The intraoperative neuromonitoring market share in US is expected to increase by USD 1.15 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.13%.

This market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the market segmentation by type (insourced IONM and outsourced IONM) and application (orthopaedic and neuro surgeries, cardiovascular surgeries, ENT surgeries, and other surgeries). The market report also offers information on several market vendors, including Accurate Neuromonitoring LLC, Cadwell Industries Inc., Computational Diagnostics Inc., IntraNerve Neuroscience Holdings LC, Medtronic Plc, Natus Medical Inc., NeuroMonitoring Technologies Inc., Nihon Kohden Corp., NuVasive Inc., and SpecialtyCare Inc. among others.

What will the Intraoperative Neuromonitoring Market Size in the US be During the Forecast Period?

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Intraoperative Neuromonitoring Market in US: Key Drivers, Trends, and Challenges

The increasing number of surgeries that require IONM is notably driving the market growth, although factors such as the high cost of IONM devices and procedures may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the intraoperative neuromonitoring industry in the US. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Market Driver

One of the key factors driving growth in the market is the increasing number of surgeries that require IONM. Spinal and musculoskeletal disorders are the most common disabling conditions for a large proportion of the population in the US. IONM allows the early identification of electrophysiologic changes during spine surgery, which helps surgeons perform surgical interventions such as the extension of incisions, the placement of implants, limb positioning, and retraction techniques that are essential to prevent permanent injuries or damage to the nerves. The rising prevalence of cardiovascular diseases (CVD) such as angina, myocardial infarction (MI), stroke, heart failure, venous thromboembolism (VTE), and heart arrhythmia is increasing the number of cardiovascular surgeries. It is estimated that postoperative neurologic complications such as cerebral infarction and encephalopathy occur in 15,000 out of every 100,000 cardiopulmonary bypass graft (CABG) surgical cases in the US. All these factors will drive the growth of the IONM market in the US in the coming years. 

Key Market Trend

The increasing number of acquisitions is a market trend that is expected to have a positive impact in the coming years. Strategic acquisitions are becoming common in the IONM market in the US. In April 2019, SpecialtyCare announced that it had acquired an Atlanta-based IONM provider called Neuropath. The acquisition helped SpecialtyCare increase the number of associates available to support cases in its existing markets across the US and gain new coverage in the southeastern region. In August 2018, SpecialtyCare announced that it had acquired an IONM provider called Precedent Health. The acquisition helped SpecialtyCare to gain new coverage in markets such as Buffalo, New York; New York City, New York; Detroit, Michigan; and Portland, Oregon. The trend of acquisitions helps vendors expand their geographic coverage and strengthen their market presence in existing markets. This trend is expected to drive the growth of the IONM market in the US market during the forecast period.

Key Market Challenge

The high cost of IONM devices and procedures will be a major challenge for the market in the US. Depending on the number of channels, EEG devices that have 1-32 channels cost around USD 1,000 to USD 25,000, and EEG devices with more than 64 channels can cost more than USD 25,000. Portable amplifiers that record EMG for longer than four hours generally cost more than USD 20,000. Due to budget constraints, many end-users prefer refurbished IONM devices, as they provide significant cost savings compared with new devices. Several companies such as Alternative Source Medical offer refurbished IONM devices, which hampers the sales of new devices from the established vendors that make significant investments in R and D to develop advanced IONM devices. These factors are expected to hamper the market growth in the US in the coming years. 

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the intraoperative neuromonitoring market in the US as a part of the global healthcare equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the market during the forecast period.

Who are the Major Intraoperative Neuromonitoring Market Vendors in the US?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

• Accurate Neuromonitoring LLC
• Cadwell Industries Inc.
• Computational Diagnostics Inc.
• IntraNerve Neuroscience Holdings LC
• Medtronic Plc
• Natus Medical Inc.
• NeuroMonitoring Technologies Inc.
• Nihon Kohden Corp.
• NuVasive Inc.
• SpecialtyCare Inc.

This statistical study of the market encompasses successful business strategies deployed by the key vendors. The market is fragmented and the vendors are deploying growth strategies such as investing in R&D and developing better neurological monitoring devices and focusing on M&As to compete in the market.

Product Insights and News

• Accurate Neuromonitoring LLC - The company offers intraoperative neuromonitoring that protects patients by continuously monitoring the central nervous system such as the brain, spinal cord, and nerves during surgery.
• Accurate Neuromonitoring LLC - Under the unified segment, the company offers intraoperative neuromonitoring that protects patients by continuously monitoring the central nervous system.

To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Intraoperative Neuromonitoring Market in US Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

What are the Revenue-generating Type Segments in the Intraoperative Neuromonitoring Market in the US?

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The market share growth by the insourced IONM segment will be significant during the forecast period. The insourced IONM market in the US is expected to grow steadily during the forecast period. This is mainly attributed to the increasing awareness of the benefits of insourced IONM, the rising number of big hospitals, and the surging surgical volumes in large hospitals. One of the primary benefits of insourced IONM is that IONM clinicians know their technologists well and have a close working relationship with other clinical personnel, including surgeons and anesthesiologists.

This report provides an accurate prediction of the contribution of all the segments to the growth of the market size and actionable market insights on the post-COVID-19 impact on each segment.

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What are the Key Data Covered in this Intraoperative Neuromonitoring Market in US Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behaviour
• The growth of the intraoperative neuromonitoring industry in the US 
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of market vendors in US 

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