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U.S. Intraoperative Neuromonitoring Market Has Been Moving Toward Outsourced Monitoring To Provide Advanced Treatment Options For Patients Suffering From Chronic Diseases

02-13-2019 10:17 AM CET | Health & Medicine

Press release from: Allied Market Research

U.S. Intraoperative Neuromonitoring Market

U.S. Intraoperative Neuromonitoring Market

The US surgical neurological monitoring market is expected to reach $ 1,938 million by 2022 and is expected to grow at an annual average rate of 6.6% from 2016 to 2022.

The IONM system segment accounted for nearly half of the total market in 2015. These systems help identify neural structures during surgery. This will help the surgeon avoid damage to the nervous system during surgery and reduce postoperative complications. The US IONM market is on the rise due to increased number of surgeries, increased elderly population, increased prevalence of chronic diseases, and increased adoption of IONM during complex surgery.

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The key players profiled in this report include
• Accurate Monitoring LLC.
• Computational Diagnostics Inc.
• Intranerve LLC.
• Inomed Medizintechnik GmbH
• Medtronic Plc
• Moberg Research Inc. (Dayone Medical LLC.)
• Natus Medical Incorporated
• Nihon Kohden Corporation
• Nuvasive Inc.
• Specialtycare.

Depending on the type of source, the US IONM market is divided into outsourcing monitoring and in-service monitoring. Outsourcing monitoring is expected to have the highest CAGR because of advantages over insulation monitoring. Current hospitals generally do not prefer facility monitoring because they can not provide standardized training to improve service quality, as they typically require the appointment of full-time staff with the necessary skills. Therefore, outsourcing monitoring is required by the Hospital and Ambulatory Care Center (ASC).

Depending on products and services, the US IONM market is classified as systems, accessories, and services. The system segment dominates the US IONM market because it plays an important role in all IONM procedures. On the other hand, the service sector is expected to show the fastest market growth during the forecast period due to the increased demand for IONM service providers. Depending on the format, the US IONM market is characterized by physical sensory potential (SSEP), exercise-induced potential (MEP), electromyography (EMG), EEG, visual evoked potential (VEP) and brain stem auditory evoked potential (BAEP). The EMG segment was a major contributor in 2015 and is considered dominant over the forecast period due to its applicability in complex surgeries. However, the BAEP sector is expected to show the fastest market growth during the forecast period due to technological advances and increased BAEP adoption.

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Depending on the application, the US IONM market is classified as spinal surgery, neurosurgery, orthopedic surgery, ENT surgery, vascular surgery and other operations. The spine surgery sector has the highest sales contribution in the US IONM market in 2015 because of the increased number of spinal procedures in the United States and the use of IONM during spinal surgery. However, the orthopedic surgery segment is expected to show the fastest market growth during the forecast period, due to the increase in the adoption of IONM during orthopedic surgery.

State-wise, the market is studied across all the states in U.S., California was the major revenue generating state in 2015, owing to increased usage of IONM procedures, surge in number of neurosurgery & orthopedic surgeries, easy availability of trained medical professionals, presence of developed healthcare infrastructure with higher healthcare spending. However, Washington will witness the fastest market growth over the forecast period, owing to the growing adoption of IONM in various surgical procedures, increasing incidence of chronic diseases, and rising healthcare spending among the population.

Key Finding of the Intraoperative Neuromonitoring Market:
• Based on application, the spinal surgery segment accounted for more than one-fourth of the total market in 2015.
• As per modality, the electromyography (EMG) segment accounted for more than one-fourth of the U.S. market in 2015.
• According to product & service, the IONM service segment is expected to grow at a high CAGR of 9.4% during the forecast period, owing to an increase in the demand for IONM service providers.
• On the basis of end user, the hospital segment accounted for nearly half of the total market share in 2015.
• State-wise, Washington is expected to grow at a CAGR of 10.1% during the forecast period 2016 to 2022.

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About Us:

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

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