Nerve Monitoring System Market Size Worth USD 2.35 Billion in 2032 | Emergen Research

Increasing use of nerve monitoring in trauma cases, growing availability of medical reimbursements for nerve monitoring, and clinical benefits associated with nerve monitoring systems are some of the major factors driving the Nerve Monitoring System market revenue growth.

Vancouver, Jan. 25, 2024 (GLOBE NEWSWIRE) — The global nerve monitoring system market size was USD 1.45 Billion in 2022 and is expected to register a revenue CAGR of 4.9% during the forecast period. Increasing use of nerve monitoring in trauma cases, growing availability of medical reimbursements for nerve monitoring, and clinical benefits associated with nerve monitoring systems are some of the major factors driving the market revenue growth. In addition, technological advancements in neuro-monitoring products are contributing to revenue growth of the market

The Rising use of nerve monitoring in trauma cases is one of the major factors driving revenue growth of the market. Among trauma-related injuries, Traumatic Brain Injury (TBI) is the most common cause of death and disability. According to the research, traumatic brain injury affects over 1.7 million individuals in the United States, with seniors 65 and older and teenagers between the ages of 15 and 19 having highest risk of suffering one. The care and prognosis of individuals with severe TBI depend heavily on neuromonitoring.

Moreover, technological advancements in neuromonitoring products is another factor driving revenue growth of the market. A significant increase in mental stress as a result of rigorous work schedules, as well as an increase in chronic conditions and communicable diseases, is creating a high demand for neuromonitoring products.

As a result, increasing use of non-invasive and minimally invasive intraoperative medical technology for detecting neurological diseases in patients would increase global market trends. The new product offers will contribute to the market players’ increasing consumer base. Furthermore, acquisitions and investments with other companies have helped industry participants increase their products’ global reach, adding product enhancements, establishing new product lines, and meeting product demand.

For instance, on 7 September 2022, Brainlab, a digital medical technology business, increased its Neuromonitoring Portfolio for the growth of intraoperative neuromonitoring systems and associated surgical intervention equipment. Furthermore, on 21 July 2022, ARCHIMED finalized its USD 1.1 billion take-private transaction with Natus Medical Incorporated. Natus is a global leader, producer, and distributor of medical devices for the screening, diagnosis, and treatment of illnesses influencing the brain, central nervous/peripheral nervous systems, and sensory systems. Natus is the first customer of ARCHIMED’s MED Platform II.

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The limited awareness about nerve monitoring among healthcare professionals is one of the major factors restraining the market revenue growth. Many insurance companies see intraoperative neuromonitoring for many spine operations as either exploratory or not medically required considering contentious cost-benefit analysis of the technology. Regardless of the procedure’s therapeutic usefulness, these influences might push a surgeon to use it excessively or insufficiently, thus, causing a dilemma and influencing the market revenue growth. Furthermore, high cost of these products can restrain revenue growth of the market. 

Segment Insights

Application Insights:

On the basis of application, the global nerve monitoring system market is segmented into neurosurgery, spine surgery, ENT surgery, cardiovascular applications, and others.

The ENT surgery segment registered fastest revenue growth rate during the forecast period. In ENT procedures where vulnerable nerves are present, nerve monitoring devices are significant. With the use of these technologies, surgeons can locate and safeguard important nerves during operations such as thyroidectomy, parotidectomy, and cochlear implantation, including facial nerve or recurrent laryngeal nerve. As surgeons work to improve accuracy, safety, and patient outcomes, there is a growing need for nerve monitoring devices in ENT procedures. Revenue growth of the ENT surgery segment is further driven by rising prevalence of ENT illnesses and technical improvements in nerve monitoring systems.

Technology Insights:

On the basis of technology, the global nerve monitoring system market is segmented into Electromyography (EMG), Electroencephalography (EEG), Electrocorticography (ECOG), and Evoked Potential (EP).

The Electromyography (EMG) segment registered fastest revenue growth rate in 2022. Electromyography (EMG) is a technique for measuring muscle response or electrical activity that occurs in response to nerve stimulation of a muscle. The test is utilized to aid in the detection of neuromuscular disorders. EMG testing can provide information regarding the impulses from the nerves that control contraction as well as the responses of the muscle fibers.

EMG is an especially appealing alternative since it offers an affordable and low-powered means of monitoring muscle-based inputs while eliminating many of the constraints that accompany other technologies. For instance, it eliminates the need for bulky equipment such as data gloves and can be simpler and computationally complex than computer vision systems. Users can also trigger low-level contractions of muscles that are quicker and more discreet than the dynamic movements or body postures necessary for other input modalities, based on the desired engagement.

