Intraoperative Neurophysiological Monitoring Market Size

Global Intraoperative Neurophysiological Monitoring Market Overview

Intraoperative Neurophysiological Monitoring Market Size was valued at USD 1.8 billion in 2022 and is projected to grow from USD 1.96 Billion in 2023 to USD 3.86 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.9% during the forecast period (2023 - 2032). The rising need for neuromonitoring from surgeons and hospitals has grown over time as a result of advancements are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

On March 8, 2023, Compumedics Limited said that its Okti high-density EEG amplifier range had obtained a 510(k) clearance from the United States Food and Drug Administration (FDA). Furthermore, this news will help the recently expanded sales team in the US to sell more Okti in the United States' $400 million EEG market.

The Micromed Holding SAS purchase was completed by Natus Medical Incorporated in January 2023. The intention is to expand the company’s medical portfolio and increase its involvement in neurophysiology diagnostics and treatments.

ARCHIMED completed its take-private transaction with Natus Medical Incorporated on July 21, two thousand and twenty-two for one point one billion dollars. Also, this firm is regarded as a global leader in the production and distribution of medical instruments used for the screening of conditions affecting brain function or central/peripheral nervous systems or sensory systems. Natus happens to be ARCHIMED's first client on MED Platform II.

Medtronic got FDA 510(k) approval for the NIM Vital nerve monitoring system, which may be used by surgeons for the identification of nerves at risk during head & neck surgeries. This involves performing real-time monitoring of nerve status during surgery at any stage on any patient, thereby providing immediate feedback to surgeons through audible alarms/visual alerts whilst they operate.

SpecialtyCare purchased Precedent Health in August 2018, which offers IONM services, thereby enabling them to offer a wide variety of patient-focused outsourced IONM services to surgery centers, physicians, hospitals, and health systems.

By March 2021, Neurosign had gained acceptance from the United States FDA to use a V4 nerve monitoring system either in four or eight channels on patients undergoing nerve identification or preservation throughout the USA.

Approximately last February, Twist Bioscience Corp., an Intraoperative Neuromonitoring cancer analysis and epigenetic research company, introduced the Twist NGS Methylation Detection System.

For example, Natus Medical Incorporated, a provider of medical device solutions for sensory system and central nervous system disorders, announced in January 2023 the acquisition of Micromed Holding SAS, a global provider of neurophysiology solutions. The acquisition is regarded as strategic due to its ability and it is expected that this deal would only improve Natus Medical Incorporated’s product portfolio, further expanding its offerings in the field of neurophysiology diagnostics and treatments.

This company declared (announced) the opening of the Singapore Experience Center for the Asia-Pacific region in June 2022 to support the Company’s (corporate growth strategy) globalization strategy. This was marked with the opening of the Singapore Experience Center in June 2022 as part of NuVasive's efforts to extend its operations there. This facility served as NuVasive’s technology showcase center, provided training and education for healthcare professionals and also promoted partnerships with local firms.

It can be expected that this center had modern equipment, interactive exhibitions and educational resources designed for many purposes like demonstrating advantages offered by spinal solutions from NuVasive Corporation to health practitioners and promoting transfer of knowledge.

In April 2022, Epic Sciences Inc. added DefineMBC to its CLIA laboratory menu, an innovative blood-based test that provides comprehensive characterization outcomes regarding metastatic breast cancer.

Assure Holdings Corporation made an acquisition by taking over Sentry Neuromonitoring LLC in 2022, which is one of many key providers of intraoperative neuromonitoring services. Assure Holdings has taken a strategic step towards reinforcing its position alongside improving economies of scale with this move.

By March 2021, Neurosign received approval from the United States FDA for using a V4 nerve monitoring system in both four and eight channels on patients undergoing nerve identification or preservation throughout the USA.

Twist Bioscience Corp presented Twist NGS Methylation Detection System targeting Intraoperative Neuromonitoring cancer analysis and epigenetic research back in February 2021.

Intraoperative Neurophysiological Monitoring Market Trends

• Growing Prevalence of spine degeneration to boost the market growth

It has been a key part of manufacturers' product differentiation strategies to monitor the nervous system's health during spinal surgery. The need for neuromonitoring from surgeons and hospitals has grown over time due to advancements in IONM technology and techniques. This results from the manufacturer's proprietary software and ease of use. The ability of surgeons to make critical decisions in real-time thanks to intraoperative neuromonitoring devices makes operations safer, quicker, and more repeatable, which improves patient outcomes and is expected to drive growth.

