What the Market Looks Like?
The global nerve monitoring system market is estimated to be valued at USD 1.14 Billion in 2017 and is projected to reach USD 1.45 Billion by 2022 growing at a CAGR of 4.9%.
Target Audience of this Study:
• Nerve monitoring product manufacturers
• Nerve monitoring product suppliers and distributors
• Contract manufacturers
• Healthcare service providers [including hospitals, surgical centers, and ambulatory surgical centers (ASCs)]
• Research laboratories and academic institutes
• Clinical research organizations (CROs)
• Government regulatory authorities
• Independent associations and non-government organizations
• National and international regulatory authorities
• Market research firms
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What Drives the Market?
The factors driving the growth of Nerve Monitoring Systems Industry are the expansion in target patient base, rising demand for surgical intervention among trauma cases rising, clinical benefits associated with nerve monitoring systems, and the growing availability of medical reimbursements for nerve monitoring in developed nations.
Market Restraints:
• Limited Awareness About Nerve Monitoring Among Healthcare Professionals
Market Opportunities:
• Increased Clinical Studies in the Field of Nerve Monitoring
• Emerging Markets
Key Questions answered in this Study:
• What are the business growth strategies adopted by key market players to maintain their market position across key geographies?
• What is the existing developmental pipeline of major nerve monitoring systems among Medtech manufacturers as well as academia?
• Growing number of trauma based surgical procedures is a key trend in clinical management. What impact trauma based surgical procedures will have on nerve monitoring systems market during the forecast period?
• What alternative technologies/therapies are currently being used for nerve monitoring worldwide? What competition they pose for key nerve monitoring systems market players.
Geographical growth scenario of nerve monitoring systems market
North America accounted for the largest share of the nerve monitoring system market
Geographically, the nerve monitoring system market is segmented into North America, Europe, Asia, and the Rest of the World. North America is estimated to account for the largest share of the market in 2017, which is driven by the presence of a large patient population accompanied by a well-established medical reimbursement policy.
Leading market players and strategies adopted
The major players of the nerve monitoring system market are Medtronic (Ireland), NuVasive (US), Nihon Kohden (Japan), Bovie Medical (US), and Natus Medical (US), Checkpoint Surgical (US), Magstim (UK), Inomed (Germany), Erbe Elektromedizin (Germany), Dr. Langer Medical (Germany), EMS Handels (Austria), Neurovision Medical (US), and Halyard Health (Georgia).
Analysis of the market developments between 2015 and 2017 revealed that several growth strategies such as product launches, acquisitions, mergers, and expansions were adopted by market players to strengthen their product portfolios and maintain a competitive position in the nerve monitoring system market. Among these business strategies, mergers and acquisitions, were the most widely adopted growth strategies by players to strengthen their product portfolios and to remain competitive in the market.
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