Intraoperative Neuromonitoring Market to reach US$ 4,199.95 Mn by 2027 | Top Companies Intranerve, Inomed Medizintechnik, Accurate Monitoring, Computational Diagnostics

The intraoperative neuromonitoring market is expected to reach US$ 4,199.95 million in 2027 from US$ 2,341.92 million in 2019. The market is estimated to grow with a CAGR of 7.6% from 2020 to 2027.

Intraoperative neuromonitoring systems help in the identification of neural structures during a surgery helping the surgeons to prevent any damage to the nervous system. These systems identify any progressive threat to the nervous system and alert the surgeon prior to reaching the patients threshold for injury. The global intraoperative neuromonitoring market is driven by factors such as rising incidences of neurological disorders and increasing technological advancements in the field of neuromonitoring. However, lack of skilled professionals hampers the market growth. Additionally, increasing research activities in the nerve monitoring field is likely to create growth opportunities for the market during the forecast period.

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Accurate Monitoring LLC, Computational Diagnostics, Inc, Intranerve, LLC, Inomed Medizintechnik GMBH, Medtronic Plc, Moberg Research Inc, Natus Medical Incorporated, Nihon Kohden Corporation, Nuvasive Inc, and Speciality Care are among the leading companies operating in the intraoperative neuromonitoring market.

Based on product, the global intraoperative neuromonitoring market is segmented into system, accessories, and services. The system segment held the largest share of the market in 2019; however, the services segment is anticipated to register the highest CAGR in the market during the forecast period. Growing demand of intraoperative neuromonitors is the key factor driving the growth of the segment. Additionally, several key players are focusing in offering intraoperative neuromonitoring services such as SpecialtyCare, Sentient Medical Systems, Medtronic, and Natus Medical and Nuvasive. These factors are likely to enhance the growth of the market during the forecast period.

Key factors driving the growth of the intraoperative neuromonitoring market are rising incidences of neurological disorders and increasing technological advancements in the field of neuromonitoring. Moreover, increasing research activities in the nerve monitoring field are likely to have positive impact on the market in the coming years. However, lack of skilled professionals restricts the market growth.

Moreover, traumatic brain injuries have also increased worldwide, leading to brain-related fatalities. A per the American Association of Neurological Surgeons, approximately 1.7 million cases of traumatic brain injuries (TBI) occur every year in the US. Also, it costs around US$ 48-56 billion annually to the economy. There are approximately 235,000 hospitalizations for TBI every year in the US. Intraoperative neuromonitoring (IONM) is the only option to assess the early symptoms and conditions during emergency brain trauma. These benefits have made it mandatory in neurosurgeries.

The growing prevalence of neurological disorders and increasing emphasis on patient safety during complicated surgeries are driving the growth of the intraoperative neuromonitoring market. Neurological diseases encompass the brain, spine, and the nerve disorders. The neurovascular systems are dependent on the continuous supply of oxygen and nutrients. The supply of oxygen and nutrients to the brain is essential for its working. Therefore, a defect in the system can impair the function and become a life-threatening factor. Neurological complications include stroke and spinal cord ischemia. During recent years, the prevalence of neurological disorders has increased significantly. For instance, the cerebral aneurysm is one of the neurovascular diseases that is rising significantly worldwide. Nearly 30,000 people in the US suffer from brain aneurysm rupture every year.

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