Intraoperative Neuromonitoring Market Is Growing At A CAGR of 7% by 2022 | Computational Diagnostics, Inc., SpecialtyCare

IONM systems segment accounted for nearly half of the total market in 2015. IONM systems help in the identification of neural structures during a surgery. This helps the surgeons to prevent any damage to the nervous system, which may be caused during the surgery and reduce post-operative complications. Thus, IONM systems identify any progressive threat to the nervous system and alert the surgeon prior to reaching the patients threshold for injury.

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Global Intraoperative Neuromonitoring (IONM) Market was valued at $3,036 million in 2015, and is projected to reach $4,900 million by 2022, growing at a CAGR of 7% from 2016 to 2022

COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

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Ageing population, increase in prevalence of chronic disorders, applications of IONM in different surgeries, and risk management through IONM during complex surgeries drive the market. However, low awareness of IONM in developing nations and lack of skilled professionals restrain the market growth. Increase in medical tourism and growth opportunities in the emerging economies of the Asia-Pacific and LAMEA regions are expected to provide several opportunities for key players.

Outsourced IONM monitoring is growing at a fast pace due to its benefits over insourced monitoring. Now-a-days, hospitals do not prefer insourced monitoring as they have to appoint a full-time employee with the required skill set and they cannot offer the training standardization required to improve the quality of service. Thus, outsourced monitoring is in demand among hospitals and ASCs, and the market gradually shifts toward outsourced monitoring services.

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IONM is most commonly used during spinal and neurosurgery. However, there is an increase in the use of IONM for orthopedic as well as ENT surgeries as these surgeries pose a potential risk to the neural structures and require a technique, which protects nerves (and other related structures) during the procedure.

"IONM would improve intraoperative decision-making, by guiding a surgeons hands during surgery to reduce potential neurological risk. This benefits patients with a better surgical outcome and reduces a surgeons liability to a great extent." states Deepa Tatkare, Senior Analyst, Healthcare Research at AMR.

North America accounted for majority of the share (more than two-fifths) in the market in 2015, and is expected to remain dominant throughout the forecast period. This is attributed to the presence of a large number of hospitals, and increase in number of surgeries in the region. In addition, awareness among people for IONM is anticipated to provide new growth opportunities for the key players in this market. In addition, rise in geriatric population, increase in incidence of spinal deformities, spinal stenosis, disc compression, and other chronic disorders drive the IONM market in Europe.

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The Major Key Players Are:

Medtronic plc, NuVasive, Inc., Computational Diagnostics, Inc., SpecialtyCare, Natus Medical Incorporated., IntraNerve, LLC, inomed Medizintechnik GmbH, AccurateMonitoring LLC, Nihon Kohden Corporation, and Moberg Research, Inc.

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