Intraoperative Neuromonitoring Market Report
Intraoperative Neuromonitoring Market, by Monitoring Type (Insourced Monitoring, Outsourced Monitoring), Application (Neuro & Spine Surgeries, Cardiovascular Surgeries, ENT Surgeries, and Orthopedic Surgeries), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019-2026
Update Available On-Demand
Global Intraoperative Neuromonitoring Industry Insights 2026:
The global intraoperative neuromonitoring market forecast will surpass $3,413.0 million by 2026, at a CAGR of 4.5%, increasing from $2,400.0 million in 2018. Asia-Pacific region will experience a significant growth and is estimated to generate a revenue of $645.1 million till 2026. The global market is dominated by North America region and it accounted for $1,231.0 million in 2018.
Intraoperative neuromonitoring is also called intraoperative neurophysiological monitoring, which is used in electrophysiological methods including electromyography and electroencephalography. Intraoperative neuromonitoring systems play a key role in monitoring the functional integrity of several neural structures such as spinal cord, nerves, brains and ENT during the surgeries. The main principle of intraoperative neuromonitoring is to minimize the risk of patient throughout the surgery.
Intraoperative Neuromonitoring Market Synopsis
The market for intraoperative neuromonitoring is primarily driven by the technological advancements and growing trends for medical tourism across the globe.
The main restraining factors of the market are the dearth of skilled workforce and the low awareness about intraoperative neuromonitoring systems.
According to the regional analysis of the market, the North America market for intraoperative neuromonitoring is anticipated to surpass a revenue of $1,662.1 million, holding the highest market share during the review period.
Driving Factors: Rising old aged population and increasing frequency of chronic disorders are key driving factors for the growth of the global intraoperative neuromonitoring market
Intraoperative Neuromonitoring Market Drivers: Increasing geriatric population across the globe and growing prevalence of chronic health issues are significant drivers for the growth of the intraoperative neuromonitoring market. Moreover, intraoperative neuromonitoring is a key factor in neurosurgeries and it offers primary warnings during surgeries, thereby it yielding results by avoiding neurological surgery defects. Safer surgery procedures reduce the risk and time of surgeries. The abovementioned aspect is delivering to the growing importance on patient safety during complex operations and enhancing the market for intraoperative neuromonitoring procedures. Furthermore, the growing adoption of intraoperative neuromonitoring systems for several surgeries such as ENT, orthopedic and other surgeries is also estimated to be fueling the market growth.
Market Restraint: Dearth of skilled workforce is one of the major restraints restricting the growth of global intraoperative neuromonitoring market
The cost associated with treatment along with dearth of professionals required for the maintenance and control of the intraoperative neuromonitoring systems are the barriers for the growth of the market. In addition, low awareness about intraoperative neuromonitoring systems especially in the developing countries is also a restraint for the market growth.
Technical advancements and growing trend for medical tourism are providing significant investment opportunities for the intraoperative neuromonitoring market in the coming years
Increasing trend towards medical tourism is expected to generate substantial growth opportunities for the intraoperative neuromonitoring market in the coming years. In addition, continuous growth in technological advancements in intraoperative neuromonitoring are also projected to drive market growth in the coming years.
Insourced intraoperative neuromonitoring market held a considerable share in the global market; the size was over $1,401.6 million in 2018 and is anticipated to produce a revenue of $1,754.3 million by the end of 2026. This growth in the insourced monitoring segment is majorly because most of the intraoperative neuromonitoring processes are being carried out via insourced monitoring type during the surgeries in the hospitals to minimize mistakes. Outsourced intraoperative neuromonitoring market will grow at a fast pace and is projected to generate a revenue of $1,658.7 million by 2026. This expected growth in outsourced monitoring is due to hospitals and healthcare centers switching to outsourced monitoring type due to it being a cost-effective procedure.
