Global neuromonitoring equipment market is expected to reach $10.3 billion by 2030: says AMR

Allied Market Research

Allied Market Research

The increase in the prevalence of neurological diseases such as brain tumors, epilepsy and Alzheimer’s disease, the emergence of neurodegenerative disorders and the increase in the number of brain injuries are driving the growth of the global neuromonitoring device market. Based on the product, the doppler ultrasound segment is expected to lead the way by 2030. By region, the Asia-Pacific market is projected to have the fastest CAGR by 2030.

Portland, OR, July 4, 2022 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global Neuromonitoring equipment market: was valued at $5.6 billion in 2021 and is projected to reach $10.3 billion by 2030, at a CAGR of 7.24% from 2022 to 2030. The report provides an in-depth analysis of key investment pockets, top winning strategies, drivers and opportunities, market size and estimates, competitive scenario and changing market trends.

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Increase in the incidence of neurological diseases such as epilepsy, brain tumors, Parkinson’s disease and Alzheimer’s disease, especially among the geriatric population, the emergence of neurodegenerative diseases and an increase in the number of brain injuries are driving the growth of the global neuromonitoring device market. However, high costs of neuromonitoring equipment and a lack of skilled technicians and personnel hinder the market growth. In addition, the recent expansion of brain tracking in clinical trials is expected to create lucrative opportunities in the industry.

Covid-19 scenario-

  • The Covid-19 pandemic negatively impacted the neuromonitoring equipment market due to fewer hospital visits and patient admissions and declining demand for neuromonitoring equipment.

  • Due to the high rate of transmission of the disease and the serious complications associated with it, healthcare professionals have been forced to postpone much neurosurgery, reducing the demand for neuromonitoring equipment.

The global market is analyzed on the basis of product and region.

Based on product, the doppler ultrasound segment contributed nearly one-third of total market revenue in 2021, and is expected to lead the way by 2030. In contrast, the near-infrared spectroscopy segment would fastest CAGR of 8.52% by 2030.

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Based on region, the North American market held the largest share of more than a third of the global market in 2021 and is expected to maintain its lead over the forecast period. However, Asia-Pacific would have the fastest CAGR of 7.99% by 2030† The other regions mentioned in the report are Europe and LAMEA.

The report provides analysis of the major market players in the global Neuromonitoring Devices Market, including GE Healthcare, Koninklijke Philips NV, Medtronic Plc, Nihon Kohden Corporation, Natus Medical Incorporated., Nuvasive, Inc., Advanced Brain Monitoring, Inc., Intranerve Neuroscience Holdings, LLC, Specialtycare and RIMED Ltd. These market players have adopted various strategies including partnership, expansion, collaboration, joint ventures and others to prove their flair in the industry.

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“We have also published some syndicated market studies in the same area that may be of interest to you. Below is the report title for your reference:given the impact of Covid-19 on this market, which will help you assess the aftermath of a pandemic on the short and long term growth trends of this market.”

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Allied Market Research (AMR) is a full-service market research and business advisory division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research offers global enterprises as well as medium and small businesses an unparalleled quality of “Market Research Reports” and “Business Intelligence Solutions”. AMR has a focused vision to provide business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research leads the organization to deliver high-quality data and insights. We have professional business relationships with various companies and this helps us to dig up market data that helps us generate accurate tables of research data and confirm pinpoint accuracy in our market forecasts. All data presented in the reports published by us has been extracted through primary interviews with top executives of leading companies in the respective field. Our secondary data procurement methodology includes in-depth online and offline research and discussion with expert professionals and industry analysts.

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