(PharmaNewsWire.Com, August 21, 2018 ) In the year 2018, Global Neurological Monitoring Devices Market valued at USD 8.49 Billion. By the year 2023, it is predicted to reach USD 11.96 Billion with pace of 7.1% CAGR. Standardization in brain monitoring process and increment in number of neuro-cognitive diseases clinical trials are good opportunities for the growth of the market.
Increasing neurological diseases and technological improvements Factors affecting market growth: • Increasing risk of neurological diseases. (+) • Development of technology in the specific field. (+) • Increasing concerns about neurodegenerative diseases. (+) • Growing rate of traumatic brain injuries. (+) • Unavailability of skilled professionals. (-) • High manufacturing costs. (-) • Poor reimbursement policies due to inaccuracy of diagnostic devices. (-)
Market Segmentation The Global Neurological Monitoring Devices Market is geographically segmented into • North America. • Europe. • Asia Pacific. • Latin America. • Middle East and Africa. North America holds the major chunk of global market share due to technological improvements and growing facilities for medical care. Europe is trailing right behind North America in terms of market share. In addition, Asia Pacific region is estimated to witness greater growth with highest estimated CAGR in forecasted market period due to large amount of funding inflow to healthcare and presence of rapidly evolving economies.
Key players: Key players competing in the Global Neurological Monitoring Devices Market include Nihon Kohden Corporation and Advanced Brain Monitoring, Electrical Geodesics Incorporated, Medtronic Inc., Siemens Healthcare, Rimed Inc., MEG International Services Ltd., InTechnology, InTouch Health, Johnson & Johnson, Intel Corporation, AMD Global Telemedicine, GE Healthcare, Philips Healthcare, Natus Medical Inc., Compumedics Ltd., and CAS Medical Systems Inc.
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