Nerve Monitoring System Market by Product (Nerve Monitor, Electrode, Probe, Accessories), Technology (EEG, EMG, EP, ECOG), Application (Neurosurgery, ENT Surgery, Spine Surgery, Cardiovascular Surgery), End User (Hospital, ASC) - Global Forecasts to 2022
“Nerve monitoring system market projected to grow at a CAGR of 4.9%”
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%. The increased target patient population, clinical benefits associated with nerve monitoring procedures, and the rising use of nerve monitoring in trauma cases are factors expected to drive the market during the study period. However, the limited awareness among healthcare professionals is expected to restrain the growth of this market
“The nerve stimulation electrodes and probes segment is expected to be the fastest growing segment on the basis of products”
The nerve stimulation electrodes and probes segment is expected to grow at the highest CAGR during the forecast period owing to the increasing awareness about the clinical benefits associated with nerve monitoring, increasing number of complex & critical surgeries worldwide, and ongoing technological advancements in the field of nerve stimulation & monitoring.
“Electroencephalography segment expected to be the largest segment in 2017”
The market is segmented into electromyography, electroencephalography, electrocorticography, and evoked potential on the basis of technology. The electroencephalography segment is estimated to command the largest share of the global nerve monitoring system market in 2017. The increasing adoption of nerve monitoring procedures during neurosurgeries, significant adoption of EEG among researchers, procedural advantages of EEG over other nerve monitoring technologies are the key factors driving the growth of the market.
“North America is expected to register the highest growth rate in the nerve monitoring system market”
Geographically, the nerve monitoring system market is segmented into North America, Europe, Asia, and RoW. North America is expected to register the highest growth rate during the forecast period due to the significant adoption of nerve monitoring owing to the growing number of clinical trials that have proved its therapeutic efficacy in surgeries.
Breakdown of supply-side primary interviews:
• By Company Type - Tier 1 – 45%, Tier 2 – 34% and Tier 3 – 21%
• By Designation – – C level – 14%, Director level – 10%, Others – 76%
• By Region – North America - 40%, Europe – 32%, APAC – 20%, RoW – 8%
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).
This report studies the nerve monitoring system market based on product, technology, application, end user, and region. The report also studies factors affecting market growth, it analyzes opportunities and challenges in the market and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micromarkets with respect to their individual growth trends. The report forecasts the revenue of market segments with respect to the four key regions and respective countries.
Reasons to Buy the Report:
From an insights perspective, this research report has focused on various levels of analysis— market ranking analysis of top players, and company profiles, which together comprise and discuss basic views on the competitive landscape, emerging segments of the Nerve monitoring system market, and high-growth regions and their drivers, restraints, challenges, and opportunities. The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner greater market shares.