Brain Monitoring Devices Market - By Product (Devices (Electroencephalography (EEG) Devices, Magnetoencephalography (MEG) Devices, Transcranial Doppler (TCD) Devices, Intracranial Pressure (ICP) Monitors, Cerebral Oximeters, Magnetic Resonance Imaging (MRI) Devices, Computerized Tomography (CT) Devices, Positron Emission Tomography (PET) Devices, Sleep Monitoring Devices, Electromyography (EMG) Devices), Accessories (Electrodes, Sensors, Pastes & Gels, Caps, Cables, Batteries, and Others

Brain Monitoring Devices Market size is expected to reach USD 8519.089 billion by 2030 from USD 4624.455 billion in 2020, with 6.3% of CAGR during the forecast period.Brain monitoring is the process of tracking the activity of various parameters related with the brain functions. Brain monitoring is a neuro-diagnostics device used to monitor and diagnose the brain abnormalities and injuries by exploring the structure and function of the brain. These devices are used to detect neurological disorders such as Alzheimer's, Parkinson's', epilepsy, dementia, multiple sclerosis, sleep disorder, brain tumor, and others. An increase in the incidence of neurological disorders and a rise in awareness of diseases boost the demand for brain monitoring devices all across the globe. The price of devices is varying according to the product, use, and sensors technology.

Market Segmentation:

On the basis of product type, the brain monitoring devices market is categorized into devices and accessories. Devices are further segmented into MEG, EEG, TCD, MRI, CT, PET, ICP, EMG, and cerebral oximeters. Accessories are classified into electrodes, pastes and gels sensors, caps, cables, batteries, and others. Based on the procedure, the brain monitoring devices market is bifurcated into invasive and non-invasive procedures. On the basis of application, the market is classified into the stroke, headache, dementia, epilepsy, and TBI (Traumatic brain injury). Based on the geographical regions, the brain monitoring devices market is divided into North America, Europe, Asia-Pacific, and RoW.

Market Dynamics and Factors:

The global brain monitoring devices market has an exceptional growth in the past years. The increase in the geriatric population and the rise in the prevalence of chronic diseases is a major reason for market growth. For instance, patients suffering from Parkinson's' disease need regular checkups due to lack of treatment, the demand for brain monitoring devices driven the market. In addition, advanced technology in healthcare is another factor expected to boost market growth during the forecast period. On the other hand, stringent government regulations and unfavorable reimbursement policies are restricting market growth during the forecast period. Contrarily, untapped markets in the developing countries are expected to offer remunerative opportunities for the brain monitoring devices market players in the near future.

Geographic Analysis:

North America is dominating the global brain monitoring devices market. It is expected to reach 11.6 Billion by 2026 from USD 8.7 billion in 2019, with a CAGR of 6.1%. Due to the increasing incidence and prevalence of neurological disorders, and technological advancements in the healthcare sector, the presence of leading manufactures. Asia Pacific is projected to be the fastest-growing region in the forecast period. APAC is driven by the availability of low-cost labor and skilled manpower, growing geriatric population, rising prevalence of neuro disorders, and increasing government regulation on healthcare reforms in the region. As well as, shortage of trained professionals to operate brain monitoring devices, high cost associated with complex brain monitoring devices, and concerns regarding the accuracy of diagnostic devices are some of the factors which hamper the brain monitoring devices market growth.

Competitive Scenario:

Major players operating the global brain monitoring devices industry are  Nihon Kohden Corporation, Philips Healthcare, Medtronic plc., GE Healthcare, Siemens Healthcare, Natus Medical Incorporated, Compumedics Limited, Electrical Geodesics, Inc., CAS Medical Systems Inc., Advanced Brain Monitoring, B. Braun Medical, Becton, Dickinson & Company, DePuy Synthes Companies, Cadwell Industries, Inc., Masimo Corporation, Elekta AB (pub), Integra LifeSciences Corporation, Rimed Inc., Yokogawa Electric Corporation, EMOTIV Inc., and Neural Analytics.

Brain Monitoring Devices Market Report Scope