Global Brain Monitoring Devices Market: Overview
The National Institute of Mental Health in the US states that every 1 in 4 adults suffers from a brain disorder every year. It further asserts that at least 6% suffer from serious disabilities due to severe brain damage. This alarming statistic goes to show the dire need for brain monitoring devices in the global healthcare industry today. Research shows that brain monitoring devices will be in significant demand in critical care units due to a high incidence of accidents pertaining to brain trauma and injuries in recent past. The market offers a wide range of devices to treat the abnormal brain activities and restore its functioning, depending on the case.
The global brain monitoring market has been analyzed by researchers at Transparency Market Research using foolproof research methodologies. The document has been collaborated using information from various journals, interviews, whitepapers, conferences, and magazines. The report also includes an assessment of the competitive landscape present in the global brain monitoring devices market. It offers a thorough understanding of the overall market dynamics and maps a plausible trajectory for the market.
Global Brain Monitoring Devices Market: Drivers and Trends
The high incidence of neurological disorders in recent years due to changing lifestyles, rising stress levels, and radical changes in the social environments have cumulatively augmented the demand for brain monitoring devices market. Today, these devices are used for understanding the conditions of patients suffering from Alzheimer’s disease, epilepsy, multiple sclerosis, and brain tumors amongst others. Thus, the increasing number of patients suffering from these conditions are expected to serve as a strong market driver for the global brain monitoring devices market.
The various brain monitoring devices available in the global market are intracranial pressure monitors, magnetoencephalography, electroencephalograph, cerebral oximeters, and transcranial doppler. These devices track brain function such as the velocity of blood flow in the veins and arteries in case of epilepsy, pressure surrounding the brain, electrical and neural activity, brain death, and traumatic brain injury. The market is also growing due to the rising number of post-surgical cerebrovascular accidents. These incidences have led to an augmented demand for automated brain monitoring devices in clinics and hospitals to understand the impact of anesthesia and sedatives.
Analysts note that the improvement in functionality of these devices, their user-friendliness, and affordability along with technological advancements will encourage the growth of the global market in the coming years.
Global Brain Monitoring Devices Market: Geographical Outlook
On the basis of region, the global brain monitoring devices market is segmented into Asia Pacific, North America, Europe, and Rest of the World. Analysts predict that North America is expected to lead the global market as the region has a strong healthcare infrastructure. The high adoption of technology and high penetration of mobile device have given this market an edge over other regions. The brain monitoring devices market in North America is also being encouraged by the supportive regulatory framework and affordable healthcare plans. The significant rise in the geriatric population has also made its contribution to the rise of the brain monitoring devices market in North America. Research indicates that rising patient awareness about benefits of brain monitoring devices to treat disorders such as sleep apnea, Alzheimer’s disease, and epilepsy amongst others will also propel the regional market.
Key Players Mentioned in the Report
Some of the leading players operating in the global brain monitoring devices market are Advanced Brain Monitoring, Inc., Covidien PLC, Natus Medical, Inc., and Nihon Kohden Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.