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).

Global Intraoperative Neuromonitoring Market Size, Share, Growth Analysis, By Product & Services(Systems, Accessories), By Source Type(Insourced Monitoring, Outsourced Monitoring), By Application(Spinal Surgery, Neurosurgery), By End-User(Hospitals, Ambulatory Surgical Center) - Industry Forecast 2024-2031

Report ID: SQMIG35D2016 | Region: Global | Published Date: February, 2024
Pages: 165 | Tables: 117 | Figures: 77

Global Intraoperative Neuromonitoring Market Insights

Intraoperative Neuromonitoring Market size was valued at USD 3.02 billion in 2019 and is poised to grow from USD 3.16 billion in 2023 to USD 4.22 billion by 2031, growing at a CAGR of 4.9% in the forecast period (2024-2031).

The global intraoperative neuromonitoring market size is expected to enjoy a CAGR of 4.9% between 2022 and 2030. The market technically offers the real-time monitoring and assessment of nervous system during the surgical procedures. The technique assists the surgeons and anesthesiologists to evaluate the integrity and functionality of the nervous system during high-risk surgeries mainly those that may pose a risk to the brain, peripheral nerves, and spinal cord.

The intraoperative neuromonitoring involves techniques such as electromyography, electroencephalography, somatosensory evoked potentials, motor evoked potentials, and others. Clinically, the growing awareness for patient safety followed by technological advancements is expected to remain pivotal for the market growth.
The increasing emphasis on patient safety during difficult surgical procedures, as well as the rising prevalence of chronic disorders such as stroke, epilepsy, Alzheimer's disease, and Parkinson's disease, can be attributed to the market growth. According to the WHO, neurological disorders affect millions of people worldwide as statistically, every year, around 15 million people worldwide suffer from a cerebral stroke. This has contributed to the adoption of neuromonitoring devices and is expected to drive the demand in the forecast years.

US Intraoperative Neuromonitoring Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Intraoperative Neuromonitoring Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

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'

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.

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.

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.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Global Intraoperative Neuromonitoring Market Insights

Global Intraoperative Neuromonitoring Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Intraoperative Neuromonitoring Market?

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

What is the key driver of Global Intraoperative Neuromonitoring Market?

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

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

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300