeons in various low and middle-income countries also hinders market access. Unfavorable reimbursement policies further discourage widespread adoption of intracranial pressure monitoring techniques in such areas. These factors restrain the global expansion of the intracranial pressure monitoring devices market.

Segment Analysis
Intracranial pressure monitoring devices market is dominated by invasive intracranial pressure monitors owing to its higher accuracy, reliability in monitoring intracranial pressure conditions and its ability to instantly detect changes. The invasive intracranial pressure monitors require surgical procedure for implantation but provides precise monitoring. Non-invasive intracranial pressure devices segment is projected to witness highest growth due to its advantages of being non-invasive and risk-free, thus preferred among patients.

Global Analysis
North America dominates intracranial pressure monitoring devices market with highest adoption owing to rising incidence of traumatic brain injuries, technological advancements, and growing awareness. Asia Pacific region is fastest emerging market due to increasing healthcare expenditure, rising geriatric population suffering from neurological disorders, and growing medical tourism. Developing regions such as India and China offer lucrative opportunities for market players due to improving healthcare infrastructure and rising expenditure on neurosurgical procedures.