Intraoperative Neuromonitoring Market Size, Share & Trends Analysis Report By Product (Insourced, Outsourced), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa), And Segment Forecasts, 2022 - 2030

Report Overview

The global intraoperative neuromonitoring market size was valued at USD 3.02 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2022 to 2030. The growth of the market can be attributed due to the increasing emphasis on patient safety during difficult surgical procedures and the growing prevalence of chronic disorders, such as stroke, epilepsy, Alzheimer’s disease, and Parkinson’s disease. According to the WHO, hundreds and millions of people worldwide are affected by neurological disorders. Annually, 15 million people worldwide suffer a cerebral stroke. This has contributed to the growth of the market.

The COVID-19 pandemic is expected to have a dual impact on the intraoperative neuromonitoring (IONM) market. To allocate & direct medical supplies and capacity to COVID-19 response, hospitals in the U.S. and around the world have postponed and delayed elective surgeries to varying degrees. Manufacturers have found it difficult to serve their surgeon customers since some hospitals have restricted access to their facilities or changed access regulations. As a result, they saw a decrease in procedural volume in 2020, which is expected to impede growth.

However, according to the Frontiers Media S.A. in November 2020, in critically ill patients with COVID-19 who are receiving invasive mechanical ventilation, neurological problems are prevalent and are linked to longer ICU stays. During the pandemic, multimodal noninvasive neuromonitoring devices were useful tools for the early detection of abnormalities in cerebrovascular parameters. In addition, stricter patient education, recovery room evaluation for non-ICU hospitalization, earlier mobilization, post-discharge communication, increasing adoption of less invasive operations, and early post imaging are all recommended. These factors are expected to lead to significant market growth opportunities.

Despite the pandemic, an increase in the prevalence of neurovascular disorders is expected to boost the demand for minimally invasive/noninvasive and advanced intraoperative neuromonitoring devices, thus driving the market growth. In addition, most countries around the world have started to ease lockdown restrictions and recommenced certain elective surgeries. Hence, the market is projected to recover and grow over the forecast period. Companies have been using strategies such as rerouting logistics, sourcing from additional partners, and air freight delivery to deal with supply chain disruptions. In addition, major firms are planning to geographically expand their businesses and establish more warehouses in various areas to conduct their operations through multiple available channels in worst-affected regions, to fulfill the growing demand. These factors are expected to create lucrative growth prospects.

Along with the above factors, the need for intraoperative neuromonitoring in various healthcare settings is likely to increase with the growing aging population, a demographic that is more susceptible to chronic illnesses. In addition, according to CDC, adults aged 65 years and above are more likely to suffer from heart disease, COPD, diabetes, cancer, neurological problems, and other chronic illnesses. According to a Nature Reviews Neurology article in September 2019, Alzheimer’s disease affects one out of every 10 people over the age of 65, and its prevalence rises with age. Patients suffering from such illnesses require both emergency and nonemergency hospital treatments, which is projected to drive market growth in the near future.

Monitoring the nervous system's health during spinal surgery has been a major component of manufacturers' product differentiation strategy. With the evolution of IONM technology and techniques, the demand for neuromonitoring from surgeons and hospitals has increased over time. This is because of the manufacturer's proprietary software and simple to operate. Intraoperative neuromonitoring devices enable surgeons to make key decisions in real-time, making surgeries safer, faster, and more repeatable, resulting in better patient outcomes, which is expected to impel growth.

Moreover, the development of advanced devices, such as neurosurgery devices, surgical microscopes, ophthalmic surgical devices, and surgical robots, has led to a reduction in direct human interference in surgical procedures, which is also expected to support the market growth in the near future. For instance, in October 2020, Medtronic plc received 510(k) clearance from the U.S. FDA for the NIM Vital nerve monitoring system, which allows physicians to detect, monitor, and confirm nerve function, to assist in reducing the risk of nerve damage during head & neck surgeries. The NIM Vital system employs patented technology to deliver precise intraoperative nerve status data that influence surgical strategy, improve operative efficiency & precision, and help patients maintain their quality of life. These factors are expected to impel growth in the near future.

Increasing government initiatives and growing awareness about products and services are further expected to boost growth. For instance, Accurate Neuromonitoring provided IONM in Africa during the 2019 Weill Cornell Tanzania Neurosurgery Mission. The mission trip raised awareness about the need for IONM in difficult brain & spine procedures and demonstrated the need for it, which is anticipated to boost the growth of the intraoperative neuromonitoring market.

