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Intraoperative Neuromonitoring Market Size to Hit Valuation of $4.90 Billion by 2022 | Spinal Surgery, Neurosurgery, Vascular Surgery, ENT Surgery, Orthopedic Surgery

05-05-2021 01:01 PM CET | Health & Medicine

Press release from: Allied Market Research

Intraoperative Neuromonitoring Market

Intraoperative Neuromonitoring Market

IONM would improve intraoperative decision-making, by guiding a surgeons hands during surgery to reduce potential neurological risk. This benefits patients with a better surgical outcome and reduces a surgeons liability to a great extent.

Global Intraoperative Neuromonitoring (IONM) Market was valued at $3,036 million in 2015, and is projected to reach $4,900 million by 2022, growing at a CAGR of 7% from 2016 to 2022, according to a new report published by Allied Market Research.

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COVID-19 scenario-

1) The Covid-19 pandemic and followed by lockdown has affected several manufacturing industries.

2) The prolonged lockdown resulted in a disrupted supply chain and increased the prices of raw materials.

3) However, as the world has been recovering from the pandemic, the market is estimated to get back on track.

IONM systems segment accounted for nearly half of the total market in 2015. IONM systems help in the identification of neural structures during a surgery. This helps the surgeons to prevent any damage to the nervous system, which may be caused during the surgery and reduce post-operative complications. Thus, IONM systems identify any progressive threat to the nervous system and alert the surgeon prior to reaching the patients threshold for injury.

Ageing population, increase in prevalence of chronic disorders, applications of IONM in different surgeries, and risk management through IONM during complex surgeries drive the market. However, low awareness of IONM in developing nations and lack of skilled professionals restrain the market growth. Increase in medical tourism and growth opportunities in the emerging economies of the Asia-Pacific and LAMEA regions are expected to provide several opportunities for key players.

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Outsourced IONM monitoring is growing at a fast pace due to its benefits over insourced monitoring. Now-a-days, hospitals do not prefer insourced monitoring as they have to appoint a full-time employee with the required skill set and they cannot offer the training standardization required to improve the quality of service. Thus, outsourced monitoring is in demand among hospitals and ASCs, and the market gradually shifts toward outsourced monitoring services.

IONM is most commonly used during spinal and neurosurgery. However, there is an increase in the use of IONM for orthopedic as well as ENT surgeries as these surgeries pose a potential risk to the neural structures and require a technique, which protects nerves (and other related structures) during the procedure.

North America accounted for majority of the share (more than two-fifths) in the market in 2015, and is expected to remain dominant throughout the forecast period. This is attributed to the presence of a large number of hospitals, and increase in number of surgeries in the region. In addition, awareness among people for IONM is anticipated to provide new growth opportunities for the key players in this market. In addition, rise in geriatric population, increase in incidence of spinal deformities, spinal stenosis, disc compression, and other chronic disorders drive the IONM market in Europe.

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The Major Key Players Are:

Medtronic plc, NuVasive, Inc., Computational Diagnostics, Inc., SpecialtyCare, Natus Medical Incorporated., IntraNerve, LLC, inomed Medizintechnik GmbH, AccurateMonitoring LLC, Nihon Kohden Corporation, and Moberg Research, Inc.

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About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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