Brain Monitoring Market: Opportunities and Challenges

November 08 18:16 2019
Brain Monitoring Market: Opportunities and Challenges

The prominent players in the brain monitoring market are Natus Medical Inc. (U.S.), Nihon Kohden Corporation (Japan), Philips Healthcare (Netherlands), GE Healthcare (U.K.), Siemens Healthineers (Germany), Compumedics Ltd. (Australia), Electrical Geodesics Incorporated (U.S.), Medtronic plc (Ireland), CAS Medical Systems, Inc. (U.S.), and Advanced Brain Monitoring (U.S.).
Many pharmaceutical companies in developing countries are conducting clinical trials, with brain monitoring devices finding increasing applications in this area. This serves as an opportunity for the brain monitoring market.

The global brain monitoring market is expected to reach USD 12.22 Billion by 2021 from USD 8.80 Billion in 2016, growing at a CAGR of 6.8% from 2016 to 2021.

Download PDF Brochure:

Increasing applications in clinical trials

The continued development of innovative treatments is thoroughly dependent on the ability of research organizations and drug companies to meticulously test and validate their work. Certain factors, such as rising geriatric population, high incidence and prevalence of chronic diseases, growing inclination of medical practitioners and patients towards authentic evidence-based medicine, and increasing health awareness among people are driving the number of clinical trials conducted globally. Many pharmaceutical companies in developing countries are conducting clinical trials, with brain monitoring devices finding increasing applications in this area. As certain novel drugs may have adverse neurocognitive effects, several leading pharmaceutical companies are assessing the impact of new drugs on neurocognitive functions. Regeneron Pharmaceuticals, Inc. and Sanofi SA assessed potential neurocognitive side effects of their experimental cholesterol drug, Praluent. This serves as an opportunity for the brain monitoring market.

Shortage of trained professionals

Trained medical personnel are required to effectively operate devices involved in the complex process of brain monitoring. The positioning of electrodes on the scalp and insertion of muscular needles require accuracy and have to be performed only by highly trained personnel. Also, the results generated by EEG and TCD machines are complex and can only be interpreted by qualified technicians or skilled professionals. Without these fundamental skills, end-users will have difficulties maximizing the utility of their brain monitoring equipment. The presence of highly skilled medical personnel and staff is, therefore, vital for the effective use of brain monitoring equipment.

Request Sample Pages:

Currently, there is a shortage of skilled medical personnel in both developed and developing countries. According to the WHO, globally, there was a shortage of approximately 7.2 million healthcare workers in 2013, and this figure is expected to reach 12.9 million by 2035. According to the American Association of Colleges of Nursing, there is a projected shortage of registered nurses in the U.S., and it is expected to intensify by 2030. Moreover, shortage of trained and experienced neurodiagnostic technologists globally has compelled hospitals to cross-train other allied health professionals to perform neurodiagnostic examinations. This presents a key challenge for the growth of the global brain monitoring market.

Browse Related Reports:

Medical Electrodes Market by Usability (Disposable, Reuse), Technology (Dry Electrodes, Wet, Needle), Diagnostic Procedures (ECG, EEG, EMG, EOG, ERG), Application (Cardio, Neurophysiology, Sleep Disorders, Intraoperative) – Global Forecast to 2022

Point of Care Molecular Diagnostics Market by Product & Service (Assays, Kits, Analyzers, Software), Application (Respiratory Disease, Hospital Acquired Infection), Technology (RT-PCR, INAAT), End User (Physician Office, ICUS) – Global Forecast to 2023

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States

Warning: count(): Parameter must be an array or an object that implements Countable in /home/dimapurnewsdesk/ on line 7