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Europe Intraoperative Neuromonitoring Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product ; Source ; Application ; Modality ; and End User, and Country

·3-min read

The Europe intraoperative neuromonitoring market is expected to reach US$ 1,050. 41 million by 2027 from US$ 596. 95 million in 2019; it is estimated to grow at a CAGR of 7. 4% from 2019 to 2027.

New York, Oct. 28, 2020 (GLOBE NEWSWIRE) -- announces the release of the report "Europe Intraoperative Neuromonitoring Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Product ; Source ; Application ; Modality ; and End User, and Country" -
The intraoperative neuromonitoring market in Europe grows primarily due to rising incidences of neurological disorders and increasing technological advancements in the field of neuromonitoring; however, the lack of skilled professionals restrains the growth of the market. Additionally, increasing research activities in the nerve monitoring field and integration of artificial intelligence (AI) technology with neuromonitoring are expected to fuel the growth of the Europe intraoperative neuromonitoring market during the forecast period.

Intraoperative neurophysiological monitoring (IOM), an integral part of most of the surgical procedures, prevents the neurological damage that may cause during surgeries.It also identifies neural structures, thereby preventing post-operative impairments.

IOM employs a wide range of modalities such as motor evoked potentials (MEPs), somatosensory evoked potentials (SSEPs), electroencephalography (EEG), electromyography, brainstem auditory evoked potentials (BAEPs), and visual evoked potentials (VEPs).

Neurological disorders cause a significant number of deaths; to improvise the diagnosis and treatments of these disorders, several government authorities and organizations offer financial aids and research platforms for researchers.Biosensors are rapidly becoming part of neuromonitoring and the plethora of biosensors have been developed over in the last decade.

Also, many research activities help in the development of innovative products.

The increasing financial aid from government organizations supports brain research and helps in the development of new products in Europe. For instance, the Human Brain Project was launched by the European Commission (EC) with a funding of US$ 1.17 billion in 2013. Furthermore, at the start of its European Month of the brain, EC announced funding of ~US$ 176.2 million for 20 new international brain research projects, bringing the total European Union (EU) investment to over US$ 2.2 billion in brain research since 2007. The increasing investments in research activities are projected to generate a lucrative opportunity for the growth of the market.

The impact of the COVID-19 pandemic on cancer patients is high as these patients suffer from anxiety, fear, and psychological distress.According to a news article, due to the COVID-19 emergency in Italy, thousands of cancer patients were facing difficulties in undergoing chemotherapy, scans, transplants, and surgery.

The research by Codice Viola, a charity that supports pancreatic cancer patients, found that more than 1,000 patients’ appointments for chemotherapy or radiotherapy were suspended. Likewise, the COVID-19 crisis also hampers the growth of the intraoperative neuromonitoring market.

In 2019, the systems segment accounted for the largest share of the intraoperative neuromonitoring market.Systems in intraoperative monitoring have become a crucial factor in neurosurgery as these offer an early warning concerning motor and sensory functions during surgery; thus, it yields better results and avoids post-operative neurophysiological deficits.

Moreover, market players are developing advanced products to remain competitive in the market, additionally helping the systems segment growth in the forecasted period.

A few major secondary sources referred to while preparing the Europe intraoperative neuromonitoring market report are World Health Organization (WHO), National Health Services (NHS), National Institute for Health and Care Excellence (NICE), Centre for Mental Health, and European Cardiovascular Disease Statistics.
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