The Global Neurosurgery Market size is expected to reach USD 4.91 Billion at a revenue CAGR of 4.6% in 2030, according to latest analysis by Emergen Research. The market revenue growth is primarily driven by factors such as increased utilization of neurovascular surgery, attractive medical reimbursements, growth of healthcare system throughout countries, and development of new neurovascular devices. Also, after heart illness, neurological ailments are regarded as the second most common cause of mortality worldwide. According to World Health Organization research, with rising prevalence of lifestyle illnesses, such as high blood pressure, obesity, and aging-related physiological changes in the senior population, approximately 50 million patients are at risk of acquiring neurovascular/neurological diseases. Furthermore, increasing prevalence of neurological illnesses will drive market revenue growth over the forecast period
Apart from this, companies operating in the neurosurgery market are focusing on adoption of strategic developments with key players investing significantly in R&D to develop more advanced neurosurgery systems for customers in developing countries. This is another factor driving market revenue growth. Besides consumers’ preferences, governments, and public healthcare organizations should increase support for development of neurosurgical devices to lessen financial strain. This helps manufacturers to implement technological advancements in neurosurgical devices that support market revenue growth during the forecast period. However, high cost of neurosurgical equipment and device recommendations are two important obstacles that could hamper industry expansion.
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Some Key Highlights in the Report
On 15 March 2022, Elekta entered into a collaborative agreement with IBA to optimize Quality Assurance (QA) solutions. The radiation therapy departments and clinics using Elekta’s treatment delivery systems benefit from QA solutions that are designed for these devices by streamlining workflows and improving access to measurement data.
The neuro-interventional devices segment accounted for largest revenue share in 2021. This can be attributed to the fact as brain aneurysms and hemorrhages are becoming more common among population. National Health Service (NHS), a publicly funded healthcare system, reports that several factors, including smoking, severe head trauma, cocaine abuse, elevated blood pressure, and others, will increase risk of developing brain aneurysms in general population and consequently increasing demand for neurovascular embolization devices.
The hospitals segment accounted for a significant revenue share in 2021. Hospitals are establishing neurosurgical setups to better address consumer demands while increasing profit margins, since they understand the potential of channel. Companies operating as manufacturers of neuro-surgical devices have expanded their Direct-To-Consumer (DTC) businesses to meet rise in demand for neurosurgery. Moreover, neurosurgical device manufacturers are creating and combining technologies for enhanced endoscope-assisted neurosurgery, to deliver effective minimally invasive surgeries, operative procedures, clinical advancements, and new technology developments.
The Asia Pacific market is expected to register fastest revenue CAGR during the forecast period. Growing preference for western lifestyles, which is driven by hectic schedules and busy lifestyles, is creating a demand for the market. Population is more inclined to neurological disorders; hence, neurosurgery is required to keep themselves healthy and fit for those hectic schedules. Furthermore, Japan is the largest source of revenue in this region and it is anticipated that it will continue to lead, owing to greater knowledge and treatment of neurovascular illnesses, over the forecast period.
A few key players in the market include Braun SE, Medtronic, Medical Device Business Services, Inc. (J&J Subsidiary), Boston Scientific Corporation, Stryker, Terumo Corporation, Integra LifeSciences, Penumbra Inc., Adeor Medical AG, Resonetics, and Clarus Medical LLC.
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Emergen Research has segmented the global neurosurgery market based on surgery type, device type, application, end-use, and region:
Surgery Type Outlook (Revenue, USD Billion; 2019-2030)
Device Type Outlook (Revenue, USD Billion; 2019-2030)
Neuro Interventional Devices
Neurosurgical Ablation Devices
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Application Outlook (Revenue, USD Billion; 2019-2030)
Spine And Skull Base Tumors
Traumatic Brain Injuries
Spinal Cord Injuries
Pediatric Brain Tumors
Spinal Cord Tumors
End Use Outlook (Revenue, USD Billion; 2019-2030)
Ambulatory Surgical Centers
Specialized Neurological Institutes
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Regional Outlook (Revenue, USD Billion; 2019–2030)
Rest of Europe
Rest of APAC
Rest of LATAM
Middle East & Africa
Rest of Middle East & Africa
Key Questions Answered in the Report:
What will be the estimated growth rate of the Neurosurgery market by 2030?
Who are the prominent distributors, vendors, and manufacturers of the market?
What are the driving and restraining factors of the growth of the Neurosurgery market throughout the forecast period?
What are the current and future market trends of the Neurosurgery market?
What are the sales and price analysis of the product by types, applications, and regions?
What are the expected opportunities for the companies and new entrants in the coming years?
The report demonstrates the progress and advancement achieved by the global Neurosurgery market, including the historical analysis and progress through forecast years. The report provides valuable insights to the stakeholders, investors, product managers, marketing executives, and other industry professionals. The report provides an accurate estimation by applying SWOT analysis and Porter’s Five Forces analysis. The report focuses on current and future market growth, technological advancements, volume, raw materials, and profiles of the key companies involved in the market.
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About Emergen Research
Emergen Research is a Marketresearch and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer Marketintelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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