Intraoperative Neuromonitoring Market to Grow with a CAGR of 4.75% through 2029

Improved patient safety, and growing awareness among healthcare professionals is expected to drive the Global Intraoperative Neuromonitoring Market growth in the forecast period, 2025-2029

According to TechSci Research report, “Intraoperative Neuromonitoring Market – Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Intraoperative Neuromonitoring Market stood at USD 2.52 billion in 2023 and is anticipated to grow with a CAGR of 4.75% in the forecast period, 2025-2029. This can be attributed to healthcare reimbursement policies. In some regions, favorable healthcare reimbursement policies for IONM services have facilitated its integration into surgical procedures. This financial support encourages healthcare providers to invest in the necessary equipment and expertise.

Furthermore, as IONM evolves, ethical considerations related to patient consent, data privacy, and responsible marketing are becoming more prominent. Patient advocacy groups are playing a crucial role in ensuring that IONM practices adhere to ethical standards and prioritize patient safety.

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The COVID-19 pandemic significantly impacted the intraoperative neuromonitoring (IONM) market, with hospitals globally postponing elective surgeries to prioritize resources for the pandemic response. Manufacturers faced challenges in serving surgeon clients due to restricted access to hospitals and changes in facility regulations, resulting in a decline in procedural volume in 2020 and hindering market growth.

Critically ill COVID-19 patients on invasive mechanical ventilation experienced a higher occurrence of neurological complications, leading to extended stays in the intensive care unit (ICU). During the pandemic, noninvasive neuromonitoring devices with multiple modes proved valuable in promptly detecting abnormalities in cerebrovascular parameters. The pandemic highlighted the importance of patient education, comprehensive recovery room assessments, early mobilization, and effective post-discharge communication, driving increased adoption of minimally invasive procedures and intraoperative neuromonitoring devices. These factors are expected to create growth opportunities by enhancing patient care and optimizing post-operative management strategies.

The increasing prevalence of neurovascular disorders will drive demand for minimally invasive procedures and advanced intraoperative neuromonitoring devices. Additionally, the aging population, more susceptible to chronic diseases, will boost demand for intraoperative neuromonitoring in various healthcare settings. Patients aged 65 and above are at higher risk of chronic illnesses, including heart disease, COPD, diabetes, cancer, and neurological issues. Alzheimer's disease, affecting one in ten individuals over 65, drives demand for emergency and non-emergency hospital treatments, supporting future market growth.

Manufacturers differentiate their products by focusing on monitoring the nervous system's health during spinal surgeries. Evolving IONM technology and techniques, with user-friendly proprietary software, make neuromonitoring devices appealing to surgeons and hospitals. Real-time decision-making during surgeries improves patient outcomes and drives industry growth. Advanced devices, such as neurosurgery equipment and surgical robots, reduce human intervention in surgical procedures, further supporting market growth. Government initiatives and awareness-raising efforts, like Accurate Neuromonitoring's services in Africa during the 2019 Weill Cornell Tanzania Neurosurgery Mission, are expected to increase demand for intraoperative neuromonitoring in the future.

The Global Intraoperative Neuromonitoring Market is segmented into type, regional distribution, and company.

In 2023, the insourced segment emerged as the market leader, securing the highest revenue share. This growth was fueled by the rising number of procedures and the imperative for ongoing monitoring of vital statistics throughout each operation. Hospitals are adopting intraoperative neuromonitoring (IONM) and investing in the training of technologists to supervise procedures in partnership with neurologists and physiologists. Although there are currently no established criteria for the utilization of neuromodulation devices, this practice is anticipated to become more prevalent as demand and usage continue to rise.

In the foreseeable future, the outsourced segment is anticipated to witness the most rapid growth rate. This trend is primarily driven by its cost-effectiveness and the availability of specialized service providers. As IONM (Intraoperative Neurophysiological Monitoring) devices continue to advance and enhance, outsourcing alleviates hospitals from the financial strain of acquiring and managing costly equipment. Moreover, it diminishes the necessity for extensive training of neurophysiologists to stay abreast of emerging technologies, thereby saving time. These factors collectively contribute to the increasing preference for outsourcing IONM procedures.

In terms of region, North America emerged as the dominant force in the market in 2023. This was attributed to favorable reimbursement conditions and the increasing prevalence of neurological disorders. For instance, data from the National Institute of Health and the Migraine Research Foundation highlighted the significant impact of conditions like strokes and migraines in the United States, driving market growth.

The Asia Pacific region is expected to experience the most rapid growth from 2024 to 2030. Emerging economies such as China, Japan, South Korea, and India are anticipated to witness substantial expansion during this period. The presence of key players like Medtronic, Natus Medical Incorporated, NuVasive, Inc., and Accurate Monitoring in China and Japan is poised to further boost market growth in the region.

Major companies operating in Global Intraoperative Neuromonitoring Market are:

• Natus Medical Inc
• Accurate Monitoring LLC
• Neuro Monitoring Technologies Inc
• Medtronic PLC
• NuVasive Inc
• SpecialtyCare Inc

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“The future of the Global Intraoperative Neuromonitoring Market is filled with exciting possibilities. With advancements in technology, increased integration with other surgical technologies, and a focus on personalized medicine, IONM is set to become an even more integral part of modern healthcare. As these trends continue to develop, the benefits of IONM will extend to a broader range of patients, enhancing safety and improving surgical outcomes across the globe. This is an exciting era for IONM, with its potential to transform surgical practices and ultimately improve the lives of countless patients,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Intraoperative Neuromonitoring Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Insourced, Outsourced), By Region, and By Competition, 2019-2029F”, has evaluated the future growth potential of Global Intraoperative Neuromonitoring Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Intraoperative Neuromonitoring Market.

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