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IMARC Group's latest report, titled“ Neurosurgery Devices market : Global industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032 ”, the global neurosurgery devices market size reached US$ 11.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 30.3 Billion by 2032, exhibiting a growth rate (CAGR) of 10.9% during 2024-2032.
Factors Affecting the Growth of the Neurosurgery Devices Industry:
Technological Advancements : Continuous advancements in neurosurgery devices play a pivotal role in driving the market. Innovations such as minimally invasive techniques, robotic-assisted surgeries, and advanced imaging technologies enhance the precision, safety, and efficacy of neurosurgical procedures. Surgeons increasingly adopt these devices to improve patient outcomes, reduce recovery times, and minimize the invasiveness of neurosurgical interventions. Rising Prevalence of Neurological Disorders : The increasing incidence of neurological disorders, such as brain tumors, epilepsy, and neurodegenerative diseases, is a significant factor fueling the demand for neurosurgery devices. As the global population ages and the prevalence of conditions like Alzheimer's and Parkinson's disease rises, there is a growing need for advanced neurosurgical interventions and devices to diagnose, treat, and manage these disorders effectively. Growing Investments in Healthcare Infrastructure : Investments in healthcare infrastructure, particularly in emerging markets, contribute to the expansion of the neurosurgery devices market. The development of state-of-the-art neurosurgical facilities, equipped with the latest devices and technologies, attracts skilled neurosurgeons and encourages the adoption of advanced neurosurgery devices. Government initiatives, private sector investments, and advancements in healthcare accessibility collectively drive the market by creating an environment conducive to the adoption of neurosurgery devices.
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The key Players Operating in the Industry:
Abbott Laboratories Ackermann Instrumente GmbH Adeor Medical AG B. Braun Melsungen AG Biotronik, Boston Scientific Corporation DePuy Synthes Inc Integra LifeSciences Corporation Johnson & Johnson Services Inc Medtronic Plc Nevro Corporation Nihon Kohden Corporation Penumbra Inc Stryker Corporation
Global Neurosurgery Devices Market Trends:
The market is experiencing growth driven by the escalating prevalence of diverse neurological disorders worldwide. The increasing elderly population, more susceptible to neurological and other medical conditions, is amplifying this growth. Additionally, a heightened level of health consciousness and awareness among the public about effective treatment options for neurological disorders is contributing to market expansion. Consequently, there is a rising inclination towards neuroendoscopy surgeries as an alternative to traditional brain surgeries.
Notably, various neurostimulation devices, facilitating electrical impulses to targeted sacral nerves and enabling deep brain stimulation, are gaining preference. Technological advancements, including innovative minimally invasive equipment such as flow diversion, liquid embolic and clot retrieval devices, neuroendovascular stents, and balloon catheters, constitute another catalyst for growth. Factors like enhancements in healthcare infrastructure, coupled with extensive research and development (R&D) endeavors, are anticipated to further propel market advancements.
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Neurosurgery Devices Market Report Segmentation:
Breakup by Product Type:
Neurostimulation Devices Neurointerventional Devices Neurosurgical Navigation Systems Cerebral Spinal Fluid (CSF) Management Devices Others
Neurostimulation devices dominate the market due to their significant impact on enhancing therapeutic outcomes in various neurological disorders.
Breakup by Application:
Spinal Cord Stimulation Chronic Pain Failed Back Surgery Syndrome Ischemia
Deep Brain Stimulation Parkinson's Disease Tremor Depression Others
Neuroendoscopy Transnasal Neuroendoscopy Intraventricular Neuroendoscopy Transcranial Neuroendoscopy
Deep brain stimulation dominates the market due to its effectiveness in treating neurological conditions such as Parkinson's disease, essential tremor, and dystonia.
Breakup by End-User:
Hospitals Ambulatory Surgical Centers Others
Hospitals dominate the market due to their central role in providing comprehensive neurosurgical care.
Breakup by Region:
North America (United States, Canada) Europe (Germany, France, United Kingdom, Italy, Spain, Others) Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
North America dominates the market due to advanced healthcare infrastructure, high prevalence of neurological disorders, and early adoption of cutting-edge neurosurgery technologies.
Key Highlights of the Report:
Market Performance (2018-2023) Market Outlook (2024-2032) Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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