Additionally, developing cutting-edge tools like surgical robots, microscopes, ophthalmic surgical tools, and neurosurgery tools has reduced direct human interference in surgical procedures, which is also anticipated to support market growth in the near future. For example, the U.S. Food and Drug Administration granted 510(k) clearance to Medtronic plc in October 2020. S. To help lower the risk of nerve damage during head and neck surgeries, the FDA has approved the NIM Vital nerve monitoring system, which enables doctors to detect, monitor, and confirm nerve function. The NIM Vital system uses patented technology to deliver precise intraoperative nerve status data that affect surgical strategy and increase operative effectiveness. In the near future, growth is anticipated to be fueled by these factors.

Additionally, developing cutting-edge tools like surgical robots, microscopes, ophthalmic surgical tools, and neurosurgery tools has reduced direct human interference in surgical procedures, which is also anticipated to support market growth in the near future. For instance, the U.S. FDA granted 510(k) clearance to Medtronic Plc in October 2020 in the U.S. To help lower the risk of nerve damage during head and neck surgeries, the FDA approved the NIM Vital nerve monitoring system, which enables doctors to detect, monitor, and confirm nerve function. The NIM Vital system uses patented technology to deliver accurate intraoperative nerve status information that affects surgical strategy and increases operative efficiency. In the near future, growth is anticipated to be fueled by these factors, which has enhanced the Intraoperative Neurophysiological Monitoring market CAGR globally in recent years.

Intraoperative Neurophysiological Monitoring Market Segment Insights

Intraoperative Neurophysiological Monitoring Surgical Procedure Insights

Based on Surgical Procedure, the Intraoperative Neurophysiological Monitoring Market segmentation includes Orthopedic, Urology, Spinal, Neurovascular, and Otolaryngology Surgery. The Spinal segment held the majority share in 2022 contribution concerning the Intraoperative Neurophysiological Monitoring Market revenue. It can also evaluate the spinal cord and nerve roots after surgery to ensure proper cervical spine positioning. Its use in cervical spine surgery is wider than monitoring sensory tracts during the procedure. But SSEP changes during surgery are not always linked to postoperative neurological deficits because of its allegedly low specificity34, according to 33–35 studies. As a result, many researchers advise against using it as the sole monitoring modality in difficult cervical procedures.

Intraoperative Neurophysiological Monitoring Type Insights

The Intraoperative Neurophysiological Monitoring Market segmentation, based on type, includes Electroencephalography, Evoked Potentials, and Electromyography. The Electromyography segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. The motor neurons that control muscles and the muscles are evaluated using a diagnostic procedure called electromyography (EMG). According to EMG results, there may be issues with nerve-to-muscle signal transmission, muscle dysfunction, or both positively impact the market growth.

Intraoperative Neurophysiological Monitoring Methods Insights

The Intraoperative Neurophysiological Monitoring Market data has been bifurcated by surgery into Outsourced, In-House, and Tele-Health. The Outsourced segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2022-2030. Hospitals and healthcare facilities outsource their IONM needs due to cost-effectiveness and the availability of specialized service providers. IONM technology is constantly evolving and changing. Hospitals are relieved of the cost of purchasing and maintaining this equipment thanks to outsourcing. Additionally, training neurophysiologists is costly and time-consuming.

Figure 1: Intraoperative Neurophysiological Monitoring Market, by Methods, 2022 & 2030 (USD Billion)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Intraoperative Neurophysiological Monitoring Regional Insights

By Region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The North America Intraoperative Neurophysiological Monitoring market accounted for USD 0.8244 billion in 2022 and is expected to exhibit a significant CAGR growth during the study period. According to the U.S. National Institute of Health, this dominance is largely due to the favorable reimbursement environment and rising neurological disorder cases. Around 795,000 people have a stroke annually, which results in 137,000 fatalities. Additionally, the Migraine Research Foundation estimates that in 2020, about 35 million U.S. people will experience migraine headaches. Additionally, it is anticipated that 18% of men and 43% of women will suffer from migraines nationwide.

Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: INTRAOPERATIVE NEUROPHYSIOLOGICAL MONITORING MARKET SHARE BY REGION 2022 (%)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe’s Intraoperative Neurophysiological Monitoring market accounts for the second-largest market share. Approximately 35 million people in the United States experience migraine headaches, according to statistics from the Migraine Research Foundation that were updated in 2021. Additionally, it is anticipated that 18% of men and 43% of women will suffer from migraines nationwide. Therefore, it is likely that the rise in neurological disorders like TBI, migraine, and stroke will propel market expansion in this nation. Further, the Germany Intraoperative Neurophysiological Monitoring market held the largest market share, and the UK Intraoperative Neurophysiological Monitoring market was the fastest-growing market in the European region.

