Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market to Grow on Account of Rising Incidences of Thyroid Cancer in the Region

 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.

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.

Get a Sample PDF of Western Europe Intraoperative Neuromonitoring (IONM) Electromyograph (EMG) Devices Market Report@ https://www.researchnester.com/sample-request-3433

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