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NORTH AMERICA IONM MARKET SIZE WILL REACH USD 2.1 BILLION BY 2023, GROWING AT A CAGR OF AROUND 8% DURING 2016-2022
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NORTH AMERICA IONM MARKET
| REPORT ATTRIBUTE | DETAILS |
|---|---|
| Market Size (Revenue) | USD 2.1 BILLION (2022) |
| CAGR | 8% (2016-2022) |
| Base Year | 2016 |
| Forecast Year | 2022 |
| Market Segments | By Pet Source Types (In-sourced and Outsourced), By Methodology Types (Evoked Potential (EP), Electromyography (EMG), and Electroencephalography (EEG)), By Application Types (Neurosurgery, Orthopedic surgery, ENT surgery, and Cardiovascular surgery) |
| Geographic Analysis | North America |
| Countries Covered | US and Canada |
INDUSTRY INSIGHTS
Intraoperative neuromonitoring (IONM) involves the application of a wide variety of electrophysiological methods to examine the functional aspect of the nervous system during surgical procedures. The primary purpose of these neuromonitoring devices is to limit the incidence of iatrogenic and randomly induced neurological injuries to patients during surgical procedures.
The IONM market in North America is expected to cross $2.1 billion, growing at a CAGR more than 8% during the period 2016–2022. The out-sourced intraoperative neuromonitoring market will dominate the IONM market in North America. The number of establishments providing outsourced intraoperative neuromonitoring has also increased considerably in recent years in the US. Thus, opportunities witnessed by the IONM market in US are highly lucrative.
The report provides a holistic view of the IONM market in North America, the companies involved in the market, and the factors driving its growth. It also provides information on some of the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the market.
NORTH AMERICA IONM MARKET: KEY VENDOR ANALYSIS
IONM equipment manufacturers dominate the market
Although the IONM market in North America is dominated by the equipment manufacturers, the number of establishments manufacturing intraoperative neuromonitoring equipment is limited. Major vendors in the market are Cadwell Industries, SpecialtyCare, Natus, NuVasive, Medtronic, inomed Medizintechnik GmbH.
Other emerging vendors are Accurate Monitoring, , Computational Diagnostics, Bromedicon Neuromonitoring, Clinical Neurodiagnostics, CNS Neuromonitoring, Dr. Langer Medical GmbH, IntraNerve, Medsurant Health, Neuro Alert, Neuromonitoring Technology (NMT) and Nihon Kohden Corp.
NORTH AMERICA IONM MARKET: DYNAMICS
Increase in demand for out-sourced intraoperative neuromonitoring to drive the market growth
Increase in aging population and chronic diseases, sizeable increase in surgical procedures, considerable increase in hospitals recommending intraoperative neuromonitoring for varied surgeries are the factors that are going to enhance the market growth. Increased demand for remote neuromonitoring, advent of portable and multi-modality devices, integration of MI surgeries with intraoperative neuromonitoring devices are the latest trends that are going to shape the market during the forecast period.
NORTH AMERICA IONM MARKET: SEGMENTAL OVERVIEW
Neurosurgery segment is going to dominate the market during the forecast period
The in-sourced market is forecasted to increase at a minimal pace in the foreseeable future as it is being replaced by out-sourced services. The out-sourced intraoperative neuromonitoring services market in North America accounted for 45.10% in 2016. It is anticipated to grow at a rapid CAGR of 14.00% during 2016–2022. The out-sourced services market will dominate the IONM market in this region by the end of 2022.
In terms of modality, the growth rate of these EEG and EMG modality types are anticipated to be almost equal during 2016–2022. The primary driver for all intraoperative neuromonitoring modalities is increased in their utilization rate across varied surgical interventions. In terms of the growth rate, orthopedic surgeries are likely to grow at a higher CAGR than other surgical types. However, neurosurgery will remain the major revenue contributor during the forecast period in the application segment.
NORTH AMERICA IONM MARKET: COUNTRY ANALYSIS
The market for IONM in Canada is anticipated to experience a notable surge
The primary factor for the high share of North America in the global intraoperative neuromonitoring market is the existence of the favorable and constantly improving reimbursement scenario in the region. The penetration of intraoperative neuromonitoring devices is significantly higher in the US than other developed or developing countries. Their demand in this region is also rapidly growing increased in rate of utilization of intraoperative neuromonitoring for varied surgeries and due to increase in demand for out-sourced services. A high adoption of tele-health services, including remote neuromonitoring, is likely to be one of the key growth influencers for IONM market in Canada.
