Growing demand of nerve stimulation electrodes and probes to drive the global nerve monitoring systems market to reach USD 1.45 billion by 2022

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 Monitoring Devices 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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Expected Revenue Growth:

The Global Nerve Monitoring System 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.

Global Market Dynamics:

Hospitals & Surgical Centres

With increasing number of complex diagnostic and surgical procedures performed in hospitals coupled with growing number of hospitals and surgical centers across developing countries, nerve monitoring systems are increasingly being utilized. The number of nerve monitoring procedures performed in hospitals and surgical centers is growing is further attributed to evolving reimbursement scenario for nerve monitoring procedures across developed countries

Ambulatory Surgical Centres

Ambulatory surgical centers (ASCs) are healthcare facilities wherein selected surgical and medical services are provided outside the hospital setting. Positive demand growth of nerve monitoring systems in ASCs is driven by the increasing number of reimbursed medical procedures under the ASC payment system in the US and rising number of minimally invasive surgeries performed among ASCs.

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.

North America accounted for the largest share of the nerve monitoring system market

Geographically, the Nerve Monitoring Devices Market is segmented into North America, Europe, Asia, and the Rest of the World. North America is estimated to account for the largest share of the market in 2017, which is driven by the presence of a large patient population accompanied by a well established medical reimbursement policy.

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Global Leaders:

The major players of the nerve monitoring system 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).

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