Global Nerve Monitoring Devices Market To Generate a Revenue Of $1.78B By 2028

According to the report, the global Nerve Monitoring Devices market size was valued at approximately USD 1.32 billion in 2021 and is predicted to reach around USD 1.78 billion by the end of 2028, expanding at a CAGR of around 4.31% from 2022 to 2028.

Nerve monitoring devices are medical equipment used for the protection of patients during surgical operations. These devices continuously monitor the central nervous system of patients including the spinal cord, the brain, or nerves when the patient is getting operated on. Surgeons use nerve monitoring devices in identifying, confirming, and checking nerve functions in order to avoid nerve damage during high-risk or general surgeries.

The global nerve monitoring devices market is an extremely significant market in the healthcare sector since these devices are amongst the most commonly used medical equipment in small to large, or multi-specialty to super-specialty hospitals.

Covid-19 had a positive impact on the global market owing to the increased demand for nerve monitoring systems because of the exponential rise of Covid-19 patients, especially during the second wave across the globe which was more intense and led to billions of critically ill patients. Even though Covid-19 is showing signs of being under control, the demand for nerve monitoring devices is increasing and the global market is expected to register a significant CAGR during the forecast period.

There has been a significant rise in the number of patients requiring either general or critical surgery, thus increasing the demand for nerve monitoring devices. The world is witnessing a rise in the number of healthcare facilities operating to meet the growing demand for patient care. Along with this, increasing contribution by key market players, donations in healthcare, and increased public funding to provide better medical services around the world are expected to assist in the global nerve monitoring devices market growth. There is a growing trend of extensive R&D and development in the nerve monitoring devices field to cater to the different operational needs of patients and this trend is anticipated to aid the global market growth.

In emerging or underdeveloped countries, there is a lack of skilled professionals who can operate the device in an efficient manner. Thus, this can be a limiting factor for market growth. However, an increase in outsourcing of the devices to provide affordable solutions is expected to provide growth opportunities in the global nerve monitoring devices market during the forecast period but the high cost of the device may pose a major challenge for the global market.

The global nerve monitoring devices market is divided based on technology, product, application, end-user, and region. Based on the technology, the global market is characterized by evoked potential, electrocorticography, electroencephalography, and electromyography. The product segment is split into ancillary products, electrodes, and monitors. The application segment consists of cardiovascular, ENT surgery, spine surgery, neurosurgery, and others. By end-user, the market is classified into ambulatory surgical centers and hospitals & surgical centers.

North America is anticipated to generate the highest revenue in the global nerve monitoring devices market during the forecast period owing to its advanced healthcare structure. The rising number of operations conducted in this region along with the high standard of living of the population who can afford to undergo surgical operations is expected to assist the regional market growth. The region is also witnessing a high rate of approval by the US. FDA for nerve monitoring devices which will aid the regional market growth. Europe is expected to register a significant CAGR during the forecast period because of increased government spending on medical facilities and the constant up-gradation of medical infrastructure. Asia-Pacific is showing signs of steady regional growth owing to increased medical tourism in South Asian countries.

The major players operating in the global nerve monitoring devices market include Langer Medical GmbH, Deymed diagnostic Inc., Checkpoint Surgical, Brainsway, Bovie Medical Corporation, Natus Medical Inc., Medtronic, Magstim, Neurosign, and EMS Biomedical.

Recent Development:

• In October 2020, Medtronic plc, the major leader in medical technology, received FDA 510(k) clearance for the NIM Vital™ nerve monitoring system, which allows doctors to identify, verify, and evaluate nerve function to aid decrease the risk of nerve injury throughout head and neck surgery. The company's ENT portfolio has been significantly expanded with the latest acquisition of privately held Ai Biomed Corp.

Browse the full “Nerve Monitoring Devices Market By Technology (Evoked Potential, Electrocorticography, Electroencephalography, And Electromyography), By Product (Ancillary Products, Electrodes, And Monitors), By Application (Cardiovascular, ENT Surgery, Spine Surgery, Neurosurgery, And Others), By End-User (Ambulatory Surgical Centers And Hospitals & Surgical Centers), And By Region – Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data And Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/nerve-monitoring-systems-market

Global nerve monitoring devices market is segmented as follows:

By Technology

• Evoked Potential
• Electrocorticography
• Electroencephalography
• Electromyography

By Product

• Ancillary Products
• Electrodes
• Monitors

By Application

• Cardiovascular
• ENT Surgery
• Spine Surgery
• Neurosurgery
• Others

By End User

• Ambulatory Surgical Centers
• Hospitals & Surgical Centers

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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