Vantage Market Research
Nov 12, 2021
According to analysts at Vantage Market Research, the Intraoperative Neuromonitoring (IONM) Market is expected to reach USD 9.03 Billion by 2028, growing at a CAGR of 6.9% from 2021 to 2028. Intraoperative Neuromonitoring is basically used to monitor neurosurgical devices. This is the primary reason to drive the Intraoperative Neuromonitoring (IONM) Market. This market uses ENT and other neurosurgical methods such as neurosurgical patties, spine implants, and cranial fixation and gained wide traction in the Neurosurgical industry.
Key Findings
- The ENT surgery segment of the Intraoperative Neuromonitoring (IONM) Market is accounted to grow at the highest CAGR of 8% in the forecasted period. The increasing number of ENT surgeries, increases awareness about diseases and increasing clinical trials across the globe are the factors to drive the market growth of the Intraoperative Neuromonitoring (IONM) Market. In addition, the availability of reimbursement facilities, monitoring procedures, and some other technological advancement are expected to drive the growth of the ENT surgery segment during the forecast period.
- The hospital segment of the Intraoperative Neuromonitoring (IONM) Market is accounted for the highest market growth at a CAGR of 5% during the forecast period. The demand for this segment is higher due to the high growth of medical facilities, and the provision of surgical centers.
- North America accounted for the Intraoperative Neuromonitoring (IONM) market growth at a CAGR of 7.5% in the projected period followed by Europe and APAC. The rising geriatric population, increasing use of invasive surgeries and increased neurological disorders are the major factor fueling the Intraoperative Neuromonitoring (IONM) market growth in this region.
Nerve monitoring devices are used to provide an electrical impulse to identify muscles or nerves for nerve integrity. In addition, various strategies are used by nerve stimulation which includes orthopedic trauma surgeries, neurosurgery, parotid surgeries, and head & neck surgeries. This in turn boosts the market growth of the Intraoperative Neuromonitoring (IONM) Market. Factors such as the increasing number of complex & critical surgeries, increasing awareness about the clinical benefits of parotid surgeries, orthopedic trauma surgeries, head & neck surgeries, and neurosurgery drive the market growth. The Intraoperative Neuromonitoring (IONM) Market is driven by the factors, such as increasing awareness about the clinical benefits, ongoing technological advancements, and increasing spinal cord injuries across the globe are driving the market growth of the Intraoperative Neuromonitoring (IONM) Market.
Asia-Pacific is expected to expand the market at a moderate growth over the forecast period than others. This is due to the good establishment of nursing centers in various countries. The availability of advanced technology instruments and the availability of a large number of medical companies are predicted the growth of the Intraoperative Neuromonitoring (IONM) Market. In addition, increasing population, availability of various options about the treatment, increasing demand for a better healthcare structure, increased awareness about brain tumors and high funding and investments by government in this region witness the high demand of Intraoperative Neuromonitoring (IONM) Market.
Major key players involved in the Intraoperative Neuromonitoring (IONM) Market are Computational Diagnostics Inc., informed Medizintechnik GmbH, Neuro Alert, Medtronic PLC, Natus Medical Incorporated, Neuro Style., Nihon Kohden Corporation, Nuvasive Inc., Specialty Care Inc., Technomed, and among others.