The intraoperative neuromonitoring market is expected to reach US$ 4,199.95 million in 2027 from US$ 2,341.92 million in 2019. The market is estimated to grow with a CAGR of 7.6% from 2020 to 2027.
Intraoperative neurophysiological monitoring (IOM) is an integral part of most of the surgical procedures. It has been widely used to prevent the neurological damage caused during number of surgeries, identify neural structures and thereby prevent post-operative impairments. IOM employs a wide range of modalities, which includes motor evoked potentials (MEPs), somatosensory evoked potentials (SSEPs), electroencephalography (EEG), electromyography, brainstem auditory evoked potentials (BAEPs), and visual evoked potentials (VEPs).
Neurological disorders cause a significant number of deaths worldwide. To improvise the diagnosis and treatments of neurological disorders, several government authorities and organizations are offering financial aids and research platforms for researchers across the globe. Biosensors are rapidly becoming part of neuromonitoring. Currently, plethora of biosensors has been developed over in the last decade. A recent example is a RheoSens, neuromonitoring system developed by the Luciole Medical. It is designed to measure blood oxygen levels in the brain for intensive care. Also, many research activities are helping in the development of innovative products. For instance, in September 2019, Checkpoint Surgical received a “Breakthrough Device” designation by the FDA for their “Checkpoint brief electrostimulation therapy (BEST) system”. The system provides electrical stimulation of peripheral nerves for the promotion of nerve regeneration to improve patient recovery time.
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Based on product, the global intraoperative neuromonitoring market is segmented into system, accessories, and services. The source segment is segmented into insourced monitoring and outsourced monitoring. The insourced monitoring held the largest share owing to increasing number of surgeries and compulsory monitoring of vital stats in every surgical procedure. Based on application, the intraoperative neuromonitoring market has been segmented into spinal surgery, neurosurgery, vascular surgery, ENT surgery, orthopedic surgery and other surgeries. The intraoperative neuromonitoring market, by modality, is segmented into motor evoked potentials, somatosensory evoked potentials, electroencephalography, electromyography, brainstem auditory evoked potentials, and visual evoked potentials. Based on end user, the intraoperative neuromonitoring market has been segmented into hospitals and ambulatory surgical centers.
Increasing financial aid from government organizations in the field of brain research is further creating lucrative opportunities for the growth of the market. For instance, The National Institutes of Health is funding US$ 220 million in over 200 researches through the Brain Research through Advancing Innovative Neurotechnologies (BRAIN) Initiative.
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Market leaders operating in the market have undertaken various organic growth strategies in the intraoperative neuromonitoring market. Several organic as well as inorganic approaches, such as product launches, and expansion, mergers & acquisition, collaborations in the intraoperative neuromonitoring market, have resulted in the positive growth of the market. Product launches help the company to strengthen its product offering and the customer base, which allows the company to hold a strong position in the market.
The List of Companies - Intraoperative Neuromonitoring Market
1. Accurate Monitoring LLC
2. Computational Diagnostics, Inc.
3. Intranerve, LLC
4. inomed Medizintechnik GmbH
5. Medtronic
6. Moberg Research Inc.
7. Natus Medical Incorporated
8. Nihon Kohden Corporation
9. NuVasive Inc.
10. SpecialityCare
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