Intraoperative Neurophysiological Monitoring Market – Insights
Market Research Future (MRFR) has announced a new release on the Global Intraoperative Neurophysiological Monitoring Market. The report estimates the Global Intraoperative Neurophysiological Monitoring Market to exhibit a solid CAGR of 8.9% over the forecast period from 2016 to 2027. The Global Intraoperative Neurophysiological Monitoring Market was valued at USD 1.1 billion in 2015.
Intraoperative Neurophysiological Monitoring, as the name suggests, refers to processes and equipment used to monitor the function of neural pathways during surgeries. This helps the surgeons keep a check on the health of neural pathways, cutting the risk of unintended damage. High-risk operations involving the peripheral nervous system, orthopedics, and vascular system are usually accompanied by intraoperative neurophysiological monitoring, as the risk of damage is relatively high in these operations. Intraoperative neurophysiological monitoring has developed fairly recently. However, it has quickly become widely adopted in the healthcare sector, particularly in developing countries, due to the benefits it presents in terms of reducing the risk of unintended complications in surgeries.
The rising demand for surgical procedures involving the spine or the cranial structures is likely to be a major driver for the global intraoperative neurophysiological monitoring market over the forecast period. The increasing occurrence of trauma injuries is thus likely to be a major factor working in favor of the intraoperative neurophysiological monitoring market. Consistent technological advancement in the field of cranial surgeries and the increasing eagerness among surgeons to adopt the latest processes and devices to make surgeries safer and more effective is also likely to be a major driver for the global intraoperative neurophysiological monitoring market over the forecast period.
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Intraoperative Neurophysiological Monitoring Market - Key Players
The major participants of this market are Accurate Monitoring LLC, Argos NeuroMonitoring LP, Cadwell Laboratories Inc., Computational Diagnostics Inc., Emotiv, Inomed Medizintechnik GmbH, IntraNerve, Medtronic, Medsurant Holdings LLC, Natus Medical Incorporated, Neuro Alert, Neuromonitoring Technologies Inc., NeuroSentinel LLC, NuVasive, Procirca, Propep Surgical, SpecialtyCare and Sentient Medical Systems.
Industry/Innovation/Related News:
March 08, 2018 - Alphatec Holdings, Inc. (US), a provider of innovative spine surgery solutions announced the acquisition of SafeOp Surgical, Inc. (US), a privately-held provider of advanced neuromonitoring technology designed to prevent the intraoperative risk of nerve injury with the automated assessment. Simultaneously, the company announced a USD 50 MN capital raise, the proceeds of which were used, in part, to fund the acquisition.
This strategic acquisition marks a transformational moment for the new ATEC. The integration of this key technology into our spine procedures will address unmet clinical needs and improve surgical outcomes in the spine.
Intraoperative Neurophysiological Monitoring Market - Key Finding
• The global IONM market and is expected to reach $3.1 billion by 2027.
• Electroencephalography (EEG) segment holds the largest share of around 60% of the total market.
• North America continues to be the leading market globally, holds the largest market share of around 65% in 2015.
• Globally, Asia-Pacific the fastest growing region and expected to grow at the rate of 9.3% during the forecast period.
• Nuvasive, and Medsurant Holdings, Cadwell Laboratories Inc, are some of the leading market players globally.
Intraoperative Neurophysiological Monitoring Market – Segments
MRFR has segmented its analysis into five key dynamics for the convenience of understanding;
By Types: EMG, EEG, Evoked Potential (EP), and others.
By Methods: Non-Invasive, Invasive, Minimally Invasive, and others.
By Sources: Outsource, In-house, Tele-Health, and others.
By Procedures: Otolaryngology surgeries, Spinal, Neurovascular, Urology, and others.
By Regions: Europe, North America, APAC, and the Rest-of-the-World.
Intraoperative Neurophysiological Monitoring Market – Geographical Analysis
The North America region is estimated to lead the IONM market with a significant market share. Factors such as the growing demand for the spinal and cranial procedures led by the growing number of patients substantiate the market growth of this region.
The IONM market in the European region accounts for the world’s second-largest market. The region is expected to demonstrate healthy growth throughout the review period. Factors driving the market growth include the well-proliferated healthcare sector that is witnessing the growing number of advanced treatment facilities due to the growing demand for better healthcare infrastructure and increasing healthcare expenditures.
The Asia Pacific market for IONM is emerging as a lucrative market with the rising number of patients suffering from spinal disorders and the ever-increasing population that is inclined towards the sedentary lifestyle. Growing funding support from the government and private organizations are fostering the market growth increasing R&D activities in the region.
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