Nerve Monitoring Systems Market Expansion 2024-2033: Growth Drivers and Dynamics

The nerve monitoring systems global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.

Nerve Monitoring Systems Market, 2024The nerve monitoring systems global market report 2024

Market Size –

The nerve monitoring systems market size has grown strongly in recent years. It will grow from $1.28 billion in 2023 to $1.37 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to advancements in surgical techniques, growing emphasis on patient safety, rise in minimally invasive surgeries, improvements in monitoring technology, and increasing demand for precision medicine.
The nerve monitoring systems market size is expected to see strong growth n the next few years. It will grow to $1.76 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to rising incidence of chronic diseases requiring complex surgeries, expanding elderly population with higher surgical needs, increased awareness of nerve injury risks, growing demand for real-time monitoring during surgery, and expansion of healthcare infrastructure. Major trends in the forecast period include integration of artificial intelligence and machine learning, development of wearable and portable nerve monitoring devices, advancements in wireless and remote monitoring technologies, focus on personalized medicine with customized nerve monitoring solutions, and adoption of integrated surgical platforms.

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Scope Of Nerve Monitoring Systems MarketThe Business Research Company’s reports encompass a wide range of information, including:

1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.

2. Drivers: Examination of the key factors propelling market growth.

3. Trends: Identification of emerging trends and patterns shaping the market landscape.

4. Key Segments: Breakdown of the market into its primary segments and their respective performance.

5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.

6. Macro Economic Factors: Assessment of broader economic elements impacting the market.

Nerve Monitoring Systems Market Overview

Market Drivers –

The increasing burden of neurological diseases is projected to drive the growth of the nerve monitoring system market moving forward. Neurological diseases encompass disorders that affect the brain, spinal cord, and nerves, leading to impaired movement, cognition, sensation, or autonomic function. The rise in neurological diseases can be attributed to an aging population, longer life expectancy, and increased exposure to risk factors such as environmental toxins, lifestyle changes, and stress. Nerve monitoring systems are critical in managing neurological diseases to prevent nerve damage during surgeries, ensuring the preservation of nerve function, and minimizing postoperative complications. For example, in March 2024, the World Health Organization (WHO), a Switzerland-based intergovernmental organization, reported that over 3 billion people globally were living with neurological conditions in 2021, making these diseases the leading cause of illness and disability worldwide. Moreover, in October 2021, the World Federation of Neurology, a UK-based association of national neurological societies, stated that over 40% of the global population currently experiences some form of neurological condition, with this burden expected to double by 2050. Therefore, the increasing prevalence of neurological diseases will drive the growth of the nerve monitoring system market through 2023, into 2024, and anticipated growth by 2028.

Market Trends –

Major companies in the nerve monitoring system market are focused on developing technologically advanced products, such as supersonic technology-integrated neuromonitoring devices, to offer high-resolution, real-time imaging of nerve structures, enhancing accuracy and safety during surgeries. Supersonic technology-integrated neuromonitoring devices use advanced ultrasonic imaging techniques to provide real-time, high-resolution monitoring of nerve structures and functions during surgical procedures. For instance, in December 2022, WISE, an Italy-based medical device company, announced the US Food and Drug Administration (FDA) approval for its WISE Cortical Strip (WCS) for Intraoperative Neurophysiological Monitoring (IONM). The WCS neuromonitoring device is intended for use during surgeries in conjunction with other medical equipment to record, monitor, and stimulate electrical signals from the brain’s surface. Unlike traditional cortical electrodes made from rigid metal discs, WCS incorporates stretchable platinum contacts embedded in a soft, thin silicone film, allowing it to conform seamlessly to the brain’s surface. These electrodes are produced with stretchable electronic circuits integrated into very thin elastomeric foils using supersonic technology.

The nerve monitoring systems market covered in this report is segmented –

1) By Product: Nerve Monitor, Electrodes, Probes, Accessories
2) By Technology: Electromyography (EMG), Electroencephalography (EEG), Electrocorticography (ECOG), Evoked Potential (EP)
3) By Application: Neurosurgery, Spine Surgery, ENT Surgery, Cardiovascular Applications, Other Applications
4) By End User: Hospitals, Ambulatory Surgical Centers, Other End Users

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Regional Insights –

North America was the largest region in the nerve monitoring systems market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the nerve monitoring systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Key Companies –

Major companies in the market are Medtronic Plc, Nihon Kohden Corporation, SpecialityCare Inc., NuVasive Inc., Halyard Health, Natus Medical Inc., Brainlab AG, Biotronic NeuroNetwork LLC, Cadwell Industries Inc., Bovie Medical, Magstim, Inomed Inc., Neuspera Medical Inc., Rhythmlink International LLC, Stimwave LLC, EMS Handels GmbH, Checkpoint Surgical Inc., Rochester Electro-Medical Inc., Sentient Healthcare Inc., Erbe Elektromedizin GmbH, NeuroWave Systems Inc., Langer Medical GmbH, Neurovision Medical Products Inc., ProPep Surgical LLC, SafeOp Surgical Inc.

Table of Contents
1. Executive Summary
2. Nerve Monitoring Systems Market Characteristics
3. Nerve Monitoring Systems Market Trends And Strategies
4. Nerve Monitoring Systems Market – Macro Economic Scenario
5. Global Nerve Monitoring Systems Market Size and Growth
…
32. Global Nerve Monitoring Systems Market Competitive Benchmarking
33. Global Nerve Monitoring Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Nerve Monitoring Systems Market
35. Nerve Monitoring Systems Market Future Outlook and Potential Analysis
36. Appendix

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