Intraoperative Neuromonitoring Market | Size, Share, and Forecast [2021-2031]
The intraoperative neuromonitoring market was valued at US$ 2.71 billion in 2021 and is expected to reach US$ 5.64 billion by 2031. The market is expected to register a CAGR of 7.60% in 2023–2031. Technological advancement will likely remain key intraoperative neuromonitoring market trends.
Intraoperative Neuromonitoring Market Analysis
Intraoperative neuromonitoring (IONM) drivers are the healthcare providers in charge of performing and interpreting neuromonitoring during surgical procedures. These individuals are usually highly trained neurophysiologists or technicians who use various monitoring techniques to assess the nervous system's functional integrity in real-time. Continuous technological development was improving the capabilities of IONM systems, allowing for more accurate and real-time monitoring during surgical procedures. The use of IONM was growing as surgeons and other medical professionals. In addition to improving patient safety, IONM reduces the risk of nerve damage by aiding in real-time nervous system monitoring during surgeries. To improve outcomes and reduce postoperative issues, surgeons use IONM to identify and treat potential surgical complications, such as nerve compression or damage. The need for IONM services to enhance patient safety during complicated procedures is growing as more surgeries are carried out. More surgeries lead to greater use of IONM, especially those involving delicate neural structures. To summarize, the increase in medical procedures impacts interoperative neuromonitoring, driving progress, growing the labor force, and highlighting the significance of integrating neuromonitoring into routine surgical procedures.
Intraoperative Neuromonitoring Market Overview
IONM, one of the fastest-growing subfields in neurology, uses electrophysiological technology to identify nervous structures that require protection during neurosurgical procedures and to see what is happening throughout the body. In general, recordings of electrical potentials flowing through the nervous system during surgery are used to monitor and map electrical signals in the body through neurologist-led IONM. IONM uses various techniques, each selected for highly particular uses. Moreover, several modalities may be used in the same surgery, depending on the selected procedure. Electroencephalography (EEG), somatosensory evoked potentials (SSEPs), visual evoked potentials (VEPs), brainstem auditory evoked potentials (BAEPs), motor evoked potentials (MEPs), electromyography, and other techniques may be used. Patients undergoing a wide range of central nervous system surgeries, such as interventional radiologic procedures, orthopedic spinal correction, epilepsy surgery, and craniofacial neurosurgery, can benefit from these techniques. Although it can be applied to other fields like vascular and endocrine surgery, it is most frequently used with spinal, epilepsy, brain tumors, and cerebrovascular surgery.
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Intraoperative Neuromonitoring Market: Strategic Insights
Market Size Value in US$ 2,341.92 Million in 2019 Market Size Value by US$ 4,199.95 Million by 2027 Growth rate CAGR of 7.6% from 2020-2027 Forecast Period 2020-2027 Base Year 2020
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Intraoperative Neuromonitoring Market: Strategic Insights
| Market Size Value in | US$ 2,341.92 Million in 2019 |
| Market Size Value by | US$ 4,199.95 Million by 2027 |
| Growth rate | CAGR of 7.6% from 2020-2027 |
| Forecast Period | 2020-2027 |
| Base Year | 2020 |
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Intraoperative Neuromonitoring Market Drivers and Opportunities
Rising Use of Intraoperative Neuromonitoring to Favor Market
Ion Mapping and Microsurgery (IONM) enhances patient safety by helping surgeons avoid damage to critical brain structures and reduce the risk of complications during procedures by providing them with real-time feedback. During procedures, especially those involving proximity to vital nerves, surgeons can achieve precise navigation by employing IONM to monitor the functional integrity of the nervous system. IONM helps in the early detection of potential issues by lowering the risk of complications like nerve damage, paralysis, or sensory loss both during and after surgery. The combination of these factors underscores the importance of intraoperative neuromonitoring in modern surgical settings, advancing its adoption as standard practice in many procedures.
Increase in Product Launches and Approval – An Opportunity in Intraoperative Neuromonitoring Market
Due to rising global demand from a sizable population, the healthcare sector is constantly expanding, increasing new product development, launches, and approvals. Major market players also invest in research and development to promise innovation and create effective products. For instance, in October 2023, a revolutionary feature of the Neuromaster G1 intraoperative neuromonitoring (IONM) system is the One View solution, introduced by Nihon Kohden, a leading global manufacturer of medical electronic equipment. This novel approach enables the IONM software to seamlessly integrate neurological data with the patient's vital signs, such as heart rate, SpO2, temperature, and more, while maintaining the patient's anesthesia.
Intraoperative Neuromonitoring Market Report Segmentation Analysis
Key segments contributing to the intraoperative neuromonitoring market analysis derivation are product, source, application, modality, and end user.
- Based on product, the intraoperative neuromonitoring market is divided into systems, accessories, services. The systems segment held a larger market share in 2023.
- By source, the market is segmented into insourced monitoring, outsourced monitoring.
- In terms of application, the market is divided into spinal surgery, neurosurgery, vascular surgery, ENT surgery, orthopedic surgery, and other surgeries.
- By modality, the market is segmented into motor evoked potentials, somatosensory evoked potentials, electroencephalography, electromyography, brainstem auditory evoked potentials, visual evoked potentials.
- Based on end user, the intraoperative neuromonitoring market is categorized into hospitals, ambulatory surgical centers.
Intraoperative Neuromonitoring Market Share Analysis by Geography
The intraoperative neuromonitoring market report's geographic scope is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America.
North America has dominated the intraoperative neuromonitoring market. In North America, the U.S. is the largest market for intraoperative neuromonitoring in 2023. Moreover, Asia Pacific is anticipated to grow with the highest CAGR in the coming years. IONM was becoming increasingly popular in Asia-Pacific due to rising awareness, advancements in technology, and an increase in surgical procedures. The growing demand for cutting-edge healthcare solutions and an understanding of the advantages of neuromonitoring during surgical procedures drive the growth of the Asia-Pacific IONM market. Major hospitals and healthcare facilities in the Asia-Pacific area have adopted IONM as a standard procedure for complex surgeries to improve patient safety. IONM is widely used in orthopedic and spine surgeries in the Asia-Pacific region, where there is a significant need to monitor neural structures during these procedures.
Intraoperative Neuromonitoring Market Report Scope
Intraoperative Neuromonitoring Market News and Recent Developments
The intraoperative neuromonitoring market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for Intraoperative Neuromonitoring and strategies:
- MPOWERHealth, a pioneer in the field of intraoperative neuromonitoring (IONM), announced the strategic acquisition of Assure Neuromonitoring's operations in pivotal markets, marking a significant step in expanding its best-in-class intraoperative neuromonitoring (IONM) services. The targeted acquisition boosts MPOWERHealth's patient coverage to over 55,000 annually, solidifying its role as a leader in advancing surgical safety and patient outcomes (Source: MPOWERHealth Company Name, Newsletter, 2024)
- Brainlab, a digital medical technology company, announced the acquisition of Dr. Langer Medical GmbH. Based in Waldkrich, Germany, the family-owned company specializes in the development of intraoperative neuromonitoring solutions and related equipment for surgical interventions. (Source: Brainlab AG Company Name, Press Release, 2022)
Intraoperative Neuromonitoring Market Report Coverage and Deliverables
The “Intraoperative Neuromonitoring Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Market dynamics such as drivers, restraints, and key opportunities
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
- Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments
- Detailed company profiles
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product ; Source ; Application ; Modality ; End User ; and Geography
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States
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- Data Collection and Secondary Research:
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Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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