Neurosurgical Products Market, By Product Type (Shunts, Neurosurgical endoscopes, Stereo tactic radiosurgery systems, Embolization products, Aneurysm and AVM clips, Others), By Condition (Aneurysms, Pituitary and Intracranial tumors, Arteriovenous malformations, Hydrocephalus, Others), By Surgery (Minimally Invasive Surgery, Open Surgery), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

Published In : Jun 2020

Code : CMI3909

Pages :165

Formats :

Excel and PDF

Industry : Medical Devices

Neurosurgical Products MarketSize and Trends

Statistics:

The global neurosurgical products market is estimated to account for US$ 13,203.7 Mn in terms of value by the end of 2027.

Statistics:

North America held dominant position in the global neurosurgical products market in 2019, accounting for 41.6% share in terms of value, followed by Europe and Asia Pacific, respectively

Global Neurosurgical Products Market: Opportunities

Increasing demand for minimally invasive surgeries is expected to offer lucrative growth opportunities for players in the global neurological products market. Minimally invasive surgeries either require small incision or are completely noninvasive. Minimally invasive surgeries, such as radiosurgery, can be completed in just a few sessions and involve very little patient recovery time. In addition, minimally invasive surgeries are relatively cost effective as compared to open surgeries.

Moreover, increasing awareness regarding hydrocephalus is also expected to aid in growth of the market. For instance, in September 2019, The WALKs kick off Hydrocephalus Awareness Month was observed in the U.S.

Statistics:

The global neurosurgical products market was valued at US$ 5,610.4 Mn in 2019 and is forecast to reach a value of US$ 13,203.7 Mn by 2027 at a CAGR of 11.3% between 2020 and 2027.

Figure 2: Global Neurosurgical Products Market Value (US$ Bn), 2016 – 2027

Market Trends/Key Takeaways

Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in September 2019, Integra LifeSciences Holdings Corporation acquired Rebound Therapeutics, a developer of single-use medical devices that enable minimally invasive access in neurosurgery.

Major players in the market are also focused approval and launch of new products to expand their product portfolio. For instance, in April 2019, Insera Therapeutics, Inc. received CE Mark approval for its CLEAR Aspiration System, for the aspiration of blood clots, and is indicated for use in patients with acute ischemic stroke secondary to intracranial large vessel occlusive disease.

Market Trends/Key Takeaways