Intraoperative Neuromonitoring Market Insights, Future Strategies By 2023

The major driving factors for the intraoperative neuromonitoring (IONM) market are the rising chronic disease prevalence, geriatric population, and application of IONM during surgeries. In 2023, the market is projected to grow to $5.4 billion, at a 7.2% CAGR during the forecast period (2017-2023). IONM refers to the tracking of the functioning of the peripheral and central nervous systems of patients undergoing surgeries, by measuring the electrical signal transmission in the spinal column, eloquent cortexes, and peripheral nerves, to reduce the chances of surgical complications and improve the patient outcome.

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Outsourced and insourced are the two bifurcations under the source type segment of the IONM market, of which the insourced bifurcation led it in 2016, with a 60.0% share. However, during the forecast period, the outsourced bifurcation is predicted to observe faster growth and generate the higher revenue in 2023. This is attributed to the increasing focus of hospitals on reducing their operational expenditure, by outsourcing IONM to third-party firms, rather than hiring and training technicians themselves.

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The operations performed range from a simple cataract surgery to complex ones involving doctors from multiple subspecialties. Regardless of how trained surgeons are, there is always a margin for error, which can impair the nervous functions. To deal with this, intraoperative monitoring is being increasingly used, especially in long and complex procedures. By displaying the nerve signals as waves on a screen, the technique helps instantly identify any unwanted event during operation, so the problem can be rectified as soon as possible.

Thus, the market for intraoperative neuromonitoring will continue to prosper, with the rising number of chronic disease patients, expanding application of IONM, and increasing volume of operations.

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