NEW
YORK, July 17, 2024 /PRNewswire/ -- The
intraoperative neuromonitoring market size in US is estimated
to grow by USD 573.22 million from
2023-2027, according to Technavio. The market is estimated to grow
at a CAGR of over 5.8% during the forecast period.
Increasing number of surgeries that require ionm is driving
market growth, with a trend towards increasing number of
acquisitions related to IoNM. However, high cost of ionm
devices and procedures poses a challenge. Key market players
include Accurate Neuromonitoring LLC, Assure Holdings Corp.,
Cadwell Industries Inc., Comprehensive Care Services, Computational
Diagnostics Inc., EMOTIV, inomed Medizintechnik GmbH, IntraNerve
Neuroscience Holdings LLC, Medsurant Health, Medtronic Plc, Natus
Medical Inc., Neuro Alert, NeuroMonitoring Technologies, Neurosoft,
Nihon Kohden Corp., Nuvasive Inc., Orimtec, ProPep Surgical,
SpecialtyCare Inc., and Technomed.
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Intraoperative
Neuromonitoring Market Scope In US
|
Report
Coverage
|
Details
|
Base year
|
2022
|
Historic
period
|
2017 - 2021
|
Forecast
period
|
2023-2027
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
5.8%
|
Market growth
2023-2027
|
USD 573.22
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
5.15
|
Regional
analysis
|
US
|
Performing market
contribution
|
North America at
100%
|
Key
countries
|
US
|
Key companies
profiled
|
Accurate
Neuromonitoring LLC, Assure Holdings Corp., Cadwell Industries
Inc., Comprehensive Care Services, Computational Diagnostics Inc.,
EMOTIV, inomed Medizintechnik GmbH, IntraNerve Neuroscience
Holdings LLC, Medsurant Health, Medtronic Plc, Natus Medical Inc.,
Neuro Alert, NeuroMonitoring Technologies, Neurosoft, Nihon Kohden
Corp., Nuvasive Inc., Orimtec, ProPep Surgical, SpecialtyCare Inc.,
and Technomed
|
Market Driver
The Intraoperative Neuromonitoring (IONM) market in the US is
witnessing an uptick in strategic acquisitions. Notably, Assure
Holdings Corp., an IONM and remote neurology service provider,
acquired the assets of Neuroprotect Neuromonitoring, LLC and its
affiliated entities in late 2022. This acquisition included
material contracts, commercial partnerships, tangible assets, and
accounts receivable. In another development, INN, an IONM services
provider, expanded its footprint in Minnesota in September
2021 and acquired a Midwest IONM provider in December 2022. These acquisitions enable vendors
to broaden their geographic reach and fortify their market
presence, fueling the growth of the IONM market in the
US.
The Intraoperative Neuromonitoring (IONM) market in the US is
experiencing significant growth due to the increasing number of
surgeries for demographic-specific health conditions like stroke,
epilepsy, Alzheimer's disease, and mental disorders. The lack of
awareness about IONM among surgeons and healthcare providers is a
major challenge. The skilled personnel required for IONM are in
high demand, leading to a shortage and increased costs. Insourcing
and outsourcing IONM services are becoming popular trends, with
hospitals and Ambulatory Surgery Centers (ASCs) opting for both.
The market is segmented into system and service segments, with
spinal and orthopedic surgeries dominating the market. Technologies
like artificial intelligence and machine learning are being
integrated into IONM to improve accuracy and efficiency.
Reimbursement policies, recession, and healthcare budgets are
factors affecting market growth. The elderly population, with
conditions like cerebral stroke, osteoarthritis (OA), and joint
replacements, are major consumers of IONM services. The Nervous
System Disorders Association and Osteoarthritis Action Alliance are
advocating for increased awareness and funding for IONM. Medical
imaging and remote patient monitoring are complementary
technologies to IONM. The World Health Organization and NIMH are
also promoting the use of IONM for complex bone reconstructions and
neural pathway monitoring. The market is expected to grow despite
challenges, with the auditory pathways, brainstem, motor nerve
function, and electromyography (EMG) segments showing significant
potential. Electroencephalography (EEG) is another emerging
technology in IONM. The market is expected to continue growing,
driven by the increasing prevalence of neurological conditions and
the need for improved patient safety during surgeries.
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Market Challenges
- The Intraoperative Neuromonitoring (IONM) market in the US
is experiencing growth, but the high cost of IONM devices and
procedures is limiting their adoption by end-users. IONM devices,
such as EEGs, come in various channel numbers, with 1-32 channel
devices costing between USD1,000 and
USD25,000, and those with more than
64 channels costing over USD25,000.
Portable amplifiers for longer EMG recordings can cost over
USD20,000. End-users also face
additional expenses for maintenance and instruments. Many opt for
refurbished IONM devices, which offer cost savings and benefits
like warranty and after-sales services. Companies like Alternative
Source Medical provide refurbished IONM devices, impacting sales of
new devices from established vendors. Patients, even with insurance
coverage, find IONM procedures expensive due to additional
technology, equipment, and operator costs, prolonged hospital
stays, and surgical complications. Medicare payments for IONM are
lower than those from private insurers, not covering technicians.
These factors contribute to the high cost of IONM, hindering market
growth in the US.
