The global market for neuromonitoring devices is expected to reach $10.3 billion by 2030: says AMR
Increasing prevalence of neurological diseases such as brain tumors, epilepsy and Alzheimer’s, emergence of neurodegenerative disorders and rising number of brain injuries are driving the growth of global neuromonitoring devices market. Depending on the product, the Doppler ultrasound segment is expected to lead the way by 2030. By region, the market across Asia Pacific will indicate the fastest compound annual growth rate by 2030.
PORTLAND, Oregon, July 4, 2022 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, Neuromonitoring market Estimated at $5.6 billion in 2021 and expected to reach $10.3 billion by 2030, registering a compound annual growth rate of 7.24% from 2022 to 2030. The report provides an in-depth analysis of the most important investment pockets, winning strategies, drivers and opportunities, market size and estimates And the competitive scenario and different market trends.
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The rising incidence of neurological diseases such as epilepsy, brain tumors, Parkinson’s disease and Alzheimer’s disease, especially among the elderly, the emergence of neurodegenerative disorders and the increasing number of brain injuries are driving the growth of the global neuromonitoring devices market. However, the high cost of neuromonitoring devices and the scarcity of technicians and skilled personnel are hampering the growth of the market. Furthermore, the recent expansion of brain tracking in clinical studies is expected to create lucrative opportunities in the industry.
The Covid-19 pandemic has negatively affected the neuromonitoring devices market due to reduced patient visits and admissions to hospital and decreasing demand for neuromonitoring devices.
Due to the high rate of disease transmission and the serious complications associated with it, healthcare professionals have had to postpone many neurosurgeries, reducing the demand for neuromonitoring devices.
The global market is analyzed on the basis of product and region.
Based on the product, the Doppler ultrasound segment contributed nearly a third of the total market revenue in 2021 and is expected to lead the way by 2030. On the other hand, the near-infrared spectroscopy segment will offer Fastest compound annual growth rate of 8.52% in 2030.
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Based on region, the market across North America captured the largest share of more than a third of the global market in 2021, and will maintain its leadership throughout the forecast period. However, the Asia Pacific region will show the fastest compound annual growth rate of 7.99% in 2030. Other regions mentioned in the report are Europe and LAMEA.
The report provides an analysis of the major market players in the global neuromonitoring devices market which include GE Healthcare, Koninklijke Philips NV, Medtronic Plc, Nihon Kohden Corporation and Natus Medical Incorporated. and Nuvasive, Inc. and Advanced Brain Monitoring, Inc. and Intranerve, Neuroscience Holdings, Llc, Specialtycare, and RIMED Ltd. Several strategies including partnership, expansion, collaboration, joint venture, etc. to prove their taste in the industry.
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“We have also published a few common market studies in the same field that may be of interest to you. Below is the title of the report for your reference., considering the impact of Covid-19 on this market which will help you to assess the after effects of the pandemic on the short term and long term growth trends of this market. “
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