The Asia-Pacific Intraoperative Neurophysiological Monitoring Market is expected to grow at the fastest CAGR from 2022 to 2030. Over the forecast period, emerging economies like China, Japan, South Korea, and India will experience significant growth. In China and Japan, numerous local players may foster market expansion. Additionally, it is anticipated that the local market will be driven in the upcoming years by the growing geriatric population and the incidence of traumatic brain injuries. For example, the national 2020 census estimates that about 264 million (18.7%) Chinese are 60 or older. Moreover, China’s Intraoperative Neurophysiological Monitoring market held the largest market share, and India’s Intraoperative Neurophysiological Monitoring market was the fastest-growing market in the Asia-Pacific region.

Intraoperative Neurophysiological Monitoring Key Market Players & Competitive Insights

Major market players are spending much money on R&D to increase their product lines, which will help the Intraoperative Neurophysiological Monitoring market grow even more. Market participants are also taking various strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Intraoperative Neurophysiological Monitoring industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.

One of the primary business strategies manufacturers adopt in the Global Intraoperative Neurophysiological Monitoring industry to benefit clients and expand the market sector is manufacturing locally to reduce operating costs. In recent years, the Intraoperative Neurophysiological Monitoring industry has provided medicine with some of the most significant benefits. In the Intraoperative Neurophysiological Monitoring market, major players such as Cadwell Laboratories (US), IntraNerve (US), NeuroMonitoring Technologies (US), ProPep Surgical (US),  Sentient Medical Systems (US), Accurate Monitoring LLC (US), Natus Medical Incorporated (US), NuVasive (US), Medsurant Holdings (US), Inomed Medizintechnik GmbH (Germany) and others are working on expanding the market demand by investing in research and development activities.

Cadwell Laboratories (US): During his residency at the University of Washington School of Medicine, John Cadwell, MD, BSEE, created the first microprocessor EMG in his Seattle home's basement. He co-founds Cadwell Laboratories with his brother, Carl Cadwell, DDS. The Cadwell 7000 EMG is their initial offering. Putting Cadwell on the map is the 5200A. This machine, which is compact, strong, reliable, and simple to use, has become the most popular EMG device ever produced. The business has outgrown its previous location and relocated to 909 N. Street Kellogg in 1986. The next generation of ApneaTrak HSAT is introduced with completely disposable patient kits to assist sleep laboratories in providing secure home testing options. Serving new markets and enhancing its offerings, Cadwell keeps growing. The business stays true to its purpose: assisting you in aiding others.

Also, IntraNerve (US) is a planned rollout that identifies development-related issues that have been extremely beneficial. I saw [INN] gently guiding individuals in my organization toward contracting and credentialing. The services provided by [INN] will enhance patient care, and we directly benefit from them. We are a full-service tertiary care facility, so if we didn't have the option of working with [INN], we could create our expertise.

Key Companies in the Intraoperative Neurophysiological Monitoring market include

• Cadwell Laboratories (US)


• IntraNerve (US)


• NeuroMonitoring Technologies (US)


• ProPep Surgical (US)


• Sentient Medical Systems (US)


• Accurate Monitoring LLC (US)


• Natus Medical Incorporated (US)


• NuVasive (US)


• Medsurant Holdings (US)


• Inomed Medizintechnik GmbH (Germany)

Intraoperative Neurophysiological Monitoring Industry Developments

June 2022 INVASIVE INC. announced the official opening of its Singapore Experience Center for the Asia-Pacific region, supporting its growth strategy to expand its business internationally.

March 2021 The V4 4-channel and 8-channel nerve monitoring systems from Neurosign have received approval from the US Food and Drug Administration, and they are currently being used on patients in the US for nerve identification and preservation.

Intraoperative Neurophysiological Monitoring Market Segmentation

Intraoperative Neurophysiological Monitoring Surgical Procedure Outlook

• Orthopedic


• Urology


• Spinal


• Neurovascular


• Otolaryngology Surgery

Intraoperative Neurophysiological Monitoring Type Outlook

• Electroencephalography


• Evoked Potentials


• Electromyography

Intraoperative Neurophysiological Monitoring Methods Outlook

• Outsourced


• In-House


• Tele-Health

Intraoperative Neurophysiological Monitoring Regional Outlook

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  North America

  
  
  
  
  • US
  
  
  • Canada
  
  
  
  


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  Europe

  
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


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  Asia-Pacific

  
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


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  Rest of the World

  
  
  
  
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    Middle East

    
    
  
  
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    Africa

    
    
  
  
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    Latin America