The Global Intraoperative Neuromonitoring (IONM) Market was valued at USD 4.3 Billion in 2020 and is expected to grow at a Compound Annual Growth Rate (CAGR) of 6.9% between 2021 to 2028. The global intraoperative neuromonitoring market is accounted USD 2.04 Billion for the year 2020 and is expected to reach USD 6.75 Billion for the year 2028 according to analysts at Vantage Market Research. Intraoperative neurological monitoring is a method in which the central nervous systems and potentials such as EMG, ECG and evoked potentials are monitored during the surgeries in order to reduce the risk of neurological deficits. The intraoperative neuromonitoring market is driven by the factors such as application in complex surgeries, increase in chronic ailments, and geriatric population increase.
Since the outbreak of the COVID-19, It has widely spread all over the world and has impacted many countries economy and caused huge loses in businesses. The intraoperative neuromonitoring market is experiencing a negative growth due to global health emergency lockdown announced by the government and also unavailability of health facility for a while.
The intraoperative neuromonitoring market is segmented on the basis of source type, application, and end-user. The source type segment is further bifurcated into insource monitoring and outsourced monitoring. The outsourcing sector is holding the largest share and shows potential growth in future forecast. The application segment is divided as spinal surgery, vascular surgery, ENT surgery, orthopedic and neurosurgery. Based on these the ENT, neurosurgery and orthopedic are having the largest share and potential growth for further forecasted years. The end-user segment is divided as hospitals and ambulatory surgical centers. The hospital sector is the largest shareholder and also has potential growth in the forecasted period.
The major players for the Intraoperative neuromonitoring market are Accurate Monitoring, Emotiv, SpecialtyCare, NuVasive, Computational Diagnostics, NeuroSentinel, Checkpoint Surgical, Bovie Medical Corporation, Sentient Medical Systems, Natus Medical, Cadwell, Bromedicon, Advanced Medical Resources, Biotronic NeuroNetwork, and Medtronic.
Regionally, the market is segmented as Asia-Pacific, Europe, North America, the Middle East and Africa and Latin America. Europe attained the highest share due to presence of key players and holding many clinical trials in the region are growing the market.