NERVE MONITORING SYSTEM MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Increasing product recall by regulatory authorities is expected to hamper the market growth over the forecast period. For instance, in September 2023, Abbott, a medical device company, announced that the U.S. Food and Drug Administration had recalled Proclaim neurostimulation systems and Infinity IPGs after receiving complaints that users were unable the exit the magnetic resonance imaging (MRI) mode. There have been 186 reported incidents of faulty devices and 76 cases of injuries, but no  deaths have been reported.

Market Opportunity – Growing Demand for Minimally Invasive Surgeries

Growing demand for minimally invasive surgeries can offer opportunities for the global nerve monitoring system market growth. There has been a continual shift towards minimally invasive options across different medical specialties over the past decade due to advantages like reduced post-operative pain, shorter hospital stays, and quicker recovery times for patients. Minimally invasive surgeries are common in many areas like bariatric, hernia repair, and certain orthopedic procedures. However, in complex surgeries that require meticulous handling or dissection of nerves like spine, brain, ENT, or vascular procedures, surgeons are constantly looking for newer techniques and tools to perform such interventions with smaller incisions while ensuring safety.