The global Intraoperative Neuromonitoring Market size is expected to reach USD 3.6 billion by 2025, based on a new report by Grand View Research, Inc. The market is anticipated to witness significant growth in the forecast period, which can be attributed to the hospitals adopting intraoperative monitoring in a wide spectrum of surgeries.
Major surgeries pose a risk to the nervous system that
necessitates neuromonitoring. This has resulted in the growing popularity of
intraoperative neuromonitoring (IONM) amongst surgical teams, surgeons, and
hospitals. It results in reduced cases of revision surgeries, postoperative
complications, and permanent impairment.
Industry players are acquiring smaller companies to
expand their product offerings and geographical presence. For instance, in June
2016, Biotronic NeuroNetwork, LLC, headquartered in Michigan, was acquired by
NuVasive, Inc., in a transaction worth USD 98 million.
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Further key findings from the study suggest:
- Insourced IONM dominated the market in 2015, which is attributed to
the rising number of surgeries and emphasis on patients during the
procedures. IONM is utilized to minimize the neurological morbidity caused
by operative manipulations. This offers detection of injuries during the
operation and minimizes the risk of permanent nerve damage. Hospitals have
adopted intraoperative monitoring and have trained technologists, who are
supervised by neurologists and physiologists during the procedures.
- Outsourced IONM is also gaining popularity and is expected to grow
at a rapid rate over the forecast period Hospitals and healthcare centers
choose to outsource their IONM needs due to benefits such as
cost-efficiency and availability of focused service providers.
- Geographically, North America dominated the industry in 2015 and is
expected to maintain its position during the forecast period. It is
accepted as a standard of care by the medical community in this region due
to its benefits. New neurosurgeons and orthopedic surgeons are being
trained to adopt this technique during procedures.
- Asia Pacific is anticipated to observe the fastest growth over the
coming years. The rising number of surgeries, developing economies,
growing capacity of patients to bear expenses, and the presence of a large
patient pool are few factors contributing to this growth.
- Prominent players operating in the intraoperative neuromonitoring
market include are Biotronic NeuroNetwork, LLC; Medtronic; Accurate
Monitoring; NuVasive Inc.; Natus Medical Incorporated; SpecialtyCare;
Sentient Medical Systems; and NeuroMonitoring Technologies, Inc.
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
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decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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