Global Intracranial Pressure Monitors Market Led by EVD Segment owing to Ease of Use and Affordability

The global intracranial pressure monitor market is currently undergoing a necessary growth phase due to the growing prevalence of brain hemorrhage and other trauma-based brain injuries. The rate of development and innovations is increasing on an annual basis in order to formulate effective treatments for cranial and intracranial injuries.
 
The global intracranial pressure monitor market is growing at a CAGR of 6.40% from 2015 to 2023. The market’s value in 2014 was US$210.5 mn and is expected to rise to US$350.5 mn in 2023.
 
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EVD Segment Leads Global Intracranial Pressure Monitor Market
 
In terms of products, the global intracranial pressure monitor market is dominated by the external ventricular drain (EVD) segment. The EVD segment in 2014 held a market share of more than 35.0%. The key reasons for the high level of preference for EVDs is their affordability and their relative ease of use in comparison to other devices in the global intracranial pressure monitor market.
 
On the other hand, the global intracranial pressure monitor market is also expected to receive a major boost from demand for the segment of air pouch devices, owing to their extremely low zero-drift characteristics that impart greater stability. The air pouch devices segment is expected to experience greater levels of technological advancement in the near future, allowing them to be increasingly accurate and further contributing to the growth of this segment.
 
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High Rate of Brain Injuries Creates Growth Prospects for Intracranial Pressure Monitor Market
 
The number of people suffering from intracranial injuries and trauma injuries is increasing. As a result, the greatest market share in the case of applications was taken up by the segment of traumatic brain injury, in 2014. The number of head injuries has also increased, due to events such as violence, sports injuries, and vehicular accidents. The traumatic brain surgery segment is also expected to be the fastest growing one between 2015 and 2023, owing to a spurt of R&D activities and advancements in the technological and diagnostic areas of the segment.
 
Looking at the global intracranial pressure monitor market from its end users’ perspective, we can see that the growing rate of head injuries also drives the trauma center segment. This segment held the largest share in the global intracranial pressure monitor market in 2014, due to a growing need of opening and maintaining round-the-clock trauma centers and creating a sufficient availability of medical experts for the growing number of patients suffering from head injuries. The trauma center segment is also expected to grow at the fastest CAGR among the end users in the global intracranial pressure monitor market for the same reasons.
 
North America Leads Global Intracranial Pressure Monitor Market
 
A dominant share in the global intracranial pressure monitor market was taken up by North America, owing to the high rate of developments in the market and the high prevalence of trauma centers across its countries. North America has also shown itself to be willing to develop and use advanced equipment, further boosting the region’s standing in the global intracranial pressure monitor market. However, the fastest growth rate in the forecast period is attributed to Asia Pacific. The Asia Pacific intracranial pressure monitor market is growing due to the heavily populated regions and growth in the number of head trauma cases annually.Some of the key players in the global intracranial pressure monitor market are Medtronic, Inc., Haiying Medical, and Codman and Shurtleff.
 
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