The global nerve monitoring devices market accounted for USD 1.43 billion in 2023 and is expected to reach at USD 2.54 billion by 2034 with a CAGR of 5.36% during the forecast period 2024-2034. The growing demand for better surgical outcomes, the increasing prevalence of neurological disorders, the increasing use of minimally invasive surgeries, favorable reimbursement policies, technological advancements, and strategic alliances and collaborations will drive market expansion.
The need for nerve monitoring devices has expanded dramatically due to the rising frequency of neurological illnesses, including but not limited to epilepsy, Parkinson's disease, peripheral neuropathy, and spinal cord injuries. The market is growing because these devices are essential for guiding surgical interventions, monitoring and diagnosing neurological diseases, and evaluating nerve function during treatments. For instance, Natus Medical Incorporated strengthened its position in evoked potential (EP) technology for nerve monitoring in December 2023 by acquiring NeuroWave Systems Inc.
By product, the monitor's segment accounted for the highest revenue-grossing segment in the global nerve monitoring devices market in 2023 owing to the increased demand for advanced monitoring systems, technological innovations improving device capabilities, and the rising adoption of intraoperative neuromonitoring (IONM) techniques across various surgical procedures. For instance, in November 2023, Nihon Kohden stated that it was launching the Nihon Kohden Neuromaster MEE-03, a new compact EEG monitoring device, as part of its neuromonitoring portfolio expansion. Additionally, the ancillary products segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for accessories and consumables such as electrodes, cables, and probes, coupled with the rising number of surgeries requiring nerve monitoring, driving the need for complementary products.
By technology, the electromyography (EMG) segment accounted for the highest revenue-grossing segment in the global nerve monitoring devices market in 2023 owing to the wide application in neurological diagnostics, muscle function assessment, and intraoperative neuromonitoring (IONM), driving its demand across various medical specialties. For instance, Natus Medical expanded its neurology offering in December 2023 when it announced the acquisition of an electromyography (EMG) system developer and producer. Additionally, the evoked potentials (EPs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption in diagnosing neurological disorders, monitoring nerve function during surgeries, and advancements in technology enhancing its accuracy and efficiency.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global nerve monitoring devices market in 2023 owing to the high volume of surgical procedures performed in hospitals, increased adoption of nerve monitoring technologies in surgical settings, and the availability of advanced healthcare infrastructure facilitating their usage. For instance, Inomed Medizintechnik GmbH announced in September 2023 the launch of NeuroGuard, a revolutionary nerve monitoring system with sophisticated intraoperative neuromonitoring features. Additionally, the ambulatory surgical centers (ASCs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising trend towards outpatient surgeries, cost-effectiveness, technological advancements making nerve monitoring feasible in ASC settings, and increasing demand for minimally invasive procedures.
North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high adoption rates of technological innovations, strong presence of key market players, and favorable reimbursement policies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of neurological disorders, rising healthcare expenditure, expanding healthcare infrastructure, growing geriatric population, and increasing awareness about the benefits of nerve monitoring devices. For instance, the U.S.-based business Neuspera Medical, which creates implanted medical device technology, announced in April 2023 that the FDA had approved its next-generation, ultra-miniaturized peripheral nerve stimulation (PNS) system.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
The need for nerve monitoring devices has expanded dramatically due to the rising frequency of neurological illnesses, including but not limited to epilepsy, Parkinson's disease, peripheral neuropathy, and spinal cord injuries. The market is growing because these devices are essential for guiding surgical interventions, monitoring and diagnosing neurological diseases, and evaluating nerve function during treatments. For instance, Natus Medical Incorporated strengthened its position in evoked potential (EP) technology for nerve monitoring in December 2023 by acquiring NeuroWave Systems Inc.
