Growing necessity for reduction of unwanted injuries during surgical procedures is anticipated to propel demand for intraoperative neuromonitoring (IONM) devices. Such devices can support surgeons in early detection of damages possible through advanced monitoring techniques and provide precautionary measures.
In-Depth research report on Intraoperative Neuromonitoring Market :
Acquisitions to Minimize Surgery Expenses
Major products of intraoperative neuromonitoring are insource IONM and outsource IONM. In the coming years, outsource IONM segment is likely to witness maximum growth owing to reduced capital expenditure and maintenance costs for hospitals adapting the technology. High costs of IONM devices is likely to stimulate demand for outsourcing. To cater to rising demand, most companies are offering IONM services to multiple number of surgeons operating in various hospitals and medical centers.
For instance, SpecialityCare recently announced that it had acquired Sentient to provide IONM services. This acquisition is likely to cement the former as the market leader and inclusive provider of outsourced IONM services. The company is likely to have over 500 IONM professionals to support 88,000 surgical procedures annually for more than 700 customers and 2300 surgeons. As an extension to neuroscience services, the company can now offer some advanced monitoring services such as deep brain stimulation, diagnostic electroencephalogram (EEG), ICU trans-cranial Doppler evaluations, interventional neuroradiology, and support of long-term EEG monitoring.
The global intraoperative neuromonitoring market is anticipated to exhibit phenomenal growth in terms of volume by 2021, according to a report on Radiant Insights, Inc. Increasing adoption of IONM devices to prevent any internal injury to the nervous system or any other body part during or post-surgical procedures can fuel market growth. Growing concern among surgeons regarding patient safety while performing crucial surgeries can influence market growth.
Incapability to pay for expensive surgeries and anxiety of readmission to hospital owing to post surgery contaminations among patients can drive growth of the market. Increasing adoption of surgeries owing to rising cases of chronic diseases is likely to impel growth of the market in the coming years. Promising reimbursement policies initiated by regulatory authorities can augment growth of the market during the forecast period (2017 to 2021).
Some of the leading companies offering quality IONM devices are NuVasive Inc; Natus Medical Incorporated; Cadwell; Computational Diagnostic; and Medtronic.
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