Technological Advancements in Neurosurgery Drive the Demand for the Neurosurgery Market

According to the report of American Brain Tumor Association, approx. 80,000 new cases of brain tumor were diagnosed in 2017. Of this, almost 32% of central nervous system and brain tumors are malignant. In 2017, nearly 700,000 people were reported with primary central nervous system and brain tumor in the U.S. Therefore, the increase in prevalence and incidences of neurological conditions within the population is projected to increase the growth of the global neurosurgery market in the near future.

Access Full Report @ https://www.databridgemarketresearch.com/fr/reports/global-neurosurgery-market

Data Bridge Market Research analyses that the neurosurgery market is expected to reach USD 20,679.72 Million by 2029 from USD 7,236.00 million in 2021, growing at a lucrative CAGR of 14.2% in the forecast period of 2022 to 2029. The increase in benefit of neurosurgery over other conventional surgeries and increasing efforts to develop the application base for neuromodulation are projected to increase the growth of the global neurosurgery market.

The growing prevalence of neurological conditions is expected to drive the market's growth rate

The World Health Organization focuses on research in areas essential for public health promotion. Recently, WHO has been particularly interested in common and disabling neurological disorders that have a high global burden. Neurological disorders occur in different geographical regions and among all age groups. They considerably contribute to mortality and morbidity around the world. Neurological disease is expected to grow exponentially in low-income countries and middle-income countries.

The increasing prevalence of neurological conditions such as traumatic brain injury, chronic pain, depression, transnasal hemorrhage, intracerebral hemorrhage (ICH), and Parkinson's is expected to drive the market's growth rate. Thus, neurological conditions have become a significant public health crisis, likely increasing the growth of the global neurosurgery market.

Report Scope and Market Segmentation

Segment Analysis:

The neurosurgery market is segmented on the basis of product type, age group, end user and distribution channel.

• On the basis of product type, the global neurosurgery market is segmented into neurosurgery devices, neurosurgery software, and consumables. In 2022, the neurosurgery device segment is expected to dominate the global neurosurgery market with 59.37% market share due to the growing demand for spine and brain surgeries globally.
• On the basis of application, the global neurosurgery market is segmented into aneurysms, arteriovenous malformation (AVM), brain tumors, carotid artery blockage/stenosis, cerebrovascular surgery, cortical mapping, epilepsy, functional neurosurgery, intraoperative angiography, Parkinson's disease and tremors, peripheral nerve surgery, pituitary tumors, radiosurgery, skull base surgery, spine surgery, stereotactic neurosurgery, trauma surgery, trigeminal neuralgia, and others.

In 2022, the brain tumor segment of application segment is anticipated to dominate the neurosurgery market

The brain tumor segment is expected to dominate the global neurosurgery market with 11.76% market share due to the rising number of brain disorder patient population. Neurosurgical products such as stereotactic, endoscopes , and radiosurgery systems find wide applications for identifying and removing brain tumors.

• On the basis of age group, the global neurosurgery market is segmented into a pediatric, adult, and geriatric. In 2022, the adult segment is expected to dominate the global neurosurgery market with 39.89% market share due to the increasing incidences of brain disorders and injuries.
• On the basis of end user, the global neurosurgery market is segmented into hospitals, neurosurgery centers, research centers, ambulatory surgical centers, and others.

In 2022, the hospital segment of end user segment is anticipated to dominate the neurosurgery market

The hospitals segment is expected to dominate the global neurosurgery market with 38.22% market share due to the growing number of government initiatives and rising application areas of neurosurgery.

• On the basis of distribution channel, the global neurosurgery market is segmented into direct tender, third party distributors, and others. In 2022, the direct tender segment is expected to dominate the global neurosurgery market with a 43.90% market share due to the high level of competition and transparency.

Major Players

Data Bridge Market Research recognizes the following companies as the major neurosurgery market players in neurosurgery market Medtronic (Ireland),  Abbott (U.S.), Boston Scientific Corporation (U.S.), Elekta, ALEVA NEUROTHERAPEUTICS (Switzerland), Machida Endoscope Co., Ltd. (Japan), Brainlab AG (Germany), adeor medical AG (Grmany)., LivaNova PLC (U.K.), B. Braun SE (India), Optofine Instruments Pvt. Ltd. (India), Wallaby Medical (U.S.), Terumo Medical Corporation (Japan), NEVRO CORP. (U.S.), Integra LifeSciences (U.S.),

Market Development

• In March 2022, Medtronic announced their first patient implants in the TITAN 2 pivotal study. The aim was to evaluate the safety and efficacy of Medtronic's investigational implantable tibial neuromodulation (TNM) device. This is effective amongst people with overactive bladder (OAB). This will help the company to evaluate the safety and efficacy of its products
• In April 2022, Abbott declared that they had launched an advanced version of its NeuroSphere myPath digital health app with improved functionality. This advancement will help doctors to more closely address chronic pain in their patients. This advancement is the main part of the Abbott's commitment because this technology helps the people to take care of their health and provide better communication with their doctors. This has aided the company to increase its product portfolio by using  the app
• In April 2022, Boston Scientific Corporation or its partners announced that they had received approval from U.S. Food and Drug Administration (FDA) for its latest image-guided programming software, Vercise Neural Navigator with STIMVIEW XT. They also collaborated with Brainlab AG, a leading software-driven medical technology company. This has also aided the company in enhancing its product portfolio
• In October 2020, Accuray Incorporated announced a collaboration with Brainlab AG, a leading company in precision radiotherapy and digital surgery that will help expand and enhance the Accuray CyberKnife treatment platform for the neuro-radiosurgery market. Both companies are collaborated to deliver the neuro-radiosurgery community with access to Brainlab Elements planning software. This has helped the company to expand its business

Regional Analysis

Geographically, the countries covered in the neurosurgery market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in the neurosurgery market during the forecast period 2022 - 2029

North America dominates the neurosurgery market due to rising investment in R&D activities and the growing adoption of neurosurgery as an option for the formulation of treatment regimens. Furthermore, The U.S. dominates North America region due to the increasing prevalence of advanced technology suppliers such as NEVRO CORP., Integra LifeSciences, Stryker, Terumo Medical Corporation and others. This is also a major factor expected to further enhance the market growth rate in this region. 

Asia-Pacific is estimated to be the fastest growing region in neurosurgery market the forecast period 2022 - 2029

Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the increasing geriatric population in China and Japan. Also, growing healthcare improvements, increasing government initiatives and investments in numerous APAC countries will further increase the market's growth.

COVID-19 Impact Analysis

The outbreak of COVID-19 has adversely affected the healthcare system in several countries. The pandemic had also negatively impacted the growth of the neurosurgery market due to temporary halt in research activities coupled with the low influx of patients in diagnostic centers and hospitals. Now, manufacturers are making numerous strategic plans and decisions to bounce back post-COVID-19. The market players are conducting several product launches and R&D activities, and strategic partnerships to develop the technology in the neurosurgery market.

For more detailed information about neurosurgery market report, click here – https://www.databridgemarketresearch.com/fr/reports/global-neurosurgery-market