A recent report published by Infinium Global Research on nerve monitoring system market provides an in-depth analysis of segments and sub-segments in the global as well as regional nerve monitoring system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional nerve monitoring system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global nerve monitoring system market. According to the report, the global nerve monitoring system market is projected to grow at a CAGR of 6.7% over the forecast period of 2018-2024.
Nerve monitoring systems assist surgeons to identify, monitor, and confirm nerve function during surgical procedures. The surgeons rely on nerve monitoring systems for real-time accurate information on the location and function of nerves. The main advantage of the nerve monitoring system is that they reduce the risk of potential damage to the nerves. At the time of general and ENT surgeries, these devices are most commonly used. Moreover, this system helps to monitor and identify brain disorders such as irretrievable nerve damage, spinal cord, & external nerve breakdown. During surgery, the chances of nerve damage can be high to avoid this situation it is necessary to use the nerve-monitoring system. Neurophysiologist can keep a record of the proper functioning of nerve with the help of this system.
Growth in a number of surgeries, increasing geriatric population, and use of nerve monitoring devices at the time of complex and critical surgeries are major factors driving factors for the growth of the nerve monitoring system market. The old age populations are more inclined towards nervous diseases that are more likely to promote nerve monitoring system market. As per an estimation, 13.8 million neurosurgical cases develop each year. This results in an increasing demand for the nerve monitoring system. Further, the increase in brain injuries and growth in consciousness regarding neurodegenerative disorders among populations are boosting factors for this market. Additionally, increasing occurrences of injuries that require surgical treatment such as neuropathies and spinal cord injuries are supporting the growth of the nerve monitoring system market. Besides, growing healthcare infrastructure in emerging countries and growing R&D investments are generating future opportunities for this market. On the other side, less adoption of nerve monitoring devices across emerging markets is hampering the growth of the nerve monitoring system market.
As per the geographies, North America region is leading the nerve monitoring system market followed by Europe and Asia-Pacific region. In North America, growing demand for neural surgeries and the high aged population has helped in the enlargement of the nerve monitoring system market. Further, in Europe region factors such as technological advancement and the existence of adequate reimbursement schemes are boosting the market growth. Moreover, in Asia-Pacific region-increasing spending on health care infrastructure through developing countries such as India, China & Japan, and availability of advanced medical trials are fueling the demand for nerve monitoring market.
The report on global nerve monitoring system market covers segments such as technology, product, application, and end-user. On the basis of technology, the sub-markets include electromyography (EMG), electrocorticography (ECOG), electroencephalography (EEG), and evoked potential (EP). On the basis of product, the sub-markets include nerve monitors, electrode & probes, and accessories. On the basis of application, the sub-markets include neurosurgery, cardiovascular applications, ENT surgery, and spine surgery. On the basis of end-user, the sub-markets include hospitals and surgical centers, ambulatory surgical centers, and others.
The report provides profiles of the companies in the market such as Medtronic, Bovie Medical Corporation, Neurovision Medical Products™, NuVasive®, Inc, Nihon Kohden Corporation, Magstim, Erbe Medical India Pvt Ltd, Checkpoint Surgical, Inc., Natus Medical Incorporated, AXON Communications Inc, and Dr. Langer Medical GmbH.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of nerve monitoring system market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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