Global Neuromonitoring Devices Market Predicted to Exceed $10,276.0 Million, Growing at 7.24% CAGR from 2022 to 2030 [210-Pages] | Research Dive
Rising advancements neuromonitoring devices by medical device makers is fueling the global neuromonitoring devices market growth. The COVID-19 pandemic has negatively impacted the market. The North America market is likely to dominate the market.
NEW YORK, June 24, 2022 /PRNewswire/ -- Research Dive has added a new report to its offerings titled, "Neuromonitoring Devices Market by Product (Intracranial Pressure Monitoring, Cerebral Oximeter, Near Infrared Spectroscopy, Speckle Imaging, Doppler Ultrasound, EEG, Fetal/Neonatal Neuromonitoring Devices, Micro Ultrasound, and Others) and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022-2030."
The global neuromonitoring devices market is expected to garner $10,276.0 million by 2030, growing at a CAGR of 7.24% from 2022 to 2030. The report delivers comprehensive insights into the current condition and future prospective of the industry by meticulously examining market drivers and restraints, opportunities, major segments, and regions.
Key Segment Findings of the Neuromonitoring Devices Market
The market is segmented based on product and region.
- The doppler ultrasound sub-segment of the product segment is anticipated to hold highest share of the market and surpass $3,153.5 million in the estimated period. This growth is mainly because of the rising cases of neurological disorders amongst people, especially in geriatric population and growing demand for doppler ultrasound due to its efficiency in observing the blood flow through arteries and veins of the patient's body.
- Among region, the North America neuromonitoring devices market is projected to observe accelerated growth and garner $3,534.9 million in the estimated period. The growth of this region market is mostly owing to the growing cases of neurological disorders and rising developments into the neuromonitoring devices' technology by market players in this region.
Neuromonitoring Devices Market Dynamics
The key factor fueling the growth of the global neuromonitoring devices market is a significant rise in the neurological disorders like dementia and epilepsy in people, mostly in old-age population, worldwide. In addition, increasing developments and novel product launches by neuromonitoring device manufacturers is expected to open doors to innovative opportunities for the market growth in the projected period. However, huge costs involved in the treatments that include neuromonitoring devices is projected to hinder the market growth during the forecast period.
Impact of the COVID-19 Pandemic on the Neuromonitoring Devices Market:
The outbreak of the COVID-19 pandemic in 2020 has made an adverse impact on the growth of the global neuromonitoring devices market. During the pandemic period, the healthcare sector has observed numerous challenges. Many patients with neurological complaints have postponed their surgeries due to the unavailability of adequate medical facilities and fear of acquiring the deadly COVID-19 virus during hospital visits and treatments. As a result, the demand for neuromonitoring devices has greatly deteriorated, which hindered the market growth during the pandemic period.
Top Players of the Neuromonitoring Devices Market
The major players of the global neuromonitoring devices market are
- NuVasive, Inc.
- GE Healthcare
- Koninklijke Philips N.V.
- RIMED Ltd.
- Medtronic Plc
- Nihon Kohden Corporation
- Natus Medical Incorporated.
- Intranerve Neuroscience Holdings
- Llc
- Specialtycare
- Advanced Brain Monitoring, Inc.
Numerous business strategies, such as acquisitions, mergers, R&D activities, new product developments, and much more, are implemented by these players to attain a strong position in the global market. For instance, in May 2021, WISE Srl, a medical device firm manufacturing advanced implantable electrodes for neuromonitoring, neuromodulation and brain-machine interfacing (BMI), announced that it's WISE Cortical Strip (WCS), a single use medical equipment which can be used on the brain's surface for intraoperative neurophysiological monitoring (IONM), has obtained CE marking.
Moreover, the report offers other key details of leading players such as business tactics, financial performance, and product/service range of these players along with Porter's five forces analysis and SWOT analysis. Grab the Full Report here - $2999(Read-Only)
More about Neuromonitoring Devices Market:
- Top 3 Intraoperative Neuromonitoring Devices Available in the Market Today
- Global Neuromonitoring Devices Market Expected to See Prominent Growth due to the Increasing Demand for Neuromonitoring Devices for Rising Neurological Diseases by 2030
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