The global intraoperative neurophysiological monitoring market size is touted to expand at an 8.9% CAGR from 2016 to 2027 (forecast period), according to a report by Market Research Future (MRFR). Its valuation is projected to reach USD 3.1 Bn. by 2027. Intraoperative neurophysiological monitoring (IONM) or intraoperative neuromonitoring cover a range of electrophysiological methods to monitor the functions of nerves during surgeries. Awareness of IONM methods among patients is anticipated to drive market demand during the forecast period.
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Segmental Analysis
The segmentation of the intraoperative neurophysiological monitoring market is carried out on the basis of type, procedure, methods, source, and region. Based on type, the intraoperative neurophysiological monitoring market is segmented into electromyography, electroencephalography, and evoked potentials. On the basis of procedure, the intraoperative neurophysiological monitoring market is segmented into otolaryngology surgery, spinal, neurovascular, orthopedic, and urology. The segmentation of the market based on the methods consists of non-invasive, invasive, and minimally invasive. Based on source, the intraoperative neurophysiological monitoring market comprises of outsourced, in-house, and telehealth. By region, the intraoperative neurophysiological monitoring market consists of Europe, Asia Pacific, North America, Middle East, and Africa.
Comprehensive Regional Analysis
The intraoperative neurophysiological market has effectively outreached its business across various corners of the global map. Some of the major areas where its dominance can be observed are North America, Europe, Asia Pacific and Rest of the World.
After an in-depth regional analysis of all the aforementioned regions, the research report by Market Research Future suggests that North America governs the market and accounts for the highest number of market shares. Back in the year 2015, this market held around 65% shares. It is expected to carry over its lead in the upcoming forecast period as well.
Asia Pacific comes next in line and tallies for the second largest share of the market. During the projection span, it is expected to grow at a CAGR of around 9.3%.
Industry News
NuVasive one of the giants of the global intraoperative neurophysiological monitoring (IONM) market recently announced that it has successfully acquired IONM provider SafePassage. This acquisition is anticipated to generate positive results for this market.
Market Players & Key Strategies
The intraoperative neurophysiological monitoring market is an extremely competitive landscape. This market sees the arrival of new players on a regular basis. But there are very few players who have successfully established a name for themselves. Examples of such players are Cadwell Laboratories, NuVasive and Medsurant Holdings.
To stay ahead in the competitive sphere, these players employ certain growth strategies like acquisitions, strategic alliances and investments in research and development activities.
Competitive Analysis
The surge in the market is credited to the presence of favorable market forces are expected to complement the development of the market. The positive reinforcement of the forces of demand and supply is expected to lift the market growth in the coming years. The synergies achieved in the manufacturing of the goods in the market are enhanced, leading to better growth prospects. The availability of productive resources is expected to further the progress of the market in the forecast period. The increased transaction level in the market is expected to spur an accelerated level of growth in the market. The conception of prodigious competitive advantages is likely to support the progress of the market. A considerable ascension in the number of promoters in the market is estimated to form a beneficial outlook for market growth in the projected period. The relaxation of the barriers to the entry of new players in the market is expected to encourage the expansion of the market in the impending years.
The chief competitors in the intraoperative neurophysiological monitoring market are Accurate Monitoring LLC, Argos NeuroMonitoring LP, Computational Diagnostics Inc., Emotiv, Inomed Medizintechnik GmbH, Medsurant Holdings LLC, Cadwell Laboratories Inc., Natus Medical Incorporated, NuVasive, Neuro Alert, NuVasive, Neuromonitoring Technologies Inc., NeuroSentinel LLC, Procirca, Propep Surgical, SpecialtyCare and Sentient Medical Systems.
1 INTRODUCTION
1.1 DEFINITION 13
1.2 SCOPE OF STUDY 13
1.2.1 RESEARCH OBJECTIVE 13
1.2.2 ASSUMPTIONS & LIMITATIONS 14
1.2.2.1 ASSUMPTIONS 14
1.2.2.2 LIMITATIONS 14
1.3 MARKET STRUCTURE: 14
2 RESEARCH METHODOLOGY
2.1 RESEARCH PROCESS: 15
2.2 PRIMARY RESEARCH 16
2.3 SECONDARY RESEARCH 16
3 MARKET DYNAMICS
3.1 DRIVERS 17
3.1.1 INCREASE IN SURGERY VOLUME 17
3.1.2 IONM TECHNIQUES REDUCE HEALTH CARE COSTS 17
3.1.3 INCREASE IN AWARENESS OF IONM 18
3.1.4 SIGNIFICANT REDUCTION IN MORBIDITY AND MORTALITY RATES 18
3.2 RESTRAINTS 18
3.2.1 SHORTAGE OF THE SKILLED PERSONNEL 18
3.3 OPPORTUNITIES 19
3.4 MACROECONOMIC INDICATORS 19
4 INTRAOPERATIVE NEUROPHYSIOLOGICAL MONITORING MARKET, BY TYPE
4.1 ELECTROENCEPHALOGRAPHY 22
4.2 ELECTROMYOGRAPHY 22
4.3 EVOKED POTENTIALS 23
5 INTRAOPERATIVE NEUROPHYSIOLOGICAL MONITORING MARKET, BY PROCEDURE
5.1 SPINAL 27
5.2 NEUROVASCULAR 27
5.3 ORTHOPEDIC 29
5.4 OTOLARYNGOLOGY SURGERY 30
5.5 UROLOGY 31
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