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Press Release: Intraoperative Monitoring Electrodes Market to Surpass US$ 756.7 Million by 2027
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Intraoperative monitoring electrodes offer useful, real-time ECG data during various mapping or monitoring procedures and are used to transfer energy of ionic currents into electrical current in the body. The currents passed into the body are amplified and used for diagnosis of various diseases. These electrodes are specifically used in neurological surgery to assess function of the somatosensory pathways during surgical procedures in which the spinal cord, brainstem or cerebrum is at risk of getting injured and to localize the sensorimotor cortex.
The global intraoperative monitoring electrodes market is estimated to be valued at US$ 469.3 million in 2020 and is expected to exhibit a CAGR of 7.1% during the forecast period (2020-2027).
Figure 1. Global Intraoperative Monitoring Electrodes Market Share (%) in Terms of Value, By Region, 2019
The increasing incidence of cardiovascular and neurological disorders is expected to drive demand for intraoperative monitoring electrodes for monitoring diseases.
The rising incidence of cardiovascular and neurological disorders is expected to drive growth of the global intraoperative monitoring electrodes market during the forecast period.
According to the American Heart Association, in 2016, stroke was the leading cause of death in the U.S. with around 2.7 million people in the country living with atrial fibrillation and around 800,000 suffering a stroke, annually, due to block or bursts in the blood vessel that supplies blood to the brain. Therefore, the increasing prevalence of atrial fibrillation is expected to boost growth of the global intraoperative monitoring electrodes market during the forecast period.
According to data published by the Alzheimer’s Association in 2017, around 5.5 million people in the U.S. suffer from Alzheimer’s disease.
Figure 2. Global Intraoperative Monitoring Electrodes Market Share (%), by Type of Electrode, 2020
The rising demand for minimally invasive procedures is expected to drive growth of the global intraoperative monitoring electrodes market during the forecast period.
Minimally invasive procedures are much less traumatic than conventional open surgeries. Traditional surgeries performed with conventional laparoscopic instruments can be traumatic and complex. Minimally invasive laparoscopic cameras are inserted through smaller incisions and specialized smaller instruments are used to perform the operation. The healing process is less painful and patients can recover faster after minimally invasive surgeries.
Minimally invasive surgical (MIS) instruments are transforming constantly due to innovations and advancements in cardiac, orthopedic, ophthalmic, neurological, and oral surgical procedures. Technological advancements provide higher-quality instruments that allow surgeons to perform surgical interventions efficiently without sacrificing patients' safety. The improved product designs provide a level of control and accuracy in the operating room.
Major advantages of minimal invasive surgeries include reduced healthcare cost, reduced recovery time, and lesser chance of hospital acquired infections. These factors are expected to drive the growth of the global intraoperative monitoring electrodes market during the forecast period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 469.3 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 7.1% | 2027 Value Projection: | US$ 756.7 Mn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
DIXI Medical, Ambu A/S, Blackrock Microsystems LLC, Digitimer Ltd., Cognionics, Inc., Rhythmlink International, LLC, Unimed Electrode Supplies, 3M Company, NuVasive, Inc., Computational Diagnostics, Inc., and Natus Medical Incorporated. |
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| Restraints & Challenges: |
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Global Intraoperative Monitoring Electrodes Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries around the globe with the World Health Organization declaring it a public health emergency. According to the World Health Organization’s report, the manifestation of coronavirus disease (COVID-19) has resulted in more than 28.2 million infected individuals worldwide as of September 11, 2020.
Supply chain and manufacturing activities in India, Italy, Spain, U.K. and the U.S. have been disrupted due to the lockdowns implemented by governments in the past few months, while countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of intraoperative monitoring electrodes. The coronavirus or COVID-19 outbreak that started from Wuhan, China, has spread across continents, affecting various industries globally. Supply of key materials has been severely disrupted due to forced quarantine and lack of labor and raw materials. As the link between regional warehouses is not smooth, the allocation of raw materials between regions cannot be carried out successfully; this shortage of raw material and components has affected the supply chain of the global intraoperative monitoring electrodes market.
Moreover, key players such as Ambu A/S are developing and commercializing single-use medical devices which play an important role in modern health care and help in flattening the curve of COVID-19 spread.
Global Intraoperative Monitoring Electrodes Market: Restraints
Risk of needle-stick injuries associated with use of sub-dermal needle electrodes during intraoperative monitoring is expected to limit adoption of intraoperative monitoring electrodes during the forecast period. For instance, according to data published in the Journal of Neurosurgical Anesthesiology in January 2014, certain measures are required to minimize the use of needle sticks which are used during intraoperative neurophysiologic monitoring (IONM). Moreover, blood-borne diseases that could be transmitted by a needlestick are human immunodeficiency virus (HIV), hepatitis B (HBV) and hepatitis C (HCV).
Thus, high risk of transmission of chronic diseases by using sub-dermal needle electrodes is expected to hamper the global intraoperative monitoring electrodes market growth during the forecast period.
Key Players
Major players operating in the global intraoperative monitoring electrodes market are DIXI Medical, Ambu A/S, Blackrock Microsystems LLC, Digitimer Ltd., Cognionics, Inc., Rhythmlink International, LLC, Unimed Electrode Supplies, 3M Company, NuVasive, Inc., Computational Diagnostics, Inc., and Natus Medical Incorporated.
An intraoperative monitoring electrodes passes on the current energy into electrical energy in the body and is utilized as a way of diagnosing several sicknesses. An Intraoperative monitoring electrodes are known solutions for the treatment of ocular, nervous, cardiovascular, and muscular illness. The rising incidence of illnesses that are diagnosed with the support of intraoperative monitoring electrodes is likely to boost the global intraoperative monitoring electrodes market growth in the coming years.
Market Dynamics
Novel product launches and adoption of inorganic growth strategies such as acquisitions and collaborations by key players are expected to drive the market growth during the forecast period. In December 2017, NuVasive, Inc. acquired SafePassage, a privately-held provider of intraoperative neurophysiological monitoring (IONM) services. As a result of this acquisition, NuVasive Clinical Services (NCS) solidified its position as the largest provider of outsourced IONM services with more than 550 neurophysiologists and oversight physicians in the U.S.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
*Browse 289 market data tables and 35 figures on "Intraoperative Monitoring Electrodes Market” - Global forecast to 2027
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