Europe Intraoperative Neuromonitoring Market Key Companies and SWOT Analysis by 2027

The Europe intraoperative neuromonitoring market is expected to reach US$ 1,050.41 million by 2027 from US$ 596.95 million in 2019; it is estimated to grow at a CAGR of 7.4% from 2020 to 2027.

Factors such as rising incidences of neurological disorders and increasing technological advancements in the field of neuromonitoring are expected to propel the growth of the market. However, lack of skilled professionals and unstable economic condition of Europe are the major factor hindering the market growth.

Intraoperative neurophysiological monitoring (IOM) is an integral part of most of the surgical procedures. It has been widely used to prevent the neurological damage caused during number of surgeries, identify neural structures and thereby prevent post-operative impairments. IOM employs a wide range of modalities, which includes motor evoked potentials (MEPs), somatosensory evoked potentials (SSEPs), electroencephalography (EEG), electromyography, brainstem auditory evoked potentials (BAEPs), and visual evoked potentials (VEPs).

The growing prevalence of neurological disorders and increasing emphasis on patient safety during complicated surgeries are driving the growth of the intraoperative neuromonitoring market. Neurological diseases encompass the brain, spine, and the nerve disorders. The neurovascular systems are dependent on the continuous supply of oxygen and nutrients. The supply of oxygen and nutrients to the brain is essential for its working. Therefore, a defect in the system can impair the function and become a life-threatening factor. Neurological complications include stroke and spinal cord ischemia. During recent years, the prevalence of neurological disorders has increased significantly. For instance, the cerebral aneurysm is one of the neurovascular diseases that is rising significantly. According to the NHS, 3% of people in the UK suffer from brain aneurysm rupture.

Moreover, traumatic brain injuries have also increased, leading to brain-related fatalities. For instance, Traumatic brain injury (TBI) is a major cause of mortality and morbidity. In England and Wales, ∼1.4 million patients per year attend hospital following head injury and it is the most common cause of death under the age of 40 years. Intraoperative neuromonitoring (IONM) is the only option to assess the early symptoms and conditions during emergency brain trauma. These benefits have made it mandatory in neurosurgeries. Rising prevalence of neurological diseases is anticipated to drive the need for the IONM, in turn, increasing demand for IONM products.

The impact of the COVID-19 pandemic on cancer patients is high in terms of anxiety, fear, and psychological distress. As per the news article, in Italy, due to Covid-19 emergency, access for thousands of cancer patients in need of chemotherapy, scans, transplants and surgery has become difficult. According to the research led by Codice Viola, charity that supports pancreatic cancer patients found that more than 1,000 surgery patient patients’ appointments for chemotherapy or radiotherapy were suspended. Thus, COVID-19 hampers the growth of the intraoperative neuromonitoring market in the forecasted period.

Rest of Europe Intraoperative neuromonitoring Market, Revenue and Forecast to 2027 (US$ Mn)

EUROPE INTRAOPERATIVE NEUROMONITORING MARKET SEGMENTATION

By Product

• Systems
• Accessories
• Services

By Source

• Insourced Monitoring
• Outsourced Monitoring

By Modality

• Motor Evoked Potentials
• Somatosensory Evoked Potentials
• Electroencephalography
• Electromyography
• Brainstem Auditory Evoked Potentials
• Visual Evoked Potentials

By Application

• Spinal Surgery
• Neurosurgery
• Vascular Surgery
• ENT Surgery
• Orthopedic Surgery
• Other Surgeries

By End User

• Hospitals
• Ambulatory Surgical Centers

By Country

• Germany
• France
• UK
• Italy
• Spain

Company Profiles

• Medtronic
• inomed Medizintechnik GmbH
• Natus Medical Incorporated
• NuVasive, Inc
• SpecialtyCare

Europe Intraoperative Neuromonitoring Report Scope