Intraoperative Neuromonitoring Market Size In US is set to grow by USD 573.22 million from 2023-2027, Increasing number of surgeries that require ionm boost the market, Technavio

NEW YORK, July 17, 2024 /PRNewswire/ -- The intraoperative neuromonitoring market size in US is estimated to grow by USD 573.22 million from 2023-2027, according to Technavio. The market is estimated to grow at a CAGR of over 5.8%  during the forecast period. Increasing number of surgeries that require ionm is driving market growth, with a trend towards increasing number of acquisitions related to IoNM. However, high cost of ionm devices and procedures  poses a challenge. Key market players include Accurate Neuromonitoring LLC, Assure Holdings Corp., Cadwell Industries Inc., Comprehensive Care Services, Computational Diagnostics Inc., EMOTIV, inomed Medizintechnik GmbH, IntraNerve Neuroscience Holdings LLC, Medsurant Health, Medtronic Plc, Natus Medical Inc., Neuro Alert, NeuroMonitoring Technologies, Neurosoft, Nihon Kohden Corp., Nuvasive Inc., Orimtec, ProPep Surgical, SpecialtyCare Inc., and Technomed.

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Market Driver

The Intraoperative Neuromonitoring (IONM) market in the US is witnessing an uptick in strategic acquisitions. Notably, Assure Holdings Corp., an IONM and remote neurology service provider, acquired the assets of Neuroprotect Neuromonitoring, LLC and its affiliated entities in late 2022. This acquisition included material contracts, commercial partnerships, tangible assets, and accounts receivable. In another development, INN, an IONM services provider, expanded its footprint in Minnesota in September 2021 and acquired a Midwest IONM provider in December 2022. These acquisitions enable vendors to broaden their geographic reach and fortify their market presence, fueling the growth of the IONM market in the US. 

The Intraoperative Neuromonitoring (IONM) market in the US is experiencing significant growth due to the increasing number of surgeries for demographic-specific health conditions like stroke, epilepsy, Alzheimer's disease, and mental disorders. The lack of awareness about IONM among surgeons and healthcare providers is a major challenge. The skilled personnel required for IONM are in high demand, leading to a shortage and increased costs. Insourcing and outsourcing IONM services are becoming popular trends, with hospitals and Ambulatory Surgery Centers (ASCs) opting for both. The market is segmented into system and service segments, with spinal and orthopedic surgeries dominating the market. Technologies like artificial intelligence and machine learning are being integrated into IONM to improve accuracy and efficiency. Reimbursement policies, recession, and healthcare budgets are factors affecting market growth. The elderly population, with conditions like cerebral stroke, osteoarthritis (OA), and joint replacements, are major consumers of IONM services. The Nervous System Disorders Association and Osteoarthritis Action Alliance are advocating for increased awareness and funding for IONM. Medical imaging and remote patient monitoring are complementary technologies to IONM. The World Health Organization and NIMH are also promoting the use of IONM for complex bone reconstructions and neural pathway monitoring. The market is expected to grow despite challenges, with the auditory pathways, brainstem, motor nerve function, and electromyography (EMG) segments showing significant potential. Electroencephalography (EEG) is another emerging technology in IONM. The market is expected to continue growing, driven by the increasing prevalence of neurological conditions and the need for improved patient safety during surgeries. 

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Market Challenges

• The Intraoperative Neuromonitoring (IONM) market in the US is experiencing growth, but the high cost of IONM devices and procedures is limiting their adoption by end-users. IONM devices, such as EEGs, come in various channel numbers, with 1-32 channel devices costing between USD1,000 and USD25,000, and those with more than 64 channels costing over USD25,000. Portable amplifiers for longer EMG recordings can cost over USD20,000. End-users also face additional expenses for maintenance and instruments. Many opt for refurbished IONM devices, which offer cost savings and benefits like warranty and after-sales services. Companies like Alternative Source Medical provide refurbished IONM devices, impacting sales of new devices from established vendors. Patients, even with insurance coverage, find IONM procedures expensive due to additional technology, equipment, and operator costs, prolonged hospital stays, and surgical complications. Medicare payments for IONM are lower than those from private insurers, not covering technicians. These factors contribute to the high cost of IONM, hindering market growth in the US.
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Segment Overview 

This intraoperative neuromonitoring market in US report extensively covers market segmentation by  

1. Application 
• 1.1 Orthopedic and neurosurgeries
• 1.2 Cardiovascular surgeries
• 1.3 ENT surgeries
• 1.4 Others
2. Type 
• 2.1 Insourced IONM
• 2.2 Outsourced IONM
3. Geography 
• 3.1 North America

