Intraoperative Neuromonitoring Market Report 2024 - Market Size, Growth Rate, Major Drivers And Key Trends | Montana Reclaimed Lumber Co., AltruWood Inc., Vintage Timberworks Inc.

"The intraoperative neuromonitoring market size has grown strongly in recent years. It will grow from $3.4 billion in 2023 to $3.66 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to rising incidence of neurological disorders, growing awareness among surgeons, expanding applications in various surgeries, increasing geriatric population, insurance coverage and reimbursement policies.

The intraoperative neuromonitoring market size is expected to see strong growth in the next few years. It will grow to $4.88 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to increasing demand for minimally invasive surgeries, global surge in surgical procedures, growing focus on patient safety, expanding applications in new medical fields, government initiatives and regulations. Major trends in the forecast period include technological advancements, iot-based devices, product innovations, strategic collaborations.

Market Overview -
Intraoperative neuromonitoring is defined as the collection of techniques used during high-risk neurosurgery, orthopedic, peripheral nerve, and vascular surgeries to monitor neural circuits. It monitors susceptible brain structures in real time, allowing surgeons to detect and avoid potential harm.

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The Role Of Intraoperative Neuromonitoring In Addressing The Surge In Prevalence Of Chronic Neurological Disorders
The increase in the prevalence of neurovascular disorders is expected to propel the growth of the intraoperative neuromonitoring market going forward. Neurovascular disorders refer to diseases that last for longer periods of time such as Parkinson's disease, Alzheimer's disease, and epilepsy. Intraoperative neuromonitoring helps assess the integrity of neural structures and consciousness during surgical procedures for various neuro diseases such as Alzheimer's disease. For instance, according to the National Library Of Medicine, a US-based federal government, an estimated 6.2 million Americans age 65 and older are suffering from Alzheimer's dementia and that could increase to 13.8 million by 2060. Therefore, the increase in the prevalence of chronic diseases drives the intraoperative neuromonitoring market.

Competitive Landscape -
Major companies operating in the intraoperative neuromonitoring market report are Montana Reclaimed Lumber Co., AltruWood Inc., Vintage Timberworks Inc., Recycling The Past LLC, Beam and Board LLC, Longleaf Lumber Inc., Sustainable Lumber Company, Imondi Flooring, TerraMai Inc., Elemental Republic SDN BHD, Olde Wood Ltd., Trestlewood Inc., True American Grain Reclaimed Wood, Altholz - Baumgartner & Co. GmbH, Viridian Reclaimed Wood LLC, Moore Manufacturing Inc., RESAWN TIMBER co., Atlantic Reclaimed Lumber LLC, Carpentier Hardwood Solutions NV, Elmwood Reclaimed Timber Inc., Jarmak Corporation, GR Plume Company Inc., Eagle Reclaimed Lumber, Appalachian Woods LLC, Pioneer Millworks LLC, The Hudson Company, The Woodshop of Texas, The Barnwood Farm Ltd., The Old Wood Co., The Woods Company, The Reclaimed Wood Shop, The Lumber Baron Inc., The Reclaimed Barnwood Company, The Old Texas Wood Company, The Wood Cycle of Wisconsin

Advancements In Technologically Advanced Devices Drive Growth In The Intraoperative Neuromonitoring Market
The adoption of technologically advanced devices in intraoperative neuromonitoring is a key trend gaining popularity in the intraoperative neuromonitoring market. Major companies operating in the intraoperative neuromonitoring market are focused on developing new technological solutions to strengthen their position. For instance, in October 2021, NuVasive Inc., a US-based medical devices company launched the Cohere TLIF-O implant, a porous peek implant for posterior spine surgery. This implant is associated with enhanced clinical outcomes and comprehensive surface technology options for posterior spine surgery helping advance the standard of patient care.

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Key Segments -
The intraoperative neuromonitoring market covered in this report is segmented -
1) By Products and Services: Systems, Accessories, Services
2) By Modality: Motor Evoked Potentials, Somatosensory Evoked Potentials, Electroencephalography, Electromyography, Brainstem Auditory Evoked Potentials, Visual Evoked Potentials
3) By Application: Spinal Surgery, Neurosurgery, Vascular Surgery, ENT Surgery, Orthopedic Surgery, Other Surgeries
4) By End User: Hospitals, Ambulatory Surgical centers

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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