Brain Monitoring Industry – Impact of Tech Advancements on Global Healthcare Industry
Ecosystem of the Brain Monitoring Market:
The brain monitoring market is an ever-growing and dynamic ecosystem, composed of multiple stakeholders including technology and device manufacturers, healthcare providers, research and academic institutions, and regulatory and government agencies.
Technology and device manufacturers are responsible for innovating and creating the products that make up the brain monitoring market. They design, develop, and market these products and services, which may include EEG, MRI, and other imaging technologies.
Healthcare providers are responsible for integrating and utilizing brain monitoring technologies into their clinical practices. This includes assessing patient needs, providing diagnosis and treatment plans, and providing ongoing care and support.
Research and academic institutions provide the necessary research and education needed to advance the understanding of brain monitoring technologies. This includes conducting studies and trials, developing new technologies, and providing educational courses and seminars.
Regulatory and government agencies are responsible for setting and enforcing standards and regulations that ensure the safety and efficacy of brain monitoring products and services. This includes approving new products and technologies, conducting inspections, and enforcing compliance.
Major Growth Driving Factors:
The global market is mainly driven by factors such as the increasing incidence and prevalence of neurological disorders, rising awareness of neurodegenerative diseases, growth in the number of traumatic brain injuries, and increasing applications of brain monitoring in clinical trials.
The rising demand for non-invasive and minimally invasive devices, the expanding therapeutic applications of brain monitoring devices, and the growing healthcare market in emerging economies are also expected to provide opportunities for growth for players in the market.
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Impact of Tech Advancements on Global Healthcare Industry
The advancement of technology in brain monitoring has had a significant impact on the global healthcare industry. Brain monitoring technology provides healthcare professionals with the ability to measure, monitor, and analyse brain activity in real-time, allowing them to diagnose and treat neurological conditions more accurately and quickly.
This technology has dramatically improved the quality of care for patients with neurological conditions, leading to better outcomes and improved long-term health. It also has made it easier for healthcare professionals to detect and prevent potential issues before they become serious, which is essential for providing patients with the best possible care.
Brain monitoring technology has also opened up new possibilities for research and development in the field of neuroscience, allowing healthcare professionals to gain a better understanding of the brain and how it works. This, in turn, has made it easier for them to develop treatments and therapies for a variety of neurological disorders.
Opportunities: The increasing demand for non-invasive and minimally invasive devices
Invasive monitoring is a complex, painful, and risky process, as it involves direct intervention with sensitive brain tissue. Doctors and patients, therefore, show a high inclination toward the use of non-invasive or minimally invasive brain monitoring devices. Owing to their advantages, there has been a rapid increase in the demand for non-invasive ICP monitors, TCD devices, tympanic membrane displacement procedures, optic nerve sheath diameter, CT scan/MRI, and fundoscopy, which are reliable alternatives to invasive techniques, thus compelling players in this market to develop and commercialize such products.
In March 2019, Masimo (US) received CE Mark approval for its next-generation SedLine brain function monitor for pediatric patients aged between one and 18 years of age; this product assesses the brain function while the patient is under anesthesia.
In March 2018, Nihon Kohden (Japan) launched aireeg WEE-1200, a wireless EEG system that provides real-time data during long-term epilepsy monitoring, intensive care, and routine EEG.
Several government initiatives are focused on the development of novel and innovative devices, such as the BRAIN initiative launched in the US in April 2013, for encouraging R&D related to the functioning of the brain. Advanced Research Projects Activity (IARPA) joined the BRAIN initiative for the development of non-invasive neural intervention devices for optimizing reasoning and problem-solving.
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