According to a new report by Grand View Research the global intraoperative neuromonitoring market size is expected to reach USD 3.6 billion by 2025. The market is anticipated to witness a promising growth over the forecast period. This can be attributed to the hospitals adopting intraoperative monitoring in a wide spectrum of surgeries.
Modern-day surgeries pose high risks to the nervous system and requires neuromonitoring. This has resulted in the rising popularity of intraoperative neuromonitoring (IONM) among surgical teams, hospitals, and surgeons. It results in reduced cases of postoperative complications, revision surgeries, and permanent impairment. Industry players are incorporating merger and acquisition of smaller companies to expand their product offerings and geographical presence. For instance, in June 2016, Biotronic NeuroNetwork, LLC, headquartered in Michigan, was acquired by NuVasive, Inc., in a transaction worth USD 98 million.
Intraoperative Neuromonitoring Market Report Highlights
• Based on the type, insource IONM was valued at the highest revenue share in 2015 due to a rising number of surgeries and the need for monitoring of vital stats during surgical procedure.
• Based on the type, outsource IONM is the fastest growing and is gaining immense due to the continuous improvement phase, resulting in constant modification of these devices.
• Based on region, North America accounted for the highest revenue in the intraoperative neuromonitoring market in 2015, followed by Europe. This is attributed to a favorable reimbursement scenario in the region and is mainly responsible for the market growth.
• Asia Pacific is anticipated to observe the fastest growth over the coming years. The rising number of surgeries, developing economies, growing capacity of patients to bear expenses, and the presence of a large patient pool are few factors contributing to this growth.
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Intraoperative Neuromonitoring Market Segmentation
Grand View Research has segmented the global intraoperative neuromonitoring market by type and region:
Intraoperative Neuromonitoring Type Outlook (Market Revenue in USD Million, 2014 – 2025)
• Insourced IONM
• Outsourced IONM
Intraoperative Neuromonitoring Regional Outlook (Market Revenue in USD Million, 2014 – 2025)
• North America
• The U.K.
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
List of Key Players of Intraoperative Neuromonitoring Market
• Natus Medical Incorporated
• Accurate Monitoring
• NeuroMonitoring Technologies
• Biotronic NeuroNetwork, LLC
• NuVasive Inc.
• Sentient Medical Systems
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