The Global Intraoperative Neurophysiological Monitoring Market size is touted to expand at an 8.9% CAGR from 2016 to 2027 (forecast period), according to a report by Market Research Future (MRFR). Its valuation is projected to reach USD 3.1 Bn. by 2027. Intraoperative Neurophysiological Monitoring Market Information, by type (EEG, EMG, Evoked Potential (EP)) by Method (Invasive, Non-Invasive, Minimally Invasive) by Source (In-house, Outsource, Tele-Health), by Procedure – Global Forecast to 2027
Intraoperative Neurophysiological Monitoring Market – Insights
Intraoperative Neurophysiological Monitoring (IONM) or intraoperative neuromonitoring cover a range of electrophysiological methods to monitor the functions of nerves during surgeries. Awareness of IONM methods among patients is anticipated to drive market demand during the forecast period.
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Adoption of IONM methods among hospitals is anticipated to boost market revenues till 2027. Factors such as technological advances in medical equipment, cost-effectiveness, and rise in numbers of spinal and cranial procedures are expected to boost market growth over the forecast period. Investments by reputed players in developing economies can create awareness and open up expansion opportunities. Increasing focus on patient safety and demand for inexpensive healthcare packages are anticipated to evoke market demand over the forecast period.
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.
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Intraoperative Neurophysiological Monitoring Market – Segments
The Intraoperative Neurophysiological Market is divided on the basis of type, procedure, method, source, and region. By type, the market is segmented into electroencephalography (EEG), electromyography (EMG), evoked potentials, and others. The EEG segment had captured nearly 60% market share in 2016.
Major procedures using IONM include neurovascular, spinal, otolaryngology surgeries, orthopedic, urology, and others. The neurovascular segment is anticipated to generate significant revenue for the intraoperative neurophysiological monitoring market till 2027. According to a report by the World Health Organization (WHO), nearly 80% of disorders are neurological, providing scope for IONM devices.
Methods used include invasive, minimally invasive, and non-invasive. The minimally invasive method is expected to bode well for the market due to its demand by patients and desire to avoid readmission in hospitals.
Sources include tele-health, outsource, and in-house. The in-house segment is anticipated to gain revenues due to growing number of surgical procedures requiring constant monitoring. IONM methods can play a vital role in minimizing the mortality rate during surgeries. The outsource segment is touted to grow robustly over the forecast period due to continuous updates in IONM devices. Outsourced centers bear the expenditure and maintenance costs and alleviate the burden on hospitals.
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 Intraoperative Neurophysiological Monitoring Market 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.
Intraoperative Neurophysiological Monitoring Market – Key Finding
- The Global Intraoperative Neurophysiological Monitoring 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.
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