North America to be the largest IONM market worldwide.
Almost all the key IONM manufacturers including Codwell, Computational Diagnostics, inomed, Natus Medical Incorporated, NuVasive, Medtronic have presence in this region.
Intraoperating Neuromonitoring (IONM) Market – Global Outlook and Forecast 2017-2022, is a latest report published by Arizton, which provides an in-depth analysis of the global introperative neuromonitoring market commonly known as IONM market. The 145-pager report outlines the major factors that are going to change the market landscape during 2016-2022. The analysis of the IONM market includes the market size and forecast of various verticals of the global market such as the intraoperative neuromonitoring market by source type, application type, modality, geography and major players.
“North America region is going to have the largest market share globally and the market will cross $1.2 billion during the forecast period”, say the analysts at Arizton Advisory & Intelligence.
IONM Market in North America
North America accounted for largest share of the global IONM market in 2016. The US occupies more than 90% of the IONM market in North America due to high population density and comparably high utilization of IONM in comparison to Canada.
The primary factor for the high share of North America in the global IONM market is existence of a favorable and constantly improving reimbursement scenario in the region. Allocation of clearly defined codes for each intraoperative neuromonitoring procedure helps in making the procedure easy for the patients and insurance companies. In addition, well-defined guidelines help in implementing neuromonitoring during procedures resulting in better outcomes, thereby benefitting both the patients and hospitals resulting in high uptake of the intraoperative neuromonitoring services.
The IONM market is rapidly shifting towards out-sourced services in these regions. Demand for tele-health services including remote neuromonitoring is one of the core reasons for high utilization of IONM. In addition to this, public initiatives for improvements in medical especially surgical services, substantial reimbursement, increase in uptake of advanced multi-modality IONM devices have increased the scope of utilization of intraoperative neuromonitoring in North America.
IONM Market in US
The US accounts for the largest share of the global intraoperative neuromonitoring market and is expected to rise at a slightly higher growth rate than the global average during the forecast period.
Adaption of advanced surgical technologies such as gamma knife surgical treatments, minimally invasive surgery or endoscopic surgery, robotic surgeries have increased the scope of various surgical specialties. Increase in number of surgical procedures has also contributed to the market growth in the US.
IONM Market in Canada
Canada accounted for less than 10% of the IONM market in North America and is expected to rise at a slightly higher growth rate than the global average during the forecast period.
The market for intraoperative neuromonitoring market in Canada is anticipated to experience a notable surge over the forecast period. Most global key players in IONM market have its presence in this region. High adoption of tele-health services including remote neuromonitoring will be one of the key growth influencer for IONM market in this region.
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