Global Intraoperative Neuromonitoring Market is Expected to Foresee Significant Growth During the Forecast Period. North America to Witness the Highest Growth

• Vikas Kumar
• July 16, 2022
• HEALTHCARE, NEWS
• Intraoperative Neuromonitoring Market, Intraoperative Neuromonitoring Market Forecast, Intraoperative Neuromonitoring Market Growth, Intraoperative Neuromonitoring Market Report, Intraoperative Neuromonitoring Market Share, Intraoperative Neuromonitoring Market size, Intraoperative Neuromonitoring Market Trend
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Global intraoperative neuromonitoring market is expected to grow significantly by 2027 expanding at a reasonable CAGR of around 5% during the forecast period (2021-2027). Intraoperative neuromonitoring refers to the continuous surveillance of a patient’s nervous system including the brain, spinal cord, and nerves during surgical procedures when they are at higher risk of getting injured during surgery. IONM provides an extra layer of safety for both the surgeon and the patient.

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The global intraoperative neuromonitoring (IONM) market is anticipated to witness an uptick with the development of social society leading to changes in diet and other lifestyles. This along with the rapidly growing aging population across the globe is causing an increase in the number of patients having chronic diseases such as neurological diseases, cardiovascular diseases, etc. this is also responsible for an uptick in the number of surgeries across the globe. For instance, as per the OECD stats, the total number of surgical procedures in Canada was 4,11,668 in 2019, up from 3,96,218 in 2017. Owing to these glaring statistics and the need to manage the risk during complex surgeries, the demand for intraoperative neuromonitoring devices is anticipated to grow in the upcoming years. Furthermore, the rapidly growing medical tourism, technological advancements in the healthcare sector, and rising healthcare expenditure in different countries are some of the prominent factors supporting the growth of the market across the globe.

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Based on type, the market is segmented into insourced monitoring and outsourced monitoring. The insourced monitoring segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe. The growth of this segment can be attributed to the rising number of surgeries and the increasing need to monitor the vitals during surgical procedures.

Based on application, the intraoperative neuromonitoring market is categorized into spinal surgery, neurosurgery, vascular surgery, ENT surgery, orthopedic surgery, and other surgeries. The neurosurgery segment occupied the major share of the intraoperative neuromonitoring market in 2020 and it is expected to grow with a substantial CAGR in the upcoming years owing to the increasing incidences of neurological conditions and thus, rise in neurological surgeries across the globe. 

Additionally, the report provides detailed report also provides insights into the global intraoperative neuromonitoring market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, India, Australia, Japan, and Rest of APAC), Rest of World has been conducted. North America dominated the market in 2020 owing to the well-established market players and increasing geriatric population.

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Medtronic plc, Computational Diagnostics Inc., Natus Medical Incorporated, Nihon Kohden Corporation, Accurate Monitoring, Technomed, NeuroMonitoring Technologies, NuVasive Inc., SpecialtyCare Inc., inomed Medizintechnik GmbH, are some of the key players operating in the global intraoperative neuromonitoring market. Several M&As along with partnerships have been undertaken by these players to develop new products.

Global Intraoperative Neuromonitoring Market Segmentation

Market Insight, by Type

• Insourced Monitoring
• Outsourced Monitoring

Market Insight, by Application

• Spinal Surgery
• Neurosurgery
• Vascular Surgery
• ENT Surgery
• Orthopedic Surgery
• Other Surgeries

Market Insight, by End-Users

• Hospitals
• Ambulatory Surgical Centers

Market Insight, by Region

• North America
  • United States
  • Canada
  • Rest of North America
• Europe
  • France
  • Germany
  • Italy
  • Spain
  • United Kingdom
  • Rest of Europe
• Asia-Pacific
  • China
  • India
  • Australia
  • Japan
  • Rest of Asia-Pacific
• Rest of World

Top Company Profiles

• Medtronic plc
• Computational Diagnostics Inc.
• Natus Medical Incorporated
• Nihon Kohden Corporation
• Accurate Monitoring
• Technomed
• NeuroMonitoring Technologies
• NuVasive Inc.
• SpecialtyCare Inc.
• inomed Medizintechnik GmbH