The U.S. dominated the market with the highest share of 97.16% in 2021. The increasing prevalence of chronic diseases and the growing geriatric population are the factors driving growth in the U.S. According to CDC in 2021, at least one chronic condition, such as stroke, heart disease, cancer, or diabetes, affects six out of 10 Americans. Chronic diseases such as these are the main causes of death and disability in the U.S, as well as major drivers of healthcare expenses. In addition, the market is impelled by continued medical infrastructure construction as well as growing government and private sector investments to promote the usage of safer & more cost-effective healthcare solutions. 

Type Insights

The insourced type led the market and accounted for more than 55.19% share of the global revenue in 2021. This can be attributed to an increase in the frequency of procedures and the requirement that vital statistics be monitored during each procedure. Hospitals are adopting IONM and training technologists who oversee procedures by neurologists & physiologists. There are no established criteria for the use of neuromodulation devices, but the practice is expected to become more common as demand and usage increase.

The outsourced segment is expected to witness the fastest growth over the forecast period at a CAGR of over 6.0% in 2021. Because of features like cost-effectiveness and availability of dedicated service providers, hospitals and healthcare centers choose to outsource their IONM needs. IONM devices are being constantly advanced and modified. Outsourcing relieves hospitals of the financial burden of purchasing and maintaining this equipment. Moreover, it is expensive and time-consuming to train neurophysiologists.

In addition, they constantly have to keep abreast with the new technologies. All these factors contribute to the shift in preference for the outsourcing of IONM. Moreover, industry players are acquiring smaller companies to expand their product offerings. This is anticipated to propel segment growth. For instance, in August 2018, Precedent Health, an IONM provider, was acquired by SpecialtyCare. SpecialtyCare is the most comprehensive provider of patient-centered outsourced IONM services to surgery centers, surgeons, hospitals, and health systems.

Regional Insights

North America dominated the market and accounted for over 49.30% share of the global revenue in 2021. The favorable reimbursement scenario and increasing cases of neurological disorders are key contributors to this dominance. As per the National Institute of Health, in the U.S., every year, around 795,000 people have a stroke, causing 137,000 deaths. In addition, as per the Migraine Research Foundation, in 2020, around, 35 million U.S. individuals suffer from migraine headaches. Moreover, nearly 43% of women and 18% of men are expected to experience migraines in the country. Thus, increasing cases of neurological disorders, such as TBI, migraine, and stroke, are likely to drive market growth in this country.

IONM is not covered under national insurance but under local. Many neurological facilities in the U.S encourage the use of IONM and are working to close the staffing shortage and fulfill the unmet demand. There is a shortage of physicians in medicine, but this shortage is significantly higher in neurology. The introduction of IONM puts pressure on the neurologists and reduces the number of cases they handle. There are approximately 700,000 IONM cases annually in the U.S. This can be turned into an opportunity by outsourced IONM providers, technologists, and neurologists trained in IONM interpretation.

Asia Pacific is likely to grow at a 5.46% rate. Emerging economies, such as China, Japan, South Korea, and India, are expected to witness considerable growth over the forecast period. The presence of several local players in China and Japan may boost the market growth. Moreover, the growing geriatric population, along with the increasing incidence of traumatic brain injuries, is expected to drive the local market over the coming years. For instance, according to the national 2020 census estimates, there are about 264 million (18.7%) people in China aged 60 & above. The elderly population in the country is expected to further increase to 300 million by 2025 and cross 400 million by 2033.

Key Companies & Market Share Insights

Companies that sell intraoperative neuromonitoring devices are stepping up their efforts to get their products approved so that manufacturers can start mass production. In addition, the market players are adopting various strategies such as mergers & acquisitions, partnerships, product launches, and innovations to strengthen their foothold in the market.

For instance, in December 2017, Safe Passage Health and NuVasive, a privately held supplier of IONM services, announced the signing of a formal agreement in which NuVasive would acquire Safe Passage. NuVasive Clinical Services (NCS) would maintain its position as the provider of outsourced IONM services in the U.S. by acquiring Safe Passage, with over 3,000 surgeons & supervision physicians to serve over 1,000 clients and 550 neurophysiologists. Companies in the market are scaling up their R&D capabilities to deploy safe and simple medical practices, which is expected to further aid market growth in the near future.

Some prominent players in the global intraoperative neuromonitoring market are:

• Natus Medical Incorporated

• Accurate Monitoring

• NeuroMonitoring Technologies

• Biotronic NeuroNetwork, LLC

• Medtronic

• NuVasive Inc.

• SpecialtyCare

• Sentient Medical Systems

Intraoperative Neuromonitoring Market Report Scope

Segments Covered in the Report 

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global intraoperative neuromonitoring market report based on type and region:

• Type Outlook (Revenue USD Million; 2017 - 2030)

  • Insourced

  • Outsourced

• Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

    • Colombia

  • Middle East and Africa

    • South Africa

    • Saudi Arabia

    • UAE