Global Neurosurgery Devices Market by Product (Neuromodulation (Spinal Cord Stimulation, Deep Brain Stimulation) Neuroendoscopy), Application (Chronic Pain, Depression, Parkinson’s, Ischemia, Transnasal Neuroendoscopy), By Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Trend Analysis, Competitive Market Share & Forecast, 2015-25
- Published Date: October 2019
- Report ID: BWC19308
- Available Format: PDF
- Page: 125
Global Neurosurgery Devices Market: Overview
Neurosurgery is a medical surgery for treatment or diagnosis of patients suffering from diseases/disorders of the spinal cord/column, brain, and peripheral nerves within all parts of the body. Both adult and pediatric patient category comes under neurosurgical care, type of neurosurgery such as surgical and/or non-surgical care depend upon the injury or disease nature. The devices used for complex neurosurgery treatment are generally known as neurosurgery devices such as CSF management devices, and neurosurgical navigation devices. The key function of neurosurgery devices is prevention, treatment & diagnosis of various neurosurgical disorders/disease conditions such as Alzheimer's. Parkinson's, epilepsy, depression, traumatic brain injury, and other related spinal cord injuries. Technological advancement developed various neurosurgical devices for addressing unmet needs in the neurology field.
Global Neurosurgery Devices Market Forecast and Trends
The Neurosurgery Devices market anticipated reaching significant growth, with a considerable CAGR of 8.6%. Factors such as rising prevalence rate of neurological disorders/diseases, advantages over conventional brain surgeries & increasing R&D efforts for neuromodulation application base are driving the growth of the global neurosurgical device market with a significant growth rate. Increasing preference towards minimal invasive neurosurgery is becoming one of the growth driven factors in global neurosurgical devices during the forecast period of 2019-2025. Across the globe, the neurological disorder is leading cause for morbidity and disability, rising healthcare expenditure and infrastructure coupled with technological advancement in surgical devices over traditional devices offer significant opportunities for the market players for the growth of the global neurological devices market during the forecast period of 2019-2025.
Benefits of Neuroendoscopic Surgery Over Conventional Brain Surgery
In the conventional method of open surgery, the surgeon proceeds with the skull opening and creates a large opening to access the brain. Techniques involving smaller openings with the aid of microscopes and endoscopes are now being used as well. The neuroendoscopic surgery considered more effective and safer than conventional surgery in children with certain life-threatening conditions, including brain tumors. Cerebrospinal fluid management devices and neurostimulation devices share a commendable market share in the neurosurgery devices market and anticipated to drive the neurosurgical device market during the forecast period. Rising life expectancy and the aging population will further increase the prevalence of various neurological disorders, thereby driving the market of neurosurgery devices market.
Rising Prevalence of Neurological Diseases to Drive the Market
The rising prevalence rate of neurological diseases, the introduction of novel diagnostic technology for neurological diseases, and increasing awareness programs organized by governmental and non-governmental organizations are rising the demand for neurological devices in the global market. Minimally invasive neurosurgical devices are most preferred in the existing patient population and also been proven to improve patient outcomes, declining hospitalization, and overall cost of neurosurgery. Neurosurgery devices such as NICO' Myriad and Penumbra neurosurgical evacuation devices capable of the removal of intracranial hemorrhage using the minimally invasive technique.
High Cost of Neuroendoscopy Procedures and Equipment
The technological advancement in terms of surgery and devices directly linked with rising costs, which is the key factor anticipated to hamper the growth of the neurological device market in the forecasted period of 2019-2025.
Global Neurosurgery Devices Market: Product Type
Based on product type, the global neurosurgical device market is segmented into Neuroendoscopy and neuromodulation devices. The neuromodulation neurosurgical devices are further categorized into internal neuromodulation devices (Spinal Cord Stimulation Devices, Deep Brain Stimulation Devices, and Other Internal Neuromodulation Devices). In the existing trend, the major market share is shared by Internal Neuromodulation Devices with the increasing neurosurgical disorder prevalence rate, rising cases of brain surgery, increasing transcutaneous Neurostimulators demand, and advancement in technology anticipated to boost the global neurosurgery devices market in the upcoming years.
Global Neurosurgery Devices Market: Application Type
Based on the application, the global neurosurgery market is segmented into spinal cord stimulation (chronic pain, failed back surgery syndrome, and ischemia), deep brain stimulation, and neuroendoscopy applications. Amidst the application, Parkinson's disorder/disease anticipated to contribute to the significant market share in the global neuro disorder market in 2018, due to increasing cases of Parkinson's incidence. In addition, developing trends of R&D in deep brain stimulation contribute to the rising global market coupled with the geriatric population and rising rate of age-related neurological disorders.
Global Neurosurgery Devices Market: Regional Insights
Amidst geography, North America is anticipated to share a large market share with the key growth driving factors such as increasing rate of neurological surgeries, advancement in neurosurgical devices, increasing healthcare expenditure as well as the presence of reimbursement policies coupled with supporting healthcare infrastructure. Followed by North America, Asia-Pacific is expected to witness significant growth rate due to rising geriatric population, government initiatives, and rising consumer awareness with the enhancement in medical tourism in emerging economies, such as China and India, during the forecast period of 2019-2025.
The Objective of the Study:
To analyze and forecast the global neurosurgery devices market size of the market, in terms of value.
To examine the careful market segmentation and forecast the market size, in terms value, based on the region by segmenting the global neurosurgery devices market into five regions, namely, North America, Europe, Asia Pacific, Middle East & Africa, Latin America and their leading countries.
To outline, categorized and forecast the global neurosurgery devices market based on the product type, application and end user.
To examine competitive developments like technological advancement, services, and regulative framework within the global neurosurgery devices market.
To highlight the impact analysis of the factors, affecting the market dynamics such as drivers, restraints, opportunities, and challenges.
To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Scope of the Report
· Neuromodulation Devices
o Internal Neuromodulation Devices
§ Spinal Cord Stimulation Devices
§ Deep Brain Stimulation Devices
§ Other Internal Neuromodulation Devices
o External Neuromodulation Devices
· Neuroendoscopy Devices
· Spinal Cord Stimulation
o Chronic Pain
o Failed Back Surgery Syndrome
· Deep Brain Stimulation
o Parkinson's Disease
o Other DBS Applications
o Transnasal Neuroendoscopy
o Intraventricular Neuroendoscopy
o Transcranial Neuroendoscopy
· North America
· Asia Pacific
· Latin America
· Middle East & Africa
· Boston Scientific Corporation
· Johnson & Johnson Services, Inc.
· CONMED Corporation
· B. Braun Melsungen AG
· TERUMO CORPORATION
· Smith & Nephew
· Integra LifeSciences
· Other Prominent Player
Business Questions Answer by The Report
· How will the market drivers, restraints and opportunities affect the market dynamics?
· What will be the market size in terms of value and volume and market statistics with a detailed classification?
· Which segment dominates the market or region and one will be the fastest growing and why?
· A comprehensive survey of the competitive landscape and the market participant players
· Analysis of strategy adopted by the key player and their impact on other players.
Customization Scope for the Client
Client satisfaction is our first and last priority and that’s why BlueWeave Consulting offers customization according to Company’s specific needs. The following customization options are available for the report:
Additional Company Information
· With five additional company detail analysis
· Additional country analysis
· Detailed segment analysis
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