IONM Market To Grow Due To The Favorable Reimbursement Scenario Till 2025:Grand View Research,inc.
The global Intraoperative Neuromonitoring (IONM) market is
expected to reach USD 3.6 billion by 2025, based on a new report by Grand View
Research, Inc. The intraoperative neuromonitoring market is anticipated to
witness significant growth in the forecast period, which can be attributed to
the hospitals adopting intraoperative monitoring in a wide spectrum of
surgeries.
Major surgeries pose a risk to the
nervous system that necessitates neuromonitoring. This has resulted in growing
popularity of intraoperative neuromonitoring amongst surgical teams, surgeons,
and hospitals. It results in reduced cases of revision surgeries, postoperative
complications, and permanent impairment.
Industry players are acquiring
smaller companies to expand their product offerings and geographical presence.
For instance, in June 2016, Biotronic NeuroNetwork, LLC, headquartered in
Michigan, was acquired by NuVasive, Inc., in a transaction worth USD 98
million.
Browse full research report on Intraoperative
Neuromonitoring (IONM) Market: http://www.grandviewresearch.com/industry-analysis/intraoperative-neuromonitoring-market
Further key findings from
the study suggest:
- Insourced IONM dominated the market in 2015, which is
attributed to the rising number of surgeries and emphasis on patient
during the procedures. IONM is utilized to minimize the neurological
morbidity caused by operative manipulations. This offers detection of
injuries during the operation and minimizes the risk of permanent nerve
damage. Hospitals have adopted intraoperative monitoring and have trained
technologists, who are supervised by neurologists and physiologists during
the procedures.
- Outsourced IONM is also gaining popularity and is
expected to grow at a rapid rate over the forecast period Hospitals and
healthcare centers choose to outsource their IONM needs due to benefits
such as cost-efficiency and availability of focused service providers.
- Geographically, North America dominated the industry
in 2015 and is expected to maintain its position during the forecast
period. It is accepted as a standard of care by the medical community in
this region due to its benefits. New neurosurgeons and orthopedic surgeons
are being trained to adopt this technique during procedures.
- Asia Pacific is anticipated to observe the fastest
growth over the coming years. Rising number of surgeries, developing
economies, growing capacity of patients to bear expenses, and presence of
a large patient pool are few factors contributing to this growth.
- Some of the key industry contributors are Biotronic
NeuroNetwork, LLC; Medtronic; Accurate Monitoring; NuVasive Inc.; Natus
Medical Incorporated; SpecialtyCare; Sentient Medical Systems; and
NeuroMonitoring Technologies, Inc.
Browse more reports of this category by Grand View
Research: http://www.grandviewresearch.com/industry/medical-devices
Grand View Research has segmented the intraoperative
neuromonitoring (IONM) market by type and region:
IONM Market Type Outlook (Market Revenue in USD Million,
2014 - 2025)
- Insourced
IONM
- Outsourced
IONM
IONM Market Regional Outlook (Market Revenue in USD
Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Europe
- Germany
- UK
- Asia
Pacific
- Japan
- China
- Latin
America
- Brazil
- Mexico
- MEA
- South
Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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