The Latin America, Middle East and Africa Nerve Monitoring Devices Market would witness market growth of 9.6% CAGR during the forecast period (2023-2030).
Neurosurgery involves treating people with injuries, diseases, or disorders of the spinal column, brain, spinal cord, and peripheral nerves within all body parts. The neurosurgery segment of the market is expected to have a positive impact on the expansion of the segment, owing to the rising burden of neurological diseases and disorders around the region, which may result in nerve damage, leading to the increasing volume of surgical procedures creates the need of nerve monitoring system, thus boosting the growth in the market over the forecast period.
There is a growing burden of neurodegenerative diseases, such as Alzheimer's and Parkinson's, Huntington's, and motor neuron diseases, among others, in the older population. Thus, this leads to progressive neural dysfunction and toxicities, increasing the demand for effective nerve modulation devices thereby driving growth in the studied market. Thus, with the increasing geriatric population, the burden of neurological diseases may increase and boost the segment's growth during the forecast period. Due to the growing burden of Alzheimer's Disease, brain surgeries are expected to increase, creating the need for a nerve monitoring system over time. Additionally, product approvals in the studied market will expand the product offerings and introduce technologically advanced products, contributing to the market growth.
According to the National Library of Medicine, dementia is a prevalent condition in Arab countries. In 2019, these conditions affected between 1.1% and 2.3% of those aged 50 and older and between 13.5% and 18.5% of those aged 80 and older. It can assist healthcare professionals, and researchers in studying the nervous system and its functioning. The increasing prevalence of Alzheimer's disease in the United Arab Emirates (UAE) can contribute to developing the market in the region. The above aspects will lead the market positively in this region.
The Brazil market dominated the LAMEA Nerve Monitoring Devices Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $35.2 Million by 2030. The Argentina market is showcasing a CAGR of 10.2% during (2023 - 2030). Additionally, The UAE market would register a CAGR of 9.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Nerve Monitoring Devices Market is Projected to reach USD 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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