A method called the Neuro-monitoring System Market is intended to lower the risk of neurological abnormalities following operations on the nervous system. As it records the nervous system’s electrical potentials during surgery, the neuro monitoring system has developed. The chances of paralysis, hearing loss, and muscle weakness have decreased since the development of neuro monitoring devices. The neuro monitoring system improves outcomes, promotes safety, and gives immediate feedback during spine surgery.
Neuro monitoring system sales are projected to reach US$ 9.4 billion by 2032. Due to the rise in complex and urgent surgeries done globally, the market for neuro monitoring systems is anticipated to expand in the next years. According to FMI, the market for neuro monitoring systems is expected to reach US$ 3.1 billion in 2022 and expand gradually at a CAGR of 6.8% from 2022 to 2032.
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The neuromonitoring system uses electrically evoked impulses from the nerves to measure activity. The neuromonitoring systems keep an eye on neural structures like nerves, sections of the brain, and the spinal cord using techniques like electromyography (EMG), electroencephalography (EEG), and evoked potentials. The neuro monitoring system’s goal is to further lower the possibility of nervous system injury.
Neuro monitoring system: Drivers and Restraints
The use of neuromonitoring systems offers convenience to help in the detection of injuries before they become severe. Aging population, rise of chronic diseases, road accidents which are further leading to increase in the number of surgeries and procedures are driving the neuro monitoring system market. Also increase awareness among doctors regarding the benefits of neuromonitoring systems are expected to drive the neuro monitoring system market. The neuro monitoring systems are used to help and assess the functions of nerves and muscles.
The neuro monitoring system assess the proper placement screws in surgeries which further reduces the risk of nerve intrusion. Also neuro monitoring systems monitor the parts of the spinal cord which assists in detection of sensory changes in the body. The test monitors changes occurred due to ischemia, lack of blood supply to limbs and mechanical manipulations. Neuro monitoring devices such as MEP can be used to access the motor functions, damage and injury to the spinal cord and are further used to verify the pathway. These factors are expected to increase the neuro monitoring system devices market. The Neuromonitoring system Market offers potential and holds a strong perception in future with its continued investment.
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Neuro-monitoring system: Regional Outlook
Among all the regions North America (United States) is anticipated to be the leading region in the global Neuromonitoring system market followed by Europe, due to increasing percentage of ageing population suffering from chronic diseases in the region with strict regulations for patient safety. The Neuromonitoring system market in Asia Pacific is expected to grow at a significant rate due to increasing number of patients suffering from spinal injuries. In addition, initiatives by the government in the region on providing better healthcare facilities to the population contribute to the growth of the Neuromonitoring system. Manufacturers are expanding their business by acquiring companies which is expected to grow the Neuromonitoring systems.
Neuro monitoring system Market: Key Players
Examples of some of the key players identified in the global Neuromonitoring system Market Inomed Medizintechnik GmbH, Accurate Monitoring, Neuromonitoring Technologies, Medtronic, Natus Medical Incorporated, NuVasive Inc., Biotronic NeuroNetwork Sentient Medical Systems, and SpecialityCare, AXIS Neuromonitoring, LLC, among others. The companies are involved in partnerships for R&D in order to exploit maximum potential. Also, they are majorly focusing on strengthening the core skills of their product portfolio.
Many companies such as NuVasive, Inc. acquired SafePassage to further expand its neuromonitoring business
Key data points covered in report:
The report covers exhaustive analysis on:
- Neuromonitoring system Market by types of hypersomnia, Treatment type, distribution channel and region
- Regional level market analysis of North America, Latin America, Western Europe, Eastern Europe, Asia Pacific, Middle East & Africa by end user and country segments
- Neuromonitoring system Market Dynamics & Opportunity Assessment
- Historical Actual Market Size, 2013 – 2017
- Neuromonitoring system Market system market Size & Forecast 2018-2028
- Neuromonitoring system Market Current Trends/Issues/Challenges
- Competition & Companies involved
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Neuro monitoring system Market: Segmentation
Tentatively, the global Neuromonitoring system Market can be segmented on the basis of types of hypersomnia, treatment Type, distribution channel and geography.
Based on types of Neuro-monitoring, the global Neuromonitoring system Market is segmented as:
- Sub-sensory evoked potentials
- Motor-sensory evoked potentials
- Brainstem auditory evoked potentials (BAEP)
- Visual evoked potentials (VEP)
- Somatosensory-evoked potentials (SSEP)
- Mapping for motor-cortex
Based on Application, the global Neuromonitoring system Market is segmented as:
- Spine surgery
- Vascular surgery
- Orthopedic surgery
- ENT surgery
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Based on End Users, the global Neuromonitoring system Market is segmented as:
- Hospitals
- Diagnostic Labs
- Ambulatory surgical centers
- Outpatient Clinics
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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