Neurosurgery Surgical Power Tools Market: Drill Segment to Expand Significantly
Neurosurgery Surgical Power Tools Market: Introduction
- Neurosurgery is a procedure of diagnosis and treatment of neurological disorders, such as Alzheimer’s disease, Parkinson’s disease, stroke, aneurysms, degenerative diseases, and trauma to the spinal cord and brain. Neurosurgery surgical power tools help surgeons in performing complex surgeries with precision.
- Neurosurgery surgical power tools are used in the process of neurosurgeries and minimally invasive neurosurgeries. These devices include drills, saw, reamer, etc.
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Emerging Economies of Asia Pacific and Latin America to Offer Growth Opportunities
- Key companies operating in the global neurosurgery surgical power tools market are focused on expanding their product portfolio by developing new products with enhanced effectiveness and advanced features
- Emerging economies are major markets for neurosurgery surgical power tools due to advancements in the health care infrastructure of these economies
- Relatively high growth of the neurosurgery surgical power tools market in Asia Pacific can be attributed to a well-developed health care infrastructure, increase in health care expenditure, and rise in the number of local manufacturers providing innovative products at lower costs in the region
- Economic development, rise in disposable income of patients, and awareness about health care in Asia and Latin America are attracting major players to these regions
Key Drivers and Restraints of Global Neurosurgery Surgical Power Tools Market
- Increase in incidence of neurological disorders, growth in geriatric population, and rise in the number of neurosurgery performed is driving the global neurosurgery surgical power tools market. Moreover, rapid increase in the number of minimally invasive surgeries and increase in the purchasing power of hospitals are anticipated to boost the growth of the global neurosurgery surgical power tools market during the forecast period.
- Rapid adoption of technologically advanced health care devices for neurosurgery is projected to boost the growth of the global neurosurgery surgical power tools market in the near future
- Aging is associated with a large number of diseases and disorders. Majority of elderly people suffer from neurological disorders. According to the Administration for Community Living, geriatric population (65 years and above) in the U.S. stood at 46.2 million in 2014. Therefore, growth in aging population is likely to drive the global neurosurgery surgical power tools market during the forecast period.
- Existing market players are deploying advanced techniques and strategies to develop novel processes for the manufacturing of technologically enhanced neurosurgery surgical power tools. This is anticipated to propel the demand for neurosurgery surgical power tools during the forecast period.
- High cost of neurosurgery surgical power tools and lack of skilled professions are expected to restrain the growth of the global neurosurgery surgical power tools market during the forecast period
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North America to Lead Global Neurosurgery Surgical Power Tools Market
- In terms of region, the global neurosurgery surgical power tools market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounted for a leading share of the global market in 2018, owing to rapid progress in the health care industry as well as high adoption of advanced health care devices in the region. Moreover, increase in prevalence of neurological disorders and presence of a large number of manufacturers in the region are expected to boost the neurosurgery surgical power tools market in North America during the forecast period.
Key Manufacturers Operating in Global Market
The global neurosurgery surgical power tools was a consolidated market in 2018. Key manufacturers operating in the global market are:
- Medtronic Plc
- B. Braun Melsungen AG
- Aygun Co. Inc.
- Zimmer Biomet
- Stryker Corporation
- Johnson & Johnson Services, Inc.
- ACRA-CUT Inc.
- KARL STORZ SE & Co. KG
- De Soutter Medical
- ADEOR MEDICAL AG