US - Intraoperative Neuromonitoring (IONM) Market by Application and Type - Forecast and Analysis 2023-2027

US Intraoperative Neuromonitoring (IONM) Market Forecast 2023-2027

The US Intraoperative Neuromonitoring Market size is estimated to grow by USD 573.22 million at a CAGR of 5.8% between 2022 and 2027. There has been a significant improvement in monitoring techniques due to the advances in techniques, software, and hardware in the last decade. Additionally, there is an increase in the utility and accuracy of IONM due to the development of new devices and advances in anesthesiology. The IONM equipment setup comprises a high-quality multi-channel analog amplifier and an analog-to-digital converter that interfaces with a computer software signal analysis program. The advancement in electronics and computer technology has resulted in the development of IONM devices with enhancement in capacity, ease of use, quality, reliability, and quality of control over the acquired data. Hence, such factors are expected to positively impact the US intraoperative neuromonitoring market growth. This market research and growth report also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

What will be the size of the US Intraoperative Neuromonitoring Market During the Forecast Period?

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The market is set for growth, driven by advancements in neurosurgery devices and surgical robotics, aimed at improving patient outcomes. With increasing cases of neurological disorders such as stroke, epilepsy, and Alzheimer's disease, the demand for precise neuromonitoring solutions rises, addressing the critical need for early detection and intervention. However, challenges persist due to a lack of awareness and skilled personnel, highlighting the importance of educational initiatives and training programs. Moreover, the integration of artificial intelligence and machine learning in medical imaging enhances diagnostic accuracy and treatment planning, while favorable reimbursement policies support market expansion, particularly in addressing the needs of the aging population and patients with cancer and osteoarthritis.

Market Segmentation

Technavio has segmented the market into Application and Type. In the US, the application of Intraoperative Neuromonitoring (IONM) spans across various medical domains, ensuring patient safety and precise surgical interventions. It plays a pivotal role in addressing neurological disorders like Parkinson's disease, movement disorders, and Alzheimer's disease, providing real-time feedback to surgeons during deep brain stimulation procedures. Additionally, IONM is instrumental in assessing cardiovascular conditions and traumatic brain injuries (TBI), enhancing surgical outcomes and minimizing risks. Moreover, in the realm of geriatric healthcare, IONM aids in managing chronic diseases such as osteoarthritis (OA) and catering to the unique needs of the aging population. Integration with surgical microscopes, ophthalmic surgical devices, and surgical robots further enhances its effectiveness in delivering accurate interventions. By leveraging medical imaging technologies, IONM ensures meticulous monitoring and intervention, contributing significantly to improved patient care across diverse medical specialties.

By Application

Orthopedic and neuro surgeries

The orthopedic and neuro surgeries segment is estimated to witness significant growth during the forecast period. There is an increasing adoption of IONM for different spine surgical procedures including the fusion of the cervical, thoracic, and lumbar spine; nerve root decompression; and corrective procedures for scoliosis in pediatric and adult patients.

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The orthopedic and neuro surgeries segment was the largest segment and was valued at USD 841.92 million in 2017. In addition, there has been a significant increase in the number of complex spine surgeries comprising aggressive deformity correction, and tumor resection. However, there is a high risk of neurological deterioration associated with such complex surgeries of the spine. Additionally, there is a rise in the adoption of  IONM in such complex procedures to assess, in real-time, the function of the spinal cord and nerve roots. The main advantage of the adoption of IONM in complex spinal procedures is that it can minimize postoperative neurological complications, such as cauda equina, spinal length, and nerve root, and reduce the risk of inadvertent injury. Hence, such factors are expected to fuel the growth of this segment which in turn will drive the US intraoperative neuromonitoring market growth during the forecast period.

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Key Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

Accurate Neuromonitoring LLC: The company offers intraoperative neuromonitoring services such as somatosensory evoked potentials, electromyography, and pedicle screw stimulations.

• Assure Holdings Corp.
• Cadwell Industries Inc.
• Comprehensive Care Services
• Computational Diagnostics Inc.
• EMOTIV
• Inomed Medizintechnik GmbH
• IntraNerve Neuroscience Holdings LLC
• Medsurant Health
• Medtronic Plc
• Natus Medical Inc.
• Neuro Alert
• NeuroMonitoring Technologies
• Neurosoft
• Nihon Kohden Corp.
• Nuvasive Inc.
• Orimtec
• ProPep Surgical
• SpecialtyCare Inc.
• Technomed

Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

Market Dynamics and Customer Landscape

The market addresses a spectrum of neurological and cardiovascular conditions, including Parkinson's disease, stroke, and Alzheimer's. Utilizing brain implants and deep brain stimulation, it aids in managing movement disorders and epilepsy. With advanced neurosurgery devices and surgical robots, precision and efficiency are enhanced. Despite challenges like lack of awareness and skilled personnel, artificial intelligence and machine learning contribute to improved outcomes. Reimbursement policies further support the market growth. Targeting the geriatric population and addressing conditions like cancer and osteoarthritis, IONM serves as a vital component in ensuring safe and effective neurosurgical interventions in the US. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Market Drivers

One of the key factors driving the US intraoperative neuromonitoring market growth is the increasing number of surgeries that require IONM. There is an increasing adoption of IONM in high-risk surgeries including spinal, musculoskeletal, and cardiovascular surgeries, which are commonly related to neurological complications. One of the most common disabling conditions for a large proportion of the population in the US is spinal and musculoskeletal disorders.

