According to the new market research report, “Brain Monitoring Market by Product (Accessories, MRI, CT, PET, EEG, EMG, MEG, ICP, Electrode, Paste, Gel, Battery, Cable, Invasive), Disease (TBI, Stroke, Dementia, Epilepsy, Headache, Sleep) & End User (Hospital, Clinic, ASC) – Global Forecasts to 2026″, The global brain monitoring market size is projected to reach USD 8.0 billion by 2026 from USD 5.8 billion in 2021, at a CAGR of 6.5%.
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Global Industry Growth Boosting Factors:
The brain monitoring market is mainly driven by factors such as the increasing incidence and prevalence of neurological disorders, rising awareness of neurodegenerative diseases, growth in the number of traumatic brain injuries, and growing applications of brain monitoring in clinical trials. On the other hand, the high cost of complex brain monitoring procedures and devices, unfavorable reimbursement policies, and the shortage of trained professionals to effectively operate brain monitoring devices are restraining the growth of this market.
The brain monitoring market is highly competitive, involving a large number of global and local market players. Natus Medical, Inc. (US), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (US), Siemens Healthineers (Germany), Compumedics, Ltd. (Australia), Medtronic (Ireland), Edwards Lifesciences Corporation (US), Drägerwerk AG & Co. KGaA (Germany), Advanced Brain Monitoring (US), Masimo Corporation (US), Spiegelberg GmbH & Co. KG (Germany), and Cadwell Industries (US) are some of the prominent players in the market.
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Nihon Kohden is a leading player in the brain monitoring market and exports its products to over 120 countries. In 2010, Nihon Kohden established a long-term business plan—CHANGE 2020—to focus on developing and selling technologically advanced products, increasing its global sales & services network, and improving customer satisfaction.
The company adopts expansions and product launches as its dominant strategies to increase its growth in Japan as well as international markets. Through these strategies, the company expects to reduce expenses and increase its sales volume. Nihon Kohden is focusing on enhancing its sales and services activities in the US to expand its existing product line. Also, due to the increasing cases of COVID-19, the demand for patient monitors in the European region increased, which eventually helped in driving the company’s sales in the region (especially Germany and Italy).
Natus Medical is one of the leading players in the global brain monitoring market. The company has been operating in the brain monitoring market for more than two decades. It focuses on introducing new products and supporting current product offerings through a combination of internal as well as external efforts that are consistent with its corporate strategy. The company has a keen focus on leveraging its core technologies by introducing product-line extensions as well as new product offerings. Natus Medical also seeks strategic partners in order to develop products. The company also tries to evaluate new, emerging, and complementary technologies in order to identify new product opportunities.
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