Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market to Grow on Account of Rising Incidences of Thyroid Cancer in the Region; Market to Garner a Revenue of USD 140650 Thousand by 2029

New York, Dec. 10, 2021 (GLOBE NEWSWIRE) — According to the statistics by the International Agency for Research on Cancer of the World Health Organization (WHO), the estimated number of deaths caused due to thyroid cancer in Europe is anticipated to grow up to 5.2 Thousands amongst females and 3.1 Thousands in males by the end of 2040, up from 4.0 Thousands in females and 2.4 Thousands in males in the year 2020. Moreover, incidences of the disease amongst males is expected to grow up to 20.1 Thousands in 2040, up from 19.3 thousands in 2020. On the other hand, according to the statistics by the Eurostat, tonsillectomies performed in Belgium, Germany, Netherlands, Austria, and Switzerland touched 202.6 per 100000 inhabitants, 110 per 100000 inhabitants, 184.9 per 100000 inhabitants, 83.2 per 100000 inhabitants, and 104.4 per 100000 inhabitants respectively in the year 2018.

Research Nester has recently released a report titled “Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market” which focuses on the latest market trends, opportunities, growth drivers, and the restraining factors that are associated with the growth of the market for the forecast period of 2020-2029. The report also includes a detailed analysis of the prominent players in the market.

Thyroid cancer, which is a major cause of concern amongst individuals, is increasing at a rapid pace in Europe. With the increasing incidences of the disease, there is a rising need amongst individuals to treat the disease. Healthcare specialists use IONM devices to perform thyroid surgeries as it has numerous benefits, such as low risks on the nervous system during the surgical process and others. On the other hand, the increasing number of surgeries in Europe is also anticipated to drive the demand for medical devices, and in turn, drive the growth of the Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market during the forecast period. The market garnered a revenue of USD 73902.2 Thousand in 2020 and is further projected to touch USD 140650 Thousand by the end of 2029. The market is also anticipated to grow on account of the increasing advancements in healthcare, followed by the rising healthcare expenditure in the region. The World Bank, in one of its statistics, stated that the current health expenditure as a share of GDP in the European Union grew from 8.93% in the year 2007 to 9.854% in the year 2018.

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The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is segmented on the basis of 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. Out of the market in these nations, the market in Germany is anticipated to hold the highest market share during the forecast period and further generate a revenue of USD 26306.7 Thousand by the end of 2029, up from a revenue of USD 12267.7 Thousand in the year 2020. Moreover, the market in the country is also anticipated to grow with a CAGR of 8.8% during the forecast period. The growth of the market in the country can primarily be attributed to the increasing healthcare expenditure, along with the rising number of surgeries and medical procedures performed in the nation. In other statistics by the World Bank, the current health expenditure as a share of GDP in Germany increased from 10.251% in 2008 to 11.43% in 2018. Moreover, according to the statistics by the Statistisches Bundesamt, electromyography surgical and medical procedures performed on full-time in-patients in Germany in the year 2019 registered to 64896 numbers. On the other hand, the market in France is expected to hold the second-leading market share and further grow with a CAGR of 8.1% during the forecast period. The market, which garnered a revenue of USD 8868.2 Thousand in 2020, is further projected to reach USD 17939.1 Thousand by the end of 2029.

The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is segmented on the basis of procedure 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 highest market share during the forecast period and further garner revenue of USD 54803.6 Thousand by the end of 2029, up from USD 27538.2 Thousand in 2020. The segment is further projected to grow with a CAGR of 7.9% during the forecast period. In Germany, the segment is anticipated to garner the largest revenue of USD 11233.o Thousand by the end of 2029, up from a revenue of USD 5115.7 Thousand in the year 2020. Alternatively, the facial nerve tumor segment in the country is anticipated to grow with the highest CAGR of 9.7% during the forecast period. In France, the thyroidectomy segment garnered the largest market revenue of USD 4052.8 Thousand in the year 2020 and is further projected to touch USD 8503.1 Thousand by the end of 2029.

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The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is also segmented on the basis of end-user into hospital, ambulatory surgery centers, and others. Out of these segments, the hospital segment is anticipated to garner the largest market revenue of USD 81428 Thousand by the end of 2029, up from a revenue of USD 42581.9 Thousand in 2020. The segment is also anticipated to grow with a CAGR of 7.5% during the forecast period. Alternatively, the ambulatory surgery centers segment is anticipated to grow with the highest CAGR of 7.7% during the forecast period. In Austria, the ambulatory surgery centers segment is anticipated to grow with the highest CAGR of 8% during the forecast period, while the hospital segment is anticipated to hold the highest market share and further touch revenue of USD 3462.9 Thousand by the end of 2029, up from a revenue of USD 1782.5 Thousand in 2020. On the other hand, in Belgium, the hospital segment is projected to grow with the highest CAGR of 7.3% during the forecast period and further touch the largest revenue of USD 2823.6 Thousand by the end of 2029, up from USD 1497 Thousand in 2020.

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The Western Europe intraoperative neuromonitoring (IONM) electromyograph (EMG) devices market is also segmented on the basis of device type, and ENG types.

Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market, Segmentation by Device Type

• Capital Device
• Accessories
  • Tube
  • Electrode
    • Needle Electrode
    • Continuous Simulation Electrodes
  • Stimulating Probe

Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market, Segmentation by EMG Types

• Surface EMG
• Intramuscular EMG

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.

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