Global Insource Intraoperative Neuromonitoring Market, By Product Type (Insource IONM, Outsource IONM), Application (Neurosurgery, Spinal Surgery, Cardiovascular Surgery, ENT Surgery, Orthopedic Surgery, Others) – Industry Trends and Forecast to 2029
Insource Intraoperative Neuromonitoring Market Analysis and Size
Intraoperative neuromonitoring (IONM) is a crucial approach for monitoring neurosurgery because it provides an early warning for motor and sensory functioning during operation. According to the CDC, traumatic brain injuries accounted for more than 2.8 million visits to emergency rooms in the US in 2013. The only method available to evaluate the early signs and conditions of emergency brain trauma is IONM.
Data Bridge Market Research analyses that the insource intraoperative neuromonitoring market which was USD 3.02 billion in 2021, would rocket up to USD 4.63 billion by 2029, and is expected to undergo a CAGR of 5.50% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Insource Intraoperative Neuromonitoring Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Product Type (Insource IONM, Outsource IONM), Application (Neurosurgery, Spinal Surgery, Cardiovascular Surgery, ENT Surgery, Orthopedic Surgery, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Computational Diagnostics, Inc. (U.S.), NIHON KOHDEN CORPORATION (Japan), Moberg Research, Inc. (U.S.), NuVasive, Inc. (U.S.), Cadwell Industries, Inc. (U.S.), Medsurant Health (U.S.), Medgadget, Inc. (U.S.), Medtronic (Ireland), Accurate Monitoring (U.S.), IntraNerve Neuroscience Holdings, LLC (U.S.), NeuroMonitoring Technologies, Inc. (U.S.), Technomed Private Limited (U.S.), inomed Medizintechnik GmbH (Germany), Natus Medical Incorporated (U.S.), Neuro Style Pvt. Ltd. (U.S.)
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Market Opportunities
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Market Definition
A method called intraoperative neuromonitoring (IONM) lowers the risk of neurological impairments during and after nervous system procedures. During surgery, an IONM system records potentials from the nervous system, including EEG, EMG, and evoked potentials.
Insource Intraoperative Neuromonitoring Market Dynamics
Drivers
- Rise in chronic diseases
Chronic diseases are the unfavourable results of lifestyle changes, such as poor nutrition and insufficient exercise. The majority of people with such chronic conditions are elderly. Neurosurgeries involving intraoperative neuromonitoring are necessary for many chronic illnesses. This is the primary driver of the insource intraoperative neuromonitoring market's expansion.
- Rise in demand of intraoperative neuromonitoring systems
Procedures for intraoperative neuromonitoring are crucial for a patient's safety during complex surgeries. This has led to a rise in demand for intraoperative neuromonitoring systems across several healthcare sectors. These are the elements that are driving the market's expansion.
- Growing volume of surgeries
According to the Centers for Disease Control and Prevention (CDC), 6 out of 10 persons in the U.S. have a chronic illness. Additionally, according to the CDC, there were approximately 61,000 TBI-related fatalities in the U.S. in 2019. It is anticipated that more essential procedures using IONM will be performed across various medical disciplines. The market in the U.S. will see a large increase in the number of methods for different kinds of surgeries that frequently use IONM. An increase in the number of persons with health insurance will help support this increase in the number of procedures. Therefore, as the number of surgeries rises, IONM acceptance and demand, propelling the market's expansion.
Opportunities
In the next years, the global market is anticipated to benefit greatly from the well-liked and rapidly developing trend of medical tourism. Intraoperative neuromonitoring system technological breakthroughs are another element that multiplies the market's potential for growth.
Restraints/Challenges
The high cost of neurosurgeries and the lack of qualified specialists for effective maintenance of the intraoperative neuromonitoring systems will act as a restraint for the market growth.
This insource intraoperative neuromonitoring market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the insource intraoperative neuromonitoring market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In February 2021, Simplify Medical, a privately held firm and creator of the Simplify® Cervical Artificial Disc (Simplify Disc) for cervical complete disc replacement, was acquired by NuVasive, Inc. in February 2021, according to an announcement (cTDR).
Global Insource Intraoperative Neuromonitoring Market Scope
The insource intraoperative neuromonitoring market is segmented on the basis of product type, application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product Type
- Insource IONM
- Outsource IONM
Application
- Neurosurgery
- Spinal Surgery
- Cardiovascular Surgery
- ENT Surgery
- Orthopedic Surgery
- Others
Insource Intraoperative Neuromonitoring Market Regional Analysis/Insights
The insource intraoperative neuromonitoring market is analysed and market size insights and trends are provided by country, product type, application as referenced above.
The countries covered in the insource intraoperative neuromonitoring market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America is dominate the market due to highly using patient seeking neuromonitoring systems for their surgeries.
Asia-Pacific is projected to be a lucrative region for the insource intraoperative neuromonitoring market due to increasing awareness about patient safety during surgery and increasing medical tourism in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The global insource intraoperative neuromonitoring market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Global insource intraoperative neuromonitoring market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the global insource intraoperative neuromonitoring market. The data is available for historic period 2010-2020.
Competitive Landscape and Insource Intraoperative Neuromonitoring Market Share Analysis
The insource intraoperative neuromonitoring market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to insource intraoperative neuromonitoring market.
Some of the major players operating in the insource intraoperative neuromonitoring market are:
- Computational Diagnostics, Inc. (U.S.)
- NIHON KOHDEN CORPORATION (Japan)
- Moberg Research, Inc. (U.S.)
- NuVasive, Inc. (U.S.)
- Cadwell Industries, Inc. (U.S.)
- Medsurant Health (U.S.)
- Medgadget, Inc. (U.S.)
- Medtronic (Ireland)
- Accurate Monitoring (U.S.)
- IntraNerve Neuroscience Holdings, LLC (U.S.)
- NeuroMonitoring Technologies, Inc. (U.S.)
- Technomed Private Limited (U.S.)
- inomed Medizintechnik GmbH (Germany)
- Natus Medical Incorporated (U.S.)
- Neuro Style Pvt. Ltd. (U.S.)
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