1.1 Orthopedic and neurosurgeries-  Intraoperative Neuromonitoring (IONM) is a valuable tool used in various complex spine surgical procedures such as cervical, thoracic, and lumbar spine fusion, nerve root decompression, and corrective procedures for scoliosis in pediatric and adult patients. With the increase in complex spine surgeries involving aggressive deformity correction and tumor resection, the risk of neurological complications post-surgery has become a significant concern. IONM helps assess, in real-time, the function of the spinal cord and nerve roots, reducing the risk of neurological complications, including cauda equina syndrome, spinal length discrepancies, and nerve root injuries. IONM modalities, including SEPs, MEPs, BAEPs, EEGs, and EMGs, provide simultaneous clinical neural information throughout the surgery, allowing for prompt corrective action if necessary. IONM is also used in neurosurgeries for brain tumor removal procedures, microvascular decompression, peripheral nerve injury, brachial plexus nerve injury, and brainstem decompression. In orthopedic surgeries, IONM is used to monitor the integrity of neural pathways during procedures such as acetabular fractures, hip joint surgeries, including total hip arthroplasty revisions, periacetabular osteotomies (PAOS), hip arthroscopy, arthroscopic-assisted treatment of hamstring avulsion, and ischial tunnel syndrome. The use of IONM in orthopedic and neurosurgeries will drive the growth of the IONM market in the US during the forecast period.

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Learn and explore more about Technavio's in-depth research reports

The global neuromodulation market is rapidly expanding, driven by advancements in medical technology and increasing prevalence of neurological disorders. Neuromodulation devices, such as spinal cord stimulators and deep brain stimulators, offer effective treatment options for chronic pain, Parkinson's disease, and epilepsy. Market growth is supported by rising healthcare expenditure and growing aging population globally.

The global neurology devices market is poised for substantial growth, fueled by rising neurological disorders like Alzheimer's and stroke. Devices such as MRI systems, neurostimulation devices, and neurosurgery instruments are critical in diagnosis and treatment. Technological advancements, coupled with increasing healthcare awareness, drive market expansion, particularly in developed regions. Innovation in minimally invasive procedures and personalized medicine continues to shape the market's evolution.

Research Analysis

The Intraoperative Neuromonitoring (IONM) market in the US is witnessing significant growth due to the increasing prevalence of chronic diseases such as Brain implants for Parkinson's disease and Deep brain stimulation for Movement disorders and Neurological disorders. IONM is essential in Neurosurgery, especially during Cardiovascular conditions, to ensure patient safety. The geriatric population, with a higher prevalence of Chronic diseases, is a significant consumer of IONM. Neurosurgery devices like Surgical microscopes, Ophthalmic surgical devices, and Surgical robots are integral to IONM. However, the lack of awareness and skilled personnel pose challenges to the market's growth. Stroke, Epilepsy, Alzheimer's disease, Mental disorders, and Cancer are other conditions where IONM is used. Medical imaging, Artificial intelligence, and Machine learning are transforming IONM, while Healthcare reimbursement policies continue to evolve. Osteoarthritis (OA) is not directly related to IONM but can indirectly benefit from it through improved surgical outcomes.

Market Research Overview

The Intraoperative Neuromonitoring (IONM) market in the US has been gaining significant traction due to the increasing prevalence of neurological disorders, such as Parkinson's disease, Epilepsy, Alzheimer's disease, and Stroke, as well as the growing number of elective surgeries and elderly population. IONM is essential for ensuring patient safety during surgeries, particularly those involving the nervous system, such as brain implants, deep brain stimulation, and spinal surgery. The market is segmented into system and service segments, with insourced and outsourced monitoring options. Neurological conditions like brain tumors, cerebral stroke, and epilepsy require real-time monitoring of neural pathways and motor nerve function. The use of surgical microscopes, ophthalmic surgical devices, and surgical robots facilitates precise surgeries, reducing the risk of complications. However, challenges such as lack of awareness, skilled personnel shortage, and healthcare budget constraints may hinder market growth. Reimbursement policies, recession, and remote patient monitoring are other factors influencing the market dynamics. The market includes various technologies like electromyography (EMG), electroencephalography (EEG), and auditory pathways monitoring. The market caters to hospitals, ASCs, and outpatient settings, with a focus on minimally invasive procedures and post-imaging assessments. The World Health Organization and organizations like the Osteoarthritis Action Alliance emphasize the importance of addressing demographic-specific health conditions, such as osteoarthritis (OA), heart disease, COPD, and diabetes, which may require IONM solutions. The aging population and the increasing prevalence of chronic diseases, such as cancer and mental disorders, further boost the market demand. The use of artificial intelligence and machine learning in IONM solutions enhances the accuracy and efficiency of monitoring, making it an indispensable tool in healthcare.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Application
• Orthopedic And Neurosurgeries
• Cardiovascular Surgeries
• ENT Surgeries
• Others
• Type
• Insourced IONM
• Outsourced IONM
• Geography
• North America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

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SOURCE Technavio