Rise in prevalence of chronic diseases, rise in geriatric population and applications of IONM in various surgeries drive the growth of the global intraoperative neuromonitoring market. WILMINGTON, Del., Jan. 11, 2024 /PRNewswire/ -- Allied Market Research published a report, titled, "Intraoperative Neuromonitoring Market by Products and Services (Systems, Accessories, Services), Source Type (Insourced Monitoring, Outsourced Monitoring), Application (Spinal Surgery, Neurosurgery, Vascular Surgery, ENT Surgery, Orthopedic Surgery, Other surgeries), Modality (Motor evoked potentials (MEPs), Somatosensory evoked potentials (SSEPs), Electroencephalography (EEG), Electromyography (EMG), Brainstem auditory evoked potentials (BAEPs), Visual evoked potentials (VEPs)), and End User (Hospitals, Ambulatory Surgical Centers (ASCs)): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global intraoperative neuromonitoring market was valued at $4.8 billion in 2022, and is projected to reach $8.7 billion by 2032, registering a CAGR of 6.1% from 2023 to 2032. Request Sample of the Report on Intraoperative Neuromonitoring Market Forecast 2032- https://www.alliedmarketresearch.com/request-sample/1920 Prime determinants of growth Growing healthcare infrastructure, rise in prevalence of chronic conditions that require accurate monitoring, and growing awareness regarding the use of intraoperative neuromonitoring are the factors that drive the growth of the global intraoperative neuromonitoring market. However, lack of skilled professionals hinder market growth. On the contrary, a rise in healthcare expansion is expected to offer remunerative opportunities for the intraoperative neuromonitoring market during the forecast period. Report coverage & details: Report Coverage Details Forecast Period 2023-2032 Base Year 2022 Market Size in 2022 $4.8 billion Market Size in 2032 $8.7 billion CAGR 6.1 % No. of Pages in Report 251 Segments covered Products & services, source type, application, modality, end user and region Drivers Rise in prevalence of chronic diseases Rise in geriatric population Applications of IONM in various surgeries Opportunities Growth opportunities in emerging markets Restraints Dearth of skilled professionals Economic Downturn Analysis: Impact of Recession in 2023 on the Intraoperative Neuromonitoring Market During a recession, the impact on the healthcare industry, including intraoperative neuromonitoring, can be significant.The economic downturns may hinder technology investment. However, the growing number of chronic diseases and the rising focus on risk management can drive interest in intraoperative neuromonitoring for cost-effectiveness and remote diagnostics. Have a Question? Connect to our Analyst- https://www.alliedmarketresearch.com/connect-to-analyst/1920 The services segment to maintain its lead position during the forecast period. Based on product & service, the services segment dominated the market in 2022, accounting more than two-fifths of the global intraoperative neuromonitoring market, this is attributed to the increasing adoption of comprehensive service packages offered by intraoperative neuromonitoring (IONM) providers. These service packages often include not only the deployment of monitoring technologies but also training programs, continuous technical support, and real-time monitoring during surgical procedures.?However, the system segment is expected to register highest CAGR of 6.9% during the forecast period owing to increasing technological advancements and innovations in intraoperative neuromonitoring (IONM) systems. As technology evolves, newer and more sophisticated monitoring systems are introduced, offering enhanced capabilities, improved accuracy, and additional features. The insourced monitoring segment to maintain its lead position during the forecast period. Based on source type, the insourced monitoring segment dominated the market in 2022, accounting more than half of the global intraoperative neuromonitoring market. This is attributed to the strategic advantages and cost-effectiveness associated with insourced monitoring. Healthcare facilities are increasingly opting for in-house intraoperative neuromonitoring (IONM) services, driven by the desire for greater control, customization, and direct oversight of monitoring processes.?However, the outsourced monitoring segment is expected to register highest CAGR of 6.7% during the forecast period. Outsourced monitoring offers the advantage of accessing specialized expertise without the need for in-house development and management. This approach reduces the burden on healthcare facilities to maintain dedicated personnel and infrastructure, providing a more flexible and cost-effective solution. The spinal surgery segment to maintain its lead position during the forecast period. Based on application, the spinal surgery segment dominated the market in 2022, accounting more than one-fourth of the global intraoperative neuromonitoring market, this is attributed to the increasing prevalence of spinal disorders and a growing number of spinal surgeries globally. As the aging population expands, so does the incidence of conditions such as degenerative disc disease, spinal stenosis, and herniated discs, necessitating surgical interventions.? However, the orthopedic surgery segment is expected to register highest CAGR of 8.0% during the forecast period. Orthopedic procedures, ranging from joint replacements to complex bone reconstructions, often involve proximity to critical neural structures. The demand for IONM in orthopedic surgery is driven by the need to enhance precision and reduce the risk of neurological complications. The electromyography (EMG) segment to maintain its lead position during the forecast period. Based on modality, the electromyography (EMG) segment dominated the market in 2022, accounting more than one-fourth of the global intraoperative neuromonitoring market, this is attributed to the pivotal role of electromyography (EMG) in providing real-time monitoring and assessment of motor nerve function during surgical procedures. In addition, it enables surgeons to assess the integrity of motor nerves, detect abnormalities, and make immediate adjustments to prevent potential neurological damage.?However, the brainstem auditory evoked potential (BAEPs) segment is expected to register highest CAGR of 8.8% during the forecast period. BAEPs are crucial for monitoring the auditory pathways during surgeries, particularly those involving the brainstem. As awareness grows regarding the benefits of monitoring auditory pathways, BAEPs are anticipated to witness heightened utilization. The hospital segment to maintain its lead position during the forecast period. Based on end user, the hospital segment accounted for the largest share in 2022, accounting for almost three-fifths of the global intraoperative neuromonitoring market revenue. This is primarily attributed to the vital role of hospitals as primary healthcare institutions, handling a diverse range of surgical procedures, including complex and critical interventions. Hospitals, being major centers for surgeries and medical interventions, extensively utilize IONM to minimize the risk of neurological complications. However, the ambulatory surgical centers (ASCs) segment is projected to register highest CAGR of 6.9% during the forecast period owing to the increasing prominence of intraoperative neuromonitoring (IONM) in outpatient settings. ASCs are increasingly adopting IONM technologies due to advancements that enable more efficient and cost-effective monitoring during a wide range of surgical procedures. For Procurement Information- https://www.alliedmarketresearch.com/purchase-enquiry/1920 North America to maintain its dominance by 2032 Based on region, North America held the highest market share in terms of revenue in 2022, accounting for more than two-fifths of the global intraoperative neuromonitoring market revenue owing to growing access to advanced medical technologies and a well-developed network of healthcare facilities. Additionally, the high incidence of chronic conditions and the aging population contribute to the sustained demand for healthcare services. However, the Asia-Pacific segment is projected to register highest CAGR of 7.2% during the forecast period owing to increase in adoption of intraoperative neuromonitoring technologies and high prevalence of chronic diseases. Moreover, rise in investments and presence of key players in the intraoperative neuromonitoring field majorly drives the growth of the market in Asia-Pacific. Leading Market Players: - NuVasive Inc.Medtronic plcComputational Diagnostics Inc.Natus Medical Incorporated.AccurateMonitoring LLCinomed Medizintechnik GmbHNihon Kohden CorporationSpecialtyCareIntranerve Neuroscience Holdings LLCNeuroStyle Pte.Ltd. The report provides a detailed analysis of these key players of the global intraoperative neuromonitoring market. These players have adopted different strategy such as product approval, acquisition and expansion to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario. 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