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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?
There has been robust expansion in the intraoperative neuromonitoring market in the past few years. The market, which is projected to rise from $3.56 billion in 2024 to $3.78 billion in 2025, will mark a compound annual growth rate (CAGR) of 6.0%. The previous period's growth can be ascribed to the escalating occurrence of neurological disorders, amplified awareness among surgeons, the broadening use in numerous surgical processes, a rise in the elderly populace, and the availability of insurance and reimbursement policies.
What's the Projected Size of the Global Intraoperative Neuromonitoring Market by 2029?
In the coming years, the intraoperative neuromonitoring market is predicted to experience robust expansion. The market is projected to reach $5.13 billion in 2029, exhibiting a compound annual growth rate (CAGR) of 8.0%. The growth during the projected period can be linked to factors such as the rising demand for minimally invasive surgeries, a worldwide increase in surgical procedures, heightened emphasis on patient safety, broadened use in emerging medical disciplines, and governmental policies and regulations. Key trends during this forecast period will be driven by technological progress, IoT-enabled devices, product advancement, and strategic partnerships.
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Top Growth Drivers in the Intraoperative Neuromonitoring Industry: What's Accelerating the Market?
The rise in neurovascular disorders is projected to stimulate the expansion of the intraoperative neuromonitoring market. These disorders include chronic diseases such as Parkinson's disease, Alzheimer's disease, and epilepsy. Intraoperative neuromonitoring contributes to the evaluation of neural structures' integrity and patient consciousness during surgeries related to various neurodiseases, including Alzheimer's disease. As cited by the National Library Of Medicine, a federal government body in the US, it's estimated that there are 6.2 million Americans of 65 years and older currently battling Alzheimer's dementia. This number is expected to soar to 13.8 million by 2060. Subsequently, the escalating prevalence of neurovascular disorders is fostering the growth of the intraoperative neuromonitoring market.
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What Are the Key Trends Driving Intraoperative Neuromonitoring Market Growth?
The trend of incorporating high-tech devices in intraoperative neuromonitoring is gaining traction in the intraoperative neuromonitoring market. Major firms are concentrating on creating new technology solutions to reinforce their standing in the market. For example, Nihon Kohden, a medical device manufacturer based in Japan, introduced the One View solution in October 2023. This novel feature in the Neuromaster G1 intraoperative neuromonitoring (IONM) system enables a smooth combination of the patient's anesthesia and critical signs such as heart rate, temperature, SpO2, along with neurological data in the IONM software. It features a customizable alert system with audio signals, allowing for quick and timely actions. The alerts can be set to activate based on predetermined 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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