Global Intraoperative Neuromonitoring Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Intraoperative Neuromonitoring Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Intraoperative Nerve Monitoring (IONM) protects the patient by continuously monitoring the central nervous system (brain, spinal cord, and nerves) when in danger during surgery. Depending on the program, various tests can be used to measure nervous system function. The trained clinicians of the sensory testing system continuously monitor the test information under the supervision of qualified professionals. If there are any changes or potential problems, clinicians can immediately alert surgeons and nurses.

Market Overview:

The latest research study on the global Intraoperative Neuromonitoring market finds that the global Intraoperative Neuromonitoring market reached a value of USD 477.64 million in 2022. It’s expected that the market will achieve USD 661.46 million by 2028, exhibiting a CAGR of 5.58% during the forecast period.

Influence of COVID-19 Outbreak on Intraoperative Neuromonitoring Industry Development

With the global outbreak of COVID-19, the most obvious thing for the intraoperative neuromonitoring industry is the postponement of operations in various regions of the world. According to relevant research, during the epidemic period, it may include more than 28 million cancelled or postponed operations, causing a backlog that will take most of the year to clean up. If the lockdown lasts longer, this number may be worse. And, research shows that most cancellations are for benign diseases. Globally, 81.7% of benign surgeries, 37.7% of cancer surgeries, and 25.4% of elective caesarean sections will be cancelled or postponed.
At present, all countries have adopted very strict measures to control the epidemic. With the gradual improvement of the epidemic situation, various operations have gradually recovered. If the normal operation volume increases by 20% after the epidemic, it will take about 45 weeks to clear the backlog of operations. This will increase the demand for intraoperative nerve monitoring to a certain extent.

Market Driver Analysis

In recent years, science and technology have been greatly developed. With the increase in research activities in the field of neuromonitoring, market participants are developing advanced products to maintain market competitiveness, and the advantages of advanced product systems, easy-to-use accessories, and artificial intelligence (AI) The integration of technology and neuromonitoring will promote the growth of the intraoperative neuromonitoring market.
With the increase in spine diseases around the world and the increase in the use of intraoperative nerve testing in orthopedic surgery, the number of spine surgery appointments has surged. In addition, the increase in the number of hospitals and the increase in outsourced monitoring in hospitals have also promoted the growth of the hospital sector. For example, in the United States, the popularity of spinal surgery continues to increase, and the spinal surgery department is the largest revenue contributor to the US IONM market.
Intraoperative nerve monitoring is an important technique that allows the surgeon to focus on optimizing the intervention without causing any damage to the nerve structure. This is like equipping the operation with insurance, which increases the chance of successful operation, and patients are more willing to go for an insurance operation and choose a hospital with intraoperative nerve testing. Therefore, the hospital's potential risk management for surgery is expected to promote the growth of the intraoperative neuromonitoring market.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Medtronic is one of the major players operating in the Intraoperative Neuromonitoring market, holding a share of 31.31% in 2021.

Medtronic plc is one of the world's largest medical technology companies, mainly providing life-long treatment programs for patients with chronic diseases.

Natus Medical Incorporated offers medical equipment, software, supplies and services for the diagnosis, monitoring and treatment of impairments and disorders affecting newborns, the brain, nerves, muscles, balance, mobility and hearing. Natus products are used in hospitals, clinics and laboratories worldwide.

Segmentation Overview:

Among different product types, Systems segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Spinal Surgery segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Intraoperative Neuromonitoring market covered in Chapter 3:

Rhythmlink International
Ad-Tech Medical
Digitimer
Computational Diagnostics
PMT Corporation
Medtronic
inomed Medizintechnik GmbH
Nihon Kohden Corporation
Natus Medical Incorporated
Neurosoft
Cadwell Industries
Ambu

In Chapter 4 and Chapter 14.2, on the basis of types, the Intraoperative Neuromonitoring market from 2018 to 2029 is primarily split into:

Systems
Accessories
Services

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Intraoperative Neuromonitoring market from 2018 to 2029 covers:

Spinal Surgery
Neurosurgery
Vascular Surgery
ENT Surgery
Orthopedic Surgery
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)