LONDON--(BUSINESS WIRE)--Technavio’s latest market research report on the global brain monitoring devices market provides an analysis of the most important trends expected to impact the market outlook from 2018-2022. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
According to Technavio analysts, the global brain monitoring devices market will grow at a CAGR of around 9% during the forecast period. The increasing prevalence of neurological disorders is a major factor driving the market’s growth.
The prevalence of neurological disorders is increasing significantly in both developed and developing countries. Brain monitoring devices are required to diagnose and monitor these diseases. Thus, the market is witnessing an increase in demand for brain monitoring devices.
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In this report, Technavio highlights the growing applications of health informatics and monitoring solutions as one of the key emerging trends driving the global brain monitoring devices market:
Growing applications of health informatics and monitoring solutions
Health informatics deals with the acquisition, transmission, processing, storage, retrieval, and use of health information. Brain monitoring devices are increasingly being integrated with health informatics solutions. Moreover, health informatics and monitoring solutions give clinicians the ability to remotely view vital information from multiple devices including EEG devices, cerebral or somatic oximeters, etc. They also allow clinicians to monitor patients' vital signs, even when they are away from their patient or hospital. These technologies provide improved medical diagnosis and disease analysis for procedures like EEG, EMG, and TCD. Vendors such as ADInstruments, BIOPAC Systems, and Data Science International offer monitoring solutions for EEG analysis.
According to a senior analyst at Technavio for patient monitoring devices research, “There is also an increased focus on neuroinformatics, as the amount of data generated during neurological research is snowballing. Neuroinformatic systems help to organize neuroscience-related data by the application of computational models and analytical tools. These systems help to integrate the vast amount of diverse data about the brain and provide tools to organize it for further research efficiently.”
Thus, the digitization of information has tremendous scope for advanced technologies in the future. The application of health informatics and monitoring solutions is expected to drive market growth during the forecast period.
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Global brain monitoring devices market segmentation
This market research report segments the global brain monitoring devices market into the following segments by product (EEG devices, MEG devices, TCD devices, ICP devices, and other devices) and by end-user (hospitals and clinics, ASCs, home-care service providers, and others). The report also presents an analysis of the market’s growth across regions such as the Americas, APAC, and EMEA.
The hospitals and clinics segment accounts for the majority market share in the global brain monitoring devices market, followed by the ASCs and the home-care service providers. The rapid adoption of brain monitoring devices, the high awareness about neurological diseases among clinicians, the increasing prevalence of neurological disorders, favorable reimbursement policies, and the strong focus of the key vendors on hospitals contribute to the growth of the global brain monitoring devices market in hospitals.
The Americas was the leading region for the global brain monitoring devices market in 2017, accounting for a market share of 47% followed by EMEA and APAC. However, the Americas is expected to lose 2% of its market share during the forecast period while EMEA and APAC will witness an increase in their market shares.
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