Global Neurosurgery Devices Market
Global neurosurgery devices market report provide a comprehensive outlook on neurosurgery devices worldwide with specific focus on key region such as North America, Europe, Asia Pacific, Latin America and MEA. The report on global neurosurgery devices market gives historical, current and future market size (US$ Mn) on the basis of product, application, end user, and geography. This study analyses the global neurosurgery devices market dynamics in a detailed manner to identify current trends and drivers, growth opportunities and potential challenges to the key stakeholders in the operating market. In addition, PBI has analyzed the global market to better equip customers with possible investment opportunities across region and consumer unmet needs.
Global Neurosurgery Devices Market:
It is estimated that the market for neurosurgery devices will rise from US$ 7.6 billion in 2019 to US$ 14.1 billion in 2026, at a CAGR of 13.0%. One of the main factors driving the growth of the market is the growing prevalence of different neurological disorders around the globe. In addition, the growing geriatric population, which is more vulnerable to neurological and other medical conditions, is also fueling growth in the market. There is also a growing consciousness of health among the masses and consciousness of the existence of successful treatment options for neurological disorders, leading to the growth of the sector. Consequently, neuroendoscopy surgery is increasingly favored over traditional brain surgery. On the other hand, the demand for neurosurgical devices is likely to be limited by the high cost of neurosurgical devices and the shortage of qualified specialists in developing and underdeveloped countries.
Rapid increase in prevalence of Parkinson’s disease fuels the demand for the market:
In the diagnosis and treatment of neurological disorders of the spinal cord, peripheral nervous system and brain, neurosurgery instruments are primarily used. Neurodegenerative disorders such as Parkinson’s disease, Alzheimer’s disease, neuropathic pain, brain tumors are rapidly growing and are likely to boost demand for potential neurosurgery products. For example, after Alzheimer’s disease, Parkinson’s disease is the second most prevalent neurodegenerative disorder that affects 10 million people globally. Due to the decrease in dopamine production in the brain, it is a progressive neurological disorder which causes stiffness, slowness and tremors. Thus, the rapid rise in Parkinson’s disease prevalence boosts the growing demand for neurosurgery devices.
North America accounted for the largest share of the neurosurgery devices market:
In 2019, North America led the demand for global neurosurgery instruments. The high prevalence of neurological disorders in the area, such as Parkinson’s disease, brain tumors, Alzheimer’s disease, spinal cord injuries and neuropathic pain, is a key factor that is expected to drive market growth in the coming years. There were nearly 5.8 million Americans living with Alzheimer’s disease in 2019, according to the Alzheimer’s Association. The prevalence of the rapidly increasing elderly population in the U.S. is also projected to increase.
Key players profile in global neurosurgery devices market include-
- Braun Melsungen
- Boston Scientific Corporation
- Nevro Corporation
- KARL STORZ
- Ackermann Instrumente
- Machida Endoscope
- Adeor Medical
- In 2019, Boston Scientific Corporation (US) launched Vercise PC and Vercise Gevia Deep Brain Stimulation (DBS) Systems, featuring the Vercise Cartesia Directional Lead.
- In 2018, Nevro Corporation (US) received the US FDA approval for its next-generation Senza II Spinal Cord Stimulation (SCS) System.
Key findings of report:
- Global neurosurgery devices market expanding at significant CAGR over 2020 to 2026 owing to growing prevalence of different neurological disorders around the globe and the growing geriatric population.
- North America accounted for larger share of market revenue based on the region and projected a gain in market revenue over a forecast period.
- Players focusing on innovation of technologies and collaboration strategies to retain market position in global market.
Key features of the report:
- The report provides granular level information about market size, regional market share, historic market (2015-2019) and forecast (2020-2026).
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market.
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market.
- The report provides plethora of information about market entry strategies.
- Neuromodulation devices
- Neuroendoscopy devices
- Spinal cord stimulation
- Deep brain stimulation
- Parkinson’s disease
- Ambulatory surgical centers
- Rest of Europe
- Southeast Asia
- Rest of APAC
- Rest of SA
- Saudi Arabia
- South Africa
- Rest of MEA