Global Neuromonitoring Devices Market is Expected to Reach $10.3 Billion by 2030: Says AMR

·4 min read
Allied Market Research
Allied Market Research

Increase in prevalence of neurological diseases such as brain tumors, epilepsy and Alzheimer’s, the emergence of neurodegenerative disorders and rise in number of brain injuries drive the growth of the global neuromonitoring devices market. Based on product, the doppler ultrasound segment is expected to lead the trail by 2030. By region, the market across Asia-Pacific would cite the fastest CAGR by 2030.

Portland, OR, July 04, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global Neuromonitoring Devices Market was estimated at $5.6 billion in 2021 and is expected to hit $10.3 billion by 2030, registering a CAGR of 7.24% from 2022 to 2030. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and varying market trends.

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Rise in incidence of neurological diseases such as epilepsy, brain tumors, Parkinson's disease, and Alzheimer’s, especially among the geriatric population, the emergence of neurodegenerative disorders and increase in number of brain injuries drive the growth of the global neuromonitoring devices market. However, high cost of neuromonitoring devices and a scarcity of skilled technicians and personnel impede the market growth. Moreover, the recent expansion of brain tracking in clinical studies is anticipated to create lucrative opportunities in the industry.

Covid-19 scenario-

  • The Covid-19 pandemic impacted the neuromonitoring devices market negatively due to reduced patients’ hospital visits and admissions and diminishing demand for neuromonitoring devices.

  • Due to the high transmission rate of the disease and severe complications associated with it, healthcare professionals were compelled to postpone many neurosurgeries, thus reducing the demand for neuromonitoring devices.

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

Based on product, the doppler ultrasound segment contributed to nearly one-third of the total market revenue in 2021, and is projected to lead the trail by 2030. The near infrared spectroscopy segment, on the other hand, would exhibit the fastest CAGR of 8.52% in 2030.

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Based on region, the market across North America held the largest share of more than one-third of the global market in 2021, and would maintain its lead throughout the forecast period. However, Asia-Pacific would manifest the fastest CAGR of 7.99% in 2030. The other regions mentioned in the report are Europe and LAMEA.

The report provides an analysis of the key market players in the global neuromonitoring devices market which include 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. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures, and others to prove their flair in the industry.

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“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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