Intraoperative Neuromonitoring (IONM) Market Size & Forecast By Type (Insource IONM, Outsource IONM), By Region (North America [U.S., Canada], Europe [UK, Germany], Asia Pacific [Japan, China], Latin America [Brazil, Mexico], MEA [South Africa]), And Trend Report

Intraoperative Neuromonitoring (IONM) Market Size & Forecast By Type (Insource IONM, Outsource IONM), By Region (North America [U.S., Canada], Europe [UK, Germany], Asia Pacific [Japan, China], Latin America [Brazil, Mexico], MEA [South Africa]), And Trend Analysis From 2014 - 2025

Published: February 2017  |  90 Pages  |  Format: PDF  |  Report ID: GVR-1-68038-767-4

Industry Insights

The global Intraoperative Neuromonitoring (IONM) market size was valued at USD 2.2 billion in 2015 and is projected to grow at a CAGR of 4.79% over the forecast period. The increasing emphasis on patient safety during complicated surgeries is driving the market for neuromonitoring during procedures. The huge burden of healthcare costs and patients’ desire to avoid readmission to hospitals are also some of the factors for adoption of intraoperative neuromonitoring.

U.S. Intraoperative Neuromonitoring (IONM) Market by Type, 2014 - 2025 (USD Million)

U.S. Intraoperative Neuromonitoring (IONM) Market

According to WHO, 80% disorders in the disabling conditions are neurological. Intraoperative monitoring is becoming a crucial factor in neurosurgery as it offers an early warning concerning motor & sensory functions during surgery thus yielding better results and avoiding post-operative neurophysiological deficits. Safer surgery translates to reduced intervention time and risk. These benefits have made it mandatory in neurosurgeries.

Favorable reimbursement scenario is also expected to augment the demand in the near future. The billing code underwent some changes recently wherein 15,000 codes were increased to 72,000 codes, offering more granularity. This is expected to ease the reimbursement procedures for IONM resulting in increased use.

The industry is witnessing dynamic merger and acquisition activities. For instance, in October 2016, SpecialityCare acquired Sentient Medical Systems. This transaction was expected to strengthen the company’s product portfolio. It had also acquired Surgical Monitoring Associates, Inc. in 2011. The terms of this transaction were undisclosed. This strategic step was undertaken to expand the company’s business.

Type Insights

Based on the type, the market is segmented into insource and outsource IONM. The insource IONM dominated the market in 2015 due to a rising number of surgeries and compulsory monitoring of vital stats during every procedure. Hospitals have adopted IONM and have trained technologists, who are supervised by neurologists and physiologists during the procedures. There are no defined guidelines for the use of neuromodulation devices but growing demand and usage of the same is anticipated to trigger this procedure.

Outsource IONM is also gaining popularity and is the fastest growing segment. The IONM devices are in a continuous improvement phase. This results in constant modification of these devices. Outsourcing eliminates the need for hospitals to incur capital expenditure for the purchase of these equipment and bear its maintenance cost. All these factors contribute to the shift in preference to outsource IONM.

Most of the industry players focus on expanding their distribution channel to serve the maximum number of hospitals and healthcare facilities. Inomed Medizintechnik GmbH has distribution capabilities across more than 80 countries serving more than 4,000 clinics. Furthermore, NeuroMonitoring Technologies, Inc. serves over 200 surgeons in 54 hospitals, which accounts for 6000 procedures annually. Similarly, Sentient Medical Systems serves more than 800 surgeons in 300 hospitals and SpecialtyCare boasts of serving for more than 375,000 procedures annually with the help of almost 500 IONM experts.

Regional Insights

North America dominated by market in 2015, followed by Europe. A favorable and constantly improving reimbursement scenario in the region is mainly responsible for the dominance. The clearly defined codes for each procedure helps in making the procedure easy for the patients and insurance companies. In addition, well-defined guidelines help in implementing neuromonitoring during procedures resulting in better outcomes, thereby benefitting the patients & hospitals.

Many neurological centers in the U.S. strongly recommend the use of IONM and try to fulfill the manpower gap to meet the demand. Hospitals encourage physicians and doctorate-level IONM providers to get certified from organizations such as the American Board of Nuclear Medicine. The healthcare system is also making effort to encourage underemployed neuroscience PhDs to pursue a career in IONM and become full-time professionals.

Asia Pacific is anticipated to observe the fastest growth over the coming years. This can be attributed to the increasing awareness about patient safety during surgery and increasing medical tourism in this region.

Intraoperative Neuromonitoring (IONM) Market Share, by Geography, 2015

Intraoperative Neuromonitoring (IONM) Market

Competitive Insights

Some key industry contributors are Natus Medical Incorporated, Accurate Monitoring, NeuroMonitoring Technologies, Biotronic NeuroNetwork, LLC, Medtronic, NuVasive Inc, SpecialtyCare and Sentient Medical Systems.

Inomed Medizintechnik GmbH was founded in 2012 and operates internationally, serving almost 80 countries. The company invested heavily in research and development activities, which accounted for almost USD 1.58 billion. It usually collaborates with various universities and research institutes for these activities and had 7 partnerships so far. Similarly, SpecialtyCare, founded in 2006 serves over 1,300 hospitals and 13,500 physicians.

Report Scope

Attribute

Details

Base year for estimation

2015

Actual estimates/Historical data

2014 - 2015

Forecast period

2016 - 2025

Market representation

Revenue in USD Million & CAGR from 2016 to 2025

Regional scope

North America, Europe, Asia Pacific, Latin America,& MEA

Country scope

U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, &South Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Intraoperative Neuromonitoring market on the basis of type and region:

  • Type Outlook (Revenue, USD Million; 2014 - 2025)

    • Insource IONM

    • Outsource IONM

  • Regional Outlook (Revenue, USD Million; 2014 - 2025)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • UK

    • Asia Pacific

      • Japan

      • China

    • Latin America

      • Brazil

      • Mexico

    • MEA

      • South Africa

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