The North America IONM market research report includes in-depth coverage of the industry analysis with revenue and forecast insights for the following segments:
Source Types
- In-sourced
- Outsourced
Methodology Types
- Evoked Potential (EP)
- Electromyography (EMG)
- Electroencephalography (EEG)
Application Types
- Neurosurgery
- Orthopedic surgery
- ENT surgery
- Cardiovascular surgery
Major Countries
- US
- Canada
SNAPSHOT
Cadwell Industries, SpecialtyCare, Natus, NuVasive , Medtronic , inomed Medizintechnik GmbH are going to lead the IONM market in North America. The IONM market in North America will cross $ 2.1 billion by 2022, growing at a impressible CAGR of 8.14% during the forecast period 2016 – 2022. The US accounted for the largest share of the global IONM market in 2016, and it is expected to rise at a slightly higher growth rate than the North American average during the forecast period.
IONM Market in North America Segmentation by Application
Report Timeline
- Base Year: 2016
- Forecast Year: 2017–2022
Major vendors profiled in the report are as following:
- Cadwell Industries
- SpecialtyCare
- Natus
- NuVasive
- Medtronic
- inomed Medizintechnik GmbH
Other emerging vendors are Accurate Monitoring, Computational Diagnostics, Bromedicon Neuromonitoring, Clinical Neurodiagnostics, CNS Neuromonitoring, Dr. Langer Medical GmbH, IntraNerve, Medsurant Health, Neuro Alert, Neuromonitoring Technology (NMT), Nihon Kohden Corporation.
Scope of the Report
The study considers the present scenario of the North America IONM Market and its market dynamics for the period 2016−2022. The study covers a detailed overview of various market growth enablers, restraints, and trends. It covers both the demand and supply sides of the market. The study also profiles and analysis the leading five companies and 15 other prominent companies operating in the market.
Segmental revenues were calculated through the bottom approach, which involves the analysis of segment-wise financials of key players in the market.
The report provides the analysis of the key segments of the market by source types, methodology type, application type, key countries, and vendors. It provides a detailed analysis of revenue from various segments:
Source Types
- In-sourced
- Outsourced
Methodology Types
- Evoked Potential (EP)
- Electromyography (EMG)
- Electroencephalography (EEG)
Application Types
- Neurosurgery
- Orthopedic surgery
- ENT surgery
- Cardiovascular surgery
Major Countries
- US
- Canada
Frequently Asked Questions
What is the North America IONM market size and growth forecast?
What are the factors impacting the growth of the North America IONM market?
Who are the key players in the North America IONM market?
Which segment is contributing to the North America IONM market growth?
List of Exhibits
Exhibit 1 Segmentation of IONM Market in North America
Exhibit 2 Market Size Calculation Approach 2016
Exhibit 3 Schematic Representation of Neurotransmission
Exhibit 4 Mechanism of IONM
Exhibit 5 Common IONM Modalities
Exhibit 6 Evolution of IONM
Exhibit 7 Standard Steps Followed in IONM
Exhibit 8 Key Advantages of IONM
Exhibit 9 Projection of Aging Population in US (in million)
Exhibit 10 Projection of Canada’s Aging Population (in million)
Exhibit 11 Common Chronic Conditions in 65+ Population in US
Exhibit 12 Increase in Volume of Hip Replacements in US and Canada
Exhibit 13 Number of Hospitals Utilizing IONM in the US 2008 and 2012
Exhibit 14 Varied Surgeries Specialties Utilizing IONM Techniques
Exhibit 15 Snapshot of Out-sourced IONM Over In-sourced IONM
Exhibit 16 CNIM Certifications Per Year in the US 2001–2006
Exhibit 17 Additional Costs of IONM Utilized MIS-TLIF Surgery
Exhibit 18 Demand for Remote IONM in US
Exhibit 19 List of Key Portable and Multi-Modal IONM Devices
Exhibit 20 Factors Contributing to Increased Demand for IONM in North America
Exhibit 21 IONM Market in North America ($ million)
Exhibit 22 Five Forces Analysis 2016
Exhibit 23 IONM Market in North America by Source Type
Exhibit 24 Percentage Share of In-sourced and Out-sourced IONM
Exhibit 25 IONM Market in North America by Source Type ($ million)
Exhibit 26 Key Beneficial Aspects and Drawbacks of In-sourced IONM
