What is the Global market size of the Intraoperative Neuromonitoring Market?

Global Intraoperative Neuromonitoring Market size was valued at USD 3.02 billion in 2021 and is poised to grow from USD 3.16 billion in 2022 to USD 4.22 billion by 2030, growing at a CAGR of 4.9% in the forecast period (2023-2030).

Who are the key vendors in the Global Intraoperative Neuromonitoring Market?

The global intraoperative neuromonitoring (IONM) market is highly competitive, with both global and local players. Because of technological advancements, small and mid-sized businesses are focusing on market penetration in order to gain market share. The market is experiencing a surge in merger and acquisition activity. Medtronic and Natus Medical among all key players have a strong presence in the global Intraoperative neuromonitoring market with its leading products and services. The majority of the market's key players are concentrating their efforts on R&D, product innovation, expanding their existing product lines, and strengthening their market presence through geographical expansion. 'Medtronic', 'NuVasive', 'Nihon Kohden Corporation', 'Inomed Medizintechnik GmbH', 'Natus Medical Incorporated', 'Computational Diagnostics Inc.', 'Accurate Monitoring LLC', 'Cadwell Industries, Inc.', 'Moberg Research, Inc.', 'NeuroWave Systems Inc.', 'NeuroMonitoring Technologies, Inc.', 'Sentient Medical Systems', 'SpecialityCare', 'Technomed Europe', 'Medsurant Holdings LLC', 'Medistim ASA', 'Biotronic NeuroNetwork', 'NeuroSign Surgical', 'Axiom Neuromonitoring LLC', 'Neurophysiology Services Asia'

What is the key driver of the Global Intraoperative Neuromonitoring Market?

The high cost of IONM devices and procedures are a significant growth barrier. EEG devices with 1-32 channels cost around US$ 1,000 to US$ 25,000, and EEG devices with more than 64 channels can cost more than US$ 25,000, depending on the number of channels. Portable amplifiers capable of recording EMG for more than four hours usually cost more than US$ 20,000. Because of budget constraints, many end-users prefer refurbished IONM devices, which offer significant cost savings over new devices. Several companies offer refurbished IONM devices at promotional prices that impacts the sale of new devices.

What is the key market trend for the Global Intraoperative Neuromonitoring Market?

Post-pandemic demand: The post-pandemic effect of Covid-19 has enabled an increase in demand for elective surgeries followed with an increased awareness for benefits of IONM.

Which region accounted for the largest share in the Global Intraoperative Neuromonitoring Market?

North America dominated the market, accounting for more than 55% of global revenue in 2022. The reimbursement scenario, and the increasing cases of neurological disorders, are a major contributor to this dominance. According to the National Institute of Health, approximately 795,000 people in the US experience stroke each year with 137,000 death cases. Furthermore, according to the Migraine Research Foundation, approximately 35 million people in the US suffer from migraine headaches in the upcoming year. Furthermore, nearly 43% of women and 18 percent of men in the country are expected to suffer from migraines. As a result, rising rates of neurological disorders like TBI, migraine, and stroke are expected to drive market growth in this country.

Intraoperative Neuromonitoring Market Updates

Intraoperative Neuromonitoring Market News

In July 2024, Soterix Medical received FDA 510(k) clearance for its MEGA-IOM system, which is designed to enhance intraoperative neurophysiological monitoring (IOM). The system provides integrated monitoring of central and peripheral nervous systems, using tools such as motor sensory evoked potentials, EEG, direct nerve stimulation, etc. Its modular design allows customization to a variety of surgical needs, with options for portable or cart-based setups. Soterix provides training and certification to support the U.S. adoption of children.
In June 2024, The Neuro-IOM/Solo, a new 8-channel IONM system, is launched specifically for use by surgeons. It provides monitoring through 8 channels with depression, making it ideal for endocrine, maxillofacial and ENT surgery. The device greatly simplifies the monitoring process.
In September 2022, BrainLab announced the appointment of Dr. Eugene, a German company specializing in IONM solutions for surgery. The acquisition of Langer Medical GmbH was announced. The acquisition aims to enhance the digital surgery ecosystem, bringing together the innovation efforts of both companies. Dr. Langer Medical GmbH will independently operate within the BrainLab Group.

FAQs

Intraoperative Neuromonitoring Market size was valued at USD 3.27 Billion in 2023 and is poised to grow from USD 3.43 Billion in 2024 to USD 4.99 Billion by 2032, growing at a CAGR of 4.8% during the forecast period (2025-2032).

The intraoperative neuromonitoring market is characterized by means of a blend of established healthcare organizations, specialized IONM provider companies, and modern startups. Leading players on this market regularly raise awareness of an aggregate of technological development, strategic partnerships, acquisitions, and geographic enlargement to reinforce their market role. The market is seeing increased opposition, with corporations vying to differentiate themselves through carrier satisfactory, pricing, and innovation due to the excessive demand for IONM through complicated surgical tactics. 'Natus Medical Incorporated (US) ', 'Accurate Monitoring (US) ', 'NeuroMonitoring Technologies (US) ', 'Medtronic (Ireland) ', 'NuVasive , Inc. (US) ', 'SpecialtyCare (US)', 'Cadwell Industries, Inc. (US) ', 'Alpha Omega Engineering, Inc. (US) ', 'Biotronic NeuroNetwork (US) ', 'IntraOp Medical Corporation (US) ', 'NeuroWave Systems, Inc. (US) ', 'Integra LifeSciences Corporation (US) ', 'Zynex, Inc. (US) ', 'Medtronic (Ireland) ', 'Stryker Corporation (US) ', 'Nerve Monitoring Services, Inc. (US) ', 'Neurodiagnostic Services (US) ', 'Aesculap, Inc. (US) ', 'Elekta AB (Sweden) ', 'OrLive (US) ', 'Stimwave Technologies (US)'

Global growth in complex surgical procedures, especially those involving musculoskeletal systems, is a major driver of the market. The need to reduce and improve the recovery outcomes has increased the demand for IONM services. Also, improved health care in countries in developing economies has led to an increase in the number of surgeries, increasing demand for IONM due to more prevalent lifestyle problems and an aging population.

Integration of Artificial Intelligence (AI) and Machine Learning (ML): The combination of AI and ML is transforming IONM by increasing the accuracy and predictive capabilities of monitoring systems. AI-powered IONM systems are capable of rapidly analyzing large amounts of data, enabling the detection of subtle patterns in neural signals that can indicate potential complications during surgery. This enables accurate decision-making and improve patient outcomes. Additionally, AI-powered systems can help automate a monitoring process, reducing the need for extensive human intervention and potentially reducing the impact of an operational disruption caused on the IONM station. As the healthcare industry increasingly embraces digital transformation, AI and ML are set to play a critical role in enhancing the capabilities and functionality of IONM.

As per intraoperative neuromonitoring market forecast, North America dominated with a share of 49.35% in 2023. Good reimbursement policies and continuous innovation by key players further support the market growth of the business. In addition, advances in technology, such as portable IONM devices and advanced monitoring methods, make it easier for healthcare professionals to integrate these systems into their practices. Training programs for technologists as well as surgeons to expand so that physicians can use IONM effectively. U.S. was a major contributor, and Canada also plays an important role by increasing investment in health technology. The intraoperative neuromonitoring market will account for the largest share of the market by 2025.