GLOBAL INTRAOPERATIVE NEUROMONITORING MARKET FORECAST 2017-2025
LONDON, Nov. 7, 2017 /PRNewswire/ --
KEY FINDINGS
The global market for intraoperative neuromonitoring contributed $2.88 billion in the year 2016 and is anticipated to propel to $5.68 billion by the year 2025. The market is expected to evolve with the CAGR of 7.08% throughout the forecasting years. Advancement in technology, rise in the incidents of neurological diseases surging the surgeries segment, benefits of IONM during complicated surgeries, the rise in the elderly population are up surging the growth in the global intraoperative neuromonitoring market. Nevertheless, the inadequacy of professional surgeons and technicians to operate IONM devices, and high expenditure of IONM devices and services are the factors declining the growth of the market.
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MARKET INSIGHTS
The global intraoperative neuromonitoring market is segmented on the basis of source type, methodology, and application. The global intraoperative neuromonitoring market by source type is further bifurcated into insourced IONM and outsourced IONM; of which outsources IONM holds the largest market share of 57.10% in 2016, and it is anticipated to grow rapidly compared to insources IONM in the coming future. The market by application is segmented into Spinal Surgery, ENT Surgery, Neurosurgery, Vascular Surgery, Orthopedic Surgery, and Other Surgeries. The methodology segment is divided into EEG, EP, and EMG. EP monitoring holds the largest market share of 73% in the year 2016.
REGIONAL INSIGHTS
The global intraoperative neuromonitoring market by region is segmented into North America, Europe, Asia Pacific, and rest of the world. The North America region consists of the United States and Canada. The Europe region comprises of countries like UK, France, Germany, Spain, Italy, and rest of Europe. In the Asia Pacific region, countries mentioned are India, China, Japan, Australia, and rest of Asia Pacific. The rest of the world include Latin America, and the Middle East and Africa. North America region contributed highest in the overall intraoperative neuromonitoring market in the year 2016. Europe ranked second in dominating the market. The major reason responsible for this significant growth is the continuous improvement in the compensating scenario in the region. Asia Pacific is estimated to witness robust growth during the forecast period, owing to the rising awareness related to the safety of patients during surgery, and growing medical tourism in the region.
COMPETITIVE INSIGHTS
The major market players in the global intraoperative neuromonitoring market are Accurate Monitoring, Bovie Medical, Cadwell, Clinical Neurodiagnostics, Computational Diagnostics, Emotiv, Intranerve, Medsurant Monitoring, Medtronic, and Natus Medical.
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