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LI2004162 |
Pages: 120 |
Mar 2020 |
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.
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.
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.
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.
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 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 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.
| Aspect | Particulars |
| Historical Market Estimations | 2018-2019 |
| Base Year for Market Estimation | 2018 |
| Forecast timeline for Market Projection | 2019-2026 |
| Geographical Scope | North America, Europe, Asia-Pacific, LAMEA |
| Segmentation by Monitoring Type |
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| Segmentation by Application
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| 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 |
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1.`Research Methodology
1.1.Desk Research
1.2.Real time insights and validation
1.3.Forecast model
1.4.Assumptions and forecast parameters
1.4.1.Assumptions
1.4.2.Forecast parameters
1.5.Data sources
1.5.1.Primary
1.5.2.Secondary
2.Executive Summary
2.1.360° summary
2.2.Monitoring type trends
2.3.Application trends
3.Market overview
3.1.Market segmentation & definitions
3.2.Key takeaways
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
3.4.Market dynamics
3.4.1.Drivers
3.4.2.Restraints
3.4.3.Opportunities
3.5.Technology landscape
3.6.Regulatory landscape
3.7.Patent landscape
3.8.Market value chain analysis
3.9.Strategic overview
4.Intraoperative Neuromonitoring Market, by Monitoring type
4.1.Insourced monitoring
4.1.1.Market size and forecast, by region, 2018-2026
4.1.2.Comparative market share analysis, 2018 & 2026
4.2.Outsourced monitoring
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.Cardiovascular surgeries
5.2.1.Market size and forecast, by region, 2018-2026
5.2.2.Comparative market share analysis, 2018 & 2026
5.3.ENT surgeries
5.3.1.Market size and forecast, by region, 2018-2026
5.3.2.Comparative market share analysis, 2018 & 2026
5.4.Orthopedic surgeries
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.North America
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
6.1.5.U.S.
6.1.5.1.Market size and forecast, by monitoring type, 2018-2026
6.1.5.2.Market size and forecast, by application, 2018-2026
6.1.5.3.Comparative market share analysis, 2018 & 2026
6.1.6.Canada
6.1.6.1.Market size and forecast, by monitoring type, 2018-2026
6.1.6.2.Market size and forecast, by application, 2018-2026
6.1.6.3.Comparative market share analysis, 2018 & 2026
6.1.7.Mexico
6.1.7.1.Market size and forecast, by monitoring type, 2018-2026
6.1.7.2.Market size and forecast, by application, 2018-2026
6.1.7.3.Comparative market share analysis, 2018 & 2026
6.2.Europe
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
6.2.5.Germany
6.2.5.1.Market size and forecast, by monitoring type, 2018-2026
6.2.5.2.Market size and forecast, by application, 2018-2026
6.2.5.3.Comparative market share analysis, 2018 & 2026
6.2.6.UK
6.2.6.1.Market size and forecast, by monitoring type, 2018-2026
6.2.6.2.Market size and forecast, by application, 2018-2026
6.2.6.3.Comparative market share analysis, 2018 & 2026
6.2.7.France
6.2.7.1.Market size and forecast, by monitoring type, 2018-2026
6.2.7.2.Market size and forecast, by application, 2018-2026
6.2.7.3.Comparative market share analysis, 2018 & 2026
6.2.8.Spain
6.2.8.1.Market size and forecast, by monitoring type, 2018-2026
6.2.8.2.Market size and forecast, by application, 2018-2026
6.2.8.3.Comparative market share analysis, 2018 & 2026
6.2.9.Italy
6.2.9.1.Market size and forecast, by monitoring type, 2018-2026
6.2.9.2.Market size and forecast, by application, 2018-2026
