Neurology Patient Monitoring Market Revenue Forecast by Regions 2030

Neurology Patient Monitoring Market Growth & Trends

The global neurology patient monitoring market size is anticipated to reach USD 7.4 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.0% from 2022 to 2030. Increasing incidences of neurological diseases coupled with a subsequent rise in the number of surgical procedures to treat associated conditions are positively driving the market. In addition, rising cases of road accidents that lead to traumatic brain injuries are also driving the demand for neurology patient monitoring.

U.S. neurology patient monitoring market size, by application, 2020 - 2030 (USD Million)

Neurology Patient Monitoring Market Segmentation

Grand View Research has segmented the global neurology patient monitoring market on the basis of application and region:

Based on the Application Insights, the market is segmented into Trauma, CSF Management, Migraine, Stroke, Hydrocephalus, EEG, Others.

  • The trauma segment held the largest revenue share of 24.6% in 2021. The prevalence of traumatic brain injury and the increase in the geriatric population across the globe is the major factor driving the segment. For instance, according to NCBI, the geriatric population with concussion has a greater than 80.0% chance of death or long-term disability. Approximately 8.0% of people aged 65 and above visit ER due to fall-related concussion issues each year. Sports injury is another leading reason for TBI. There is a high potential of about 19.0% of people suffering from concussions due to contact sports. It is reported that about 62,000 concussions are sustained due to contact sports during any high school event. Since neurology patient monitoring devices such as MRI, CT-scan, EEG are used for diagnosing such trauma cases, these factors are expected to surge segment growth.
  • Whereas, the stroke segment is expected to witness the highest CAGR of 7.7% during the forecast period owing to an increase in the number of people suffering from a cerebral stroke. For instance, stroke is the leading cause of disability in the world, as well as the second leading cause of death. According to the National Stroke Association of the U.S., 25.0% of stroke victims have modest impairments, while 40.0% have moderate-to-severe disabilities that demand permanent special care. In July 2021, Philips developed SmartCT, a new 3D measuring, and visualization tool to improve the imaging capabilities of its image-guided therapy angiography suite, with the goal of getting patients into treatment quicker. As a result, the demand for neurology patient monitoring is expected to increase in the near future.

Neurology Patient Monitoring Regional Outlook

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Market Share Insights

  • September 2019: Integra Lifesciences completed the acquisition of Rebound Therapeutics, a manufacturer of disposable medical devices. With this acquisition, the company developed new products and a minimally invasive platform for neurosurgery.
  • July 2019: Integra LifeSciences acquired Arkis Biosciences, Inc. This helped Integra LifeSciences to strengthen its portfolio in neurocritical care and advance catheter technology.
  • May 2019: Neural Analytics raised around USD 22 million in Series C financing shares, to support its Lucid Robotic System for brain health assessment. The company will be able to unveil its robot-assisted ultrasound system into clinical settings with the help of this financing.

Key Companies Profile & Market Share Insights

Key players are involved in adopting strategies such as mergers and acquisitions, partnerships, and launching new technologically advanced products and services to strengthen their foothold in the neurology patient monitoring device market.

Some of the prominent players operating in the global neurology patient monitoring market include,

  • Medtronic
  • Integra LifeSciences
  • Raumedic AG
  • Sophysa
  • Spiegelberg GmbH
  • Natus Medical
  • Gaeltec Devices
  • Neural Analytics

Order a free sample PDF of the Neurology Patient Monitoring Market Intelligence Study, published by Grand View Research.

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