# Nerve monitoring product manufacturers
# Nerve monitoring product suppliers and distributors
# Contract manufacturers
# Healthcare service providers
# Research laboratories and academic institutes
# Clinical research organizations (CROs)
# Government regulatory authorities
# Independent associations and non-government organizations
# National and international regulatory authorities
# Market research firms
The Global Nerve Monitoring System Market is projected to reach USD 1.45 Billion by 2022 from USD 1.14 Billion in 2017, at a CAGR of 4.9% during the forecast period.
Factors such as increased target patient population, clinical benefits associated with nerve monitoring procedures, and the rising use of nerve monitoring in trauma cases are expected to drive the demand for nerve monitoring products during the study period.
Based on end users, the hospitals and surgical centers segment is expected to register fastest growth rate in the forecast period
The nerve monitoring system market is segmented into hospitals and surgical centers and ambulatory surgical centers segment. The hospitals and surgical centers is projected to be the fastest-growing end-user segment due to increasing number of complex surgical procedures, and rising number of diagnostic and surgical procedures carried out at hospitals.
In 2016, North America held the largest share of the market and registers the highest growth rate during the forecast period. The growth of this North America market is attributed to the significant adoption of nerve monitoring owing to the growing number of clinical trials that have proved its therapeutic efficacy in surgeries and the availability of medical reimbursement in the US. Furthermore, the market growth is attributed to large patient population for target diseases, strong presence of device manufacturers in the region, and the availability of significant R&D investments to support nerve monitoring product development.
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Based on the technology, the electromyography segment is expected to register highest growth rate during the forecast period
Based on technology, the nerve monitoring system market is divided into electroencephalography, electromyography, electrocorticography and evoked potential. Among these segments, electromyography is expected to grow at the highest CAGR during the forecast period. Growing availability of reimbursements for EMG-assisted surgical procedures in developed countries, significant use of EMG nerve monitoring for intraoperative applications, and technological advancements in the field are expected to drive the growth of the electromyography segment in the next five years.
Major Industry Leaders:
The major players of the nerve monitoring system market are Medtronic (Ireland), NuVasive (US), Nihon Kohden (Japan), Bovie Medical (US), and Natus Medical (US), Checkpoint Surgical (US), Magstim (UK), Inomed (Germany), Erbe Elektromedizin (Germany), Dr. Langer Medical (Germany), EMS Handels (Austria), Neurovision Medical (US), and Halyard Health (Georgia).
Analysis of the market developments between 2015 and 2017 revealed that several growth strategies such as product launches, acquisitions, mergers, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the nerve monitoring system market. Among these business strategies, mergers and acquisitions, were the most widely adopted growth strategies by players to strengthen their product portfolios and to remain competitive in the market.
Medtronic (Ireland) held the leading position in the global nerve monitoring systems market in 2016. The company offers Intraoperative NIM nerve monitoring systems that provide audio and visual warnings to surgeons for various procedures such as ENT, biopsy, neuroendoscopy, and general surgeries.
NuVasive (US) secured the second position in the global nerve monitoring system market in 2016. The company is focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions. The company’s nerve monitoring system “NVM5 platform” is capable of performing various functions during spine surgery such as nerve avoidance and navigation, nerve monitoring and instrument navigation, spinal cord monitoring, peripheral sensory nerve monitoring, computer-assisted, rod-bending technology, and intraoperative angular assessment tools.
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