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Intraoperative Neuromonitoring Market in US by Application and Type - Forecast and Analysis 2022-2026

  • Published: Mar 2022
  • Pages: 113
  • SKU: IRTNTR40597
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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?

Intraoperative Neuromonitoring Market Size

Download the Free Report Sample to Unlock the Market Size for the Forecast Period and Other Important Statistics

 

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?

Intraoperative Neuromonitoring Market Market segmentation by region

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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.

 

Intraoperative Neuromonitoring Market Scope in US

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 10.13%

Market growth 2022-2026

$ 1.15 billion

Market structure

Fragmented

YoY growth (%)

9.23%

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

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.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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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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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Healthcare Equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021 - 2026
      • Exhibit 06: US - Market size and forecast 2021 - 2026 ($ million)
      • Exhibit 07: US market: Year-over-year growth 2021 - 2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2021 & 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2021

    5 Market Segmentation by Application

    • 5.1 Market segments
      • Exhibit 15: Application - Market share 2021-2026 (%)
    • 5.2 Comparison by Application
      • Exhibit 16: Comparison by Application
    • 5.3 Orthopedic and neurosurgeries - Market size and forecast 2021-2026
      • Exhibit 17: Orthopedic and neurosurgeries - Market size and forecast 2021-2026 ($ million)
      • Exhibit 18: Orthopedic and neurosurgeries - Year-over-year growth 2021-2026 (%)
    • 5.4 Cardiovascular surgeries - Market size and forecast 2021-2026
      • Exhibit 19: Cardiovascular surgeries - Market size and forecast 2021-2026 ($ million)
      • Exhibit 20: Cardiovascular surgeries - Year-over-year growth 2021-2026 (%)
    • 5.5 ENT surgeries - Market size and forecast 2021-2026
      • Exhibit 21: ENT surgeries - Market size and forecast 2021-2026 ($ million)
      • Exhibit 22: ENT surgeries - Year-over-year growth 2021-2026 (%)
    • 5.6 Other surgeries - Market size and forecast 2021-2026
      • Exhibit 23: Other surgeries - Market size and forecast 2021-2026 ($ million)
      • Exhibit 24: Other surgeries - Year-over-year growth 2021-2026 (%)
    • 5.7 Market opportunity by Application
      • Exhibit 25: Market opportunity by Application

    6 Market Segmentation by Type

    • 6.1 Market segments
      • Exhibit 26: Type - Market share 2021-2026 (%)
    • 6.2 Comparison by Type
      • Exhibit 27: Comparison by Type
    • 6.3 Insourced IONM - Market size and forecast 2021-2026
      • Exhibit 28: Insourced IONM - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Insourced IONM - Year-over-year growth 2021-2026 (%)
    • 6.4 Outsourced IONM - Market size and forecast 2021-2026
      • Exhibit 30: Outsourced IONM - Market size and forecast 2021-2026 ($ million)
      • Exhibit 31: Outsourced IONM - Year-over-year growth 2021-2026 (%)
    • 6.5 Market opportunity by Type
      • Exhibit 32: Market opportunity by Type

    7 Customer landscape

    • 7.1 Customer landscape
      • Exhibit 33: Customer landscape

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 34: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 35: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 36: Landscape disruption
          • Exhibit 37: Industry risks
        • 9.3 Competitive scenario

          10 Vendor Analysis

          • 10.1 Vendors covered
            • Exhibit 38: Vendors covered
          • 10.2 Market positioning of vendors
            • Exhibit 39: Market positioning of vendors
          • 10.3 Accurate Neuromonitoring LLC
            • Exhibit 40: Accurate Neuromonitoring LLC - Overview
            • Exhibit 41: Accurate Neuromonitoring LLC - Product and service
            • Exhibit 42: Accurate Neuromonitoring LLC - Key offerings
          • 10.4 Cadwell Industries Inc.
            • Exhibit 43: Cadwell Industries Inc. - Overview
            • Exhibit 44: Cadwell Industries Inc. - Product and service
            • Exhibit 45: Cadwell Industries Inc. - Key offerings
          • 10.5 Computational Diagnostics Inc.
            • Exhibit 46: Computational Diagnostics Inc. - Overview
            • Exhibit 47: Computational Diagnostics Inc. - Product and service
            • Exhibit 48: Computational Diagnostics Inc. - Key offerings
          • 10.6 IntraNerve Neuroscience Holdings LLC
            • Exhibit 49: IntraNerve Neuroscience Holdings LLC - Overview
            • Exhibit 50: IntraNerve Neuroscience Holdings LLC - Product and service
            • Exhibit 51: IntraNerve Neuroscience Holdings LLC - Key offerings
          • 10.7 Medtronic Plc
            • Exhibit 52: Medtronic Plc - Overview
            • Exhibit 53: Medtronic Plc - Business segments
            • Exhibit 54: Medtronic Plc - Key offerings
            • Exhibit 55: Medtronic Plc - Segment focus
          • 10.8 Natus Medical Inc.
            • 10.9 NeuroMonitoring Technologies Inc
              • Exhibit 59: NeuroMonitoring Technologies Inc - Overview
              • Exhibit 60: NeuroMonitoring Technologies Inc - Product and service
              • Exhibit 61: NeuroMonitoring Technologies Inc - Key offerings
            • 10.10 Nihon Kohden Corp.
              • Exhibit 62: Nihon Kohden Corp. - Overview
              • Exhibit 63: Nihon Kohden Corp. - Product and service
              • Exhibit 64: Nihon Kohden Corp. - Key offerings
            • 10.11 Nuvasive Inc.
              • Exhibit 65: Nuvasive Inc. - Overview
              • Exhibit 66: Nuvasive Inc. - Business segments
              • Exhibit 67: Nuvasive Inc. - Key offerings
              • Exhibit 68: Nuvasive Inc. - Segment focus
            • 10.12 SpecialtyCare
              • Exhibit 69: SpecialtyCare - Overview
              • Exhibit 70: SpecialtyCare - Product and service
              • Exhibit 71: SpecialtyCare - Key offerings

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Currency conversion rates for US$
                • Exhibit 72: Currency conversion rates for US$
              • 11.3 Research methodology
                • Exhibit 73: Research Methodology
                • Exhibit 74: Validation techniques employed for market sizing
                • Exhibit 75: Information sources
              • 11.4 List of abbreviations
                • Exhibit 76: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Intraoperative Neuromonitoring market growth will increase by $1156.07 million during 2022-2026.
              The intraoperative neuromonitoring market is expected to grow at a CAGR of 10.13% during 2022-2026.
              Technavio has segmented the intraoperative neuromonitoring market by type (Insourced IONM and Outsourced IONM) ,application (Orthopedic and neurosurgeries, Cardiovascular surgeries, ENT surgeries, Other surgeries, and Argentina) , and geographic (US).
              Accurate Neuromonitoring LLC, Cadwell Industries Inc., Computational Diagnostics Inc., IntraNerve Neuroscience Holdings LLC, Medtronic Plc, Natus Medical Inc., NeuroMonitoring Technologies Inc, Nihon Kohden Corp., Nuvasive Inc., SpecialtyCare are a few of the key vendors in the intraoperative neuromonitoring market.
              US will register the highest growth rate of 100% among the other regions. Therefore, the intraoperative neuromonitoring market in US is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the intraoperative neuromonitoring market growth are:
              • Increasing number of surgeries that require IONM
              • Increasing number of acquisitions
              The intraoperative neuromonitoring market vendors should focus on grabbing business opportunities from the insourced ionm segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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