Global Neurosurgery Market Size, Trends & Analysis - Forecasts To 2026 By Product Type (Neuro-interventional devices, Cerebral spinal fluid (CSF) management devices, Neurological navigation systems, Neurosimulation services, Others), By Region (North America, Europe, Asia Pacific, CSA, MEA); Vendor Landscape, End User Landscape and Company Market Share Analysis & Competitor Analysis
Neurosurgery Market: Insights
The global neurosurgery market is estimated to witness a significant CAGR during the forecast period (2020-2026). Neurosurgery refers to the medical field dealing with the treatment and operation of the nervous system, including the head, spinal cord, spine, and nerves. Neurosurgery helps diagnose people with a brain tumor, head and spinal cord injuries due to accidents, neck and spine pain, and irregular spinal fluid movement. The growing prevalence of neurological diseases such as subarachnoid hemorrhage, intracerebral hemorrhage (ICH), traumatic brain injury, chronic pain, depression, Parkinson's, ischemia, and transnasal, among others is propelling the market growth. The growth of the market is also anticipated to increase due to an increase in the demand for MI surgeries along with rising recognition of innovative products among end-users. Moreover, the growing technological advancements in surgical equipment is one of the significant factor to drive the neurosurgery market during the forecast period. However, the high cost of devices or equipment, lack of skilled surgeons, and complications associated with neurovascular procedures are likely to hamper the market growth over the coming years.
Neurosurgery Market Size: By Product Type
Based on the product type, the global neurosurgery market is segmented into neuro-interventional devices, cerebral spinal fluid (CSF) management devices, neurosurgical navigation systems, neurostimulation services, among others. The neurostimulation services segment is expected to grow at a high CAGR during the forecast period. Increasing adoption of neurostimulation services in the treatment of neurological disorders and a growing number of brain surgeries are some of the factors expected to drive the market growth.
Neurosurgery Market Size: By Region
Based on region, the global neurosurgery market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa. The North America region is expected to hold the largest market share in terms of revenue during the forecast period. The growing number of neurosurgical procedures performed in the region, technological advancements in surgical equipment, rise in healthcare expenditure is expected to propel the demand for neurosurgery during the forecast period. Furthermore, the Asia-Pacific region is expected to grow at a CAGR during the forecast period. Increased expenditure on research and development and increased awareness are some of the major factors driving the growth of the region.
Neurosurgery Market Share & Competitor Analysis
Some of the key players operating in the neurosurgery market are Codman & Shurtleff Inc., Medtronic Inc., Integra LifeSciences Corp., NeuroVista Corporation, Scopis GmbH, B. Braun Melsungen, Stryker Corp, BrainLab, Boston Scientific, Elekta AB, Cyberkinetics Neurotechnology Systems, Inc., Micromar, Neuros Medical, Inc., SPR Therapeutics, St. Jude Medical, Inc., Cyberonics, Inc., Karl Storz, and Synapse Biomedical Inc., among others.
Please note: This is not an exhaustive list of companies profiled in the report.
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The global Neurosurgery Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Neurosurgery Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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