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Intraoperative Neuromonitoring Market Size, Share, Trends & Industry Growth Analysis Report to 2023-2030

The global intraoperative neuromonitoring market size was worth around USD 3.4 Billion in 2022 and is predicted to grow to around USD 5.2 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 5.1% between 2023 and 2030.

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➤ The market is experiencing development due to the increasing prevalence of chronic diseases and the aging population.

As the geriatric population continues to expand and becomes more susceptible to chronic disorders, the demand for intraoperative neuromonitoring in a variety of healthcare settings is expected to increase. Furthermore, the Centers for Disease Control and Prevention (CDC) indicates that individuals aged 65 and older are at an increased risk of developing a variety of chronic conditions, including diabetes, cancer, cardiovascular disease, and neurological disorders. According to a Nature Reviews Neurology article, Alzheimer’s disease affects one in ten adults over the age of 65, and the prevalence of the condition increases as age increases. The global intraoperative neuromonitoring market will be stimulated by the necessity of both emergency and non-emergency hospital care for these diseases.

➤ The market’s development is significantly impeded by the exorbitant cost of procedures and devices.

The high cost of IONM equipment and procedures will significantly impede the intraoperative neuromonitoring industry. EEG devices with 1-32 channels can cost between US$ 1,000 and US$ 25,000, while those with more than 64 channels may cost more than US$ 25,000, depending on the number of channels. Portable amplifiers that can record EMG for more than four hours typically cost approximately US$ 20,000.

➤ A lucrative opportunity is presented by technological advancements.

The global intraoperative neuromonitoring market is expected to expand as a result of the development of sophisticated technology, including neurosurgical devices, surgical microscopes, ophthalmic surgical devices, and surgical robots, which is expected to result in less direct human intervention in surgical operations. For example, the NIM Vital nerve monitoring system, which allows physicians to identify, monitor, and validate nerve function in order to reduce the risk of nerve injury during head and neck surgery, was granted 510(k) clearance by the US FDA in October 2020. Consequently, this will contribute to the expansion of the industry during the forecast period.

➤ The scarcity of proficient professionals presents a substantial obstacle.

The market’s expansion is being hindered by a scarcity of competent labor to oversee and maintain intraoperative neuromonitoring setups. Additionally, the absence of awareness of intraoperative neuromonitoring, particularly in emerging nations, is one of the factors that restricts market expansion.

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The Global Intraoperative Neuromonitoring Market is segmented based on product, application and region

Global Intraoperative Neuromonitoring Market: Product Segment Analysis

● Outsource Monitoring
● Insource Monitoring

Global Intraoperative Neuromonitoring Market: Application Segment Analysis

● Hospitals
● Ambulatory Surgical Centers
● Specialty Clinics
● Others

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The global Intraoperative Neuromonitoring market profiles key players such as:

● Nihon Kohden
● Medtronic
● NuVasive
● Natus Medical
● Bovie Medical
● Checkpoint Surgical
● Magstim
● Inomed
● Erbe Elektromedizin
● Dr. Langer Medical
● Computational Diagnostics Inc.
● SpecialtyCare
● IntraNerve LLC
● Accurate Monitoring LLC
● Biotronic Neuronetwork LLC
● Sentient Medical Systems
● Technomed

???? Recent Developments:

• Assure Holdings Corporation, a supplier of intraoperative neuromonitoring services, acquired Sentry Neuromonitoring LLC in February 2021, a significant intraoperative neuromonitoring service provider. Assure Holdings will benefit from the strategic decision, which will strengthen its position in the global market for neuromonitoring products and increase economies of scale.

• Epic Sciences, Inc. announced the addition of DefineMBC, a novel, comprehensive blood-based test for the detection of metastatic breast cancer, to its CLIA laboratory portfolio in April 2022.

➤ The market is anticipated to be dominated by North America during the forecast period.

The global intraoperative neuromonitoring market is anticipated to be dominated by North America during the forecast period. The favorable reimbursement environment and the increasing number of neurological problem cases are the primary factors contributing to its dominance. Each year, approximately 795,000 Americans suffer from a stroke, which leads to 137,000 fatalities, as per the National Institute of Health. Additionally, the Migraine Research Foundation anticipates that 35 million Americans will endure migraine symptoms in 2020.

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