Nerve Monitoring System Market worth 1.45 Billion USD by 2022

The Global Nerve Monitoring System Market is projected to reach USD 1.45 Billion by 2022 from USD 1.14 Billion in 2017, at a CAGR of 4.9% during the forecast period.

(EMAILWIRE.COM, August 11, 2021 ) The global nerve monitoring system market has been segmented on the basis of product, technology, application, end user, and region. Based on product, the nerve stimulation electrodes and probes segment commanded the largest share of the global nerve monitoring system market in 2017.

This large market share is mainly attributed to factors such as increasing awareness of healthcare professionals about clinical benefits associated with nerve monitoring, increasing number of complex & critical surgeries worldwide, and ongoing technological advancements in the field of nerve stimulation & monitoring.

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The global nerve monitoring systems market is estimated to reach USD 1.45 billion by 2022; growing at a CAGR of 4.9% during the forecast period. The expansion in target patient population, growing availability of medical reimbursement for nerve monitoring procedures, and rising demand for surgical intervention among trauma cases across the globe are some key factors propelling the growth of nerve monitoring systems industry.

In 2016, North America held the largest share of the market and registers the highest growth rate during the forecast period. The growth of this North America market is attributed to the significant adoption of nerve monitoring owing to the growing number of clinical trials that have proved its therapeutic efficacy in surgeries and the availability of medical reimbursement in the US. Furthermore, the market growth is attributed to large patient population for target diseases, strong presence of device manufacturers in the region, and the availability of significant R&D investments to support nerve monitoring product development.

In 2016, Medtronic (Ireland) held the leading position in the market. Over the past three years, the company has focused on the R&D activities for the product innovation and increased its R&D expenditure for further growth in the industry. NuVasive (US), Nihon Kohden (Japan), Bovie Medical (US), Natus Medical (US), Checkpoint Surgical (US), Magstim (UK), Inomed (Germany), Erbe Elektromedizin (Germany), Dr. Langer Medical (Germany), EMS Handels (Austria), Neurovision Medical (US), and Halyard Health (Georgia), were few other key players operating in the market.

Target Audience:

# Nerve monitoring product manufacturers
# Nerve monitoring product suppliers and distributors
# Contract manufacturers
# Healthcare service providers [including hospitals, surgical centers, and ambulatory surgical centers (ASCs)]
# Research laboratories and academic institutes
# Clinical research organizations (CROs)
# Government regulatory authorities
# Independent associations and non-government organizations
# National and international regulatory authorities
# Market research firms

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