- ai_dominating_segment_factor
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Segment Overview
This intraoperative neuromonitoring market in US report
extensively covers market segmentation by
- Application
- 1.1 Orthopedic and neurosurgeries
- 1.2 Cardiovascular surgeries
- 1.3 ENT surgeries
- 1.4 Others
- Type
- 2.1 Insourced IONM
- 2.2 Outsourced IONM
- Geography
1.1 Orthopedic and neurosurgeries-
Intraoperative Neuromonitoring (IONM) is a valuable tool used in
various complex spine surgical procedures such as cervical,
thoracic, and lumbar spine fusion, nerve root decompression, and
corrective procedures for scoliosis in pediatric and adult
patients. With the increase in complex spine surgeries involving
aggressive deformity correction and tumor resection, the risk of
neurological complications post-surgery has become a significant
concern. IONM helps assess, in real-time, the function of the
spinal cord and nerve roots, reducing the risk of neurological
complications, including cauda equina syndrome, spinal length
discrepancies, and nerve root injuries. IONM modalities, including
SEPs, MEPs, BAEPs, EEGs, and EMGs, provide simultaneous clinical
neural information throughout the surgery, allowing for prompt
corrective action if necessary. IONM is also used in neurosurgeries
for brain tumor removal procedures, microvascular decompression,
peripheral nerve injury, brachial plexus nerve injury, and
brainstem decompression. In orthopedic surgeries, IONM is used to
monitor the integrity of neural pathways during procedures such as
acetabular fractures, hip joint surgeries, including total hip
arthroplasty revisions, periacetabular osteotomies (PAOS), hip
arthroscopy, arthroscopic-assisted treatment of hamstring avulsion,
and ischial tunnel syndrome. The use of IONM in orthopedic and
neurosurgeries will drive the growth of the IONM market in the US
during the forecast period.
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analysis including forecast (2023-2027) and historic data
(2017-2021) - Download a Sample Report
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reports
The global neuromodulation market is rapidly expanding, driven
by advancements in medical technology and increasing prevalence of
neurological disorders. Neuromodulation devices, such as spinal
cord stimulators and deep brain stimulators, offer effective
treatment options for chronic pain, Parkinson's disease, and
epilepsy. Market growth is supported by rising healthcare
expenditure and growing aging population globally.
The global neurology devices market is poised for substantial
growth, fueled by rising neurological disorders like Alzheimer's
and stroke. Devices such as MRI systems, neurostimulation devices,
and neurosurgery instruments are critical in diagnosis and
treatment. Technological advancements, coupled with increasing
healthcare awareness, drive market expansion, particularly in
developed regions. Innovation in minimally invasive procedures and
personalized medicine continues to shape the market's
evolution.
Research Analysis
The Intraoperative Neuromonitoring (IONM) market in the US is
witnessing significant growth due to the increasing prevalence of
chronic diseases such as Brain implants for Parkinson's disease and
Deep brain stimulation for Movement disorders and Neurological
disorders. IONM is essential in Neurosurgery, especially during
Cardiovascular conditions, to ensure patient safety. The geriatric
population, with a higher prevalence of Chronic diseases, is a
significant consumer of IONM. Neurosurgery devices like Surgical
microscopes, Ophthalmic surgical devices, and Surgical robots are
integral to IONM. However, the lack of awareness and skilled
personnel pose challenges to the market's growth. Stroke, Epilepsy,
Alzheimer's disease, Mental disorders, and Cancer are other
conditions where IONM is used. Medical imaging, Artificial
intelligence, and Machine learning are transforming IONM, while
Healthcare reimbursement policies continue to evolve.
Osteoarthritis (OA) is not directly related to IONM but can
indirectly benefit from it through improved surgical outcomes.
Market Research Overview
The Intraoperative Neuromonitoring (IONM) market in the US has
been gaining significant traction due to the increasing prevalence
of neurological disorders, such as Parkinson's disease, Epilepsy,
Alzheimer's disease, and Stroke, as well as the growing number of
elective surgeries and elderly population. IONM is essential for
ensuring patient safety during surgeries, particularly those
involving the nervous system, such as brain implants, deep brain
stimulation, and spinal surgery. The market is segmented into
system and service segments, with insourced and outsourced
monitoring options. Neurological conditions like brain tumors,
cerebral stroke, and epilepsy require real-time monitoring of
neural pathways and motor nerve function. The use of surgical
microscopes, ophthalmic surgical devices, and surgical robots
facilitates precise surgeries, reducing the risk of complications.
However, challenges such as lack of awareness, skilled personnel
shortage, and healthcare budget constraints may hinder market
growth. Reimbursement policies, recession, and remote patient
monitoring are other factors influencing the market dynamics. The
market includes various technologies like electromyography (EMG),
electroencephalography (EEG), and auditory pathways monitoring. The
market caters to hospitals, ASCs, and outpatient settings, with a
focus on minimally invasive procedures and post-imaging
assessments. The World Health Organization and organizations like
the Osteoarthritis Action Alliance emphasize the importance of
addressing demographic-specific health conditions, such as
osteoarthritis (OA), heart disease, COPD, and diabetes, which may
require IONM solutions. The aging population and the increasing
prevalence of chronic diseases, such as cancer and mental
disorders, further boost the market demand. The use of artificial
intelligence and machine learning in IONM solutions enhances the
accuracy and efficiency of monitoring, making it an indispensable
tool in healthcare.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Application
-
- Orthopedic And Neurosurgeries
- Cardiovascular Surgeries
- ENT Surgeries
- Others
- Type
-
- Insourced IONM
- Outsourced IONM
- Geography
-
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
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