The global nerve monitoring devices market size was valued at USD 1.3 billion in 2022 and is expected to reach USD 2.0 billion by 2030, growing at a CAGR of 5.3% from 2023 to 2030. Growth is primarily driven by the rising incidence of neurological disorders and the increasing demand for minimally invasive surgeries.
According to statistics published by the World Health Organization (WHO) in February 2023, around 50 million people worldwide suffer from epilepsy, making it the most common neurological disorder. Furthermore, people with epilepsy face a risk of early death up to three times higher than the general population.
Nerve monitoring devices enable surgeons to identify and track motor nerve function during general and high-risk surgical procedures, significantly reducing the chances of nerve injury. These devices are widely used in surgeries involving the spine, brain, or peripheral nerves. By combining advanced hardware with intuitive software, they help surgeons perform complex surgeries while ensuring nerve preservation and patient safety.
Key Market Highlights:
- North America dominated the market in 2022 with a revenue share of approximately 46.0%.
- Asia Pacific is projected to grow at the fastest CAGR of 6.7% during the forecast period.
- By product, the monitors segment led the market in 2022 with the largest revenue share.
- By technology, the electroencephalography (EEG) segment accounted for 65.1% of the revenue share in 2022.
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Market Performance:
- 2022 Market Size: USD 1.3 Billion
- 2030 Projected Market Size: USD 2.0 Billion
- CAGR (2023–2030): 5.3%
- North America: Largest market in 2022
- Asia Pacific: Fastest growing market
Prominent Companies & Market Dynamics:
The nerve monitoring devices market is highly competitive, with companies focusing on product launches, FDA approvals, and acquisitions to expand their global presence.
- In May 2021, Neurosign, a UK-based pioneer in intraoperative nerve monitoring solutions, launched the V4 system, designed to monitor spinal nerve roots and cranial nerves during surgeries.
- In April 2023, Neuspera Medical (U.S.) received FDA approval for its next-generation ultra-miniaturized system for peripheral nerve stimulation (PNS). This wireless and minimally invasive platform provides greater versatility than traditional PNS technologies.
Key Companies:
- Medtronic Plc.
- NuVasive, Inc.
- Natus Medical Inc.
- Neuspera Medical
- Langer Medical GmbH
- Neurosign Surgical
- Cadwell Laboratories
- Compumedics Limited
- Electrical Geodesics Inc.
- Nihon Kohden
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Conclusion
The global nerve monitoring devices market is set to grow steadily, driven by the increasing prevalence of neurological conditions, a rising preference for minimally invasive surgeries, and continuous technological advancements. With expanding adoption in both developed and emerging regions, nerve monitoring devices are expected to play a critical role in enhancing surgical outcomes and patient safety through 2030.
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