Healthcare & Pharmaceutical

Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market Segmentation by Device Type (Capital Equipment, and Accessories); by Procedure (Facial Nerve Tumor, Parotidectomy, Sub-mandibular Gland Dissection, Thyroidectomy, Parathyroidectomies, Goiter, and Neck Dissection); by EMG Types (Surface EMG, and Intramuscular EMG); and by End-User (Hospital, Ambulatory Surgery Centers, and Others) – Demand Analysis & Opportunity Outlook 2020-2029

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Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.


In The News

  • October 29, 2020: Medtronic plc announced that its NIM Vital nerve monitoring system has received the 510(k) clearance approval of the U.S. Food and Drug Administration (FDA).


Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market Highlights Over 2020 - 2029

The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is estimated to garner a revenue of USD 140650 Thousands by the end of 2029, up from a revenue of USD 73902.2 Thousands in 2020, by growing with a CAGR of 7.4% during the forecast period, i.e., 2020-2029. The growth of the market can primarily be attributed to the increasing efficacy of IONM, and the rising use of IONM in various surgeries, including spine, vascular, and ENT surgeries. IONM is used to reduce the risk of damage to the nervous system during surgeries, especially for thyroid and parathyroid surgeries. Moreover, the increasing cases of recurrent laryngeal nerve (RLN) injury, which is also known to be one of the highly reported and life-deteriorating complications in the thyroid and parathyroid surgery, is also anticipated to drive the market growth during the forecast period.

Western Europe Intraoperative Neuromonitoring Electromyograph Devices Graph

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The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is also anticipated to grow on account of the growing incidences of thyroid cancer across Europe, along with the increasing number of medical procedures performed in several countries in the region. According to the statistics by the International Agency for Research on Cancer, the number of new cases of thyroid cancer amongst males between the age group of 0 to over 85 years in Europe, is estimated to grow to 20.1 Thousands by the end of 2040, up from 19.3 Thousands in 2020. Moreover, mortality due to thyroid cancer amongst males and females is anticipated to touch 3.1 Thousands and 5.2 Thousands respectively by the end of 2040, up from 2.4 Thousands and 4.0 Thousands respectively in 2020. 

Incidences of New Thyroid Cancer Graph


Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market Regional Synopsis

The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is segmented by country into Austria, Belgium, Denmark, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, United Kingdom, and the Rest of Western Europe countries. Amongst these countries, the market in Germany is anticipated to hold the highest market share throughout the forecast period. The market in the country garnered a revenue of USD 12267.7 Thousands in the year 2020, and is further projected to reach USD 26306.7 Thousands by the end of 2029. The market in the region is further projected to grow with the highest CAGR of 8.8% during the forecast period. The growth of the market in the country can be primarily attributed to the growing healthcare expenditure in Germany, along with the increasing number of electromyography surgeries in the country. According to the statistics by the World Bank, the current health expenditure (% of GDP) in Germany increased from 9.888% in the year 2000 to 11.43% in the year 2018. Moreover, according to the statistics by the Statistisches Bundesamt, electromyography (EMG) surgeries and medical procedures performed on full-time in-patients in Germany registered to 64,896 numbers by the end of 2019. On the other hand, the market in France is anticipated to grab the second-leading market share and further generate a market revenue of USD 17939.1 Thousands by the end of 2029, up from USD 8868.2 Thousands in 2020.


Growth Drivers and Challenges Impacting the Growth of the Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market

Growth Drivers

  • Increasing Efficacy of IONM
  • Rising Number of Surgeries

Challenges

  • High Price of IONM
  • Lack of Skilled Professionals


Western Europe Intraoperative Neuromonitoring Electromyograph Devices Graph
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Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market Segmentation Synopsis

The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is segmented by device type into capital device and accessories. Out of these, the capital device segment is anticipated to hold the highest market share and also grow with the highest CAGR of 7.7% during the forecast period. On the basis of procedure, the market is segmented into facial nerve tumor, parotidectomy, submandibular gland dissection, thyroidectomy, parathyroidectomies, goiter, and neck dissection. Out of these segments, the thyroidectomy segment is anticipated to hold the largest market revenue of USD 54803.6 Thousand by the end of 2029, up from USD 27538.2 Thousand in 2020. The market is further segmented on the basis of type into surface EMG and intramuscular EMG, out of which, the surface EMG segment is anticipated to hold the highest market share and also grow with the highest CAGR of 7.5% during the forecast period. On the basis of end-user, the market is segmented into hospital, ambulatory surgery centers, and others. Out of these, the hospital segment is anticipated to garner the largest market revenue of USD 81428 Thousand by the end of 2029 by growing with a CAGR of 7.5% during the forecast period.


Key Companies Dominating the Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) market that are included in our report are inomed Medizintechnik GmbH, Dr. Langer Medical GmbH, Neurosign, Medtronic plc, and others.


Incidences of New Thyroid Cancer Graph

Key Questions Answered in the Report

1) What are the major factors driving the growth of the Western Europe intraoperative neuromonitoring electromyograph devices market?

Ans: The increasing efficacy of IONM is one of the major factors anticipated to drive the market growth.

2) What would be the CAGR of Western Europe intraoperative neuromonitoring electromyograph devices market over the forecast period?

Ans: The market is anticipated to attain a CAGR of 7.4% over the forecast period, i.e., 2020-2029.

3) What are the challenges affecting the Western Europe intraoperative neuromonitoring electromyograph devices market growth?

Ans: The high price of IONM is one of the major factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of Western Europe intraoperative neuromonitoring electromyograph devices market in future?

Ans: The market in France is anticipated to display significant business opportunities in the future.

5) Who are the major players dominating the Western Europe intraoperative neuromonitoring electromyograph devices market?

Ans: The major players in the market are inomed Medizintechnik GmbH, Dr. Langer Medical GmbH, Neurosign, Medtronic plc, and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) market?

Ans: The market is segmented by device type, procedure, EMG types, end-user, and by region.

8) Which segment captures the largest market size in end-user segment in the Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) market?

Ans: The hospital segment is anticipated to hold largest market revenue of USD 81428 Thousand by the end of 2029 and display significant growth opportunities.

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