INTRAOPERATIVE NEUROMONITORING MARKET ANALYSIS

Regional Analysis

North America was the leading region in global intraoperative neuromonitoring market in 2016, owing to the favoring reimbursement scenario in the region and rising adoptions of IONM in surgical department. For instance, Medicare built CPT codes and reimbursement policies regarding to the use of intraoperative neuromonitoring as a part of revised CPT codes and guidelines released in 2017. Another factor boosting growth of the market is the increasing cases in the number of spinal cord surgeries in North America. For instance, according to Pennsylvania Health Care Cost Containment Council, Statewide Statistics and Key Findings 2014, around 21,293 adults underwent spinal fusion surgery in 2014 witnessing a rise of 67.2% since 2004 in the U.S. The same source states that that 3.3% people who underwent spinal fusion in Pennsylvania experienced surgical complication during the fusion process.

Asia Pacific is anticipated to witness a marginal growth in the global intraoperative neuromonitoring market, owing to rising medical tourism and increasing awareness of patient safety during the surgery. For instance, according to Indian Brand Equity Foundation (IBEF) 2015, over 2,000,000 patients visited India in 2015 for medical procedures, which majorly include spinal procedures, liver transplant, and other cosmetic procedures.