The global neurosurgery devices market was worth US$ 12,454.2 million in 2017 and is expected to grow at an 8.2% compound annual growth rate (CAGR) from 2018 to 2026. The market is set to grow during the forecast period owing to the influx of novel neurosurgical devices and the growing inclination towards minimally invasive surgeries. Moreover, growing incidences of spinal disorders, traumatic injuries, and endovascular surgeries are a few of the major factors driving the growth of the market. Rising prevalence and procedures related to brain tumors are also expected to drive the market for neurosurgery devices.
According to the National Brain Tumor Society, it is projected that 78,980 new cases of malignant and non-malignant brain tumors and CNS tumors will be diagnosed in the U.S. in 2018. Growing cases of brain aneurysms are further expected to assist market growth. According to estimates by the Brain Aneurysm Foundation, 6 million people in the United States—or 1 in 50 people—have an unruptured brain aneurysm. Rising life expectancy and an aging population will further increase the prevalence of various neurological disorders, thereby driving the market for neurosurgical devices. Established market players such as Medtronic, Integra Lifesciences, and Aesculap have broader product portfolios and are focusing on the development of minimally invasive surgical devices, while new entrants and niche players like Vycor and NICO Corporation are focusing on innovative products.
Market Synopsis
Minimally Invasive Neurosurgical Devices to Drive the Market
Cerebrospinal fluid management devices and neurostimulation devices held a significant share of the neurosurgery devices market and were expected to drive the market through the forecast period. The growth is driven by innovation in these segments; for instance, the uptake of antimicrobial CSF management devices and minimally invasive procedures drives the market. Minimally invasive neurosurgical devices have also been proven to improve patient outcomes, reduce hospitalization, and lower the overall cost of the procedure. Devices like NICO's Myriad and Penumbra's Apollo neurosurgical evacuation devices can successfully remove intracranial hemorrhage using minimally invasive techniques. Neuroendoscopes and aneurysm clips will exhibit tremendous growth during the forecast period. However, the requirement for high-skill training and the availability of these devices in emerging countries will act as major hindrances to the market.
Periods of History and Forecast
This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments was calculated for the forecast period from 2018 to 2026.
Report Scope by Segments
The Neurosurgery Devices Market Report provides quantitative analysis as well as the most recent market trends. The market is segmented based on device type and geography.
The market is studied in order to understand the current dynamics and future trends in the global neurosurgery devices market. The study includes market size and forecasts for all considered segments presented in the report for the period from 2016 to 2026, along with respective compound annual growth rates (CAGRs) for the forecast period from 2018 to 2026, considering 2017 as the base year. The key players currently engaged in the neurosurgery devices market include Medtronic PLC, B. Braun Melsungen AG, Stryker Corporation, Boston Scientific Corporation, DePuy Synthes, Inc., Integra LifeSciences, and Biotronic, among others.
Key questions are answered in this report.
How will the global market for neurosurgical devices perform during the forecast period from 2018 to 2026?
What are the latest trends in the neurosurgery devices market and valuable opportunities for key players?
Who are the leading players in the global neurosurgery devices market?
Which region leads and grows the most in the global neurosurgery devices market?
What are the drivers and restraints governing the global market for neurosurgical devices?
What are the technological advancements in the global market for neurosurgical devices?
Frequently Asked Questions:
The market for Neurosurgery Devices Market is expected to reach US$ 12,454.2 Mn by 2026.
The Neurosurgery Devices Market is expected to see significant CAGR growth over the coming years, at 8.2%.
The report is forecasted from 2018-2026.
The base year of this report is 2017.
Medtronic PLC, B. Braun Melsungen AG, Stryker Corporation, Boston Scientific Corporation, DePuy Synthes, Inc., Integra LifeSciences, and Biotronic are some of the major players in the global market.
