Industry Trend Analysis
The global intraoperative neuromonitoring (IONM) market is expected to be around $6 billion by 2025. The market is primarily driven by the increased adoption of IONM for the risk management during complex surgeries, rising prevalence of chronic disorders coupled with rapidly aging population, and growing application areas of IONM, with significant increase in the number of surgeries. According to World Health Organization, around 266.2 to 359.5 million surgeries were performed globally in 2012, representing an increase of 38% over the past eight years. This will significantly contribute to the growth of IONM market during the forecast period with the growing awareness related to the benefits of the use of IONM during complex surgeries. However, low awareness related to the benefits of the use of IONM during complex surgeries in developing economies and dearth of skilled professionals to operate complex IONM systems will restrain the market growth.
Product Outlook and Trend Analysis
IONM systems segment held the larger market share in 2016 as they provide critical information related to the progression of any threat to central nervous system, thus aiding the physicians to take timely remedial measures. IONM services market is expected to exhibit fastest growth during the forecast period as the hospitals have shifted towards outsourced monitoring services as they cannot afford the cost of having a full-time IONM professional and cannot provide standard training that is required to improve the quality of service.
Application Outlook and Trend Analysis
IONM finds major applications in neurosurgery and spinal surgery. With technological developments, IONM has expanded its applications areas to ENT surgeries and orthopedic procedures. The spinal surgery segment dominated the overall IONM market in 2016, while orthopedic surgery is poised to grow at a significant CAGR during the forecast period.
Source Type Outlook and Trend Analysis
Outsourced IONM monitoring market is expected to be the fastest growing segment during the forecast period. This is primarily attributed to its benefits as compared to insourced IONM monitoring and increased preference of hospitals and ASCs for outsourced IONM monitoring. Thus, the market is gradually moving towards outsourced monitoring services.
Regional Outlook and Trend Analysis
North America held the largest share of the global IONM market in 2016 owing to increased adoption of IONM for risk management during complex surgeries in the region along with the availability of advanced healthcare infrastructure. Asia-Pacific market is expected to exhibit fastest growth during the forecast period due to presence of huge unmet medical needs and growing awareness related to IONM for risk management of complex surgeries.
The key players operating in the IONM market focus on strategic mergers and acquisitions in order to gain a competitive edge over other players. For instance, in June 2016, Biotronic NeuroNetwork acquired NuWave Monitoring, LLC, an intraoperative neuromonitoring company. The acquisition was intended for strengthening Biotronic’s presence in Chicago and northwestern Indiana. Similarly, in June 2016, SpecialtyCare, a provider of outsourced IONM and surgical services, acquired Sentient Medical Systems, in order to increase its coverage throughout the Atlantic states.
Some of the key players in this market are SpecialtyCare, NuVasive Inc., Medtronic plc, Natus Medical Incorporated, Neuromonitoring Technologies, Inc., Computational Diagnostics, Inc., IntraNerve, LLC, Moberg Research, Inc., Accurate Monitoring, LLC, and inomed Medizintechnik GmbH.
With development in intraoperative neuromonitoring techniques such as advanced pedicle screw stimulation techniques to avoid complications associated with misplacement of the a pedicle screw(s) which could result in vascular and neural complications, the market will witness more sophisticated devices and procedures being introduced in coming years.
Intraoperative Neuromonitoring Market Segmentation:
By Product & Service:
By Source Type:
Motor Evoked Potentials (MEPs)
Somatosensory Evoked Potentials (SSEPs)
Brainstem Auditory Evoked Potentials (BAEPs)
Visual Evoked Potentials (VEPs)
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2016 and forecast from 2017 to 2025?
What will be the industry market growth from 2017 to 2025?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?