Global Intraoperative Neuromonitoring Market 2018-2022 | Emergence of Portable IONM to Boost Demand | Technavio
LONDON--(BUSINESS WIRE)--Oct 11, 2018-- analysts forecast the global intraoperative neuromonitoring market to grow at a CAGR of over 9% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global intraoperative neuromonitoring market to grow at a CAGR of over 9% by 2022. (Graphic: Business Wire)
The emergence of portable IONM is one of the major trends being witnessed in the . IONM provides high-quality monitoring during complex spine and brain surgeries. Vendors in the market are offering compact, mobile and uniquely designed portable IONM systems. Portable IONM systems address the requirement of fast-paced operating rooms.
According to Technavio analysts, one of the key factors contributing to the growth of the global intraoperative neuromonitoring market is the growing volume of surgeries:
Global intraoperative neuromonitoring market: Growing volume of surgeries
The increasing number of surgeries drive the adoption of IONM. IONM provides the real-time status of nerves and the spinal cord during surgeries. It helps to protect a patient during surgery by providing crucial neurophysiological information in real-time to the surgeon. The continuous assessment of the functionality of the patient’s nervous system helps the surgeon avoid permanent damage to the neural structures while performing surgery.
According to a senior analyst at Technavio, “The US market will witness significant growth in several surgery types that regularly employ IONM. This surge in the volume of surgeries will be further supported by an expansion in the number of citizens with commercial health insurance. Thus, the increase in the volume of surgery directly increases the demand and adoption of IONM, thereby driving growth in the market.”
Global intraoperative neuromonitoring market: Segmentation analysis
The global intraoperative neuromonitoring market research report provides market segmentation by the application (neuro and spine surgeries, cardiovascular surgeries, ENT surgeries, orthopedic surgeries, and other surgeries), by end-user (hospitals, ASCs, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, hospitals and ASCs, the hospital’s segment held the largest market share in 2017, contributing to over 47% of the market. The growth in the segment can be due to the increasing prevalence of neurological disorders, growing focus on early diagnosis and prevention, rising number neuro-diagnostic procedures, availability of skilled neurologists, and the growing adoption of technologically advanced brain monitoring devices in hospitals and clinics.
The Americas held the largest share of the market in 2017, accounting for close to 71% share, followed by EMEA and APAC respectively. The Americas is expected to continue to dominate the market during the forecast period.
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Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 10/11/2018 11:11 AM/DISC: 10/11/2018 11:11 AM