The Europe Nerve Monitoring Devices Market would witness market growth of 5.0% CAGR during the forecast period (2023-2030).
The increasing number of neurological diseases, such as epilepsy, is an essential factor driving market expansion. The rising geriatric population is a substantial factor in expanding neuromonitoring devices, as this demographic is more susceptible to age-related neurodegenerative disorders. Over the forecast period, technological advancements such as wearable devices with enhanced mobility and the capacity for round-the-clock monitoring are expected to boost demand for these devices. In addition, many patients with neurological disorders are undiagnosed; as a result, the government is promoting early detection, thereby increasing the market.
Technological developments allowed nerve monitoring device providers to transform their services and propel them to greater heights. These devices offer a seamless user experience due to their constant innovation and enhancement. The market's growth is expected to be aided by the introducing of innovative products, such as wearable devices that offer the advantages of round-the-clock monitoring and increased mobility.
Europe has a high demand for surgical procedures, including orthopedic, neurosurgery, and ear, nose, and throat (ENT) surgeries. Nerve monitoring devices are increasingly used in these surgeries to prevent nerve damage and reduce post-operative complications. Many European countries have well-established and advanced healthcare systems focusing on patient safety and quality of care. Europe has a significant aging population, is more susceptible to age-related health conditions, and may require surgical interventions. As healthcare systems strive to manage the growing disease burden, the demand for nerve monitoring devices will likely increase, driving market growth in the region.
The Germany market dominated the Europe Nerve Monitoring Devices Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $123.9 Million by 2030. The UK market is exhibiting a CAGR of 4.1% during (2023 - 2030). Additionally, The France market would experience a CAGR of 5.8% during (2023 - 2030).
Based on Technology, the market is segmented into Electroencephalogram (EEG), Electromyography (EMG), Electrocorticography (ECoG), and Evoked Potential (Somatosensory Evoked Potentials (SSEP), Transcranial Electrical Motor Evoked Potentials (TCeMEP), Brainstem Auditory Evoked Potentials (BAEP), Visual Evoked Potentials (VEP)). Based on Product, the market is segmented into Monitors, Electrodes, and Ancillary Products. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Nerve Monitoring Devices Market will Hit $1.8 Billion by 2030, at a CAGR of 5.2%
The market research report covers the analysis of key stakeholders of the market. Key companies profiled in the report include Medtronic PLC, NuVasive, Inc., Natus Medical Inc., Neuspera Medical, Inc., Brainlab AG, Checkpoint Surgical, Inc., Cadwell Industries, Inc., Compumedics Limited, Magstim EGI (Magstim, Inc.), and Nihon Kohden Corporation.
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