Nerve monitoring procedures utilize dedicated stimulation probes or electrodes; those are hand-held, single-use devices to locate and/or stimulate local nerve endings. These devices provide an electrical impulse to stimulate motor nerves or muscle to evaluate nerve integrity. Moreover, nerve stimulation electrodes & probes are used during various surgeries, such as parotid surgeries, orthopedic trauma surgeries, head & neck surgeries, and neurosurgery.

The nerve stimulation electrodes and probes market is projected to reach 42.4% of overall nerve monitoring systems market by 2022, largely due to the increasing awareness of healthcare professionals about clinical benefits associated with nerve monitoring (such as improved patient safety & surgical accuracy, decreased post-operative trauma, and early patient recovery), increasing number of complex & critical surgeries worldwide (coupled with growing number of target patient population base).

Rising spinal cord injuries across the world, ongoing technological advancements in the field of nerve stimulation & monitoring, and rising adoption of intraoperative nerve monitoring during surgeries are likely to propel further growth of the nerve monitoring systems during the forecast period.

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Global Nerve Monitoring Market is projected to reach USD 1.45 Billion by 2022 from USD 1.14 Billion in 2017, at a CAGR of 4.9% during the forecast period.

Factors such as increased target patient population, clinical benefits associated with nerve monitoring procedures, and the rising use of nerve monitoring in trauma cases are expected to drive the demand for nerve monitoring products during the study period.

Based on end users, the hospitals and surgical centers segment is expected to register fastest growth rate in the forecast period

The nerve monitoring system market is segmented into hospitals and surgical centers and ambulatory surgical centers segment. The hospitals and surgical centers is projected to be the fastest-growing end-user segment due to increasing number of complex surgical procedures, and rising number of diagnostic and surgical procedures carried out at hospitals.

The major players of the Nerve Monitoring Market are Medtronic (Ireland), NuVasive (US), Nihon Kohden (Japan), Bovie Medical (US), and Natus Medical (US), Checkpoint Surgical (US), Magstim (UK), Inomed (Germany), Erbe Elektromedizin (Germany), Dr. Langer Medical (Germany), EMS Handels (Austria), Neurovision Medical (US), and Halyard Health (Georgia).

Analysis of the market developments between 2015 and 2017 revealed that several growth strategies such as product launches, acquisitions, mergers, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the nerve monitoring system market. Among these business strategies, mergers and acquisitions, were the most widely adopted growth strategies by players to strengthen their product portfolios and to remain competitive in the market.

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Medtronic (Ireland) held the leading position in the global nerve monitoring systems market in 2016. The company offers Intraoperative NIM nerve monitoring systems that provide audio and visual warnings to surgeons for various procedures such as ENT, biopsy, neuroendoscopy, and general surgeries. This is helping the company to strengthen its position in the nerve monitoring market. The company is increasingly focusing on research and development activities to maintain its product portfolio. For instance, the company invested USD 1,640 million in research and development activities in 2015, whereas it invested USD 2,193 million in 2017.

NuVasive (US) secured the second position in the global Nerve Monitoring Market in 2016. The company is focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions. The company’s nerve monitoring system “NVM5 platform” is capable of performing various functions during spine surgery such as nerve avoidance and navigation, nerve monitoring and instrument navigation, spinal cord monitoring, peripheral sensory nerve monitoring, computer-assisted, rod-bending technology, and intraoperative angular assessment tools. The company is continuously focusing on significant research and development efforts to expand its product platforms and develop advanced applications of unique technology into procedurally integrated surgical solutions.

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