Intraoperative Neuromonitoring Market to Reflect Impressive Growth Rate by 2026

Intraoperative neuromonitoring is used to minimize neurological damage during surgery. It identifies important neural structures in the surgical field, and can help avoid and limit postoperative damage or impairment. Major surgeries generally comprise risk to the nervous system and may damage neural functions sometimes. Intraoperative neuromonitoring is usually employed during spine surgery. It can provide valuable information to the surgeon to perform complex operating procedures, preventing the patient from postoperative damage and complications. Thus, it lessens the chances of readmission of the patient to hospital due to postoperative complications. Intraoperative neuromonitoring is used in different surgical procedures, such as, neurosurgery, vascular surgery, orthopedic, ENT surgery, etc.

Increasing number of surgeries, potential risk management, technological advancement, and rise in adoption of intraoperative neuromonitoring by hospitals are the factors contributing to the growth of the intraoperative neuromonitoring market globally. For instance, according to the WHO, 312.9 million operations were performed in 2012 across the world, which was an increase of 38.2% from the estimated 226.4 million operations in 2004. The estimated mean global surgical rate was found to be 4469 operations per 100,000 people per year in 2012 globally. However, high cost of intraoperative neuromonitoring, low awareness of procedures, especially in developing countries, and shortage of skilled surgeons and technicians are expected to negatively impact the growth of the intraoperative neuromonitoring market during the forecast period.

The global intraoperative neuromonitoring market can be segmented based on source type, product, methodology, application, end-user, and region. In terms of source type, the market can be classified into insourced monitoring and outsourced monitoring. Insourced monitoring dominated the intraoperative neuromonitoring market during the forecast period owing to rise in number of surgeries performed and demand for continuous monitoring during the process. Outsourced monitoring is expected to grow significantly during the forecast period due to economical expenses for outsourced monitoring and inversely, higher operating cost incurred at hospitals or insourced monitoring. On the basis of product, the global intraoperative neuromonitoring market can be segmented into systems and accessories. Based on methodology, the market can be categorized into Somatosensory Evoked Potentials (SSEPS), Electromyography (EMG), Electroencephalography (EEG), Brainstem Auditory Evoked Potentials (BAEPS), Motor Evoked Potentials (MEPS), and Visual Evoked Potentials (VEPS). In terms of application, the global intraoperative neuromonitoring market can be divided into spinal surgery, vascular surgery, neurosurgery, ENT surgery, orthopedic surgery, and others. Orthopedic and ENT surgery are lucrative application segments of intraoperative neuromonitoring owing to potential risk to neural structure related to these surgeries. By end-user, the intraoperative neuromonitoring market can be segmented into hospitals and ambulatory surgical centers. The hospitals segment is expected to hold major share of the global intraoperative neuromonitoring market due to increased number of surgeries performed and rise in awareness among people regarding postoperative complications.

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In terms of region, the global intraoperative neuromonitoring market can be segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa. North America was a dominant market for intraoperative neuromonitoring. It is expected to grow significantly and lead the global intraoperative neuromonitoring market, followed by Europe. Rise in prevalence of chronic disorders, presence of highly sophisticated health care infrastructure, high adoption rate of intraoperative neuromonitoring, and increased patient awareness regarding the process are the major factors which drive the intraoperative neuromonitoring market in North America. The intraoperative neuromonitoring in Asia Pacific is expected to grow at a significant CAGR in the next few years due to increasing awareness regarding intraoperative neuromonitoring in patients and growth in medical tourism in the emerging countries in the region, such as, China and India.

The global intraoperative neuromonitoring market is expected to remain moderately concentrated with the presence of a few companies. Key players operating in the global market include Medtronic, NuVasive, Inc., Accurate Monitoring, Natus Medical Incorporated, SpecialityCare, NeuroMonitoring Technologies, Inc. and Inomed Medizintechnik GmbH.

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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materia