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Regional Insights:

Asia Pacific is expected to register fastest revenue growth rate over the forecast period. Several variables are driving the Asia Pacific region market revenue growth including increasing use of nerve monitoring devices in surgical operations as healthcare professionals become more aware of their advantages. These technologies are increasingly being used by surgeons to guarantee integrity and safety of vital nerves during difficult operations.

The need for nerve monitoring systems for precise diagnosis and treatment is growing as neurological problems are becoming more prevalent and the population is aging. In addition, these systems are now easier to access for healthcare providers in the area due to technology improvements and the availability of affordable monitoring options.

Europe is expected to account for a significantly large revenue share over the forecast period due to the presence of leading companies and their product launches. The government has also started taking initiatives for the development of this nerve monitoring system, which is also driving revenue growth of the market in this region.

For instance, on 29 October 2020, Medtronic plc, a global leader in medical technology, declared that the NIM VitalTM nerve monitoring system has received FDA 510(k) clearance, allowing doctors to detect, confirm, and track nerve function to minimize the risk of damage to the nerves during head and neck surgery. The NIM Vital system employs patented technology to deliver extensive intraoperative nerve status data, which guides surgical strategy, improves operation efficiency and precision, and helps in the protection of patients’ quality of life.

Scope of Research

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Major Companies and Competitive Landscape

The global nerve monitoring system market is fairly fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more nerve monitoring system solutions. Some major players included in the global nerve monitoring system market report are:

• • Medtronic
  • NuVasive, Inc.
  • Nihon Kohden Corporation
  • Natus Medical Incorporated
  • Checkpoint Surgical Inc.
  • Magstim
  • Inomed Medizintechnik GmbH
  • Erbe Elektromedizin GmbH
  • NeuroVision Imaging, Inc.
  • Natus Medical Incorporated.

Strategic Development

• 8 March 2023Product launchCompumedics Limited was happy to announce that its Okti high-density EEG amplifier range has just acquired 510(k) clearance from the United States Food and Drug Administration (FDA). This news will enable the newly enlarged sales team in the United States to actively pursue sales of Okti across the USD 400 million USD EEG market in the United States, which aims to capture 1% to 2% of this market.
• 24 May 2021Product launchNeurosign announced the launch of its new intraoperative nerve monitoring V4 system for tracking cranial nerves and spinal nerve roots during procedures in the United States. The V4 4-channel and 8-channel nerve monitoring devices have been approved by the FDA.

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For the purpose of this report, Emergen Research has segmented the global nerve monitoring system market on the basis of component, technology, application, end-use, and region:

• Component Outlook (Revenue, USD Billion; 2019-2032)

• • 1. Software
       • Monitoring and Display Software
       • Signal Processing Software
       • Data Recording and Storage Software
       • Analysis and Reporting Software
       • Integration and Connectivity Software
       • Alert and Alarm Software
    2. Hardware
       • Electrodes
         • Surface Electrodes
         • Needle Electrodes
         • Subdermal Needle Electrodes
         • EMG Hookwire Electrodes
       • Probes
         • Stimulation Probes
           • Concentric Bipolar Stimulator Probe
           • Side-by-Side Bipolar Stimulator Probe
           • Prass Bipolar Stimulator Probe
         • Recording Probes
       • Amplifiers
         • Electromyography (EMG) Amplifiers
         • Evoked Potentials (EP) Amplifiers
           • Somatosensory Evoked Potentials (SSEP) Systems
       • Accessories and Consumables
         • Cables and Connectors
         • Needle Holders
         • Sterile Covers
       • Nerve Stimulators
         • Single-Pulse Nerve Stimulators
         • Train-of-Four (TOF) Nerve Stimulators
         • Peripheral nerve stimulation (PNS)
       • Nerve Integrity Monitors (NIM)

• • • • Others
• Technology Outlook (Revenue, USD Billion; 2019-2032)
  • Electromyography (EMG)
  • Electroencephalography (EEG)
  • Electrocorticography (ECOG)
  • Evoked Potential (EP)
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Neurosurgery
  • Spine Surgery
  • ENT Surgery
  • Cardiovascular Applications
  • Others
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Hospitals
  • Ambulatory Surgical Centers
  • Others
• Regional Outlook (Revenue, USD Billion; 2019–2032)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. France
    3. U.K.
    4. Benelux
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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