The intraoperative neuromonitoring market for neuro & spine surgeries application accounted for the largest market size; it was valued at $830.4 million in 2018 and is projected to generate a revenue of $1,095.6 million by the end of 2026. This dominance is attributed to extensive usage of intraoperative neuromonitoring systems for continuous monitoring of neuro & spinal surgeries because these surgeries are very complex. In addition, intraoperative neuromonitoring systems can prevent unpleasant and unsuspected neurological defects even after spinal surgery; this factor is also estimated to boost the market growth. The orthopedic surgeries of intraoperative neuromonitoring market will experience a noticeable growth and is projected to generate a revenue of $921.5 million till 2026. This projected growth is majorly because of growing use of intraoperative neuromonitoring for orthopedic surgeries.
North America Intraoperative Neuromonitoring Market Overview 2026:
North America region has accounted for the highest intraoperative neuromonitoring market share in 2018, which was over 51.3% and is projected to continue its trend in the coming years. This trend is majorly because of well-organized healthcare infrastructure in North America region. Also, growing neurological health issues and increasing patient’s preference for neuromonitoring systems for surgeries are also estimated to drive the growth of the market in the North America region. Due to high adoption of intraoperative neuromonitoring, the North America market is estimated to generate a revenue of $1,662.1 million till the end of 2026.
Asia-Pacific Intraoperative Neuromonitoring Market 2026:
Asia-Pacific region will have massive growth opportunities for the market participants in the coming years
Asia-Pacific region will witness to grow at a significant rate and is projected to create major growth opportunities in terms of generating revenue in the estimated timeframe. This estimated growth is significantly owing to increase in the per capita income of people; they are able to bear the treatment expenses in developing economies in the Asia-Pacific region. In addition, emerging medical tourism along with increasing investments by the government on healthcare infrastructure is further anticipated to enhance the market growth throughout the forecast time.
The list of key intraoperative neuromonitoring market players profiled include NuVasive, Inc., Computational Diagnostics, Inc., NIHON KOHDEN CORPORATION, Moberg Research, Inc., Medsurant Health, Cadwell Industries, Inc., Medtronic, Medgadget, Inc., IntraNerve Neuroscience Holdings, LLC, Accurate Monitoring and NeuroMonitoring Technologies, Inc. These key players are implementing both inorganic and organic growth tactics such as new technology introduction, acquisitions, joint ventures and geographical expansions to increase their market size in the global intraoperative neuromonitoring industry.
Porter’s Five Forces Analysis for Intraoperative Neuromonitoring Market:
Bargaining Control of Dealers: This market has huge number of small & medium and large-scale dealers and changing price of intraoperative neuromonitoring systems is predicted to be high. The bargaining control of dealers is HIGH.
Bargaining Control of Buyer: The market contains high concentration of buyers and buyers can check the costs of different intraoperative neuromonitoring systems manufacturers. The bargaining control of buyers is HIGH.
Threat of New Participants: The market contains presence of significant participants, and stringent government regulations on the approval of intraoperative neuromonitoring systems are delivering HIGH threat of new participants in the market.
Threat of Substitute Systems: The intraoperative neuromonitoring market has a smaller number of substitute systems, therefore LOW threat of substitutes.
Rivalry among existing players: Intraoperative neuromonitoring market contains high number of significant participants. These significant participants are focusing on new technology introduction, mergers & acquisitions and joint ventures to gain competitive edge. This factor is resulting in HIGH rivalry among the existing players.
Historical Market Estimations
Base Year for Market Estimation
Forecast timeline for Market Projection
North America, Europe, Asia-Pacific, LAMEA
Segmentation by Monitoring Type
Segmentation by Application
Key Countries covered
U.S., Canada, Germany, UK, Italy, Spain, Russia, Japan, China, India, South Korea, Australia, Brazil, Argentina, GCC and Saudi Arabia
Key Companies Profiled
Q1. What is the size of Intraoperative Neuromonitoring Market?
A. The global intraoperative neuromonitoring market size was over $2,400.0 million in 2018 and is further anticipated to reach $3,413.0 million by 2026
Q2. Who are the leading companies in the Intraoperative Neuromonitoring Market?
A. Computational Diagnostics, Inc., Moberg Research, Inc., Cadwell Industries, Inc. and IntraNerve Neuroscience Holdings, LLC are some of the key players in the global Intraoperative Neuromonitoring Market.
