The North America Neuromonitoring Devices Market is expected to witness market growth of 6.8% CAGR during the forecast period (2022-2028).
Neuromonitoring devices are medical devices that can record information on a patient's brain's electric signal rate, blood circulation, and oxygen concentration and instantaneously display the results. In hospitals, clinics, and other comparable environments, these gadgets are frequently employed. Doppler ultrasonography, and magnetic resonance imaging are a few of the different types of neuromonitoring equipment available on the market (MRI).
market growth is anticipated to be accelerated by technological developments in the creation of neuromonitoring devices to track patients' brain health. The manufacturing businesses have started investing a significant amount in accelerating their development and research efforts in response to the increasing demand for improved neuromonitoring devices, which has further fueled the market expansion. For example, Rhythmlink International, LLC, a manufacturer of medical equipment, announced Fda approval of its new product line known as sticky pad surface electrodes on February 23, 2021, according to news published on Business Wire, an online news portal.
Neurological disorders are on the rise across the region. Healthcare professionals are taking steps to provide better care for these illnesses. The population of the elderly is also increasing in the area as well. As a result of increased R&D efforts in the healthcare industry and the introduction of neuromodulation devices to the market, the number of Americans 65 and older will more than double to 95 million by 2060, up from 52 million in 2018. As a result, the market is expanding as more healthcare companies pursue research and development.
For instance, in July 2021, the FDA approved the 10 kHz high-frequency spinal cord stimulator therapy offered by Nevro Corporation for the management of persistent pain brought on by severe diabetic neuropathy. The FDA wants to make the regulatory process more open and predictable for those who develop and manufacture neurological medical devices.
The US market dominated the North America Neuromonitoring Devices Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $2,207.5 million by 2028. The Canada market is anticipated to grow at a CAGR of 9.2% during (2022-2028). Additionally, The Mexico market is expected to showcase a CAGR of 8.3% during (2022-2028).
Based on Product, the market is segmented into Doppler Ultrasound, EEG, Fetal/Neonatal Neuro-Monitoring Devices, Intracranial Pressure Monitoring, Cerebral Ox meter, Near Infrared Spectroscopy, Speckle Imaging, Micro Ultrasound, and Others. Based on End User, the market is segmented into Government, Energy, Defense, Agriculture & Forestry, Media & Entertainment, Civil Engineering & Archaeology, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Medtronic PLC, Nihon Kohden Corporation, Natus Medical Incorporated, Nuvasive, Inc., Advanced Brain Monitoring, Inc., Intranerve Neuroscience Holdings, Llc, Specialtycare, and RIMED Ltd.
By Product
Neuromonitoring devices are medical devices that can record information on a patient's brain's electric signal rate, blood circulation, and oxygen concentration and instantaneously display the results. In hospitals, clinics, and other comparable environments, these gadgets are frequently employed. Doppler ultrasonography, and magnetic resonance imaging are a few of the different types of neuromonitoring equipment available on the market (MRI).
market growth is anticipated to be accelerated by technological developments in the creation of neuromonitoring devices to track patients' brain health. The manufacturing businesses have started investing a significant amount in accelerating their development and research efforts in response to the increasing demand for improved neuromonitoring devices, which has further fueled the market expansion. For example, Rhythmlink International, LLC, a manufacturer of medical equipment, announced Fda approval of its new product line known as sticky pad surface electrodes on February 23, 2021, according to news published on Business Wire, an online news portal.
Neurological disorders are on the rise across the region. Healthcare professionals are taking steps to provide better care for these illnesses. The population of the elderly is also increasing in the area as well. As a result of increased R&D efforts in the healthcare industry and the introduction of neuromodulation devices to the market, the number of Americans 65 and older will more than double to 95 million by 2060, up from 52 million in 2018. As a result, the market is expanding as more healthcare companies pursue research and development.
For instance, in July 2021, the FDA approved the 10 kHz high-frequency spinal cord stimulator therapy offered by Nevro Corporation for the management of persistent pain brought on by severe diabetic neuropathy. The FDA wants to make the regulatory process more open and predictable for those who develop and manufacture neurological medical devices.
The US market dominated the North America Neuromonitoring Devices Market by Country in 2021, and is expected to continue to be a dominant market till 2028; thereby, achieving a market value of $2,207.5 million by 2028. The Canada market is anticipated to grow at a CAGR of 9.2% during (2022-2028). Additionally, The Mexico market is expected to showcase a CAGR of 8.3% during (2022-2028).
Based on Product, the market is segmented into Doppler Ultrasound, EEG, Fetal/Neonatal Neuro-Monitoring Devices, Intracranial Pressure Monitoring, Cerebral Ox meter, Near Infrared Spectroscopy, Speckle Imaging, Micro Ultrasound, and Others. Based on End User, the market is segmented into Government, Energy, Defense, Agriculture & Forestry, Media & Entertainment, Civil Engineering & Archaeology, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Medtronic PLC, Nihon Kohden Corporation, Natus Medical Incorporated, Nuvasive, Inc., Advanced Brain Monitoring, Inc., Intranerve Neuroscience Holdings, Llc, Specialtycare, and RIMED Ltd.
Scope of the Study
Market Segments Covered in the Report:
By Product
- Doppler Ultrasound
- EEG
- Fetal/Neonatal Neuro-Monitoring Devices
- Intracranial Pressure Monitoring
- Cerebral Oximeter
- Near Infrared Spectroscopy
- Speckle Imaging
- Micro Ultrasound
- Others
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- General Electric (GE) Co. (GE Healthcare)
- Koninklijke Philips N.V.
- Medtronic PLC
- Nihon Kohden Corporation
- Natus Medical Incorporated
- Nuvasive, Inc.
- Advanced Brain Monitoring, Inc.
- Intranerve Neuroscience Holdings, Llc
- Specialtycare
- RIMED Ltd.
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Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. North America Neuromonitoring Devices Market by Product
Chapter 5. North America Neuromonitoring Devices Market by Country
Chapter 6. Company Profiles
Companies Mentioned
- General Electric (GE) Co. (GE Healthcare)
- Koninklijke Philips N.V.
- Medtronic PLC
- Nihon Kohden Corporation
- Natus Medical Incorporated
- Nuvasive, Inc.
- Advanced Brain Monitoring, Inc.
- Intranerve Neuroscience Holdings, Llc
- Specialtycare
- RIMED Ltd.
Methodology
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