Exhibit 27 In-sourced IONM Market in North America: Size and Forecast ($ million)
Exhibit 28 End-users of Out-Sourced IONM Service Providers
Exhibit 29 Key Benefits of Outsourced IONM Services
Exhibit 30 Out-sourced IONM Market in North America: Size and Forecast ($ million)
Exhibit 31 North America IONM Market by Modality
Exhibit 32 Percentage Share of EP, EMG, and EEG
Exhibit 33 North America IONM Market Lucrativeness by Modality 2022
Exhibit 34 IONM Market in North America by Modality ($ million)
Exhibit 35 Comparison of Growth Rates for EP, EMG, and EEG
Exhibit 36 Types of Evoked Potentials Used as IONM Modalities
Exhibit 37 Evoked Potential Market in North America: Size and Forecast ($ million)
Exhibit 38 Common MEP Indicated Surgeries
Exhibit 39 Common VEP Indicated Surgeries
Exhibit 40 Common BAEP Indicated Surgeries
Exhibit 41 Snapshot of Basic EMG Techniques
Exhibit 42 Key EMG Indicated Surgeries
Exhibit 43 EMG Market in North America: Size and Forecast ($ million)
Exhibit 44 Key EEG Indicated Surgeries
Exhibit 45 EEG Market in North America: Size and Forecast ($ million)
Exhibit 46 IONM Market in North America by Application
Exhibit 47 Percentage Share of Surgical Specialties
Exhibit 48 IONM Market North America Lucrativeness by Application 2022
Exhibit 49 Incidence of Brain and Nervous System Tumors in US and Canada 2012–2025
Exhibit 50 Increase in IONM Utilization Rates for Depression and Simple Fusion in US
Exhibit 51 Common IONM Procedures Recommended for Specific Neural Procedures
Exhibit 52 IONM Market in North America: Size for Neural Surgeries ($ million)
Exhibit 53 Surgical Volume of Common Orthopedic Surgeries in US (in’000)
Exhibit 54 Surgical Volume of Common Orthopedic Surgeries in Canada
Exhibit 55 Common IONM Procedures Recommended for Specific Orthopedic Procedures
Exhibit 56 IONM Market in North America: Size for Orthopedic Surgeries ($ million)
Exhibit 57 Incidence of Thyroid Cancer in US and Canada
Exhibit 58 Common IONM Procedures Recommended for ENT- Specific Procedures
Exhibit 59 IONM Market in North America: Size for ENT Surgeries ($ million)
Exhibit 60 Decrease in Volume of PTCA Surgeries in US 2006–2014
Exhibit 61 North America IONM Market Size for Cardiovascular Surgeries ($ million)
Exhibit 62 IONM Market in North America By Country 2016
Exhibit 63 Market Revenue Growth Rates Comparison by Country 2017–2022
Exhibit 64 IONM Market in North America Lucrativeness by Country 2022
Exhibit 65 Volume of Common In-patient Surgical Procedures in US (in '000s)
Exhibit 66 IONM Market in US ($ million)
Exhibit 67 Key IONM Market Dynamics in US
Exhibit 68 IONM Market in Canada 2016–2022 ($ million)
Exhibit 69 Key IONM Market Dynamics in Canada
Exhibit 70 Snapshot of IONM Competitive Scenario
List of Tables
Table 1 Key Caveats
Table 2 Currency Conversion 2013−2016
Table 3 Federally Funded Key Health Insurance Programs in US
Table 4 IONM Related Primary CPT Codes (2017)
Table 5 IONM Add-on Reimbursement Codes Description, 2017
Table 6 IONM Add-on Reimbursement Codes, Key Considerations
Table 7 Key Features of Advanced IONM Equipment
Table 8 YOY Impact of Market Enablers
Table 9 Complications/Limitations of Selected IONM Modalities
Table 10 YOY Impact of Market Restraints 2016–2022
Table 11 Key Mergers and Acquisitions in IONM Market
Table 12 YOY Impact of Trends and Opportunities
Table 13 IONM Market in North America by Source-Type, 2016 – 2022 ($ million)
Table 14 IONM Market in North America by Modality, 2016 – 2022 ($ million)
Table 15 Key Surgeries Monitored through SSEP
Table 16 IONM Market in North America by Application, 2016 – 2022 ($ million)
Table 17 Key Hospitals Offering IONM in Canada
Table 18 Natus Medical, IONM Product Portfolio 2017
Table 19 Medtronic IONM Product Portfolio
Table 20 inomed's IONM product portfolio 2017
Table 21 Qualitative Summary of IONM Market in North America
Table 22 Quantitative Summary of IONM Market in North America by Country ($ million)
Table 23 Quantitative Summary of IONM Market in North America by Source Type ($ million)
Table 24 Quantitative Summary of IONM Market in North America by Modality ($ million)
Table 25 Quantitative Summary of IONM Market in North American by Application ($ million)
