Intraoperative neuromonitoring (IONM) encompasses the application of a wide variety of electrophysiological methods to monitor the functional integrity of the nervous system during surgical interventions.
The global Intraoperative neuromonitoring market is expected to cross $4 billion, growing at a CAGR of close to 7.8% during the period 2022–2031. High burden of healthcare expenditures, patients and healthcare providers’ preferences for choice of treatment with negligible/no risk post-surgical complications options have fuelled the demand for Intraoperative neuromonitoring services globally. The number of establishments providing outsourced IONM has also increased considerably in recent years in the US. Thus, opportunities witnessed by the Intraoperative neuromonitoring market in US are highly lucrative.
The report provides a holistic view of the global IONM market, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.
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IONM Market: Key Vendor Analysis
Vendors majorly focus on merger & acquisition to strengthen their presence
The global market can be termed as attractive one because of the growth prospects it holds. Mergers and acquisition are the major strategies used by vendors in the market. The report includes the news and details of the key mergers and acquisition of major vendors in the industry.
Major vendors in the global market SpecialtyCare, Natus, NuVasive, Medtronic, inomed Medizintechnik GmbH.
Other emerging vendors are Accurate Monitoring, Cadwell Industries, Computational Diagnostics, Bromedicon Neuromonitoring, Clinical Neurodiagnostics, CNS Neuromonitoring, Dr. Langer Medical GmbH, IntraNerve, Medsurant Health, Neuro Alert, Neurophysiology Services Asia, and Nihon Kohden Corp.
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IONM Market Dynamics
Advent of portable and multi-modality IONM devices to boost the market
Increase in volume of surgical procedures, growing utility of intraoperative neuromonitoring in varied surgeries, technological innovations and increase in use of out-sourced Intraoperative neuromonitoring by small and rural healthcare centers are the major factors that are enhancing the growth of the market. Increasing demand for tele-neuromonitoring, advent of portable and multi-modality IONM devices, increase in strategic consolidations and integration of MI surgeries with intraoperative neuromonitoring are the latest trends that will boost the market and will pave the way for growth opportunities.
IONM Market: Segmental Overview
Neurosurgery segment is going to dominate the market during the forecast period
Outsourced intraoperative neuromonitoring is growing at a rapid pace due to its benefits over in-sourced monitoring. Hospitals prefer outsourced monitoring as it eliminates the need for purchase of premium priced Intraoperative neuromonitoring capital equipment and avoid the requirement to appoint full-time IONM professionals.
In terms of modality, the EP segment dominated the market with a major share of 68.25% of the global IONM market due to its broad range of surgical applications and the high utilization rate. This segment is anticipated to be driven at a slightly growth rate during 2016−2022 and will retain to be major segment of the global Intraoperative neuromonitoring market by modality type during the forecast period. In terms of the growth rate, orthopedic surgeries are likely to grow at a higher CAGR than other surgical types. However, neurosurgery will remain the major revenue contributor during the forecast period in the application segment.
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