LONDON--(BUSINESS WIRE)--The intraoperative neuromonitoring market in the US is expected to post a CAGR of over 10% during the period 2019-2023, according to the latest market research report by Technavio.
A key factor driving the growth of the market is the increasing number of surgeries that require IONM. IONM is widely used in high risk surgeries such as spinal, musculoskeletal, and cardiovascular surgeries, which are commonly associated with neurological complications. IONM allows the early identification of electrophysiological changes, which helps surgeons perform surgical interventions that are essential to prevent permanent injuries or damage to the nerves. Furthermore, continuous advances in technology and the growth of the geriatric population in the US are some other factors that are increasing the number of spinal, musculoskeletal, and cardiovascular surgeries, which in turn is expected to drive market growth during the forecast period.
As per Technavio, the rising adoption of remote IONM will have a positive impact on the market and contribute to its growth significantly over the forecast period. This intraoperative neuromonitoring market in the US 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Intraoperative Neuromonitoring Market in the US: Rising Adoption of Remote IONM
The emergence of remote IONM is likely to have a positive impact on the market due to the rising need for continuous neuromonitoring during complicated surgeries. The popularity of remote IONM services is growing significantly as they increase IONM access to surgeons and patients. Remote IONM is an advanced technique that facilitates the access of patients to hospitals as surgeons can remotely monitor the post-operative health of patients. It is a clinically effective, efficient, cost-effective, and time-saving technique that provides IONM access to patients living in areas that do not have surgical centers or hospitals. Moreover, the shortage of certified neurophysiologists will increase the adoption of remote monitoring in the US. Thus, the rising adoption of remote IONM is expected to drive the growth of the market during the forecast period.
“Apart from the rising adoption of remote IONM, the rising adoption of IONM due to increasing awareness, technological advances in IONM, and the emergence of portable IONM are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Intraoperative Neuromonitoring Market in the US: Segmentation Analysis
This market research report segments the intraoperative neuromonitoring market in the US by application (orthopedic surgeries and neurosurgeries; cardiovascular surgeries, ENT surgeries, and other surgeries), by source (outsourced IONM and insourced IONM), by methodology (EP monitoring, EEG, and EMG, and by end-user (hospitals, ASCs and other end-users).
The orthopedic surgeries and neurosurgeries led the market in 2018, followed by cardiovascular surgeries, ENT surgeries, and other surgeries respectively. During the forecast period, the orthopedic surgeries and neurosurgeries segment is expected to maintain its dominance over the global market and register the highest incremental growth.
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