Growing Prevalence of Neurological Disorders to Boost the Intraoperative Neuromonitoring Market Growth

Intraoperative Neuromonitoring Market

Global Intraoperative Neuromonitoring Market, by Modality (Sub-sensory Evoked Potentials, Motor Sensory Evoked Potentials (Brainstem Auditory Evoked Potentials, Visual Evoked Potentials, and Somatosensory Evoked Potentials), Mapping for Motor Cortex), by Source Type (Insourced Monitoring and Outsourced Monitoring), by End User (Hospitals, Ambulatory Surgical Centers, Others) and by Region by Region (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa) - Global Trends, and Forecast till 2030

The global Intraoperative Neuromonitoring Market is estimated to be valued at US$ XXX million in XXX and is expected to exhibit a CAGR of XXX% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Intraoperative neuromonitoring (IONM) is a continuous surveillance of a patient’s nervous system (the brain, spinal cord, and nerves) when it can be at risk of injury during surgery. The purpose of IONM is to protect the nervous system. IONM helps assess the integrity of neural structures and consciousness during surgical procedures.

It includes both continuous monitoring of neural tissue as well as the localization of vital neural structures. IONM works by delivering electrical impulses to the nervous system and measuring their effect. The role of intraoperative neuromonitoring is to provide immediate feedback and warning to the surgeon for prevention of permanent nerve injury as a result of iatrogenic damage.

Competitive Landscape:

Major players operating in the global Intraoperative Neuromonitoring Market are Neuromonitoring Technologies, Accurate Monitoring, Natus Medical Incorporated, Inomed Medizintechnik GmbH, Medtronic, NuVasive, Biotronic NeuroNetwork, SpecialityCare, and Sentient Medical Systems, among others.

Key Market Drivers:

Growing prevalence of neurological disorders (such as Alzheimer and Parkinson disease, strokes, multiple sclerosis, epilepsy, migraine, brain injuries, and neuroinfections) worldwide is expected to boost growth of the global intraoperative neuromonitoring for market over the forecast period. For instance, according to the World Health Organization (WHO), millions of people worldwide are affected by some type of neurological disease. Nearly 7 million people die every year as the result of a neurological disorder. This in turn is driving the market growth.

Moreover, rise in demand intraoperative neuromonitoring devices/systems worldwide is expected to propel the growth of the global Intraoperative Neuromonitoring Market. For instance, in March 2021, Neurosign received the U.S. Food and Drug Administration (USFDA) approval for the V4 4-channel and 8-channel nerve monitoring system and it is already being used on patients for nerve identification and preservation in the United States.

Due to the rising frequency of brain illnesses and expanding senior population in the region, Europe is also anticipated to have rapid expansion in the global Neurofeedback Systems Market.

COVID-19 Impact Analysis:

The outbreak of COVID-19 had a positive impact on the intraoperative neuromonitoring for market. According to the Frontiers Media S.A. in November 2020, in critically ill patients with COVID-19 who are receiving invasive mechanical ventilation, neurological problems are prevalent and are linked to longer ICU stays. During the pandemic, neuromonitoring devices were useful tools for early detection of abnormalities in cerebrovascular parameters. The pandemic increased demand for neuromonitoring devices worldwide, driving the market growth.

Key Takeaways:

· The Intraoperative Neuromonitoring Market to exhibit a CAGR of XX % over the forecast period due to the growing geriatric population worldwide. For instance, ageing is the primary risk factor for most neurodegenerative diseases, including Alzheimer and Parkinson disease. Alzheimer's is most common in people over the age of 65. According to the WHO, by 2050, the world’s population of people aged 60 years and older will double (2.1 billion).

· Among regions, North America and Asia Pacific are expected to witness robust growth in the intraoperative neuromonitoring for market due to the rise in prevalence of neurological diseases, growing geriatric population, rise in demand intraoperative neuromonitoring devices/systems, and the outbreak of COVID-19 in these regions.

· For instance, according to the Alzheimer’s Association, more than 6 million Americans of all ages have Alzheimer's. Around 6.5 million people in the U.S. age 65 and older are living with Alzheimer's in 2022. About 1 in 9 age 65 and older (10.7%) has Alzheimer's. Moreover, in October 2020, Medtronic received 510(k) clearance from the U.S. FDA for the NIM Vital nerve monitoring system, which allows physicians to detect, monitor, and confirm nerve function, to assist in reducing the risk of nerve damage during head and neck surgeries.