The US intraoperative neuromonitoring market has been forecast to increase at a compound annual growth rate (CAGR) of 7.98% through to 2016, driven by the huge patient population with various neurological disorders and the trend of increasing mergers and acquisitions.
Intraoperative neuromonitoring is the use of electrophysiological methods such as electroencephalography (EEG), electromyography (EMG), and evoked potentials to monitor the functional integrity of certain neural structures (e.g., nerves, spinal cord and parts of the brain) during surgery.
The purpose of intraoperative neuromonitoring is to reduce the risk to the patient of iatrogenic damage to the nervous system, and/or to provide functional guidance to the surgeon and anaesthesiologist.
Intraoperative neurophysiological monitoring has been recognised as a standard of care for a wide array of surgical procedures. It is estimated that over 750,000 surgical procedures a year are monitored - the vast majority of which are monitored remotely. With a small number of medical professionals (fewer than 500 nationwide) engaged in monitoring on a full- or part-time basis, remote monitoring facilitates broad access to this service.
One of the major drivers is the increase in the number of patients suffering from various neurological disorders. In the US, the number of people suffering from neuro disorders is increasing.
This is because of several factors such as increase in the aging population and increase in the incidence of diseases such as hypertension, high blood pressure, and high blood cholesterol or triglyceride levels.
Vendors are adopting merger and acquisition activities to increase their global presence and expand their product portfolio, as well as to achieve economies of scale in the manufacturing of products. This also helps vendors focus more on product innovations and increase their profit margins by collaborating with each other.
For instance, in October 2011, NuVasive acquired Impulse Monitoring, a provider of intraoperative monitoring services. Hence, mergers and acquisitions help companies expand their global customer base and their portfolio of products, solutions, and services.
Key players currently operating in the US intraoperative monitoring market include Nuvasive Inc., BiotronicNeuroNetwork, Sentient Medical Systems, and SpecialityCare Inc.
For more information on the US intraoperative monitoring market, see the latest research: US Intraoperative Monitoring Market
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