Global Intraoperative Neuromonitoring Market By Type (Insourced and Outsourced), By End-User (Hospital and Ambulatory surgery center), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Intraoperative Neuromonitoring Market Overview:

The global intraoperative neuromonitoring market was valued at USD 3,122 million in 2021. It is expected to grow at a CAGR of 5.3% between 2023 and 2032.

This market’s growth can be attributed to patient safety and the increasing prevalence of chronic disorders such as stroke, epilepsy, and Alzheimer’s disease. The WHO estimates that neurological disorders affect hundreds of millions of people around the world. Worldwide, approximately 15.9 million people suffer from cerebral stroke each year. This has contributed to the expansion of the market.

Global Intraoperative Neuromonitoring Market Scope:

Type analysis

Insourced products dominated the market, accounting for 56% of global revenue in 2021. This is due to the increased frequency of procedures and the need for vital statistics to be closely monitored throughout each procedure.

Hospitals are now using IONM and a team of training technologists to oversee the neurologists and physiologists performing procedures. Although there are no established guidelines for neuromodulation devices being used, it is expected that this practice will become more widespread as there is increased demand.

With a CAGR exceeding 6.3% for 2021, the outsourced segment will see the most growth. Hospitals and healthcare centers often outsource their IONM requirements because of cost-effectiveness and the availability of dedicated service providers.

The IONM devices are constantly being improved and modified. Hospitals can outsource this equipment to reduce the financial burden of maintaining and purchasing it. It is also costly and time-consuming for neurophysiologists to be trained.

They also have to be up-to-date with new technologies. These factors all contribute to the preference for outsourcing IONM. Industry players are also acquiring smaller companies in order to increase their product range. The segment growth is expected to be accelerated by this acquisition. Specialty Care provides the largest range of outsourced IONM services for patients in hospitals, surgery centers, and other health care facilities.

End-User Analysis

The IONM market can be divided into two segments depending on the end-user: hospital and ambulatory surgery center (ASC). In 2021, the hospital segment was the largest revenue contributor. It is expected to continue its dominance over the forecast period as most critical surgical procedures can be performed in hospitals.

The hospital segment will also grow due to an increase in hospitals and the number of surgeries. Additionally, hospitals will see an increase in outsourced monitoring. The ambulatory surgical center segment will experience rapid growth due to the increase in the number of surgeries performed within these centers.

Кеу Маrkеt Ѕеgmеntѕ

By Type

• Insourced
• Outsourced

By End-User

• Hospital
• Ambulatory surgery center

Market Dynamics:

The intraoperative neuromonitoring market (IONM) will be affected by the COVID-19 pandemic. Hospitals around the globe have delayed and postponed elective surgery to different degrees in order to allocate and direct medical supplies and to respond to the COVID-19 response. Because some hospitals have made it more difficult for manufacturers to reach their surgeon customers or restrict their access, they have had to make adjustments to their access regulations. They saw a decline in procedure volume in 2020, which will likely hinder growth.

Market growth is expected despite the pandemic. However, an increase in neurovascular disorders will drive the demand for intraoperative neuromonitoring devices that are minimally invasive/noninvasive. Many countries have also relaxed lockdown restrictions and recommenced elective surgeries. The market is expected to grow and recover over the forecast period.

To address supply chain disruptions, companies have used strategies like rerouting logistics and sourcing from other partners. Major companies are also planning to expand geographically and open more warehouses in different areas in order to meet growing demand. These factors will lead to lucrative growth opportunities.

In addition to the above, intraoperative neuromonitoring will be more important in healthcare settings due to the increasing number of people who are older and more likely to develop chronic diseases. According to the CDC, people 65 and older are more likely than others to develop heart disease, COPD, and diabetes, as well as neurological problems and other chronic diseases.

A Nature Reviews Neurology article published in September 2019 stated that Alzheimer’s disease affects 1/10 of those over 65 and that its prevalence increases with age. Market growth is expected to be driven by the demand for both emergency and non-emergency hospital treatment for patients suffering from these diseases.

Regional Analysis

North America was the dominant market, accounting for 51.1% of global revenue in 2021. This dominance is due to the favorable reimbursement situation and rising cases of neurological disorders.

According to the National Institute of Health in the USA, each year, around 8,00,000 Americans suffer from strokes, which result in 140,000 deaths. According to the Migraine Research Foundation in the United States, approximately 40 million people will suffer from migraine headaches by 2021.

The Asia Pacific is expected to grow at a rate of 5.5%. Over the forecast period, emerging economies such as India, Japan, and South Korea will experience significant growth. Market growth may be boosted by the presence of many local players in China, Japan, and South Korea. The market will be driven by the rising geriatric population and the increase in traumatic brain injury cases.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Intraoperative neuromonitoring device sellers are increasing their efforts to get their products cleared so they can begin mass production. To strengthen their market position, market players have adopted various strategies, including mergers & acquisitions and partnerships, product launches, and innovation.

In 2017, Safe Passage Health announced that NuVasive, a private supplier of IONM services and NuVasive had signed a formal agreement. NuVasive Clinical Services (NCS) would continue to be the US’s largest provider of outsourced IONM services by acquiring Safe Passage.

The company has over 3,000 doctors & supervisor physicians and 552 neurophysiologists. Market players are increasing their R&D capabilities in order to implement safe and simple medical practices. This will help to boost the market growth.

Маrkеt Kеу Рlауеrѕ:

• Natus Medical Incorporated
• NeuroMonitoring Technologies
• Biotronic Neuro Network, LLC
• NuVasive Inc.
• Sentient Medical Systems
• Accurate Monitoring LLC
• Computational Diagnostics, Inc.
• IntraNerve, LLC
• inomed Medizintechnik GmbH
• Medtronic plc.
• Other Key Players

For the Intraoperative Neuromonitoring Market research study, the following years have been considered to estimate the market size: