Intracranial Hemorrhage Diagnosis and Treatment Market | How has COVID-19 affected the market?
Intracranial Hemorrhage Diagnosis & Treatment Market: Information By Type (Intracerebral Hemorrhage, Subarachnoid Bleeding, Epidural Hematoma and Subdural Blood Hematoma), Diagnosis & Treatment (Diagnosis (CT, MRI, and Others) and Treatment (Medication and Surgery) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027
Market Insight
Market Research Future (MRFR) report that the market for intracranial hemorrhage diagnosis and treatment is predicted to reach the value of USD 1.9 billion by the end of 2023. The market is expected to register the CAGR of 6.1 % during the forecast period (2017-2023). Hemorrhages or blood loss can be internal or external owing to a variety of conditions such as trauma, tissue damage due to surgery, accidents, cuts, etc. On the other hand, intracranial hemorrhaging refers to the bleeding in the brain due to trauma or any medical condition such as cancer, tumor and such.
Drivers
At present, intracranial hemorrhage diagnosis and treatment is a highly profitable market venture owing to the large base of hypertensive patients and also increasing research on potential drug molecules, making this an attractive market.
In addition, technological breakthrough like point-of-care drug delivery systems coupled with growing focus on retaining superior quality of life contributes to the growth of this market to a large extent. Another driver participating in the market growth is the increasing number of traumatic injury cases.
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Restraints
The critical market restraint is the invasive nature of most intra-cranial pressure monitors, which poses a threat to the market growth. However, on account of increasing base of intracranial hemorrhage patients and high adoption rate for novel therapies, the market is touted to possess high potential in the near future.
Market Segmentation
The global intracranial hemorrhage diagnosis and treatment market is segmented on the basis of devices, type, drug, and surgeries.
By devices, the market is segmented into invasive and non-invasive. The invasive segment is sub-segmented into ventricular drainage pressure monitors, lumbar drainage pressure monitors, micro-transducer pressure monitors. On the other hand, the non-invasive segment is sub-segmented into tissue resonance analysis (TRA) and Trans Cranial Doppler (TCD).
Type-wise, the market is segmented into intracranial hemorrhage treatment, cerebral hemorrhage, subarachnoid hemorrhage, postpartum hemorrhage, pulmonary hemorrhage, and other.
By drugs, the market is segmented into anti-hypertensive, coagulants, and others. Changes in lifestyle along with food habits have augmented stress levels, which are largely responsible for the high growth of anti-hypertensive drugs market.
By surgeries, the market is segmented into decompression surgery, craniotomy with open surgery, simple aspiration, endoscopic evacuation, stereotactic aspiration, and clipping or coiling procedures.
Regional Analysis
The regional segments of the global intracranial hemorrhage diagnosis and treatment market are North America, Europe, Asia Pacific (APAC) and the Middle East & Africa.
The North America market is flourishing due to presence of high economy countries such as the United States (US), which accounts for the maximum market share. The market growth in the region is due to favorable reimbursement scenario and greater expenditure on healthcare.
Europe is the second largest market on account of large disposable income and rising awareness. The growing prevalence of hypertension and rising number of strokes in the region has propelled the market growth to a large extent.
APAC is deemed to be the fastest growing region due to large unmet needs led by China and India. The region also observes market players indulging in joint ventures, mergers, and acquisitions, new product developments coupled with research and developments. These strategic activities benefit the market growth in the region, as the market players strive to take advantage of the immense growth potential offered by the regional market.
The market in the Middle East and Africa is estimated to be led by the Gulf nations, especially Saudi Arabia and United Arab Emirates (UAE). The poor nations in Africa will be subject to weaker market performance due to poor economic and political conditions.
Competitive Landscape
Johnson & Johnson, Sophysa Ltd, HaiWeiKang, Integra Life Sciences Corporation, Head Sense Medical, InfraScan, Inc., Medtronic Plc., Codman & Shurtleff, Inc., Raumedic AG, Vittamed, Sophysa Ltd., Orsan Medical Technologies, and Spiegelberg GmbH are some of the key players contributing to the global intracranial hemorrhage diagnosis and treatment market.
Industry News
August 2018 — Aidoc has been granted U.S. Food and Drug Administration (FDA) clearance for its first product in its portfolio of artificial intelligence (AI)-based workflow optimization solutions. The clearance is for Aidoc’s brain solution to work with radiologists to detect acute intracranial hemorrhage (ICH) cases in head computed tomography (CT) scans. It is touted to be the world's first deep learning solution to assist radiologists in workflow triage.
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