Intraoperative Neuromonitoring Market Expected to Reach $8.7 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Intraoperative Neuromonitoring Market," The intraoperative neuromonitoring market was valued at $4.8 billion in 2022, and is estimated to reach $8.7 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

Intraoperative Neuromonitoring (IONM) is a medical technique employed during surgical procedures to assess and safeguard the integrity of the nervous system in real-time. Using advanced monitoring technologies, including electrodes and sensors, IONM continuously tracks the electrical activity of nerves, spinal cord, and brain, providing vital feedback to surgeons. This real-time information helps prevent potential neurological damage during surgery, particularly in procedures involving delicate structures. Intraoperative neuromonitoring industry plays a crucial role in enhancing surgical precision, reducing the risk of complications, and ultimately improving patient outcomes by allowing for immediate intervention if any adverse neurological changes are detected.

The key factors driving the intraoperative neuromonitoring market growth includes the growing prevalence of chronic diseases, and the growing awareness and education initiatives, spearheaded by major industry players like Assure Neuromonitoring, IntraNerve Neuroscience Holdings, LLC, SpecialtyCare, and others, play a pivotal role in propelling the market growth of intraoperative neuromonitoring. These companies actively engage in organizing workshops, webinars, and training programs specifically tailored for surgeons, neurophysiologists, and operating room staff. By providing comprehensive educational resources, these initiatives aim to bridge knowledge gaps, disseminate information about the latest advancements in intraoperative neuromonitoring market trends, and highlight best practices in its implementation. 

However, the growth of intraoperative neuromonitoring market is anticipated to face constraints due to several challenges inherent in the field. One significant constraint is the high cost associated with implementing intraoperative neuromonitoring (IONM) systems. The initial investment required for advanced monitoring technologies, training programs, and ongoing maintenance can be substantial, posing a financial barrier for some healthcare facilities. 

On the basis of product & service, the market is segmented into system, accessory, and service. The service segment accounted for the largest intraoperative neuromonitoring market share in terms of revenue in 2022 and is expected to maintain its lead during the forecast period owing to the increasing adoption of comprehensive service packages offered by intraoperative neuromonitoring (IONM) providers. These service packages often include not only the deployment of monitoring technologies but also training programs, continuous technical support, and real-time monitoring during surgical procedures. Healthcare facilities opt for these integrated service solutions to ensure the seamless and effective implementation of IONM, enhancing patient safety. However, the system segment is expected to exhibit the fastest CAGR growth during the forecast period owing to increasing technological advancements and innovations in intraoperative neuromonitoring (IONM) systems. As technology evolves, newer and more sophisticated monitoring systems are introduced, offering enhanced capabilities, improved accuracy, and additional features. 

On the basis of source type, the market is segmented into insourced monitoring and outsourced monitoring. The insourced monitoring segments accounted for the largest intraoperative neuromonitoring market Share share in terms of revenue in 2022 and is expected to maintain its lead during the forecast period owing to the strategic advantages and cost-effectiveness associated with insourced monitoring. Healthcare facilities are increasingly opting for in-house intraoperative neuromonitoring market analysis and services, driven by the desire for greater control, customization, and direct oversight of monitoring processes. However, the outsourced monitoring segment of intraoperative neuromonitoring hardware & solutions is expected to register the fastest growing CAGR in the forecast period. Outsourced monitoring offers the advantage of accessing specialized expertise without the need for in-house development and management. This approach reduces the burden on healthcare facilities to maintain dedicated personnel and infrastructure, providing a more flexible and cost-effective solution. 

