Intraoperative Neuromonitoring Market Size, Share, Growth Analysis, By Products and Services(Systems, Accessories, Services), By Source Type(Insourced Monitoring, Outsourced Monitoring), By Application(Spinal Surgery, Neurosurgery, Orthopedic Surgery, ENT Surgery), By Modality(Motor evoked potentials (MEPs), Somatosensory evoked potentials (SSEPs), Electroencephalography (EEG), Electromyography (EMG)), By End User(Hospitals, Ambulatory Surgical Centers (ASCs)), By Region - Industry Forecast 2025-2032

Global Intraoperative Neuromonitoring Market size was valued at USD 3.12 billion in 2022 and is poised to grow from USD 3.27 billion in 2023 to USD 4.76 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).

The global intraoperative neuromonitoring (IONM) market is highly competitive, with both global and local players. Because of technological advancements, small and mid-sized businesses are focusing on market penetration in order to gain market share. The market is experiencing a surge in merger and acquisition activity. Medtronic and Natus Medical among all key players have a strong presence in the global Intraoperative neuromonitoring market with its leading products and services. The majority of the market's key players are concentrating their efforts on R&D, product innovation, expanding their existing product lines, and strengthening their market presence through geographical expansion. 'Natus Medical Incorporated (US) ', 'Accurate Monitoring (US) ', 'NeuroMonitoring Technologies (US) ', 'Medtronic (Ireland) ', 'NuVasive , Inc. (US) ', 'SpecialtyCare (US)', 'Cadwell Industries, Inc. (US) ', 'Alpha Omega Engineering, Inc. (US) ', 'Biotronic NeuroNetwork (US) ', 'IntraOp Medical Corporation (US) ', 'NeuroWave Systems, Inc. (US) ', 'Integra LifeSciences Corporation (US) ', 'Zynex, Inc. (US) ', 'Medtronic (Ireland) ', 'Stryker Corporation (US) ', 'Nerve Monitoring Services, Inc. (US) ', 'Neurodiagnostic Services (US) ', 'Aesculap, Inc. (US) ', 'Elekta AB (Sweden) ', 'OrLive (US) ', 'Stimwave Technologies (US)'

The high cost of IONM devices and procedures are a significant growth barrier. EEG devices with 1-32 channels cost around US$ 1,000 to US$ 25,000, and EEG devices with more than 64 channels can cost more than US$ 25,000, depending on the number of channels. Portable amplifiers capable of recording EMG for more than four hours usually cost more than US$ 20,000. Because of budget constraints, many end-users prefer refurbished IONM devices, which offer significant cost savings over new devices. Several companies offer refurbished IONM devices at promotional prices that impacts the sale of new devices.

Post-pandemic demand: The post-pandemic effect of Covid-19 has enabled an increase in demand for elective surgeries followed with an increased awareness for benefits of IONM. 

North America dominated the market, accounting for more than 55% of global revenue in 2022. The reimbursement scenario, and the increasing cases of neurological disorders, are a major contributor to this dominance. According to the National Institute of Health, approximately 795,000 people in the US experience stroke each year with 137,000 death cases. Furthermore, according to the Migraine Research Foundation, approximately 35 million people in the US suffer from migraine headaches in the upcoming year. Furthermore, nearly 43% of women and 18 percent of men in the country are expected to suffer from migraines. As a result, rising rates of neurological disorders like TBI, migraine, and stroke are expected to drive market growth in this country.