Moreover,  bone and joint disorders are the primary causes of severe long-term pain and disabilities. As a result, it causes difficulty in carrying out normal tasks in day-to-day life. The ideal treatment for this condition is spine surgery, especially for some patients with fractures, tumors, and severe neurological defects. Therefore, there is increasing adoption of IONM as it enables the early detection of electrophysiologic changes during spine surgery, which helps surgeons perform surgical interventions including the extension of incisions. Hence, such factors are driving the US intraoperative neuromonitoring market growth.

Significant Market Trends

A key factor shaping the market growth is the rising adoption of remote IONM. As there is an increasing need for continuous neuromonitoring during complicated surgeries, the advent of remote IONM is expected to have a positive impact on the market.  Some of the prominent service providers that provide IOPNM services include NuVasive, SpecialtyCare, and Computational Diagnostics Inc.

Moreover, there is a growing popularity of remote IONM services due to the rise in IONM access to surgeons and patients. Remote IONM can be referred to as an advanced technique that enables the access of patients to hospitals as surgeons can remotely monitor the postoperative health of patients. The main advantage of this technique is that it offers IONM access to patients living in areas that do not have surgical centers or hospitals. Hence, such factors are positively impacting the market growth. Therefore it is expected to drive the market growth during the forecast period.

Major Market Challenges

Shortage of skilled professionals is one of the key challenges hindering the market growth. Factors such as the rigors of the monitoring procedure and protocols, as well as the clinical experience of the monitoring physician significantly influence the accuracy and reliability of the results generated by the IONM procedures. Therefore, the presence of a well-trained, experienced technologist is essential at the operating site, while recording and monitoring a single surgical case for optimal results.

However, there is a shortage of skilled professionals in the market and there is a high chance that Inexperienced personnel may record false-positive or false-negative events during monitoring, which may result in a significant risk of nerve damage or other complications. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the US intraoperative neuromonitoring market growth during the forecast period.

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Customer Landscape

The market report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Market Customer Landscape

Market Analyst Overview

The market plays a crucial role in addressing neurological disorders like Parkinson's disease, movement disorders, and epilepsy. It utilizes advanced technologies such as brain implants, deep brain stimulation, and surgical robots to ensure patient safety during procedures. With applications in neurosurgery, Ophthalmic surgical devices, and cardiovascular conditions, it aids in the treatment of chronic diseases like stroke, Alzheimer's disease, and cancer. Despite challenges like a lack of awareness and skilled personnel, the market continues to grow, driven by the rising geriatric population and advancements in medical imaging, artificial intelligence, and machine learning, facilitating accurate diagnosis and treatment of conditions like Traumatic brain injury (TBI) and mental disorder.

The market is witnessing significant growth, driven by advancements in neurosurgery devices, such as brain implants and surgical microscopes. With the rise in Traumatic brain injury (TBI) and neurological disorders like mental disorders and osteoarthritis (OA), there's an increasing need for accurate monitoring systems like the NIM Vital nerve monitoring system and Insource IONM. Collaborations between healthcare providers and insourced monitoring companies, alongside outsourced monitoring services, are enhancing patient care. Reimbursement policies and remote patient monitoring technologies are improving healthcare accessibility, despite challenges posed by economic recessions and healthcare budget constraints. The market spans various segments, including spinal surgery, orthopedic surgery, and electromyography (EMG), catering to diverse patient needs, from joint replacements to complex bone reconstructions.

The market is witnessing substantial growth due to factors like an aging population and the increasing prevalence of conditions such as heart disease, COPD, and diabetes. With advancements in neuromonitoring devices and IONM technology, spinal surgeries are becoming safer and more effective. Proprietary software and FDA-approved devices ensure high procedural frequency and patient safety. As the average lifespan increases, so does the demand for intraoperative neuromonitoring, especially among the elderly population facing demographic-specific health conditions. This technology plays a crucial role in safeguarding the nervous system and monitoring neural pathways during surgical procedures, ensuring better patient outcomes and quality of life.

Segment Overview

The  US intraoperative neuromonitoring market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Application Outlook 
  • Orthopedic and neuro surgeries
  • Cardiovascular surgeries
  • ENT surgeries
  • Others
• Type Outlook 
  • Insourced IONM
  • Outsourced IONM

US Intraoperative Neuromonitoring Market Scope
Report Coverage	Details
Page number	130
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 5.8%
Market growth 2023-2027	USD 573.22 million
Market structure	Fragmented
YoY growth 2022-2023(%)	5.15
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	Accurate Neuromonitoring LLC, Assure Holdings Corp., Cadwell Industries Inc., Comprehensive Care Services, Computational Diagnostics Inc., EMOTIV, inomed Medizintechnik GmbH, IntraNerve Neuroscience Holdings LLC, Medsurant Health, Medtronic Plc, Natus Medical Inc., Neuro Alert, NeuroMonitoring Technologies, Neurosoft, Nihon Kohden Corp., Nuvasive Inc., Orimtec, ProPep Surgical, SpecialtyCare Inc., and Technomed
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, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting between 2023 and 2027
• Precise estimation of the market size and its contribution to the market in focus on the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies' position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Market growth analysis across the US
• A thorough market forecast and analysis of the market’s competitive landscape and detailed information about companies
• Market forecasting of factors that will challenge the growth of the key market companies

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