Nerve Monitoring Devices Market Anticipated to Grow at a Significant Pace by 2025
Nerve Monitoring allows supervision of nervous system for intraoperative surgeries. Nerve monitoring is an essential part of the surgery also known as intraoperative neurophysiological monitoring (IONM) or intraoperative neuromonitoring which implements electrophysiological methods like electroencephalography (EEG), electromyography (EMG), and evoked potentials to monitor the functional integrity of certain neural structures. Nerve monitoring devices are used to monitor the neurological functioning. Neurophysiologist keeps a track of the nerve functioning and work as an integral part of the surgical team nowadays to avoid situation like irreversible nerve damage during surgical procedures. Surgical neurophysiology monitoring offers wide range of testing modality. Some of them are mentioned below:
- SSEP (Somatosensory Evoked Potentials)
- TCeMEP ( Transcranial Electrical Motor Evoked Potentials)
- BSEP (Brainstem Auditory Evoked Potentials)
- EMG (electromyography)
- Pedicle Screw Stimulation
- EEG (Electroencephalogram)
- ECOG (Electrocorticography)
- Direct Cortical Stimulation
- TCD (Transcranial Doppler)
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Nerve Monitoring Devices Market: Drivers & Restraints
Nerve monitoring market is growing due to continuous advancement in medical technology both for the diagnosis and the treatment of neurological disorders have raised the demand of Nerve Monitoring devices. Rise in the ageing population leading to increase in the number of surgical procedures being performed at the global level and increase in the incidence of neurological disorders are some major factors driving the growth of Nerve Monitoring devices market. More awareness amongst the surgeons is helping the market to dwell in developed countries however the market of developed countries are more or less saturated and have a limited growth opportunity as compared to developing countries especially Asia Pacific countries where due to large population the market growth can be significant in the upcoming years. Lack of skilled professionals in the developing countries and poor or unstable reimbursement regulations are hampering the growth of Nerve monitoring devices in developing countries.
Nerve Monitoring Devices Market: Segmentation
Nerve Monitoring Devices market is classified on the basis of product type, modality and geography.
Based on product type, the global Nerve Monitoring market is segmented into the following:
- Cables, Lead wires, Adapters
- Reusable Surface Electrodes
- Disposable Surface Electrodes
Based on modality, the global Nerve Monitoring market is segmented into the following:
- Electroencephalography (EEG)
- Electromyography/nerve conduction studies/evoked potential (EMG/NCS/EP)
- Magnetoencephalography (MEG)
Nerve Monitoring Devices Market: Overview
Nerve monitoring has become an integral part in surgical procedures like spine, brain, vascular and orthopedic surgeries. Nerve monitoring is essential due to increasing incidence of neurological disorders. Nerve monitoring devices market is well established in the developed countries, however some developing countries, where healthcare sector is not much developed are still using alternatives to nerve monitoring. Majorly this market is driven by after sales service contracts. The software used in Nerve Monitoring devices can be outsourced to the developing countries to offer low cost solutions and help in the development of these high end equipment.
Nerve Monitoring Devices Market: Region-wise Outlook
Depending on geographic regions, global Nerve Monitoring market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America is the leading region in Nerve Monitoring Devices market due to the high volumes of surgical procedures being performed. Also, the availability of established healthcare infrastructure, high contribution of healthcare to economy, patient compliance are the reasons for the high demand in North America. Europe has the second largest Nerve Monitoring Devices market due to vast technological advancement in terms of healthcare sector. Asia Pacific market is expected to grow at a good rate as compared to NA and Europe as there is ample market opportunity in countries like India and China. Nerve Monitoring Devices market in NA and Europe are almost saturated.
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Nerve Monitoring Devices Market: Key Players
Some of the key market players in global Nerve Monitoring Devices market are Medtronic, NuVasive, Inc., Magtism, Inomed, NIHON KOHDEN CORPORATION, EMS Biomedical, NeuroSign, Dr. Langer Medical GmbH, Natus Medical Incorporated, Deymed Diagnostic to name a few.