Q3. Which region possesses greater investment opportunities in the coming future?
A. Asia-Pacific possesses great investment opportunities for the investors to witness the most promising growth in the coming years.
Q4. What is the North America region market size in 2018?
A. North America intraoperative neuromonitoring market accounted for $1,231.2 million in 2018.
Q5. What are the strategies opted by the leading players in this market?
A. Product development and joint ventures are the key strategies opted by the operating companies in this market.
1.2.Real time insights and validation
1.4.Assumptions and forecast parameters
2.2.Monitoring type trends
3.1.Market segmentation & definitions
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.Porter’s five forces analysis
3.3.1.Bargaining power of consumers
3.3.2.Bargaining power of suppliers
3.3.3.Threat of new entrants
3.3.4.Threat of substitutes
3.3.5.Competitive rivalry in the market
3.8.Market value chain analysis
4.Intraoperative Neuromonitoring Market, by Monitoring type
4.1.1.Market size and forecast, by region, 2018-2026
4.1.2.Comparative market share analysis, 2018 & 2026
4.2.1.Market size and forecast, by region, 2018-2026
4.2.2.Comparative market share analysis, 2018 & 2026
5.Intraoperative Neuromonitoring Market, by Application
5.1.Neuro & spine surgeries
5.1.1.Market size and forecast, by region, 2018-2026
5.1.2.Comparative market share analysis, 2018 & 2026
5.2.1.Market size and forecast, by region, 2018-2026
5.2.2.Comparative market share analysis, 2018 & 2026
5.3.1.Market size and forecast, by region, 2018-2026
5.3.2.Comparative market share analysis, 2018 & 2026
5.4.1.Market size and forecast, by region, 2018-2026
5.4.2.Comparative market share analysis, 2018 & 2026
6.Intraoperative Neuromonitoring Market, by Region
6.1.1.Market size and forecast, by monitoring type, 2018-2026
6.1.2.Market size and forecast, by application, 2018-2026
6.1.3.Market size and forecast, by country, 2018-2026
6.1.4.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
6.2.1.Market size and forecast, by monitoring type, 2018-2026
6.2.2.Market size and forecast, by application, 2018-2026
6.2.3.Market size and forecast, by country, 2018-2026
6.2.4.Comparative market share analysis, 2018 & 2026
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
6.2.10.Rest of Europe
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
6.3.1.Market size and forecast, by monitoring type, 2018-2026
6.3.2.Market size and forecast, by application, 2018-2026
6.3.3.Market size and forecast, by country, 2018-2026
6.3.4.Comparative market share analysis, 2018 & 2026
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
6.3.9.Rest of Asia Pacific
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
6.4.1.Market size and forecast, by monitoring type, 2018-2026
6.4.2.Market size and forecast, by application, 2018-2026
6.4.3.Market size and forecast, by country, 2018-2026
6.4.4.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
22.214.171.124.Market size and forecast, by monitoring type, 2018-2026
126.96.36.199.Market size and forecast, by application, 2018-2026
188.8.131.52.Comparative market share analysis, 2018 & 2026
184.108.40.206.Market size and forecast, by monitoring type, 2018-2026
220.127.116.11.Market size and forecast, by application, 2018-2026
18.104.22.168.Comparative market share analysis, 2018 & 2026
7.1.4.Recent strategic moves & developments
7.2.Computational Diagnostics, Inc.
7.2.4.Recent strategic moves & developments
7.3.NIHON KOHDEN CORPORATION
7.3.4.Recent strategic moves & developments
7.4.Moberg Research, Inc.
7.4.4.Recent strategic moves & developments
7.5.4.Recent strategic moves & developments
7.6.Cadwell Industries, Inc.
7.6.4.Recent strategic moves & developments
7.7.4.Recent strategic moves & developments
7.8.4.Recent strategic moves & developments
7.9.IntraNerve Neuroscience Holdings, LLC
7.9.4.Recent strategic moves & developments
7.10.4.Recent strategic moves & developments
7.11.NeuroMonitoring Technologies, Inc.
7.11.4.Recent strategic moves & developments
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.