Technavio analysts forecast the global intraoperative neuromonitoring market to grow at a CAGR of over 9% during the forecast period, according to their latest market research report.
The emergence of portable IONM is one of the major trends being witnessed in the global intraoperative neuromonitoring market 2018-2022. IONM provides high-quality monitoring during complex spine and brain surgeries. Vendors in the market are offering compact, mobile and uniquely designed portable IONM systems. Portable IONM systems address the requirement of fast-paced operating rooms.
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According to Technavio analysts, one of the key factors contributing to the growth of the global intraoperative neuromonitoring market is the growing volume of surgeries:
Global intraoperative neuromonitoring market: Growing volume of surgeries
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The increasing number of surgeries drive the adoption of IONM. IONM provides the real-time status of nerves and the spinal cord during surgeries. It helps to protect a patient during surgery by providing crucial neurophysiological information in real-time to the surgeon. The continuous assessment of the functionality of the patients nervous system helps the surgeon avoid permanent damage to the neural structures while performing surgery.
According to a senior analyst at Technavio, The US market will witness significant growth in several surgery types that regularly employ IONM. This surge in the volume of surgeries will be further supported by an expansion in the number of citizens with commercial health insurance. Thus, the increase in the volume of surgery directly increases the demand and adoption of IONM, thereby driving growth in the market.
Global intraoperative neuromonitoring market: Segmentation analysis
The global intraoperative neuromonitoring market research report provides market segmentation by the application (neuro and spine surgeries, cardiovascular surgeries, ENT surgeries, orthopedic surgeries, and other surgeries), by end-user (hospitals, ASCs, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, hospitals and ASCs, the hospital’s segment held the largest market share in 2017, contributing to over 47% of the market. The growth in the segment can be due to the increasing prevalence of neurological disorders, growing focus on early diagnosis and prevention, rising number neuro-diagnostic procedures, availability of skilled neurologists, and the growing adoption of technologically advanced brain monitoring devices in hospitals and clinics.
The Americas held the largest share of the market in 2017, accounting for close to 71% share, followed by EMEA and APAC respectively. The Americas is expected to continue to dominate the market during the forecast period.
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Five Forces Analysis
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- Vendors covered
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- Market positioning of vendors
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