The global neurosurgery surgical power tools market size is anticipated to reach USD 1.44 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.6%. Increasing incidence of Traumatic Brain Injuries (TBI), Acquired Brain Injuries (ABI), other neurological disorders, and increasing adoption of minimally invasive neurosurgeries is anticipated to aid growth.
TBIs, which occur due to sports injuries or in serious car accidents, form one of the key factors expected impel growth. In the U.S., every year, around 2.6 million people suffer from TBI or similar type of brain injury. According to American Association of Neurosurgical Surgeons, in the U.S., around 1.7 million TBI cases are diagnosed each year. In addition, according to National Stroke Association, approximately 130,000 Americans die from stroke each year. In addition, TBI is a major concern among the geriatric population, with an increasing rate of death and hospitalization linked to it.
Technological advancements such as the Medtronic Stealth Station S8, which is a brand new tracking tool for neurosurgery systems, are driving the market. This system includes 3D cameras and electromagnetic sensors that enable enhanced tracking. It can easily connect to intrasurgical CT scanners and MRIs. Thus, growth can be attributed to the technological advancements and increasing adoption of minimally invasive procedures in neurosurgeries.
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Key Takeaways from the report:
- Pneumatics dominated the power type segment in 2018. This can be attributed to increasing number of patients suffering from head and skull surgeries
- Drills dominated the tools type segment in 2018 with the highest share, owing to increasing adoption of minimally invasive neurosurgeries, such as craniotomy
- North America dominated with the highest revenue share in 2018, owing to availability of skilled neurosurgeons and technological advancements
- The key players are introducing technologically enhanced products to gain competitive advantage over others.
- In March 2017, Stryker launched its System 8 power tools series, which comprise sagittal saws, reciprocating saws, sternum saws, and rotary drills
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Grand View Research, Inc. has segmented the global neurosurgery surgical power tools market on the basis of tools type, power type, and region:
Neurosurgery Surgical Power Tools, Tools Type Outlook (Revenue, USD Million, 2015 – 2026)
Neurosurgery Surgical Power Tools Power Type Outlook (Revenue, USD Million, 2015 – 2026)
Neurosurgery Surgical Power Tools Regional Outlook (Revenue, USD Million, 2015 – 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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