The global neurosurgery market size is expected to reach USD 4.91 Billion at a revenue CAGR of 4.6% in 2030, according to latest analysis by Emergen Research.
The global neurosurgery market size is expected to reach USD 4.91 Billion at a revenue CAGR of 4.6% in 2030, according to latest analysis by Emergen Research. The growth of this market is mainly driven by the rapidly growing geriatric population, increasing prevalence of neurological disorders, and the subsequent growth in demand for minimally invasive surgeries. However, the high cost of neurosurgery procedures and lack of skilled neurosurgeons are expected to restraint market growth to a certain extent during the forecast period.
Rising prevalence of neurological disorders is expected to be a key driver for market growth over the forecast period. According to the National Institute of Neurological Disorders and Stroke (NINDS), around 6.21 million people in the U.S. were suffering from Alzheimer’s disease in 2016. Furthermore, according to the World Health Organization (WHO), around 50 million people worldwide were suffering from epilepsy in 2015.
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Technological advances in neurosurgery are expected to be another key driver for the market growth. For instance, the development of sophisticated neurosurgical navigation systems, which help surgeons to accurately locate the target area during surgery and minimize damage to surrounding tissues, is expected to fuel market growth. In addition, the development of minimally invasive neurosurgical procedures is expected to offer growth opportunities for market players over the forecast period.
Companies operating in the neurosurgery market are focusing on adoption of strategic developments such as product launches and mergers and acquisitions to gain a competitive edge in the market. For instance, in February 2017, DePuy Synthes Inc., launched the OASIS Midline Occiput Plate System for trauma patients requiring fixation of fractures at the base of the skull. Moreover, in September 2016, B. Braun Melsungen AG acquired Aesculap Implant Systems, LLC to expand its product portfolio in the neurosurgery market.
Some Key Highlights in the Report:
- A few key players in the market include Braun SE, Medtronic, Medical Device Business Services, Inc. (J&J Subsidiary), Boston Scientific Corporation, Stryker, Terumo Corporation, Integra LifeSciences, Penumbra Inc., Adeor Medical AG, Resonetics, and Clarus Medical LLC.
- Based on product, the market is categorized into surgical instruments and neurosurgical visualization systems. The surgical instruments segment accounted for the largest share of the global neurosurgery market in 2018. The large share of this segment can be attributed to the increasing adoption of minimally invasive surgeries (MIS) and technological advancements in surgical instruments.
- On the basis of procedure, the neurosurgery market is classified into open surgery and minimally invasive surgery (MIS). The MIS segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment can be attributed to factors such as shorter hospital stay, reduced trauma to the body, low blood loss, and fewer chances of infection compared to open surgery.
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- The global neurosurgery market is segmented based on application into degenerative disorders, trauma, tumor, vascular disorders, and others. The degenerative disorders segment accounted for the largest share of the global neurosurgery market in 2018. Factors such as the growing geriatric population and the subsequent rise in the number of degenerative disorders are expected to drive market growth during the forecast period.
- Geographically, the neurosurgery market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America accounted for the largest share of this market in 2018. The large share of this region can be attributed to the growing geriatric population, rising prevalence of neurological disorders, and the subsequent increase in demand for minimally invasive surgeries in this region.
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Emergen Research has segmented the global neurosurgery market based on surgery type, device type, application, end-use, and region:
- Surgery Type Outlook (Revenue, USD Billion; 2019-2030)
- Functional Neurosurgery
- Neuro-oncology
- Neurotraumatology
- Neurovascular Surgery
- Pediatric Neurosurgery
- Spine Surgery
- Others
- Device Type Outlook (Revenue, USD Billion; 2019-2030)
- Neuro Interventional Devices
- Neurovascular Embolization Devices
- Embolization Coils
- Liquid Embolic Systems
- Flow Diversion Stents
- Aneurysm Clips
- Neurovascular Coiling Assist Devices
- Coiling Assist Stents
- Coiling Assist Balloons
- Neurovascular Thrombectomy Devices
- Stent Retrievers
- Aspiration Retrievers
- Microcatheters
- Intracranial Stents
- Others
- Neurovascular Embolization Devices
- Neuroendoscopes
- Flexible Neuroendoscopes
- Rigid Neuroendoscopes
- Neurosurgical Drills
- Pneumatic Neurosurgical Drills
- Electrical Neurosurgical Drills
- Radiosurgery Systems
- Linear Accelerator Radiosurgery Systems
- GammaKnife Radiosurgery Systems
- Dura Substitutes
- Biological Dura Substitutes
- Synthetic Dura Substitutes
- Neurosurgical Ablation Devices
- MRI Guided Focused Ultrasound Systems
- MRI Guided Laser Therapy Systems
- MRI Guided RF Ablation Systems
- Neurosurgery Instruments
- Tissue Retractors
- Forceps
- Head Frames
- Cervical Plating systems
- Perforators
- Neuro Interventional Devices
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Cancerous Brain
- Spine And Skull Base Tumors
- Skull Fractures
- Traumatic Brain Injuries
- Craniofacial Trauma
- Spinal Cord Injuries
- Hydrocephalus
- Pediatric Brain Tumors
- Craniosynostosis
- Spinal Cord Tumors
- Syringomyelia
- Chiari Malformation
- Parkinson’s Disease
- Tourette’s Syndrome
- Others
- End Use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Ambulatory Surgical Centers
- Specialized Neurological Institutes
- Others
- Regional Outlook (Revenue, USD Billion; 2019–2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of Middle East & Africa
- North America
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Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend’s existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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