1 Research Methodology
2 Research objectives
3 Research Process
4 Report Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of Study
4.3.1 Market Segmentation by Source Type
4.3.2 Market Segmentation by Methodology
4.3.3 Market Segmentation by Application
4.3.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1.1 Inclusions
5.1.2 Exclusions
5.2 Currency Conversion rate
5.3 Market Derivation
6 Market at a Glance
7 Introduction
7.1 Overview Of Nervous System and Neurophysiology
7.2 Introduction to IONM
7.3 Evolution of IONM
7.4 Standard Steps in IONM
7.4.1 Pre-operative Preparation
7.4.2 Baseline IONM Recording
7.4.3 Perioperative IONM Recording
7.4.4 IONM Documentation
7.4.5 Interpretive Report Preparation
7.5 Key Advantages of IONM
8 Reimbursement Scenario
8.1 Reimbursement Scenario in US
8.1.1 Overview of IONM Reimbursement
8.2 Reimbursement Scenario in Canada
8.2.1 Overview of IONM Reimbursement
9 Market Dynamics
9.1 Market Growth Enablers
9.1.1 Increase in Aging Population and Chronic Diseases
9.1.2 Sizeable Increase in Surgical Procedures
9.1.3 Considerable Increase in Hospitals Recommending IONM for Varied Surgeries
9.1.4 Advent of Technologically Advanced IONM Equipment
9.1.5 Increase in Demand for Out-sourced IONM
9.1.6 YOY Impact of Market Enablers
9.2 Market Growth Restraint
9.2.1 Dearth of Skilled IONM Professionals
9.2.2 Lack of Stringent Regulations
9.2.3 High Cost of IONM Utilized Surgeries
9.2.4 Limitations and Complications Associated with IONM
9.2.5 YOY Impact of Market Restraints
9.3 Market Opportunities & Trends
9.3.1 Increased Demand for Remote Neuromonitoring
9.3.2 Advent of Portable and Multi-modality IONM Devices
9.3.3 Increase in Strategic Consolidation
9.3.4 Integration of MI Surgeries with IONM
9.3.5 YOY Impact of Trends and Opportunities
10 Neuromonitoring Market In North America
10.1 Market Overview
10.2 Market Size & Forecast
11 Porter’s Five Forces Analysis
11.1 Threat of New Entrants
11.2 Bargaining Power of Suppliers
11.3 Bargaining Power of Buyers
11.4 Threat of Substitutes
11.5 Competitive Rivalry
12 IONM Market In North America - By Source Type
12.1 Market Overview
12.2 In-Sourced IONM
12.2.1 Market Size & Forecast
12.3 Outsourced IONM
12.3.1 Market Size & Forecast
13 IONM Market in North America by Modality
13.1 Segment Overview
13.2 Evoked Potential
13.2.1 Market Size & Forecast
13.3 Detailed Description of EP Types
13.3.1 Somatosensory Evoked Potentials (SSEP)
13.3.2 Motor Evoked Potentials (MEP)
13.3.3 Visual Evoked Potential
13.3.4 Brainstem Auditory Evoked Potential (BAEPs)
13.4 Electromyography (EMG)
13.4.1 Market Size & Forecast
13.4.2 Free-running EMG
13.4.3 Stimulated EMG
13.5 Electroencephalogram (EEG) Market
14 IONM Market in North America By Application
14.1 Segment Overview
14.2 Neural Surgeries
14.2.1 Market Size & Forecast
14.3 ORthopedic Surgeries
14.4 ENT Surgeries
14.5 CARDIOVasular Surgeries
15 IONM Market in North America By Country
