Nerve Monitoring System Market (Technology - Electromyography (EMG), Electrocorticography (ECOG), Electroencephalography (EEG), and Evoked Potential (EP); Product - Nerve Monitors, Electrode & Probes, and Accessories; Application - Neurosurgery, Cardiovascular Applications, ENT Surgery, and Spine Surgery; End-User - Hospitals and Surgical Centers, Ambulatory Surgical Centers, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2024. The global nerve monitoring system market is projected to grow at a CAGR of 6.7% over the forecast period of 2018-2024.
Pune, India -- (SBWIRE) -- 05/09/2019 -- Nerve Monitoring System Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of nerve monitoring system market by technology (electromyography, electrocorticography, electroencephalography, evoked potential), product (electrode & probes, accessories), application (neurosurgery, cardiovascular, spine), end-user (hospitals, ambulatory surgical centers) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the nerve monitoring system market it includes the five years industry analysis and the 6 years annual forecast from 2018 to 2024. According to the report, the global nerve monitoring system market is projected to grow at a CAGR of 6.7% over the forecast period of 2018-2024.
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Nerve Monitoring System Market: Insights
Nerve monitoring systems assist surgeons to identify, monitor, and confirm nerve function during surgical procedures. The surgeons rely on nerve monitoring systems for real-time accurate information on the location and function of nerves. The main advantage of the nerve monitoring system is that they reduce the risk of potential damage to the nerves. At the time of general and ENT surgeries, these devices are most commonly used. Moreover, this system helps to monitor and identify brain disorders such as irretrievable nerve damage, spinal cord, & external nerve breakdown. During surgery, the chances of nerve damage can be high; to avoid this situation it is necessary to use the nerve-monitoring system. Neurophysiologist can keep a record of the proper functioning of nerve with the help of this system.
Nerve Monitoring System Market: Drivers and Restraints
Growth in a number of surgeries, increasing geriatric population, and use of nerve monitoring devices at the time of complex and critical surgeries are major factors driving factors for the growth of the nerve monitoring system market. The old age populations are more inclined towards nervous diseases that are more likely to promote nerve monitoring system market. As per an estimation, 13.8 million neurosurgical cases develop each year. This results in an increasing demand for the nerve monitoring system. Further, the increase in brain injuries and growth in consciousness regarding neurodegenerative disorders among populations are boosting factors for this market. Additionally, increasing occurrences of injuries that require surgical treatment such as neuropathies and spinal cord injuries are supporting the growth of the nerve monitoring system market. Besides, growing healthcare infrastructure in emerging countries and growing R&D investments are generating future opportunities for this market. On the other side, less adoption of nerve monitoring devices across emerging markets is hampering the growth of the nerve monitoring system market.
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Nerve Monitoring System Market: Regional Analysis
As per the geographies, North America region is leading the nerve monitoring system market followed by Europe and Asia Pacific region. In North America, growing demand for neural surgeries and the high aged population has helped in the enlargement of the nerve monitoring system market. Further, in Europe region factors such as technological advancement and the existence of adequate reimbursement schemes are boosting the market growth. Moreover, in Asia Pacific region-increasing spending on health care infrastructure through developing countries such as India, China & Japan, and availability of advanced medical trials are fueling the demand for nerve monitoring market.
Nerve Monitoring System Market: Segmentation
The report on the global nerve monitoring system market covers segments such as technology, product, application, and end-user. On the basis of technology, the sub-markets include electromyography (EMG), electrocorticography (ECOG), electroencephalography (EEG), and evoked potential (EP). On the basis of product, the sub-markets include nerve monitors, electrode & probes, and accessories. On the basis of application, the sub-markets include neurosurgery, cardiovascular applications, ENT surgery, and spine surgery. On the basis of end-user, the sub-markets include hospitals and surgical centers, ambulatory surgical centers, and others.
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Nerve Monitoring System Market: Competitive Landscape
The report provides profiles of the companies in the market such as Medtronic, BOVIE MEDICAL, Neurovision Medical Products™, NuVasive®, Inc, NIHON KOHDEN CORPORATION, Magstim, Erbe Medical India Pvt Ltd, Checkpoint Surgical Inc, Natus Medical Incorporated, AXON Communications Inc, and Dr. Langer Medical GmbH.
- Rising Use of Nerve Monitoring Devices During Complex and Critical Surgeries.
- Growing Geriatric Population.
- Growth in the Number of Surgeries.
- Less Adoption of Nerve Monitoring Devices Across Emerging Markets.
- Growing R&D Investments and Advancements in Wearable Devices.
- Growing Healthcare Infrastructure in Emerging Countries.