According to Report, the global neurology patient monitoring market size was estimated at USD 4.5 billion in 2020 and is expected to surpass around USD 8.4 billion by 2030, growing at a CAGR of 7.5% from 2022 to 2030.
According to Report, the global neurology patient monitoring market size was estimated at USD 4.5 billion in 2020 and is expected to surpass around USD 8.4 billion by 2030, growing at a CAGR of 7.5% from 2022 to 2030.
The demand for neurology patient monitoring is increasing owing to the rising incidence of neurological disorders, increasing road accidents that result in traumatic brain injuries, as well as launch the of technologically advanced products in the market. The outbreak of COVID-19 in 2020 had an adverse impact on the market. It led to a shortage of medical devices including neurology monitoring devices owing to disruption in supply chain operations due to lockdown at the global level.
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Increasing incidences of neurological diseases coupled with a subsequent rise in the number of surgical procedures to treat associated conditions are positively driving the market. In addition, rising cases of road accidents that lead to traumatic brain injuries are also driving the demand for neurology patient monitoring.
Report Coverage
|
Report Scope |
Details |
|
Market Size |
US$ 8.4 billion by 2030 |
|
Growth Rate |
CAGR of 7.5% From 2022 to 2030 |
|
Largest Market |
North America |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Application |
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
|
Companies Mentioned |
Medtronic; Integra LifeSciences; Raumedic AG; Sophysa; Spiegelberg GmbH; Natus Medical; Gaeltec Devices; Neural Analytics. |
By Application Analysis
The trauma segment held the largest revenue share of 24.6% in 2021. The prevalence of traumatic brain injury and the increase in the geriatric population across the globe is the major factor driving the segment.
It is reported that about 62,000 concussions are sustained due to contact sports during any high school event. Since neurology patient monitoring devices such as MRI, CT-scan, EEG are used for diagnosing such trauma cases, these factors are expected to surge segment growth.
The stroke segment is expected to witness the highest CAGR of 7.7% during the forecast period owing to an increase in the number of people suffering from a cerebral stroke. For instance, stroke is the leading cause of disability in the world, as well as the second leading cause of death.
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By Regional Analysis
North America dominated the market and accounted for the largest revenue share of 37.8% in 2021 and is expected to witness a considerable growth rate during the forecast period. This is attributed to the technological advancements and presence of major key players such as Medtronic, Neural Analysis, and Natus Medical, Inc. in the region.
In Asia Pacific, the market is anticipated to witness the fastest growth over the forecast period. Various government and organizational initiatives to increase awareness regarding disease such as stroke, trauma is expected to drive the market.
Key Players
- Medtronic
- Integra LifeSciences
- Raumedic AG
- Sophysa
- Spiegelberg GmbH
- Natus Medical
- Gaeltec Devices
- Neural Analytics
Market Segmentation
- By Application
- Trauma
- CSF Management
- Migraine
- Stroke
- Hydrocephalus
- EEG
- Others
- Regional
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa (MEA)
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