[Report of 250 Pages] In 2032, the market for neuro monitoring systems is expected to be worth US$9.4 billion. The market for neuro monitoring systems is expected to grow in the coming years due to the rising number of complicated and critical surgeries performed around the world. The demand for neuro monitoring systems is anticipated to reach US$ 3.1 billion in 2022 and grow steadily at a 6.8% CAGR from 2022 to 2032, according to FMI.
Neuro Monitoring System is a technique which is expected to reduce the risk of neurological defects after surgeries that affects the nervous system. The Neuro monitoring system has evolved as it records the electrical potentials during surgical procedures from the nervous system. The introduction of neuro monitoring systems has reduced the risks of muscle weakness, hearing loss, paralysis. The neuro monitoring system provides immediate feedback, increases the safety and upgrades the outcomes during a spinal surgery.
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The neuro monitoring system measures the activity in terms of electrically evoked signals from the nerves. The neuromonitoring systems uses methods such as electromyography (EMG), electroencephalography (EEG), and evoked potentials to monitor neural structures such as nerves, parts of brain and spinal cord. The purpose of the neuro monitoring system is to further reduce the risk of damage of nervous system.
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.
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.
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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
Based on End Users, the global Neuromonitoring system Market is segmented as:
- Hospitals
- Diagnostic Labs
- Ambulatory surgical centers
- Outpatient Clinics
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Report Highlights:
- Shifting Industry dynamics
- In-depth Neuromonitoring system market segmentation
- Historical, current and projected industry size Recent industry trends
- Key Competition landscape, market structure, regulatory scenario
- Epidemiology outlook for diseases
- Economical spending, regional healthcare outlook, consumer healthcare expenditure
- Availability of device, cost of the test, specificity and sensitivity
- Strategies for key players and product offerings, Channel strategies, regional foot print, channel footprint
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance in terms of value
Key Segments Profiled in the Neuro Monitoring System Industry Survey
By Type:
- 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
By Application:
- Spine Surgery
- Vascular Surgery
- Orthopedic Surgery
- ENT Surgery
By End Users:
- Hospitals
- Diagnostic Labs
- Ambulatory Surgical Centers
- Outpatient Clinics
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Future Market Insights (ESOMAR certified 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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