Intraoperative Neuromonitoring Market Share Analysis of The Top Industry Players, Growth Opportunities and Country Level Segments
Global intraoperative neuromonitoring market is forecasted to reach around $5.5 billion by 2023.The growth in the market will be led by the ageing population, increasing prevalence of chronic disorders, applications of IONM in different surgeries, and risk management through IONM during complex surgeries.
On the basis of source type, the intraoperative neuromonitoring industry has been categorized insourced monitoring and outsourced monitoring. The insourced monitoring constituted more than 60% share of the intraoperative neuromonitoring market, globally. However, this share is expected to decrease during the forecast period due to the low maintenance cost associated with outsourced monitoring. Furthermore, the hospital has to provide training and other facilities to its IONM staff on a regular basis, which leads to additional expenses and is a tough task for the hospital.
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The global intraoperative neuromonitoring market for brainstem auditory evoked potentials (BAEPs) is expected to witness the fastest growth in demand, registering a CAGR in of around 8% during the forecast period. The other IONM modalities include somatosensory evoked potentials (SSEPs), motor evoked potentials (MEPs), electromyography (EMG), electroencephalography (EEG), and visual evoked potentials (VEPs).
The IONM applications involve spinal surgery, neurosurgery, vascular surgery, ENT surgery, orthopedic surgery, and other surgeries. Among the available applications of IONM, orthopedic surgery is estimated to witness the fastest growth in demand at a CAGR of 7.9% during the forecast period. By end user, the intraoperative neuromonitoring market is led by hospitals contributing more than $2 billion in 2016. The large number of hospitals is the major factor to its large share in the market.
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Some of the other key players operating in the global intraoperative neuromonitoring market are Accurate Monitoring LLC, Computational Diagnostics, Inc., IntraNerve, LLC, Inomed Medizintechnik GmbH, Medtronic plc, and SpecialtyCare.
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