Global Nerve Monitoring Systems Market was valued at USD 1.23 billion in 2020, growing at a CAGR of 4.17% during the forecast period from 2021 to 2026, to reach USD 1.72 billion by 2026. The major factors such as the demand for Nerve Monitoring Systems is primarily motivated by the rise in nerve-related disorder patient population, easy availability of medical reimbursement for these procedures, increasing demand for advanced nerve monitoring products, strong presence of device manufacturers in the market. However, there are certain limitations faced that will hinder the Nerve Monitoring Systems Market growth. The outbreak of the Covid-19 pandemic may hamper the growth of the nerve monitoring system market share. Some of the Nerve Monitoring System Companies with their nerve monitoring products in various stages of development include Medtronic PLC, Nihon Kohden Corporation, Natus Medical Incorporated, Innopsys Inc., Neurovision Medical Products, NeuroWave Systems Inc., Cadwell Industries, Inc., and several others.
DelveInsight’s “Nerve Monitoring System Market Insights and Forecast” report provides the current and forecasted Nerve Monitoring System Market trends for the next five years, upcoming innovation in the devices, individual Nerve Monitoring System market shares, challenges, drivers and barriers, and key competitors in the domain.
Nerve Monitoring System Overview
Nerve monitoring system is the class of medical devices that have been manufactured in order to offer physicians, surgeons, and other healthcare staff information related to patients and their nerve functioning. These nerve monitoring systems especially facial nerve monitoring systems allow a higher reduction in the chances of patients that are suffering from facial nerve injury as they tend to constantly provide information if the patient is at risk for facial nerve injury or not. The rise in the number of obstructive sleep apnea cases will lead to an increase in the demand for nerve monitoring devices, thereby leading to a boost in the overall nerve monitoring devices market growth during the forecasting period.
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Recent Breakthroughs in Nerve Monitoring System Market
In recent years, the Nerve Monitoring System market observed expansions in terms of clinical, commercial, and clinical development.
- On May 24, 2021, Neurosign had launched the new intraoperative nerve monitor, called V4 system for monitoring cranial nerves and spinal nerve roots during surgeries.
- On October 29, 2020, Medtronic had expanded the ENT portfolio with the United States Food and Drug Administration clearance of NIM Vital next-generation intraoperative nerve monitoring system and acquisition of AI Biomed Corporation.
- On February 26, 2019, Alphatec had announced the FDA clearance of an automated SafeOp neuromonitoring system for being used in real-time intraoperative nerve monitoring location and assessing health in patients.
- Thus, owing to the launch of such devices, there will be significant growth in the Nerve Monitoring systems market during the forecast period.
As per DelveInsight, owing to the ongoing commercial and clinical development, there will be rapid growth in the Nerve Monitoring System Clinical Development during the forecast period.
Key Players Proactively Working In the Nerve Monitoring System Market
Key players operating the global market for Nerve Monitoring System contribute a lot to the development of these devices, they are also involved in mergers and acquisitions to strengthen their market position. Some of the companies operating actively in the Nerve Monitoring System included Medtronic PLC, Nihon Kohden Corporation, Natus Medical Incorporated, Innopsys Inc., Neurovision Medical Products, NeuroWave Systems Inc., Cadwell Industries, Inc., and several others.
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COVID-19 IMPACT ANALYSIS on Nerve Monitoring System Market
The market for Nerve Monitoring Systems observed a period of slow growth due to the outbreak of COVID-19. Owing to the closing down of manufacturing companies, shortage of raw materials, transport-related restrictions and lessened patient visits to the hospitals, the nerve monitoring systems market growth had witnessed stagnancy during this period. All forms of elective procedures were temporarily stopped, only patients suffering from COVID-19 were given priority. Since there was no specific treatment for patients suffering from COVID-19, therefore, the treatment provided to the critically-ill patients was completely supportive.
There were certain COVID-19 affected patients that required neuromonitoring. Therefore, it can be said that the nerve monitoring system was slightly positively influenced during the outbreak of the COVID-19 pandemic. Also, after the relaxation given in lockdown guidelines, hospitals and other medical facilities have resumed regular patient visits, so there is again a high demand for nerve monitoring systems which is driving the market growth and will continue during the forecast period. Furthermore, the global nerve monitoring systems market by product type is bifurcated into Nerve Monitors and Nerve Stimulation Electrodes & Probes.
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Scope of the Nerve Monitoring System Market Report
- Geography Covered: Global
- Study Period: 2021-2026
- Market Segmentation by Nerve Monitoring System Product– Electromyography (EMG), Electroencephalography (EEG), Electrocorticography (ECOG), Evoked Potential (EP)
- Market Segmentation By End-User – Hospitals, Ambulatory Surgical Centers
- Market Segmentation By Geography – North America, Europe, Asia-Pacific, Rest of World
- Key Nerve Monitoring System Companies in the Market – Medtronic PLC (MDT), Nihon Kohden Corporation (NHNKY), Natus Medical Incorporated (NTUS), Innopsys Inc. (IOSP), Neurovision Medical Products (NMP), NeuroWave Systems Inc., Cadwell Industries Inc. (CWLPF), and several others
- Porter’s Five Forces Analysis
- Product Profiles
- Case Studies
- KOL’s Views
- Analyst’s View
Table of Content
- Report Introduction
- Executive summary
- Regulatory and Patent Analysis
- Key factors analysis
- Porter’s Five Forces Analysis
- COVID-19 Impact Analysis
- Nerve Monitoring Systems Market layout
- Nerve Monitoring Systems Global Company Share Analysis – Key 3-5 Companies
- Nerve Monitoring Systems Company and Product Profiles
- Project Approach
- KOL Views
- DelveInsight Capabilities
- Disclaimer
- About DelveInsight
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Key Takeaways from the Nerve Monitoring System Market Report Study
- Market size analysis for current market size (2020), and market forecast for 5 years (2021-2026)
- The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Nerve Monitoring Systems market.
- Top key product/services/technology developments, merger, acquisition, partnership, joint venture happened for last 3 years
- Key companies dominating the Global Nerve Monitoring Systems Market.
- Various opportunities are available for the other competitor in the Nerve Monitoring Systems Market space.
- What are the top-performing segments in 2020? How these segments will perform in 2026.
- Which are the top-performing regions and countries in the current market scenario?
- Which are the regions and countries where companies should have concentrated on opportunities for Nerve Monitoring Systems market growth in the coming future?
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