Intraoperative Neuromonitoring Market Size, Trends and Growth Analysis by 2027

The global market for intraoperative neuromonitoring is projected to grow significantly, reaching approximately US$ 4,199.95 million by 2027, up from US$ 2,341.92 million in 2019. This growth trajectory indicates a compound annual growth rate (CAGR) of 7.6% from 2020 to 2027.

Several factors are contributing to the expansion of the intraoperative neuromonitoring market. Notably, the rising prevalence of neurological disorders and the continuous advancements in neuromonitoring technology are key drivers. However, the market faces challenges, particularly due to a shortage of skilled professionals, which may impede its growth.

Technological innovations in neuromonitoring have significantly enhanced surgical safety, especially when the central nervous system (CNS) is involved. The introduction of advanced products in this field is further propelling market growth. For example, in February 2019, Alphatec Holdings Inc. received FDA clearance for its automated SafeOp neuromonitoring system. This system provides real-time assessments of nerve location and health during surgery. To date, SafeOp technology has been utilized in over 1,000 surgeries, demonstrating its reliability in monitoring peripheral nerves during spinal procedures.

Moreover, advancements in intraoperative neuromonitoring have led to the creation of sophisticated systems that enhance patient monitoring throughout surgical interventions. A notable development occurred in February 2018, when the Centers for Medicare & Medicaid Services approved the SpineTRACK Registry by NuVasive, Inc. This innovative device enables surgeons to access real-time data reports, facilitating timely medical decisions during operations.

The global intraoperative neuromonitoring market is categorized based on various factors, including product type, source, modality, application, and end-user. Within the product category, the market is divided into systems, accessories, and services. The systems segment dominated the market in 2019, while the services segment is expected to exhibit the highest CAGR during the forecast period.

In terms of source, the market is classified into insourced and outsourced monitoring. The application segment encompasses spinal surgery, neurosurgery, vascular surgery, ENT surgery, orthopedic surgery, and other surgical procedures. Additionally, the modality segment includes motor evoked potentials, somatosensory evoked potentials, electroencephalography, electromyography, brainstem auditory evoked potentials, and visual evoked potentials. Finally, the end-user segment is divided into hospitals and ambulatory surgical centers.

To compile this report, several reputable secondary sources were consulted, including the Federation of Italian Medical and Scientific Societies, the World Health Organization (WHO), SOCIETA ITALIANA DI NEUROSCIENZE, the European Medical Association, the Administraci?n Nacional de Medicamentos, Alimentos y Tecnolog?a M?dica, and the Canada First Research Excellence Fund.

In conclusion, the intraoperative neuromonitoring market is on a robust growth path, driven by technological advancements and the increasing incidence of neurological conditions. However, addressing the shortage of skilled professionals will be crucial for sustaining this growth and ensuring the effective implementation of neuromonitoring technologies in surgical settings.