US Intraoperative Neuromonitoring Market Set to Grow at 5.8% CAGR by 2027

The US-Intraoperative Neuromonitoring (IONM) Market is projected to expand by USD 573.22 million, maintaining a steady CAGR of 5.8% from 2022 to 2027. This growth is attributed to significant advancements in monitoring techniques, software, and hardware over the past decade. The emergence of new devices and advancements in anesthesiology have further enhanced the utility and precision of IONM. 

The Equipment for IONM typically includes a high-quality multi-channel analog amplifier and an analog-to-digital converter, interfacing with computer software for signal analysis. Innovations in electronics and computer technology have led to the development of IONM devices that are more efficient, user-friendly, reliable, and capable of better data control. These improvements are expected to drive the market growth significantly.

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Market Segmentation and Applications

Diverse Medical Applications

Technavio has segmented the US IONM market into applications and types, highlighting its importance in ensuring patient safety and precision during surgical interventions. IONM plays a crucial 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. In 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.

Market Segmentation by Surgery Type

Orthopedic and Neuro Surgeries Leading the Growth

The orthopedic and neuro surgeries segment is expected to witness substantial growth during the forecast period. The increasing adoption of IONM in various spine surgical procedures, including cervical, thoracic, and lumbar spine fusion, nerve root decompression, and corrective procedures for scoliosis in both pediatric and adult patients, is driving this segment. 

The segment was valued at USD 841.92 million in 2017 and has seen significant growth due to the rise in complex spine surgeries involving aggressive deformity correction and tumor resection. The adoption of IONM in these procedures helps minimize postoperative neurological complications and reduce the risk of inadvertent injury, thereby driving market growth.

Market Dynamics and Challenges

Addressing Neurological and Cardiovascular Conditions

The market plays a vital role in addressing 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 such as lack of awareness and skilled personnel, AI and ML contribute to improved outcomes. Reimbursement policies further support market growth, particularly for the geriatric population and patients with cancer and osteoarthritis.

Key Drivers of Market Growth

Increasing Surgical Procedures Requiring IONM

A primary factor driving the US IONM market is the growing number of surgeries that necessitate neuromonitoring. The adoption of IONM in high-risk surgeries, including spinal, musculoskeletal, and cardiovascular procedures commonly associated with neurological complications, is on the rise. Spinal and musculoskeletal disorders are prevalent and often lead to severe long-term pain and disabilities, requiring spine surgery as an ideal treatment for some patients. IONM enables early detection of electrophysiologic changes during spine surgery, helping surgeons perform precise surgical interventions and reducing the risk of neurological complications.

Emerging Trends in Remote IONM

Remote Neuromonitoring Services

A significant trend shaping the market is the rising adoption of remote IONM. As the need for continuous neuromonitoring during complex surgeries grows, remote IONM services are becoming increasingly popular. Prominent service providers like NuVasive, SpecialtyCare, and Computational Diagnostics Inc. offer remote IONM services, providing access to surgeons and patients in areas without surgical centers or hospitals. This advanced technique allows for postoperative health monitoring and expands the reach of IONM services, positively impacting market growth.

Challenges in the Market

Shortage of Skilled Professionals

One of the main challenges hindering market growth is the shortage of skilled professionals. The accuracy and reliability of IONM procedures depend significantly on the clinical experience of the monitoring physician and the presence of well-trained, experienced technologists. Inexperienced personnel may record false-positive or false-negative events during monitoring, leading to a significant risk of nerve damage or other complications. This shortage of skilled professionals is a major challenge for the US IONM market.

Customer Landscape and Adoption Lifecycle

Market Penetration and Adoption Rates

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

Analyst Overview and Future Prospects

Addressing Neurological Disorders

The market plays a crucial role in addressing neurological disorders such as Parkinson's disease, movement disorders, and epilepsy. Advanced technologies like brain implants, deep brain stimulation, and surgical robots ensure patient safety during procedures. Despite challenges like lack of awareness and skilled personnel, the market continues to grow, driven by the rising geriatric population and advancements in medical imaging, AI, and ML, facilitating accurate diagnosis and treatment of conditions like TBI and mental disorders.

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Conclusion

Positive Market Outlook

The US Intraoperative Neuromonitoring Market is experiencing substantial growth due to advancements in neurosurgical devices, the increasing prevalence of neurological and cardiovascular conditions, and the integration of AI and ML in medical imaging. The market addresses critical needs in various medical specialties, ensuring patient safety and improved surgical outcomes. Despite challenges such as the shortage of skilled professionals, the market is poised for continued growth, driven by technological advancements and favorable reimbursement policies.

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Technavio Research

Jesse Maida

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