Intracranial Pressure (ICP) Monitoring Market Valuation of US$ 210.4 Mn and Growing at a CAGR of 4.9%, Analysis 2033

Increased cases of neurological diseases and advancements in diagnostics will propel demand for ICP monitoring devices over the coming years.

NEW YORK, NEW YORK, UNITED STATES, January 9, 2023 /EINPresswire.com/ -- In a recent study done by Persistence Market Research, the global intracranial pressure (ICP) monitoring market recorded a market value of US$ 210.4 Mn in 2020. The market is further expected to expand at a CAGR of 4.9% over the forecast period of 2021-2031.

Intracranial pressure monitoring devices are used for the monitoring of increased level of intracranial pressure or the pressure of cerebrospinal fluid. Such devices are widely used in case of certain diseases such as subarachnoid hemorrhage, hydrocephalus, and malignant cerebral infarction (MCI) for providing proper treatment based on the testing.

There has been various technological advancements in recent times such as development of wireless ICP monitoring devices. Furthermore, innovation and approval for home-based ICP monitoring devices for patients suffering from hydrocephalus has been rising.

• For instance, the Raumed Home ICP device manufactured by Raumedic in 2019, also adds to the convenience of use of these products from the comfort of homes. The device allows the storing of certain activities on the handheld device, such as eating, sleeping, nausea, etc., with just the touch of a button. This provides better insights for therapy by neurosurgeons, which results in better treatment.

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Key Takeaways from Market Study
• Intracranial pressure monitoring devices used for measuring elevated intracranial pressure in the brain held more than 85% market share in 2020.
• Intraventricular route of intervention held approximately 50% of the global market share in 2020.
• Traumatic brain injury (TBI) is the most commonly seen indication for which ICP monitoring devices are used. TBI held a market share of around 37% in 2020.
• Hospitals are preferred more by patients as they use a variety of techniques to monitor ICP- clinical examination, do brain imaging, and use ICP monitors, with overall easy reimbursement procedures. Hospitals accounted for nearly one-fourth of the global market share in 2020.
• In 2020, North America dominated the ICP monitoring devices market, accounting for more than 55% of global market share.

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Market Competition
Key manufacturers of ICP monitoring devices are focusing on strategic partnerships with institutes and hospitals for the marketing of their products, getting approvals from various regulatory authorities globally, and expanding their portfolios for gaining market position.
• In October 2021, IRRAS collaborated with Aarhus University Hospital in Aarhus, Denmark, one of the world's leading medical institutions. This collaboration helped in the business of IRRAflow.
• Again, in December 2021, the company collaborated with the Lovell Government Services to sell IRRAflow and Hummingbird ICP product lines to Veterans Affairs (VA) hospitals and other U.S. government and military medical facilities.

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The global Intracranial Pressure (ICP) Monitoring Market is segmented into:

ICP Monitoring Market by Product:

ICP Monitoring
EVD
Microtransducers
Accessories
Intraventricular Catheters
Subdural Catheters
Parenchymal Catheters
Epidural Sensors
Sub Arachnoid Screws

ICP Monitoring Market by Route of Intervention:

Intraventricular ICP Monitoring
Subdural ICP Monitoring
Epidural ICP Monitoring
Parenchymal ICP Monitoring
Subarachnoid ICP Monitoring

ICP Monitoring Market by Indication:

Traumatic Brain Injury
Intracerebral Haemorrhage
Subarachnoid haemorrhage
Hydrocephalus
Malignant Cerebral Infarction (MCI)
Cerebral Edema
CNS infections
Others

ICP Monitoring Market by End User:

Hospitals
Ambulatory Surgical Centers
Trauma Centers
Neurosurgery Centers

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