15.1 Segment Overview
15.2 US
15.2.1 Market Size & Forecast
15.3 Leading Trends, Enablers, and Restraints
15.4 Canada
15.4.1 Market Size & Forecast
15.5 Leading Trends, Enablers, and Restraints
16 Competitive Landscape
16.1 market overview
17 Key Company Profiles
17.1 Cadwell Industries INC.
17.1.1 Strength Assessment
17.1.2 Strategy Assessment
17.1.3 Opportunity Assessment
17.2 SpecialtyCare
17.2.1 Key Highlights
17.2.2 Strength Assessment
17.2.3 Strategy Assessment
17.2.4 Opportunity Assessment
17.3 Natus Medical Incorporated (Natus)
17.3.1 Key Highlights
17.3.2 Strength Assessment
17.3.3 Strategy Assessment
17.3.4 Opportunity Assessment
17.4 NuVasive Inc.
17.4.1 Key Highlights
17.4.2 Strength Assessment
17.4.3 Strategy Assessment
17.4.4 Opportunity Assessment
17.5 Medtronic plc
17.5.1 Key Highlights
17.5.2 Strength Assessment
17.5.3 Strategy Assessment
17.5.4 Opportunity Assessment
17.6 inomed Medizintechnik GmbH
17.6.1 Key Highlights
17.6.2 Strength Assessment
17.6.3 Opportunity Assessment
17.6.4 Strategy Assessment
18 Other Prominent Companies
18.1 Accurate Monitoring LLC
18.1.1 Strength Assessment
18.1.2 Strategy Assessment
18.1.3 Opportunity Assessment
18.2 Computational Diagnostics iNC. (CDI)
18.2.1 Strength Assessment
18.2.2 Strategy Assessment
18.2.3 Opportunity Assessment
18.3 Bromedicon Neuromonitoring LLC
18.3.1 Strength Assessment
18.3.2 Strategy Assessment
18.3.3 Opportunity Assessment
18.4 Clinical Neurodiagnostics LLC
18.4.1 Strength Assessment
18.4.2 Strategy Assessment
18.4.3 Opportunity Assessment
18.5 CNS Neuromonitoring
18.5.1 Strength Assessment
18.5.2 Strategy Assessment
18.5.3 Opportunity Assessment
18.6 Dr. Langer Medical GmBH
18.6.1 Strength Assessment
18.6.2 Strategy Assessment
18.6.3 Opportunity Assessment
18.7 IntraNerve LLC
18.7.1 Strength Assessment
18.7.2 Strategy Assessment
18.7.3 Opportunity Assessment
18.8 MEDSURANT HEALTH LLC
18.8.1 Strength Assessment
18.8.2 Strategy Assessment
18.8.3 Opportunity Assessment
18.9 Neuro Alert
18.9.1 Strength Assessment
18.9.2 Strategy Assessment
18.9.3 Opportunity Assessment
18.10 Neuromonitoring Technologies (NMT) INC
18.10.1 Strength Assessment
18.10.2 Strategy Assessment
18.10.3 Opportunity Assessment
18.11 Nihon Kohden CORP.
18.11.1 Strength Assessment
18.11.2 Strategy Assessment
18.11.3 Opportunity Assessment
19 Report Summary
19.1 Key Takeaways
19.2 Qualitative Summary of IONM Market in North Amemrica
19.3 Quantitative Summary of IONM Market in North America 2016–2022
20 Appendix
20.1 List of Abbreviations
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Frequently Asked Questions
What is the North America IONM market size and growth forecast?
What are the factors impacting the growth of the North America IONM market?
Who are the key players in the North America IONM market?
Which segment is contributing to the North America IONM market growth?
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