By product, the monitor's segment accounted for the highest revenue-grossing segment in the global nerve monitoring devices market in 2023 owing to the increased demand for advanced monitoring systems, technological innovations improving device capabilities, and the rising adoption of intraoperative neuromonitoring (IONM) techniques across various surgical procedures. For instance, in November 2023, Nihon Kohden stated that it was launching the Nihon Kohden Neuromaster MEE-03, a new compact EEG monitoring device, as part of its neuromonitoring portfolio expansion. Additionally, the ancillary products segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing demand for accessories and consumables such as electrodes, cables, and probes, coupled with the rising number of surgeries requiring nerve monitoring, driving the need for complementary products.
By technology, the electromyography (EMG) segment accounted for the highest revenue-grossing segment in the global nerve monitoring devices market in 2023 owing to the wide application in neurological diagnostics, muscle function assessment, and intraoperative neuromonitoring (IONM), driving its demand across various medical specialties. For instance, Natus Medical expanded its neurology offering in December 2023 when it announced the acquisition of an electromyography (EMG) system developer and producer. Additionally, the evoked potentials (EPs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the increasing adoption in diagnosing neurological disorders, monitoring nerve function during surgeries, and advancements in technology enhancing its accuracy and efficiency.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global nerve monitoring devices market in 2023 owing to the high volume of surgical procedures performed in hospitals, increased adoption of nerve monitoring technologies in surgical settings, and the availability of advanced healthcare infrastructure facilitating their usage. For instance, Inomed Medizintechnik GmbH announced in September 2023 the launch of NeuroGuard, a revolutionary nerve monitoring system with sophisticated intraoperative neuromonitoring features. Additionally, the ambulatory surgical centers (ASCs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising trend towards outpatient surgeries, cost-effectiveness, technological advancements making nerve monitoring feasible in ASC settings, and increasing demand for minimally invasive procedures.
North American region is anticipated to have the highest revenue share during the forecast period owing to the advanced healthcare infrastructure, high adoption rates of technological innovations, strong presence of key market players, and favorable reimbursement policies. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing prevalence of neurological disorders, rising healthcare expenditure, expanding healthcare infrastructure, growing geriatric population, and increasing awareness about the benefits of nerve monitoring devices. For instance, the U.S.-based business Neuspera Medical, which creates implanted medical device technology, announced in April 2023 that the FDA had approved its next-generation, ultra-miniaturized peripheral nerve stimulation (PNS) system.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Product, Technology, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Nerve Monitoring Devices Market Report 2023 - 2034
Nerve Monitoring Devices Market Analysis & Forecast by Product 2023 - 2034 (Revenue USD Bn)
- Monitors
- Electrodes
- Ancillary Products
Nerve Monitoring Devices Market Analysis & Forecast by Technology 2023 - 2034 (Revenue USD Bn)
- Electroencephalogram (EEG)
- Evoked Potential
- Somatosensory Evoked Potentials (SSEP)
- Transcranial Electrical Motor Evoked Potentials (TCeMEP)
- Brainstem Auditory Evoked Potentials (BAEP)
- Visual Evoked Potentials (VEP)
- Electromyography (EMG)
- Electrocorticography (ECoG)
Nerve Monitoring Devices Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Ambulatory Surgical Centers
- Specialty Clinics
- Neurology Centers
Nerve Monitoring Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Nerve Monitoring Devices Market: Product Estimates & Trend Analysis
8. Nerve Monitoring Devices Market: Technology Estimates & Trend Analysis
9. Nerve Monitoring Devices Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Nerve Monitoring Devices Market
12. Europe Global Nerve Monitoring Devices Market
13. Asia Pacific Global Nerve Monitoring Devices Market
14. Latin America Global Nerve Monitoring Devices Market
15. MEA Global Nerve Monitoring Devices Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Medtronic plc
- Nihon Kohden Corporation
- Natus Medical Incorporated
- NuVasive Inc.
- Cadwell Industries Inc.
- Inomed Medizintechnik GmbH. Checkpoint Surgical Inc.
- EMS Biomedical
- Dr. Langer Medical GmbH
- Neurovision Medical Products Inc.
- Magstim Company Limited
- Drägerwerk AG & Co. KGaA
- NeuroWave Systems Inc.
- Neurosoft
- Shanghai NCC Medical Co. Ltd.