On the basis of application, the market is segmented into spinal surgery, neurosurgery, vascular surgery, ENT surgery, orthopedic surgery, and other surgeries. The spinal surgery segments accounted for the largest share in terms of revenue in 2022 and is expected to maintain its lead during the forecast period owing to the increasing prevalence of spinal disorders and a growing number of spinal surgeries globally. As the aging population expands, so does the incidence of conditions such as degenerative disc disease, spinal stenosis, and herniated discs, necessitating surgical interventions. However, the orthopedic surgery segment of intraoperative neuromonitoring hardware & solutions is expected to register the fastest growing CAGR in the forecast period. Orthopedic procedures, ranging from joint replacements to complex bone reconstructions, often involve proximity to critical neural structures. The demand for IONM in orthopedic surgery is driven by the need to enhance precision and reduce the risk of neurological complications. 

On the basis of modality, the market is segmented into motor evoked potential (MEPs), somatosensory evoked potential (SSEPs), electroencephalography (EEG), electromyography (EMG), brainstem auditory evoked potential (BAEPs), and visual evoked potential (VEPs). The electromyography (EMG) segments accounted for the largest share in terms of revenue in 2022 and is expected to maintain its lead during the forecast period owing to the pivotal role of electromyography (EMG) in providing real-time monitoring and assessment of motor nerve function during surgical procedures. In addition, it enables surgeons to assess the integrity of motor nerves, detect abnormalities, and make immediate adjustments to prevent potential neurological damage. However, the brainstem auditory evoked potential (BAEPs) segment of intraoperative neuromonitoring hardware & solutions is expected to register the fastest growing CAGR in the forecast period. BAEPs are crucial for monitoring the auditory pathways during surgeries, particularly those involving the brainstem. As awareness grows regarding the benefits of monitoring auditory pathways, BAEPs are anticipated to witness heightened utilization. 

On the basis of end user, market is segmented into hospitals and ambulatory surgical centers (ASCs). The hospitals segment accounted for the largest share in terms of revenue in 2022 and is expected to maintain its lead during the forecast period owing to the vital role of hospitals as primary healthcare institutions, handling a diverse range of surgical procedures, including complex and critical interventions. Hospitals, being major centers for surgeries and medical interventions, extensively utilize IONM to minimize the risk of neurological complications. However, the ambulatory surgical centers (ASCs) segment is expected to exhibit the fastest CAGR growth during the forecast period. There is an increasing prominence of intraoperative neuromonitoring (IONM) in outpatient settings. ASCs are increasingly adopting IONM technologies due to advancements that enable more efficient and cost-effective monitoring during a wide range of surgical procedures.  

On the basis of region, North America has the largest share in terms of revenue in 2022 and is expected to maintain its lead during the forecast period owing to growing access to advanced medical technologies and a well-developed network of healthcare facilities. Additionally, the high incidence of chronic conditions and the aging population contribute to the sustained demand for healthcare services. However, Asia-Pacific is expected to exhibit the fastest growth for intraoperative neuromonitoring industry during the forecast period, owing to increase in adoption of intraoperative neuromonitoring technologies and high prevalence of chronic diseases. Moreover, rise in investments and presence of key players in the intraoperative neuromonitoring field majorly drives the growth of the market in Asia-Pacific.

Key findings of the study

• On the basis of products & services, the service segment dominated the market in terms of revenue in 2022. However, the system segment is anticipated to grow at the fastest CAGR during the intraoperative neuromonitoring market forecast period.  

• On the basis of source type, the insourced monitoring segment dominated the intraoperative neuromonitoring market size in terms of revenue in 2022. However, the outsourced monitoring segment is anticipated to grow at the fastest CAGR during the forecast period. 

• On the basis of application, the spinal surgery segment dominated the market in terms of revenue in 2022. However, the orthopedic surgery segment is anticipated to grow at the fastest CAGR during the forecast period. 

• On the basis of modality, the electromyography (EMG) segment dominated the market in terms of revenue in 2022. However, the brainstem auditory evoked potential (BAEPs) segment is anticipated to grow at the fastest CAGR during the forecast period. 

• On the basis of end user, the hospitals segment dominated the market in terms of revenue in 2022. However, the ambulatory surgical centers (ASCs) segment is anticipated to grow at the fastest CAGR during the forecast period.  

• Region wise, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period.