Nerve Monitoring System Market – Major Factors Boosting the Global Revenue

Target Audience for This Study:

Nerve monitoring product manufacturers
Nerve monitoring product suppliers and distributors
Contract manufacturers
Healthcare service providers [including hospitals, surgical centers, and ambulatory surgical centers (ASCs)]
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 Devices 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.

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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.

Key Questions Addressed in this Study:

What are the business growth strategies adopted by key market players to maintain their market position across key geographies?

What is the existing developmental pipeline of major nerve monitoring systems among Medtech manufacturers as well as academia?

Growing number of trauma based surgical procedures is a key trend in clinical management. What impact trauma based surgical procedures will have on nerve monitoring systems market during the forecast period?

What alternative technologies/therapies are currently being used for nerve monitoring worldwide? What competition they pose for key nerve monitoring systems market players?

Based on application
neurosurgery isestimated to be the largest segment of the market in 2017.

The Nerve Monitoring Devices Market is segmented by application into cardiovascular, neurosurgery, spine surgery, ENT surgery, and other applications. The neurosurgery segment is expected to have the largest share in the nerve monitoring system market in 2017, owing to increasing number of patients suffering from neurological disorders.

Based on end users, the
hospitals and surgical centers segmentis expected to register fastest growth rate in the forecast period

The nerve monitoring system market is segmented intohospitals 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.

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North America accounted for the largest share of the nerve monitoring system market

Geographically, the nerve monitoring system market is segmented into North America, Europe, Asia, and the Rest of the World. North America is estimated to account for the largest share of the market in 2017, which is driven by the presence of a large patient population accompanied by a well established medical reimbursement policy.

The major players of the Nerve Monitoring Devices 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.