The Global Intraoperative Neuromonitoring Market accounted for $2,400.0 million in 2022; it is anticipated to produce a revenue of $3,413.0 million by the end of 2031 at a 4.5% CAGR, according to Research Dive.
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Intraoperative neuromonitoring is also called as intraoperative neurophysiological monitoring and is implemented in electro-physiological procedures such as electroencephalography and electromyography. Intraoperative neuromonitoring arrangements play significant role in the controlling and monitoring of practical integrity of various neural constructions including nerves, brain, ENT and spinal cord throughout the operations. The purpose of intraoperative neuromonitoring is to reduce the patient risk during the surgeries.
Intraoperative Neuromonitoring Market Drivers: The Global Intraoperative Neuromonitoring Market is significantly driven by aspects such as rising number of aged people globally and rising number of patients suffering from chronic disorders. In addition, rising awareness about intraoperative neuromonitoring systems for patient safety while surgery and increasing in implementation of intraoperative neuromonitoring arrangements by emergency hospitals are anticipated to fuel the market growth. Moreover, increasing acceptance of intraoperative neuromonitoring for various surgeries including orthopedic and ENT will further boost the growth of the market.
Cost of treatment with intraoperative neuromonitoring is very high; it is acting as a limitation for the market growth. Moreover, lack of skilled labor for the monitoring control systems is also expected to hinder the market size.
Growing popularity of medical tourism is projected to create huge investment opportunities in the global intraoperative neuromonitoring market. Moreover, continuous rise in technical improvements in intraoperative neuromonitoring systems is estimated to enhance the market growth in the near future.
The global intraoperative neuromonitoring market is segmented into monitoring type and application.
By monitoring type, the market has been classified into insourced monitoring and outsourced monitoring. In these, outsourced monitoring is estimated to experience a remarkable growth and is expected to reach $1,658.7 million by 2031. The global market has dominated by insourced monitoring; it generated over $1,401.6 million in 2022 and is anticipated to continue its dominance in the coming time.
By application, the market is segmented into neuro & spine surgeries, cardiovascular surgeries, ENT surgeries and orthopedic surgeries. Among these, the market for neuro & spine surgeries segment is expected to lead the global market size and is estimated to continue its growth during the forecast period. Besides neuro & spine surgeries, the market for ENT surgeries and orthopedic surgeries are anticipated to grow at significant rate and estimated to produce enormous growth opportunities in the global market during the estimated time.
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Geographically, the global intraoperative neuromonitoring market is analyzed across the regions including North America, Europe, Asia-Pacific and LAMEA. Among these, North America accounted for majority of the intraoperative neuromonitoring market size; it generated $1,231.0 million in 2022 and is projected to register $1,662.1 million in the 2031. The market for Asia-Pacific is predicted to grow at a notable rate of 5.6% CAGR and is estimated to generate major revenue in the coming years.
The key manufacturers in the global intraoperative neuromonitoring market are Cadwell Industries, Inc., NuVasive, Inc., NIHON KOHDEN CORPORATION, IntraNerve Neuroscience Holdings, LLC, Medgadget, Inc., Moberg Research, Inc., Medtronic, Accurate Monitoring, Medsurant Health, NeuroMonitoring Technologies, Inc. and Computational Diagnostics, Inc. The key manufacturers are continuously increasing their efforts to improve the product performance and quality to raise their market share in the global market. These are the most frequent approaches followed by the manufacturers to gain highest market size in the intraoperative neuromonitoring industry.
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