Intracranial Pressure Monitoring Devices Market Challenges And Growth
Intracranial pressure is the pressure inside the skull that might increase due to rise in pressure of cerebrospinal fluid or it may be due to rise in pressure within the brain. Intracranial pressure might arise due to a brain tumor, fluid around the brain or bleeding into the brain, or swelling within the brain. Increased intracranial pressure can be observed in hepatic encephalopathy, head trauma, hydrocephalus, and cerebral edema. Elevated intracranial pressure can lead to death in neurosurgical patients or it may cause cerebral ischemia. To avoid this circumstance, rapid recognition and monitoring of elevated intracranial pressure is important. Elevated intracranial pressure can be measured, either clinically or quantitatively.
Growing population with the neurological disorders globally is certainly driving the intracranial pressure monitoring devices market
A Number of neurological disorders and traumatic accidents are increasing day by day. According to the United Nations data of 2007, around 1 billion people, that is, 1 in every 6 of the world’s population suffered from neurological disorders, epilepsy, Alzheimer’s, strokes, multiple sclerosis and migraines.. The increasing number of population with neurological disorders is the major factor that is driving the intracranial pressure monitoring devices market. Additionally, According to Centers for Disease Control and Prevention, around 2.5 million cases of traumatic accidents are registered in U.S. that lead to brain infection, meningitis, and aneurysm globally, results in the requirement of intracranial pressure monitoring and hence propels the growth of intracranial pressure monitoring devices. A Large amount of funds have been invested by the government for the improvement of the healthcare sector, expected to boost the intracranial pressure monitoring devices market.
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However, the high cost of this monitoring devices and lack of skilled professionals for handling the devices are the factors which restraints the growth of intracranial pressure monitoring devices market. Intracranial pressure monitoring devices which are mostly used today are with certain limitations hence the development and validation of intracranial pressure monitors that would measure absolute intracranial pressure is expected to create the opportunity in intracranial pressure monitoring market.
Rising awareness about neurodegenerative diseases is expected to propel the growth of intracranial pressure monitoring devices market
Regional segmentation of intracranial pressure monitoring devices market by Coherent Market Insights comprises of North America, Latin America, Europe, Africa, Asia Pacific, and The Middle East. According to Centers for Disease Control and Prevention (CDC) in U.S, there are around 2 to 3 million Traumatic Brain Injury (TBI) cases registered every year, that eventually lead to the more usage of intracranial pressure monitors in North America. Hence the rising number of patients with such diseases and increase in the usage of intracranial pressure monitoring devices are the factors that leads to domination of North America in intracranial pressure monitoring devices market. Rising government initiatives to generate the awareness about the neurodegenerative disorders also propelling the growth of intracranial pressure monitoring devices market.
Mergers & acquisitions are helping the industry players to obtain the maximum share in intracranial pressure monitoring devices market
Key players operating the intracranial pressure monitoring devices market includes Codman & Shurtleff Incorporated, Sophysa, Gaeltec Devices Limited, Integra Lifesciences Co., Raumedic AG, VITTAMED, Orsan Medical Technologies, Haiying Medical, and others. The industry players had adopted the strategy of mergers and acquisitions, and partnership to hold the largest share in the intracranial pressure monitoring devices market.
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