Global Intraoperative Neuromonitoring Market to Surpass USD 4.19 Billion By 2027

June 18, 2020

According to the research report titled ‘Intraoperative Neuromonitoring Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product; Source; Application; Modality; End User, available with Market Study Report LLC, global intraoperative neuromonitoring market generated revenues worth USD 2,341.92 million in the year 2019 and is expected grow with a CAGR of 7.6% during the forecast period, subsequently accounting for USD 4,199.95 million by the year 2027.

High occurrence of neurological disorders and rapid advancements in neuromonitoring systems are major factors driving the growth of intraoperative neuromonitoring market. These technological developments in neuromonitoring have allowed surgeons to reduce the risk associated with CNS (central nervous system) surgeries. It has further enabled improved patient monitoring during surgeries.

In February 2018, the Centers for Medicare & Medicaid Services provided clearance to NuVasive Inc. to deploy SpineTRACK Registry which enables surgeons to utilize real-time data in order to make quick medical decisions. In fact, Alphatec Holdings Inc. acquired FDA approval for its remote operated SafeOP neuromonitoring system in February 2019. The product provides real-time health assessment and intraoperative nerve location solutions. However, lack of skilled expertise may act as a restraining factor to the overall market growth.

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As per product type, intraoperative neuromonitoring industry is split into services, systems and accessories. Although the systems segment accounted for a substantial market share in the year 2019, the services segment is anticipated to showcase robust CAGR through 2026.

In terms of source type, the market is divided into insourced monitoring and outsourced monitoring. Whereas by application scope, the industry is categorized into orthopedic surgery, ENT surgery, vascular surgery, neurosurgery, spinal surgery and others.

Based on modality, the market is classified into visual evoked potentials, brainstem auditory evoked potentials, electroencephalography, somatosensory evoked potentials and motor evoked potentials. Citing the end-use landscape, intraoperative neuromonitoring industry is fragmented into ambulatory surgical centers and hospitals.

Moberg Research Inc., SpecialtyCare, NuVasive Inc., Nihon Kohden Corp., Natus Medical Inc., inomed Medizintechnik GmbH, IntraNerve Neuroscience Holdings LLC, Computational Diagnostics Inc., Accurate Monitoring and Medtronic are the key participants of global intraoperative neuromonitoring industry.

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