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The Role Of Intraoperative Neuromonitoring In Addressing The Surge In Prevalence Of Chronic Neurological Disorders: Powering Innovation and Expansion in the Intraoperative Neuromonitoring Market by 2025
Intraoperative Neuromonitoring
What Is the Expected CAGR for the Intraoperative Neuromonitoring Market Through 2025?
In the past few years, there has been significant growth in the intraoperative neuromonitoring market. The market, currently valued at $3.56 billion in 2024, is projected to increase to $3.8 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 6.8%. Factors such as increasing cases of neurological disorders, heightened awareness amongst surgeons, wider application in different surgical procedures, a growing elderly population, and supportive insurance and reimbursement policies, have all contributed to this historic period of growth.
What's the Projected Size of the Global Intraoperative Neuromonitoring Market by 2029?
The market size for intraoperative neuromonitoring is projected to experience significant expansion in the coming years. The market is anticipated to reach $5.23 billion in 2029, with a compound annual growth rate (CAGR) of 8.3%. Factors contributing to this projected growth during the forecast period include an increased preference for minimally invasive surgeries, a global rise in surgical procedures, an increasing emphasis on patient safety, extensions into new medical specialties, and governmental guidelines and directives. Key trends for the forecasted period encompass technological improvements, IoT-based tools, product advancements, and strategic partnerships.
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Top Growth Drivers in the Intraoperative Neuromonitoring Industry: What's Accelerating the Market?
The growing incidence of neurovascular conditions is anticipated to stimulate progress in the intraoperative neuromonitoring market. Neurovascular ailments are diseases that typically last for a prolonged time, including Parkinson's disease, Alzheimer's disease, and epilepsy. Intraoperative neuromonitoring aids in evaluating the integrity of neural structures and alertness during surgical procedures for various neurodiseases, including Alzheimer's disease. As per the National Library Of Medicine, a US federal government entity, approximately 6.2 million Americans aged 65 and over are living with Alzheimer's dementia, a figure that could rise to 13.8 million by 2060. As a result, the escalating incidence of neurovascular conditions is fueling the intraoperative neuromonitoring market.
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What Trends Will Shape the Intraoperative Neuromonitoring Market Through 2029 and Beyond?
A significant trend emerging in the intraoperative neuromonitoring market is the implementation of high-tech devices. Key players in this market are keen on introducing novel technological solutions to solidify their standing. A case in point being Nihon Kohden, a medical device producer based in Japan, which in October 2023, unveiled the One View solution. This advanced feature is a part of its Neuromaster G1 intraoperative neuromonitoring (IONM) system. The solution offers an integrated platform linking the patient's anesthesia and critical vital signs, such as heart rate, SpO2, temperature, among others, with neurological data within the IONM software. It boasts a customizable alert system with auditory prompts, facilitating quick reactions and immediate interventions. These alerts can be set to activate according to predefined threshold parameters.
What Are the Main Segments in the Intraoperative Neuromonitoring Market?
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
Subsegments:
1) By Systems: Electromyography (EMG) Systems, Electroencephalography (EEG) Systems, Evoked Potential (EP) Systems, Multimodal Monitoring Systems
2) By Accessories: Electrodes, Cables And Connectors, Amplifiers, Monitors And Display Units
3) By Services: Consulting Services, Technical Support And Maintenance, Training And Education Services, Data Analysis And Reporting Services
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Which Top Companies are Driving Growth in the Intraoperative Neuromonitoring Market?
Major companies operating in the intraoperative neuromonitoring market are Medtronic PLC, Natus Medical Incorporated, Cadwell Industries Inc., Siemens Healthineers, Neurosign, Mizuho Medical Co. Ltd., EEG Solutions Inc., Invenia Technical Computing, Cablescope Inc., Blackrock Neurotech, Specialty Surgical Instrumentation, NeuroWave Systems, Intraoperative Monitoring Services LLC, BrainScope Company, Inc., Trident Medical Inc., CortiCare, Soterix Medical, Viking Medical, Neuromonitoring Associates, NeuroVigil, Neurophysiology Associates, NeuroDiagnostic Institute, Biomedical Monitoring Inc., The EPI Group, Advanced Neuromonitoring Technologies, Amplified NeuroTech
Which Regions Will Dominate the Intraoperative Neuromonitoring Market Through 2029?
North America was the largest region in the intraoperative neuromonitoring market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the intraoperative neuromonitoring market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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