Brain monitoring devices identify and measure any abnormality in the functioning of the brain cells (neurons) that are linked with neurological disorders such as Alzheimer’s, Parkinson’s, epilepsy, dementia, multiple sclerosis, sleep disorder, and brain tumor. Monitoring brain functions such as blood flow, pressure surrounding the brain, electrical and neural activity, gravity adjoining the brain, cerebral oxygen capacity, tumor, traumatic brain injury, and other conditions can aid in preventing serious consequences. Increasing stress level and rapid onset of aging are major factors increasing uptake of preemptive monitoring to detect neurological conditions. Treating a brain disease incurs major cost, with risk for death due to high complexity in certain neurological condition. Therefore, early diagnosis and regular health check is recommended by healthcare service providers and practitioners.
Brain monitoring market potential
The potential for brain monitoring would increase with penetration of healthcare facilities in emerging economies. Inadequate funding in emerging economies such as India, China, Brazil, Indonesia, and also certain developed countries such as Israel has resulted in low access to healthcare facilities in rural regions of these nations. A larger share of the population thus remains unserved for their health care needs. Besides, there exists a large target population worldwide, with increasing incidence of brain injuries, strokes, and other brain disorders. These factors collectively create a highly conducive environment for sustained growth of the global brain monitoring market in the foreseeable future.
Key statistics pertaining to the global brain monitoring market:
Presence of this high target population would contribute towards growth of global brain monitoring market, further supported by favorable government incentives and regulations.
Brain monitoring market taxonomy
The global brain monitoring market is analyzed on the basis of product type, end user, and application. The different product types of brain monitoring are:
The global brain monitoring market is also segmented on the basis of application into epilepsy, dementia, Huntington's disease, Parkinson’s disease, stroke, traumatic brain injuries, headache disorders, sleep disorders, and others. Hospitals, neurological centers, diagnostic centers, ambulatory surgical centers, and others is the segmentation of the global market of brain monitoring on the basis of end user. Hospitals are the major end users, as they have a considerably high patient flow, high investment capacity, and wide availability of healthcare resources to effectively serve the patient’s need.
Demand for non-invasive brain monitoring modalities is high, owing to its better convenience, safety, and cost-effectiveness as compared to invasive brain monitoring devices. This has further encouraged manufacturers to increasing investments in non-invasive devices and technologies to cater to consumer demand. A portable brain injury scanner is a great addition to the brain monitoring industry. This is expected to further drive growth of the brain monitoring market during the forecast period (2016–2024).
Plethora of untapped opportunities in emerging economies
The World Health Organization (WHO) has devised a Mental Health Action Plan 2013-2020 with certain objectives in order to provide comprehensive responsive mental health and social care services to the global population. Neurological disease burden is especially high in emerging economies, which has resulted in renewed efforts by government and non-government agencies to tackle this menace. Market players can gain significant growth in Asia Pacific, Middle East, Latin America and Africa regions for their brain monitoring modalities and services, provided they focus on development of low-cost products and strengthen collaborations with healthcare facilities. Developed world, including North America and Western Europe require more advanced monitoring devices to be compatible with rapidly changing technology. This entails research and time for commercialization, until which market players can cash in on sales of their existing products in emerging global economies. This creates highly lucrative opportunities for players in the global brain monitoring market and these factors are expected to be prevalent through the forecast period (2016–2024).
Some of the major players in the global brain monitoring market are BrainScope Company, Inc., Neural Analytics, GE Healthcare, InfraSacn, Inc., Elekta A.B., Siemens Healthineers, Philips Healthcare, Natus Medical, Medtronic, Neurosoft Limited, and Cadwell Laboratories.
Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.
Coherent Market Insights desk research is based on a principle set of research techniques:
Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:
Preliminary Data Mining
The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.
Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.
Coherent Statistical model
We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:
Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.
This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.