New York, USA, Nov. 24, 2020 (GLOBE NEWSWIRE) -- According to a Research Dive published report, the global intraoperative neuromonitoring market is predicted to generate $3,413.0 million by 2026, exhibiting a CAGR of 4.5% from 2019 to 2026. The global market is segmented based on monitoring type, application, and region. The report offers complete insights on drivers, challenges, opportunities, restraints, and key players of the market.
Our analysts have stated that the growing frequency of chronic disorders and increasing geriatric population across the globe are the significant factors predicted to propel the growth of the global intraoperative neuromonitoring market during the forecast period. Moreover, the rising trend for medical tourism and technological advancements are likely to create massive growth opportunities for the global market in the coming years.
Conversely, the dearth of skilled professionals and the low awareness amongst people regarding intraoperative neuromonitoring are expected to hinder the market growth.
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Insourced Monitoring Segment to be Most Profitable
Based on monitoring type, the insourced monitoring segment is expected to be most lucrative and generate $1,754.3 million by 2026. The significant growth of this segment is mainly due to rising number of the intraoperative neuromonitoring processes being carried out through insourced monitoring type, which minimizes mistakes during the surgeries.
Neuro & Spine Surgeries Segment to Dominate the Industry
Based on application, the neuro & spine surgeries segment is predicted to subjugate the global industry and surpass $1,095.6 million by the end of 2026. The dominance of this segment is majorly attributed to the wide-ranging usage of intraoperative neuromonitoring systems in neuro & spine surgeries for continuous monitoring as these surgeries are very complex.
North America Region to Hold Highest Market Share
Based on region, the North America market for intraoperative neuromonitoring is expected to account for the majority of share and garner $1,662.1 million by the end of 2026. This is mainly due to the presence of sophisticated healthcare infrastructure and increase in number of neurological health issues in the region.
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Major Market Players
The key players of the global intraoperative neuromonitoring industry include -
- Computational Diagnostics, Inc.
- NuVasive, Inc.
- NIHON KOHDEN CORPORATION
- Medsurant Health
- Moberg Research, Inc.
- Cadwell Industries, Inc.
- Medgadget, Inc.
- Medtronic
- IntraNerve Neuroscience Holdings, LLC
- NeuroMonitoring Technologies, Inc.
- Accurate Monitoring.
Further, the report summarizes and outlines various aspects of these key players such as product portfolio, business performance, SWOT analysis, and many more. Quick Download Top Companies Development Strategies Summary Report
Technological advancements, mergers & acquisitions, joint ventures, and geographical expansion are some of the strategies adopted by these players to hold a significant position in the global market. For instance, in December 2017, NuVasive, Inc. completed the acquisition of a privately held intraoperative neurophysiological monitoring service provider, Safe Passage to expand the neuromonitoring business. According to the company, the addition of SafePassage has made it the largest provider of outsourced intraoperative neuromonitoring services in the U.S.