The Neuromuscular Transmission Monitor Market is showing consistent growth, projected to reach USD 2.6 billion by 2033. This represents a significant increase from the 2022 market size of USD 1.8 billion. The market is expected to maintain this momentum with a CAGR (Compound Annual Growth Rate) of 3.4% from 2023 to 2033.
Electrodes Remain Dominant Product Segment:
Electrodes, a crucial component of NMT, continue to hold the leading share of the market, accounting for approximately 54.7% of the value in 2022. This segment is expected to see further growth, albeit at a slower pace, with a projected CAGR of close to 1.6% by 2033.
The global prevalence of neuromuscular disorders is not uniform and can vary significantly. A handful of the common neuromuscular disorders include amyotrophic lateral sclerosis (ALS), muscular dystrophy, myasthenia gravis, and Charcot-Marie-Tooth disease.
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The prevalence of these and other neuromuscular disorders directly influences the demand for neuromuscular transmission monitors. These monitors are essential for diagnosing and monitoring the progression of the disorders, assessing treatment efficacy, and optimizing patient care. This includes neuromuscular transmission monitors, which are essential for diagnosing and monitoring patients with neuromuscular disorders.
Increased healthcare spending allows hospitals and clinics to adopt advanced and up-to-date medical equipment, including the latest neuromuscular transmission monitoring devices. Advancements in sensor technology and signal processing can lead to more precise and reliable measurements of neuromuscular function.
High-precision monitors are crucial for diagnosing and monitoring patients with neuromuscular disorders. User-friendly interfaces and touchscreens would make neuromuscular transmission monitors more accessible to healthcare professionals, reducing the learning curve and improving efficiency in clinical settings.
Key Takeaways from the Neuromuscular Transmission Monitor Market Study:
- By product, electrodes contributed around US$ 245.5 million in 2022.
- By technology, accelerography (ACG) contributed around US$ 199.9 million in 2022.
- By end user, hospitals contributed around US$ 191.7 million in 2022
- By region, North America held the dominant share in the world in 2022, contributing around US$ 658.1 million.
- The United States is expected to surge at a CAGR of 1.7% by 2033.
- The neuromuscular transmission monitor market is projected to reach a valuation of US$ 2,625.1 million by 2033.
“Increasing awareness among healthcare professionals about the benefits of neuromuscular monitoring and educational efforts to promote its use has contributed to market growth,” opines Sabyasachi Ghosh Associate Vice President at Future Market Insights (FMI)
Neuromuscular Transmission Monitor Market Competitive Landscape:
Companies specializing in medical device manufacturing would partner with research institutions or universities to jointly develop innovative neuromuscular transmission monitoring technologies. Leading companies are also focusing on mergers, partnerships, product developments, and new launches to expand their reach.
Neuromuscular Transmission Monitor Market Key Companies:
- GE HealthCare
- B. Braun Melsungen AG
- Xavant Technology
- Drägerwerk AG & Co. KGaA
- Nihon Kohden Corporation
- Medtronic Plc.
- RGB Medical Devices
- Senzime AB
- IdMed
- Koninklijke Philips N.V.
- Blink Device Company
- Natus Medical Incorporated
For instance,
- In June 2022, GE Healthcare and Medtronic signed a partnership agreement to enable access to personalized care by delivering advanced patient monitoring solutions on the CARESCAPE platform.
- In November 2022, Xavant Technology received FDA approval for the expansion of the sensor technology in their STIMPOD range of Quantitative NMT Monitors to include electromyography (EMG).
- In July 2020, a division of Ipsen, Ipsen Biopharmaceuticals, announced that the FDA authorized the use of Dysport (abobotulinumtoxinA) in juvenile patients on a larger scale.
Neuromuscular Transmission Monitor Market Outlook by Category:
By Product:
- Nerve Stimulating Devices/Monitors
- Electrodes
- Needle Electrode
- Surface Electrode
- Accessories
- Sensors with Cables
- Extension Cable
By Technology:
- Accelerography (ACG)
- Electromyography (EMG)
- Mechanomyography (MMG)
- Kinemyography (KMG)
By End-user:
- Hospitals
- Specialty Clinics
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- East Asia
- South Asia and Pacific
- Western Europe
- Eastern Europe
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments based on Source, Application, Sales Channel, and End Use over the next 10-years.
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