Global Intraoperative Monitoring Market to Grow Exponentially in the Coming Future
Intraoperative neuromonitoring or IONM is a technique that reduces the risk of neurological deficits during as well as after surgeries that involve nervous system. During a surgical procedure, an intraoperative neuromonitoring system uses recordings of potentials such as evoked potentials, EMG, and EEG from the nervous system. It is important to use neuromonitoring during surgeries as it aids in detecting injuries so that the patients do not have to undergo severe post-operative complications. Thus, intraoperative neuromonitoring reduces risk of incapacitating deficits such as hearing loss, paralysis, muscle weakness, and other functions of human body.
As per a Research Dive blog, intraoperative neuromonitoring is used in cardiovascular, musculoskeletal, and spinal surgeries. As these surgeries are associated with neurological complications they are considered as high-risk procedures. The growing prevalence of all the above mentioned disorders all over the globe is increasing the need for surgeries. Along with the surgeries, the need for new surgical and diagnostic techniques is also increasing.
Recent Developments in Intraoperative Neuromonitoring Industry
The demand for modern medicine is high quality products and best possible results. Intraoperative neuromonitoring is used in numerous surgical disciplines to ensure the integrity of neuronal tissue. Thus, intraoperative neuromonitoring is considered as a suitable tool for surgeons to better maintain sensory and motor functions. This has made intraoperative neuromonitoring systems to become standard in various surgical fields. The market players are now providing advanced neuromonitoring systems to hospitals and healthcare centers for successfully performing surgeries with reduced errors.
In July 2016, NuVasive Clinical Services successfully completed the acquisition with a leading provider of intraoperative neuromonitoring service, Biotronic NeuroNetwork. The focus of Nuvasive in this acquisition was to deliver intraoperative neuromonitoring services to help heathcare facilities and surgeons to operate a huge number of annual cases in the U.S.
In October 2016, Specialty Care, Inc. completed the acquisition with a healthcare services company, Sentient Medical Systems. The focus of Specialty Care Inc. in acquiring Sentiment was to provide outsourced perfusion, surgical assist, endoscopic, and clinical technician services to healthcare systems and hospitals.
In July 2019, NuVasive launched its integrated technology platform, ‘Pulse’ to help surgeons in lessening disruptive surgical approaches and continue the spine surgeries more efficiently. Pulse is addressing a wide range of clinical challenges in the operation room as it is engineered to increase surgical reproducibility, reduce variability, and to enhance workflow.
Forecast Analysis of Intraoperative Neuromonitoring Industry
Global intraoperative neuromonitoring market is estimated to witness a positive growth during the forecast period. Continuous growth in technology innovations is creating massive opportunities for the vendors in the global market. Increasing trend towards medical tourism is also predicted to drive the market growth from 2019 to 2026. However, lack of awareness amongst people in the developing economies regarding intraoperative neuromonitoring systems is restricting the growth of intraoperative neuromonitoring market.
Growing geriatric population and rising occurrence of chronic health disorders all over the globe are some of the significant factors giving substantial uplift to the growth of intraoperative neuromonitoring market in the near future. As per the Research Dive report statistics, the intraoperative neuromonitoring monitoring market is expected to reach up to $3,413.0 million by the end of 2026. Geographically, the North America region is likely to dominate the industry owing to growing preference of patients for neuromonitoring systems and well-organized healthcare infrastructure in this region. In addition, the report profiles prominent players operating in the global market who are focusing more introducing technology innovations and product development to maintain a strong position in the global industry.
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