The Intraoperative Neurophysiological Monitoring (IONM) market, although in its embryonic stage, is still witnessing an outstanding growth over the past couple of years. The growth attributes to the ability of this device in the field of spinal and cranial procedures, reducing the risk of neurological deficits after surgery that involves the nervous system.
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Acknowledging the growth, this market perceives currently; Market Research Future (MRFR) has recently published a study report giving out the complete market prognosis up till 2027. According to MRFR, the global Intraoperative Neurophysiological Monitoring market gaining further prominence will register a spectacular growth of USD 3.1 billion by 2027, posting a striking 8.9% CAGR during 2016 – 2027.
Although the IONM techniques are widely adopted in developed countries, in various developing nations, they are still in infancy due to the low level of awareness. This, in turn, is creating growth opportunities for various market players to invest in such countries to achieve greater benefits. Growing prevalence of disorders related to the spinal cord is the key factor driving the market growth.
Factors such as growing population, increasing awareness towards the advantages coupled with the augmenting uptake of this device foster the market growth to an extent. The proliferation of internet coupled with the penetration of IoT in the medical sector are increasingly providing good outcomes in patients; making real-time patient tracking, monitoring and drug management possible. Therefore, the Intraoperative Neurophysiological Monitoring market is expanding pervasively.
Argos NeuroMonitoring LP
Accurate Monitoring LLC
Inomed Medizintechnik GmbH
Intraoperative Neurophysiological Monitoring Market – Segments
By Types: Comprises EEG, EMG, and Evoked Potential (EP)among others.
By Methods: Invasive,Non-Invasive, and Minimally Invasive among others.
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By Sources: In-house, Outsource, and Tele-Health among others.
By Procedures: Spinal, Neurovascular, Otolaryngology surgeries, and Urology among others.
By Regions: North America, Europe, APAC, and Rest-of-the-World (RoW).
Intraoperative Neurophysiological Monitoring Market – Regional Analysis
Globally, North America region is expected to lead the IONM market accounting for a significant market share. Factors substantiating the market growth of this region include growing demand for the spinal and cranial procedures, supported by the growing number of patients suffering from the conditions associated with the spine.
Whereas the world’s second-largest market for IONM – Europe is expected to demonstrate a healthy growth during the review period. Factors such as the well-proliferated healthcare sector, witnessing the growing number of advanced treatment facilities fuelled by the growing demand for better healthcare infrastructure and increasing healthcare expenditures are driving the growth in the Europe market.
The Asia-Pacific market is emerging as a lucrative market for IONM owing to the rising number of patients suffering from spinal disorders coupled with the growing population that is increasingly adopting the sedentary lifestyle. Increasing funding support from the private and public bodies are paying off well, increasing R&D activities, and eventually are supporting the market growth in the region.
Intraoperative Neurophysiological Monitoring Market – Competitive Landscape
The Market appeared to be highly competitive and diversified with the presence of giant manufacturers of the device, playing on the global level. These players are heavily investing in R&D, global expansion, advanced technologies and product Launch to gain the competitive edge in the market.
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