Intraoperative neurophysiological monitoring (IONM) as the name suggests is a monitoring technique which refers to a group of procedures used during surgery to monitor neural pathways during high-risk neurosurgical, orthopedic, peripheral nerve, and vascular surgeries. These procedures assist surgeons in preventing damage and preserving functionality of the nervous system. IONM is used in most of the surgical procedures. Similar techniques as used in IONM are now used in a few kinds of operations for guiding the surgeon in an operation to help obtain the best results
Globally, the market for intraoperative neurophysiological monitoring (IONM) is gaining significant importance due to growing demand for newly developed IONM techniques, reduced healthcare cost due to the adoption of IONM devices, and among others. The total intraoperative neurophysiological monitoring (IONM) market is expected to reach $3.1 billion by 2027.
On the basis of types, electromyography (EMG) is by far the fastest growing segment of intraoperative neurophysiological monitoring (IONM) market and it is expected to reach $678.1 million in 2027.
Some other factors driving the IONM market are significant reduction in morbidity and mortality rates, increasing awareness of IONM techniques, growing corporate agreements, and such others.
Based on procedures, spinal procedures commands largest market share of global IONM market and it is expected to grow at a CAGR of 8.7% for the period 2016 to 2027. On the other hand, orthopedic segment is expected to be the fastest growing procedures for Intraoperative neurophysiological monitoring market.
Currently, one of the major challenges market is facing is shortage of skilled personnel, which is limiting the growth of global IONM market at a greater extent.
Geographically, North America is one of the major revenue generator as well as producer of IONM devices; this is due to high adoption rate. Also, technological advancements coupled with improved R&D processes is boosting the growth of global intraoperative neurophysiological monitoring market in Asian region.
The leading market players in the global IONM market include; Accurate Monitoring LLC (U.S.), Argos Neuromonitoring LP (U.S.), Cadwell Laboratories Inc. (U.S.), Computational Diagnostics Inc. (U.S.), EMOTIV (Australia), Medtronic (U.S.), NuVasive (U.S.), and others.
Study Objectives of Intraoperative Neurophysiological Monitoring (IONM) Market Development and Demand Forecast to 2027 Market
– To provide insights about factors, influencing and affecting the market growth.
– To provide historical and forecast revenue of the market segments and sub-segments with respect to regional markets and their countries.
– To provide historical and forecast revenue of the market segments based on type, Procedure, procedure, method and source for global intraoperative neurophysiological monitoring market.
– To provide strategic profiling of key players in the market, comprehensively analyzing their market share, core competencies, and drawing a competitive landscape for the market.
– To provide economic factors that influences the global intraoperative neurophysiological monitoring market.
• Medical devices companies
• Research Laboratories
• Hospitals & Clinics
• Component and Raw Material Suppliers
• Service Suppliers
• Potential Investors
• Key executive (CEO and COO) and strategy growth manager
• The global market for intraoperative neurophysiological monitoring is expected to grow at a CAGR of 8.9% during the period 2016 to 2027 to reach $3.1 billion by 2027.
• The Asian and Europe IONM market is expected to grow rapidly during 2016 to 2027; whereas, North America will remain the largest market by 2027.
• By methods, non-invasive segment is expected to witness highest CAGR of 9.3% during the period 2016 to 2027.
• Based on the sources, in-house segment commands the largest market share of global intraoperative neurophysiological monitoring market; registered 60.0% share in 2015
• Cadwell Laboratories Inc., NuVasive, Medtronic, are so far the leading market players for IONM market globally
Regional and Country Analysis of Intraoperative Neurophysiological Monitoring (IONM) Market Development and Demand Forecast to 2027 Market
As per the MRFR analysis, the Asia intraoperative neurophysiological monitoring market is poised to reach $XX billion by 2027, to grow at a CAGR of around 9.3% during the forecasted period.
European market was valued at $ XX million in 2015, and expected to reach at $ 586.7 million by 2027.
North America continues to be the leading region and valued at $714.5 million in 2015.
The reports also cover country level analysis:
- North America
o Rest of Western Europe
o Eastern Europe
o Republic of Korea
o Rest of Asia-Pacific
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