Global Nerve Monitoring Systems Market to Reach $1.5 Billion by 2027
Amid the COVID-19 crisis, the global market for Nerve Monitoring Systems estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027. Nerve Monitors, one of the segments analyzed in the report, is projected to record a 3.3% CAGR and reach US$584.4 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nerve Stimulation Electrodes and Probes segment is readjusted to a revised 3.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $310.7 Million, While China is Forecast to Grow at 6.2% CAGR
The Nerve Monitoring Systems market in the U.S. is estimated at US$310.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$301.1 Million by the year 2027 trailing a CAGR of 6.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Accessories Segment to Record 2.8% CAGR
In the global Accessories segment, USA, Canada, Japan, China and Europe will drive the 2.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$197.6 Million in the year 2020 will reach a projected size of US$232 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$203 Million by the year 2027, while Latin America will expand at a 3.6% CAGR through the analysis period.
Select Competitors (Total 44 Featured):
Amid the COVID-19 crisis, the global market for Nerve Monitoring Systems estimated at US$1.2 Billion in the year 2020, is projected to reach a revised size of US$1.5 Billion by 2027, growing at a CAGR of 3.4% over the analysis period 2020-2027. Nerve Monitors, one of the segments analyzed in the report, is projected to record a 3.3% CAGR and reach US$584.4 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Nerve Stimulation Electrodes and Probes segment is readjusted to a revised 3.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $310.7 Million, While China is Forecast to Grow at 6.2% CAGR
The Nerve Monitoring Systems market in the U.S. is estimated at US$310.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$301.1 Million by the year 2027 trailing a CAGR of 6.1% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.7% CAGR.
Accessories Segment to Record 2.8% CAGR
In the global Accessories segment, USA, Canada, Japan, China and Europe will drive the 2.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$197.6 Million in the year 2020 will reach a projected size of US$232 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$203 Million by the year 2027, while Latin America will expand at a 3.6% CAGR through the analysis period.
Select Competitors (Total 44 Featured):
- Axon Health Care System
- Bovie Medical Corporation
- Checkpoint Surgical Inc
- Dr. Langer Medical GmbH
- EMS Handels Gesellschaft mbH
- ERBE Elektromedizin GmbH
- Halyard Health, Inc.
- Inomed Medizintechnik GmbH
- Magstim Company Ltd.
- Medtronic PLC
- Natus Medical, Inc.
- Neurovision Medical Products
- Nihon Kohden Corporation
- NuVasive, Inc.
- Xavant Technology (Pty) Ltd.
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I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
III. MARKET ANALYSIS
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Nerve Monitoring System: A Prelude
- Impact of Covid-19 and a Looming Global Recession
3. MARKET TRENDS & DRIVERS
- Increasing Number of Brain Disorders and Need for Surgical Interventions Drives Demand for Nerve Monitoring Systems
- Exhibit 1: Percentage of Deaths Due to Neurological Disorders for the Years 2005, 2015 and 2030
- Exhibit 2: Incidence of Adult Onset Brain Disorders in the US per Annum
- Clinical Benefits Associated with Nerve Monitoring Procedures Lay Strong Foundation for Growth
- Rising Number of Surgeries Create a Favorable Environment for Nerve Monitoring Systems Growth
- Exhibit 3: Number of Cases Requiring Neurosurgery Worldwide by Region
- Exhibit 4: Number of Inpatient Surgical Procedures per Annum in Europe during the Period 2010 to 2016
- Rising Use of Nerve Monitoring Devices in Complex and Critical Surgeries Boosts Market Demand
- Exhibit 5: Growth in Elderly Population Worldwide by Region/Country for the Years 2010, 2020, 2030, 2040 and 2050
- Rising Use of Nerve Monitoring in Trauma Cases Drives Demand
- Growing Geriatric Population Worldwide and Resulting Need for Nerve Monitoring Systems Leads to Market Growth
- Increasing Availability of Medical Reimbursements for Nerve Monitoring: An Opportunity Indicator
- Growing R&D Investments and Advancements in Wearable Devices Supports Market Growth
- Development of Healthcare Infrastructure in Emerging Countries Instigates Growth for Nerve Monitoring Systems
- Exhibit 6: Global Healthcare Spending in US$ Trillion by Developed and Emerging Economies for the Years 2014, 2016, 2018, 2020 and 2022
- Innovations and Advancements
- Product Overview
- Nerve Monitoring System: Introduction
- Nerve Monitoring System by Product Type
- Nerve Stimulation Electrodes and Probes
- Accessories
- Nerve Monitors
- Nerve Monitoring System: Applications
- Thyroid Surgery
- ENT and OM Surgery
- Spine Surgery
- Cardiovascular Applications
- Neurosurgery
- Rectal Surgery
III. MARKET ANALYSIS
- UNITED STATES
- CANADA
- JAPAN
- CHINA
- EUROPE
- FRANCE
- GERMANY
- ITALY
- UNITED KINGDOM
- SPAIN
- RUSSIA
- REST OF EUROPE
- ASIA-PACIFIC
- AUSTRALIA
- INDIA
- SOUTH KOREA
- REST OF ASIA-PACIFIC
- LATIN AMERICA
- ARGENTINA
- BRAZIL
- MEXICO
- REST OF LATIN AMERICA
- MIDDLE EAST
- IRAN
- ISRAEL
- SAUDI ARABIA
- UNITED ARAB EMIRATES
- REST OF MIDDLE EAST
- AFRICA
- Total Companies Profiled: 44
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