ICP Monitoring Devices Market: Introduction

  • ICP monitoring devices, or intracranial pressure (ICP) monitoring devices, are placed inside the head to monitor the pressure inside the skull and transmit measurements or data to a recording device
  • These devices aid in measuring the pressure within the brain and cranium caused by trauma. ICP Monitoring is considered to be a significant post-operative and diagnostic procedure for patients who have undergone neurosurgery or have suffered cranial injury.
  • The types of monitoring methods are invasive and non-invasive. The invasive method is a method primarily employed by various ICP monitors. However, non-invasive methods are not engaged in the measurement of absolute ICP.

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Key Drivers and Restraints of Global ICP Monitoring Devices Market

  • Expansion of the ICP monitoring devices market can be attributed to a rise in the prevalence of neurological disorders and traumatic accidents. Moreover, a rise in the number of people suffering from aneurysm, brain infection, and meningitis among the population further boosts the ICP monitoring devices market. According to the CDC, traumatic brain injury accounted for over 3 million emergency department visits, hospitalizations, and deaths in the U.S., in 2018.
  • Significant investments from the governments globally to enhance patient safety, patient-centered care, and efficacy fuel the market. Additionally, increase in geriatric population and foreign investments is anticipated to propel the ICP monitoring devices market in developing countries.
  • Advanced ICP monitoring devices help eliminate the limitations associated with earlier devices, which contributes to a shift in baseline pressure, de-bubbling, and levelling associated with fluid-filled systems

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North America to Lead Global ICP Monitoring Devices Market

  • In terms of region, the global ICP monitoring devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • North America dominated the global ICP monitoring devices market in 2019, owing to high rate of adoption of advanced ICP monitoring devices, well-established healthcare infrastructure, rise in prevalence of neurological diseases, and increase in number of people living with disability related to traumatic brain injury
  • Europe was the second-largest market for ICP monitoring devices in 2019. The market in Asia Pacific is projected to expand at a rapid pace, followed by Latin America and Middle East & Africa. Rise in focus of governments of countries in Asia on enhancing healthcare facilities, increase in focus of market players on Asia Pacific to leverage growth opportunities, and rise in the patient pool further propel the global ICP monitoring devices market.

Key Players Operating in Global ICP Monitoring Devices Market

The market players are focused on expanding their presence in the ICP monitoring devices market mainly by adopting the inorganic growth strategy. Leading players in the global ICP monitoring devices market are:

  • Medtronic
  • Integra LifeSciences Holding Corporation
  • Codman & Shurtleff, Inc.
  • RAUMEDIC AG
  • Vittamed
  • Sophysa Ltd.
  • Orsan Medical Technologies
  • Spiegelberg GmbH & Co. KG.

Global ICP Monitoring Devices Market: Research Scope

Global ICP Monitoring Devices Market, by Technique

  • Invasive
    • Microtransducer ICP Monitoring
    • External Ventricular Drainage (EVD)
  • Non-invasive
    • Optic Nerve Sheath Diameter
    • Transcranial Doppler Ultrasonography
    • Tympanic Membrane Displacement (TMD)
    • Others

Global ICP Monitoring Devices Market, by Application

  • Meningitis
  • Traumatic Brain Injury
  • Intracerebral Hemorrhage
  • Others

Global ICP Monitoring Devices Market, by End-user

  • Hospitals
  • Ambulatory Surgical Centers
  • Others

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
  • Europe
  • 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.

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