According to a report, “Neurosurgery Surgical Power Tools Market Size, Share & Trends Analysis Report By Tools Type (Drill, Reamer, Saw, Others), By Power Type (Pneumatic, Electric, Battery-powered), By Region, And Segment Forecasts, 2019 – 2026”, published by Grand View Research, Inc.,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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Neurosurgery Surgical Power Tools Market Report Highlights
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Pneumatics dominated the power type segment in 2018. This can be attributed to increasing number of patients suffering from head and skull surgeries
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Drills dominated the tools type segment in 2018 with the highest share, owing to increasing adoption of minimally invasive neurosurgeries, such as craniotomy
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North America dominated with the highest revenue share in 2018, owing to availability of skilled neurosurgeons and technological advancements
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The key players are introducing technologically enhanced products to gain competitive advantage over others.
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In March 2017, Stryker launched its System 8 power tools series, which comprise sagittal saws, reciprocating saws, sternum saws, and rotary drills
Equipment Insights
Based on equipment, the market is segmented into therapeutic, diagnostic, and mobility assist. Therapeutic segment held the largest revenue share of over 40% in 2019. Home respiratory therapy equipment dominated the therapeutic segment owing to increasing demand for treatment and assessment of cardiopulmonary disorders such as bronchitis, asthma, COPD, and others. It includes equipment such as C-PAP, Bi-PAP, ventilators, and nebulizers. Koninklijke Philips, IndiaMART InterMESH Ltd., and Healthgenie.in are some of the key distributors in the country.
Diagnostics accounted for around 35% revenue share in 2019 and is expected to register the fastest CAGR over the forecast period. Technologically advanced products that enable accurate and timely diagnosis such as strapless heart rate monitor, iPhone heart-rate monitor, and TQR heart rate watches are likely to propel the segment growth. Further, increasing patient awareness and health consciousness is also likely to boost the growth.
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Mobility assistive equipment is designed to provide basic mobility. It includes wheelchairs, home medical furniture, and walking assist devices. The overall mobility assistive market is expected to grow at a lucrative rate during the forecast period owing to the increasing incidence of trauma, arthritis and mobility impairments, growing geriatric population, and rising incidence of orthopedic disorders and physical disabilities.
Neurosurgery Surgical Power Tools Market Segmentation
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)
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Drill
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Saw
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Reamer
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Others
Neurosurgery Surgical Power Tools Power Type Outlook (Revenue, USD Million, 2015 – 2026)
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Pneumatic
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Electric
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Battery-powered
Neurosurgery Surgical Power Tools Regional Outlook (Revenue, USD Million, 2015 – 2026)
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North America
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U.S.
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Canada
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Europe
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Germany
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U.K.
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France
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Italy
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Spain
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Russia
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Asia Pacific
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Japan
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China
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India
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Australia
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Singapore
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South Korea
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Latin America
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Mexico
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Brazil
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Argentina
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Colombia
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Middle East and Africa
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South Africa
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Saudi Arabia
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UAE
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