6.2.9.3.Comparative market share analysis, 2018 & 2026
6.2.10.Rest of Europe
6.2.10.1.Market size and forecast, by monitoring type, 2018-2026
6.2.10.2.Market size and forecast, by application, 2018-2026
6.2.10.3.Comparative market share analysis, 2018 & 2026
6.3.Asia Pacific
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
6.3.5.China
6.3.5.1.Market size and forecast, by monitoring type, 2018-2026
6.3.5.2.Market size and forecast, by application, 2018-2026
6.3.5.3.Comparative market share analysis, 2018 & 2026
6.3.6.India
6.3.6.1.Market size and forecast, by monitoring type, 2018-2026
6.3.6.2.Market size and forecast, by application, 2018-2026
6.3.6.3.Comparative market share analysis, 2018 & 2026
6.3.7.Japan
6.3.7.1.Market size and forecast, by monitoring type, 2018-2026
6.3.7.2.Market size and forecast, by application, 2018-2026
6.3.7.3.Comparative market share analysis, 2018 & 2026
6.3.8.Australia
6.3.8.1.Market size and forecast, by monitoring type, 2018-2026
6.3.8.2.Market size and forecast, by application, 2018-2026
6.3.8.3.Comparative market share analysis, 2018 & 2026
6.3.9.Rest of Asia Pacific
6.3.9.1.Market size and forecast, by monitoring type, 2018-2026
6.3.9.2.Market size and forecast, by application, 2018-2026
6.3.9.3.Comparative market share analysis, 2018 & 2026
6.4.LAMEA
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
6.4.5.Latin America
6.4.5.1.Market size and forecast, by monitoring type, 2018-2026
6.4.5.2.Market size and forecast, by application, 2018-2026
6.4.5.3.Comparative market share analysis, 2018 & 2026
6.4.6.Middle East
6.4.6.1.Market size and forecast, by monitoring type, 2018-2026
6.4.6.2.Market size and forecast, by application, 2018-2026
6.4.6.3.Comparative market share analysis, 2018 & 2026
6.4.7.Africa
6.4.7.1.Market size and forecast, by monitoring type, 2018-2026
6.4.7.2.Market size and forecast, by application, 2018-2026
6.4.7.3.Comparative market share analysis, 2018 & 2026
7.Company profiles
7.1.NuVasive, Inc.
7.1.1.Business overview
7.1.2.Financial performance
7.1.3.Product portfolio
7.1.4.Recent strategic moves & developments
7.1.5.SWOT analysis
7.2.Computational Diagnostics, Inc.
7.2.1.Business overview
7.2.2.Financial performance
7.2.3.Product portfolio
7.2.4.Recent strategic moves & developments
7.2.5.SWOT analysis
7.3.NIHON KOHDEN CORPORATION
7.3.1.Business overview
7.3.2.Financial performance
7.3.3.Product portfolio
7.3.4.Recent strategic moves & developments
7.3.5.SWOT analysis
7.4.Moberg Research, Inc.
7.4.1.Business overview
7.4.2.Financial performance
7.4.3.Product portfolio
7.4.4.Recent strategic moves & developments
7.4.5.SWOT analysis
7.5.Medsurant Health
7.5.1.Business overview
7.5.2.Financial performance
7.5.3.Product portfolio
7.5.4.Recent strategic moves & developments
7.5.5.SWOT analysis
7.6.Cadwell Industries, Inc.
7.6.1.Business overview
7.6.2.Financial performance
7.6.3.Product portfolio
7.6.4.Recent strategic moves & developments
7.6.5.SWOT analysis
7.7.Medtronic
7.7.1.Business overview
7.7.2.Financial performance
7.7.3.Product portfolio
7.7.4.Recent strategic moves & developments
7.7.5.SWOT analysis
7.8.Medgadget, Inc.
7.8.1.Business overview
7.8.2.Financial performance
7.8.3.Product portfolio
7.8.4.Recent strategic moves & developments
7.8.5.SWOT analysis
7.9.IntraNerve Neuroscience Holdings, LLC
7.9.1.Business overview
7.9.2.Financial performance
7.9.3.Product portfolio
7.9.4.Recent strategic moves & developments
7.9.5.SWOT analysis
7.10.Accurate Monitoring
7.10.1.Business overview
7.10.2.Financial performance
7.10.3.Product portfolio
7.10.4.Recent strategic moves & developments
7.10.5.SWOT analysis
7.11.NeuroMonitoring Technologies, Inc.
7.11.1.Business overview
7.11.2.Financial performance
7.11.3.Product portfolio
7.11.4.Recent strategic moves & developments
7.11.5.SWOT analysis
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