Industry Outlook

The global neurosurgery devices market held US$ 12,454.2 Mn in 2017 and expected to grow at compound annual growth rate (CAGR) of 8.2% during the forecast period from 2018 to 2026. The market is set to grow during the forecast period owing to influx of novel neurosurgical devices and growing inclination towards minimally invasive surgeries. Moreover, growing incidences of spinal disorders, traumatic injuries and endovascular surgeries are few of the major factors for the growth of the market. Rising prevalence and procedures related to brain tumors are also expected to drive the market for neurosurgery devices market. According to National Brain Tumor Society, it is projected that 78,980 new cases of malignant and non-malignant brain tumor and CNS tumors were be diagnosed in the U.S. in 2018. Growing cases of brain aneurysm is further expected to assist the market growth. As per estimates by Brain Aneurysm Foundation, 6 million people in the United States of 1 in 50 people have an unruptured brain aneurysm. Rising life expectancy and aging population will further increase the prevalence of various neurological disorders, thereby driving the market of neurosurgery devices market. Established market players such as Medtronic, Intergra LifeSciences, Aesculap have a broader product portfolios are focusing on development of minimally invasive surgical devices, while new entrants and niche players like Vycor and NICO Corporation are focusing innovative products.

"Minimally Invasive Neurosurgical Devices to Drive the Market"

Cerebrospinal fluid management devices and neurostimulation devices held a significant share in neurosurgery devices market and expected to drive the market through the forecast period. The growth is driven by innovation in these segments, for instance, uptake of antimicrobial CSF management devices and minimally invasive procedures drive the market. Minimally invasive neurosurgical devices have also been proven to improve patient outcomes, reduce hospitalization and overall cost of the procedure. Devices like NICO’ Myriad and Penumbra Apollo neurosurgical evacuation devices can successfully remove intracranial hemorrhage using minimally invasive technique. Neuroendscopes and aneurysm clips will exhibit a tremendous growth during the forecast period. However, requirement of high skill training, and availability of these devices in emerging countries will act as major hindrance to the market.

The key players currently engaged in neurosurgery devices market include Medtronic PLC, B. Braun Melsungen AG, Stryker Corporation, Boston Scientific Corporation, DePuy Synthes, Inc., Integra LifeSciences, Biotronic among others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Neurosurgery Devices market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Neurosurgery Devices market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Neurosurgery Devices market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Neurosurgery Devices market?
• Which is the largest regional market for Neurosurgery Devices market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Neurosurgery Devices market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Neurosurgery Devices market worldwide?