Intracranial Pressure Monitoring Devices Market Worth $2.9 Billion By 2030

The global intracranial pressure monitoring devices market size was valued at USD 1.46 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.9% from 2022 to 2030.

The global Intracranial Pressure Monitoring Devices Market size is anticipated to reach USD 2.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.9% from 2022 to 2030. The primary driving factors for market growth are increasing adoption of minimally invasive surgeries, high demand in trauma care, and technological advancements. The COVID-19 pandemic is expected to have a short-term and moderate impact on the market. According to a research study  “COVID-19 and stroke: A review” published in Elsevier journal (International Hemorrhagic Stroke Association) (Jan 2021), up to 36% of hospitalized COVID-19 patients might exhibit neurological symptoms and there were several cases related to ischemic and hemorrhagic infarction.

In addition, according to this study, 606 adults affected with COVID-19 were detected with brain or other nerve-related medical problems at some stage during their illness. Thus, these factors are expected to create lucrative opportunities for the market to grow in the near future. Over the forecast period, technological advancements are expected to be a crucial driver in the growth of the market. For example, in April 2019, at the American Association of Neurological Surgeons 2019 in California, Integra LifeSciences Corporation unveiled its newest Codman Specialty surgical solutions. Certas Plus Portfolio Expansion, CereLink Intracranial Pressure (ICP) Monitoring System, Integra Duo LED Surgical Headlight, and CUSA Clarity Tough Tissue Technology were the products on display.

Related Press Release@ Intracranial Pressure Monitoring Devices Market Report

Intracranial Pressure Monitoring Devices Market Report Highlights

• By technique, the invasive segment held the largest share of 80.9% in 2021. High accuracy of devices and technological advancements are expected to drive segment growth
• Based on the application, the traumatic brain injury segment held the largest revenue share of 31.6% in 2021. The growing occurrence of TBIs around the world, which has resulted in a high need for care of these cases, necessitates the extensive use of ICP monitoring devices; this is a primary factor responsible for the substantial proportion of this market segment
• In Asia Pacific, the market for intracranial pressure monitoring devices is expected to witness a CAGR of 7.7% over the forecast period. Various factors are responsible for the region's growth, such as the increasing geriatric population, growing healthcare infrastructure development, as well as the presence of such a huge patient base in this region