Market Insights
Intraoperative neuromonitoring (IONM) is very crucial in terms of any surgical intervention to avoid or reduce the chances of risk associated with damage to neurological function. The fundamental principle of intraoperative neuromonitoring is to track the electrical potential during surgical procedures in neurological, cardiovascular, or orthopedic surgery. IONM thus helps to prevent complications like paralysis or weakness in muscles or other nerve functions. According to the estimation of the WHO, 266.2 to 359.5 million surgical procedures were performed around the globe, which increased sharply by 38% over a period of eight years. The rising trend of surgeries contributes largely to the growth of the intraoperative neuromonitoring market. The consideration of IONM is important due to the better surgical outcome, increasing number of successful surgical procedures, and patient safety during surgery.
The intraoperative neuromonitoring market is growing exponentially on account of increasing healthcare expenditure, increasing concern for patient safety, government initiatives for healthcare infrastructure development, and favorable reimbursement policies. The rising geriatric population and the increasing prevalence of chronic diseases are the main driving forces behind the growth of the intraoperative neuromonitoring market. However, the lack of skilled health professionals and lack of awareness may pose challenges to the growth of the intraoperative neuromonitoring market.
The purpose of this research study titled “Intraoperative Neuromonitoring Market: Growth, Future Prospects, and Competitive Analysis, 2017–2025” is to provide investors, developers, company executives, and industry participants with in-depth analysis to allow them to take strategic initiatives and decisions related to the prospects in the global intraoperative neuromonitoring market. This report presents and analyses the major trends prevalent in the global intraoperative neuromonitoring market and the market’s size and forecast.
This report categorizes the global scar treatment market in terms of source type, application, and geographical distribution. On the basis of source type, the intraoperative neuromonitoring market is classified into insourced intraoperative monitoring and outsourced intraoperative monitoring.Intraoperative neuromonitoring has wide application in various surgeries to prevent post-operative complications related to the nervous system.
Based on the application, the IONM market can be segmented as follows:
- Spinal surgery
- Neurological Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- ENT Surgery
- Others
Geographically, the intraoperative neuromonitoring market is best understood by segmenting it into five major regions and five major region-level markets, as follows:
- North America
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-east Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The market size and forecast for each considered geographical market are presented in this study for the period 2015-2025, along with CAGRs for the forecast period 2017-2025, and are further cross-sectionally presented in terms of device type, application type, and constituent region/country level markets.
This report also includes qualitative assessment factors such as market dynamics (drivers, restraints, and opportunities) to have a good understanding of the current and anticipated trends in the global intraoperative neuromonitoring market. Competition assessment tools such as major agreements, partnerships, and collaborations, market attractiveness assessment, and competitive landscape analysis by key players are also demonstrated in the study. Furthermore, this report concludes with a profile of key market players currently enjoying prominent positions in the intraoperative neuromonitoring market. The key players profiled in this report are Medtronic plc, Computational Diagnostics, Inc., NuVasive, Inc., Inomed Medizintechnik GmbH, Accurate Monitoring LLC, Nihon Kohden Corporation, Moberg Research, Inc., and others.
Intraoperative neuromonitoring (IONM) is used to record the real-time status of the nervous system to avoid the detrimental effects associated with the damage of the nervous system during high-risk spinal, neurological, cardiovascular, orthopedic, or other surgeries. The high level of patient safety is the main concern, and this fact contributes to the growth of the intraoperative neuromonitoring market.
Depending on the various sources, intraoperative neuromonitoring can be categorized as follows:
- Insourced IONM
- Outsourced IONM
Insourced intraoperative neuromonitoring is when IONM is purchased by medical centers and handled directly by the surgeons or hospital administration, whereas an outsourced IONM facility is when the equipment is outsourced to a third-party agent who operates independently.
Because of the increasing demand for intraoperative neuromonitoring to continuously monitor neuronal function for patient safety and ease of access, insourced IONM is expected to grow significantly. However, the cost and maintenance associated with insourced IONM drive the growth of outsourced IONM. Outsourced IONM, on the other hand, is significantly less expensive than insourced IONM because a single piece of equipment can serve multiple medical centers and hospitals. The improved insights of outsourced IONM handled by highly qualified, trained, and standard professionals reduce the capital costs of hospitals and other medical centers by hiring specialists for the insourced IONM. All these factors are expected to contribute to enormous growth in the outsourced intraoperative neuromonitoring market in the forecasting period.
Intraoperative neuromonitoring (IONM) is a useful technique to assess neuronal function in a real-time manner in high-risk surgeries like neurological surgeries, spinal surgeries, cardiovascular surgeries, orthopedic surgeries, and others. The continuous assessment of the nervous system during surgery is crucial to improving patient safety.
IONM has a wide application in various surgical procedures for safety management to reduce post-operative complications regarding an injury to the nervous system. On the basis of application.
The intraoperative neuromonitoring market is classified as follows:
- Spinal surgery
- Neurological Surgery
- Cardiovascular Surgery
- Orthopedic Surgery
- ENT Surgery
- Others
Neurosurgeries and spinal surgeries are expected to account for the majority of the intraoperative neuromonitoring market. The increasing procedure volume of neurosurgery and spine surgery fuels the growth of the intraoperative neuromonitoring market. Identifying neural activities during surgery aids in guiding immediate interventions if there is any nervous system injury and prevents further complications. A research study showed a reduction in the number of poor surgical results while using intraoperative neuromonitoring.
Rising rates of osteoarthritis and osteoporosis, combined with an aging population, drive orthopedic surgery, primarily joint replacement or reconstruction procedures. Monitoring using IONM throughout the course of elbow and shoulder arthroplasty, total knee replacement, or other orthopedic surgery is, therefore, vital to protecting the nerve from damage, a blood clot, or any artery injury.
Deafness, hearing loss, and eye problems are becoming more common as the geriatric population grows, as is the need for ENT surgical intervention.ENT surgeries are complex in nature, and the involvement of neuromonitoring serves to improve patient outcomes with diminished risk.Geographically, the global intraoperative neuromonitoring market is cumulative for North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.
North America is predicted to have the largest market share in the intraoperative neuromonitoring market, followed by Europe. The well-developed healthcare infrastructure, increasing demand for neurologic care, rising patient safety, and presence of major players in intraoperative neuromonitoring devices all contribute to the dominance of the North American region. The huge number of people suffering from neurologic disorders, emerging medical tourism and developing healthcare infrastructure fuel the growth of the intraoperative neuromonitoring market in the Asia-Pacific region, and it is expected to face substantial growth in upcoming periods due to the growing trend of health awareness.
The detailed regional classification of the global intraoperative neuromonitoring market is as follows:
- North America (U.S. and Canada)
- Europe (Germany, U.K., France, Spain, Italy, and the Rest of Europe)
- Asia Pacific (China, India, Japan, and the Rest of Asia Pacific)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
- Middle East and Africa (GCC plus the rest of the Middle East and Africa)
