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Global Intraoperative Neuromonitoring Market – by Product Category, Source Type, Application, Modality, End User, Region (2018 - 2025)
Intraoperative Neuromonitoring Market – Segmented by Product Category, Source Type, Application, Modality, End User, Region | Market Size, Growth, Drivers, Trends, Industry Structure and Forecasts, Competitive Intelligence, Company Profiles | MarkGenes
Intraoperative Neuromonitoring (IONM), also known as Intraoperative neurophysiological monitoring is a technique that provides real time status of nerves and the spinal cord during surgeries. It helps to protect patients during the surgery by providing crucial information on the functionality of the patient’s nervous system and helps in detecting injuries before they become any kind of post-operative complications thereby reducing the risk of complications such as muscle weakness, paralysis, hearing loss, and other normal body functions.
The global intraoperative neuromonitoring market was USD 3145.47 million in 2018 and is estimated to reach USD 4892.22 million by 2025 at a CAGR of 6.51% during the forecast period
Growth by Region
North America dominates the global market owing to the presence of large number of hospitals, increase in number of surgeries, awareness among people for IONM, rise in geriatric population and increase in incidence of spinal deformities. This technique is accepted as a standard of care by the medical community and new neurosurgeons are being trained to adopt this technique which provides growth opportunities in the region. Asia-Pacific is expected to grow at a considerable CAGR during the forecast period and it is expected to have the fastest growth among other regions owing to factors like rise in number of surgeries, developing economies, growing capacity of patients to opt for expensive procedures, presence of large patient pool and growth opportunities in terms of unmet needs for IONM services.
Drivers vs Constraints
The factors that drive the growth of the market includes rising prevalence of neurological disorders, increasing number of surgical failure leading to post-operative damage, increasing awareness of patient safety, growing neurological centers, increasing adoption of IONM during complex surgeries, healthcare expenditure for R&D to manufacture newer and innovative technologies and favourable reimbursement policies. Lack of skilled healthcare professionals, low awareness of IONM in developing nations and high cost of devices and services are some of the factors that limits the growth of the market.
Industry Trends and Updates
NuVasive Clinical Services on October 8, 2018 was awarded sole source supplier contract of Intraoperative Neuromonitoring services with Premier. Premier is a leading healthcare improvement company, this contract allows Premier members the option to take advantage of special terms and pricing. In April 2017, Moberg ICU Solutions received USD 3 million from Micromed SAS for the purpose of supporting product sales and continued innovation in the precision management of brain injured patients. In January 2017, Medsurant announced its partnership agreement withCapstone Health Alliance in the IONM service line.
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