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Global nerve monitoring devices market is estimated to expand at a substantial CAGR in the forecast period as the scope, product types, and its applications are increasing across the globe. Nerve monitoring devices allow specialists to recognize and monitor brain disorders such as spinal cord & peripheral nerve dysfunction, brain alterations and irreversible nerve damage. Factors such as continuous advancement in medical technology both for the diagnosis and the treatment of nervous disorders elevating the demand, increase in the aged population leading to surge in the number of surgical procedures being performed at the global level and surge in the occurrence of neurological disorders are likely to drive the nerve monitoring devices market in forthcoming period. On the other hand, lack of skilled professionals in emerging countries and poor reimbursement regulations are anticipated to hinder market growth in the future. However, increasing awareness amongst the surgeons is likely to create lucrative opportunities for the market. Nerve monitoring devices market may be explored by product type, application, and geography.
Market of nerve monitoring devices may be explored by product type as Cables, Lead wires, Adapters, Monitors and Electrodes (Reusable Surface Electrodes and Disposable Surface Electrodes). Market of nerve monitoring devices based on modality could span Electromyography/nerve conduction studies/evoked potential (EMG/NCS/EP), Electroencephalography (EEG) and Magnetoencephalography (MEG). Nerve monitoring devices market is categorized based on geography into North America, Latin America, Japan, Middle East, and Africa, Western Europe, Asia Pacific, and Eastern Europe. North America is a leading region in the market. It is likely to maintain its dominance in the forecast period owing to factors, such as high volumes of surgical procedures being performed, the high contribution of healthcare to the economy, the accessibility of recognized healthcare infrastructure, patient compliance are the reasons for the high demand in North America. North America is followed by European region owing to vast technological advancement in the healthcare segment.
Key players operating in the nerve monitoring devices market include NuVasive, Inc., Medtronic, Inomed, Magnetism, NIHON KOHDEN CORPORATION, NeuroSign, EMS Biomedical, Natus Medical Incorporated, Deymed Diagnostic, and Dr. Langer Medical GmbH. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.