Brain Monitoring Market worth .8 billion by 2028

Posted by MV Mukund on March 27th, 2024

Market Size Estimation:

Both top-down and bottom-up approaches were used to estimate and validate the total size of the Brain Monitoring market. These methods were also used extensively to estimate the size of various subsegments in the market.

Bottom-up approach:

The bottom-up procedure was adopted to arrive at the overall size of the Brain Monitoring market from the revenue of key players (companies), their shares in the market, and their annual sales of Brain Monitoring products.

Top-down approach:

The overall Brain Monitoring market size was used in the top-down approach to estimate the sizes of other individual markets (mentioned in the market segmentation by product, medical condition, end user, and region) through percentage splits from secondary and primary research.

For the calculation of each type of specific market segment, the most appropriate immediate-parent market size was used for implementing the top-down approach. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained. Market shares were then estimated for top companies to verify the total market revenue arrived earlier in the bottom-up approach.

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Projected Surge in Revenue Generation:

Revenue from the global brain monitoring market was projected to reach .5 billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.3% to reach .8 billion by 2028.

Major Growth Influencing Factors:

The main factors driving the market for brain monitoring are the increasing incidence and prevalence of neurological disorders, increased public awareness of neurodegenerative diseases, an increase in traumatic brain injuries, and the growing use of brain monitoring in clinical trials. Furthermore, it is predicted that market participants will have development possibilities due to the growing demand for minimally invasive and non-invasive devices, the rising therapeutic uses of brain monitoring instruments, and the growing healthcare sector in emerging nations.

End Users:

In the brain monitoring market, hospitals held the most proportion of the end-user segment.

The global market for brain monitoring devices is divided into hospitals, neurology centers, diagnostic centers, ASCs & clinics, and other end users based on end-users. In 2022, the hospital sector accounted for the greatest proportion of the worldwide brain monitoring market. Brain monitoring requires complex processes with expensive, high-tech equipment that is usually found in hospital settings. Compared to smaller clinics and other end users, hospitals see a noticeably higher volume of patients. Furthermore, hospitals in particular can afford the maintenance expenditures connected with brain monitoring devices, which place a significant strain on healthcare facilities. Consequently, brain monitoring gadgets are primarily utilized in hospitals, which adds to their market share and supremacy in this particular category.

Geographical Growth Dynamics:

The biggest portion of the global market for brain monitoring was held by North America.

The brain monitoring market is divided into five regions based on geography: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In 2022, North America accounted for the greatest portion of the global market for brain monitoring, with Asia Pacific expected to increase at the quickest rate over the forecast period. The growing number of clinical trials for brain monitoring products, US medical reimbursement availability, the sizeable patient population for target diseases, the strong presence of device manufacturers in the area, and the availability of substantial R&D investments to support brain monitoring development are the reasons for the market share of brain monitoring in North America.

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MV Mukund

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MV Mukund
Joined: March 18th, 2020
Articles Posted: 77

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