Neurosurgical products market
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
- Jun 2020
- CMI3909
- 165 Pages
- Excel & Pdf
- Medical Devices
Neurosurgical products are used in the treatment of neurological disorders such hydrocephalus, aneurysms, arteriovenous malformations, and pituitary and intracranial tumors.
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.
Global Neurosurgical Products Market: Drivers
Increasing prevalence of neurological disorders is expected to propel growth of the global neurosurgical products market over the forecast period. For instance, according to the study, ‘Prevalence and clinical associations of disproportionately enlarged subarachnoid space hydrocephalus, an imaging feature of idiopathic normal pressure hydrocephalus’, published in Fluids and Barriers of the CNS, in 2019, the prevalence of Disproportionately Enlarged Subarachnoid space Hydrocephalus was 1.1% in the memory clinic and 1.0% in the community, which increased with age.
Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to Office of National Statistics, U.K. 2018, there are nearly 12 million people aged 65 and above in the U.K. of which 5.4 million people are aged over 75, 1.6 million are aged over 85, over 500,000 people are over 90, and 14,430 are centenarians.
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
Figure 1: Global Neurosurgical Products Market Share (%) Value, By Region, 2019
Global Neurosurgical Products Market: Restraints
Availability of alternatives is expected to hinder growth of the market. The presence of alternative treatments such as drug therapies for the treatment of neurological disorders limits adoption of neurosurgical products.
Moreover, product recalls are also expected to limit growth of the market. For instance, in March 2020, Medtronic plc recalled pipeline flex embolization devices due to risk of device fracture.
Neurosurgical Products Market Report Coverage
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 5,610.4 Mn |
| Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR: | 11.3% | 2027 Value Projection: | US$ 13,203.7 Mn |
| Geographies covered (27): |
|
||
| Segments covered: |
|
||
| Companies covered: |
Integra LifeSciences Holdings Corporation, KARL STORZ GmbH & Co. KG, Medtronic plc, Johnson & Johnson Services, Inc., Stryker Corporation, Elekta AB, Terumo Corporation, Penumbra, Inc., B. Braun Melsungen AG, and Varian Medical Systems, Inc. |
||
| Growth Drivers: |
|
||
| Restraints & Challenges: |
|
||
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.
Global Neurosurgical Products Market: Competitive Landscape
Major players operating in the global neurosurgical products market include, Integra LifeSciences Holdings Corporation, KARL STORZ GmbH & Co. KG, Medtronic plc, Johnson & Johnson Services, Inc., Stryker Corporation, Elekta AB, Terumo Corporation, Penumbra, Inc., B. Braun Melsungen AG, and Varian Medical Systems, Inc.
Global Neurosurgical Products Market: Key Developments
Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in February 2020, Medtronic plc acquired Digital Surgery, a privately-held provider of surgical artificial intelligence, data and analytics, and digital education and training solutions.
Similarly, in July 2019, Integra LifeSciences Holdings Corporation acquired Arkis Biosciences Inc., a privately-held company that offers a portfolio of neurosurgical devices
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Condition
- Market Snippet, By Surgery
- Market Snippet, By Country
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Key Highlights
- Product launch
- PEST Analysis
- Technological Advancements
- Regulatory Scenario
- Mergers and Acquisitions
- Market Dynamics
- Global Neurosurgical Products Market, By Product Type, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Shunts
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Neurosurgical endoscopes
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Stereo tactic radiosurgery systems
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Embolization products
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Aneurysm and AVM clips
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Neurosurgical Products Market, By Condition, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Aneurysms
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Pituitary and Intracranial tumors
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Arteriovenous malformations
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Hydrocephalus
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Neurosurgical Products Market, By Surgery, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, 2017 – 2027
- Segment Trends
- Minimally Invasive Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Open Surgery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2027, (US$ Mn)
- Introduction
- Global Neurosurgical Products Market, By Region, 2019 – 2027, (US$ Mn)
- Introduction
- Market Share Analysis, By Region, 2020 and 2027 (%)
- Y-o-Y Growth Analysis, For Regions, 2017–2026
- North America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Condition, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- U.S.
- Canada
- Latin America
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Condition, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Europe
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Condition, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- Germany
- U.K.
- France
- Spain
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Condition, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- China
- Japan
- India
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Condition, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Market Size and Forecast, By Product Type, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Condition, 2016 – 2027, (US$ Mn)
- Market Size and Forecast, By Surgery, 2016 – 2027, (US$ Mn)Market Size and Forecast, By Country, 2016 – 2027, (US$ Mn)
- North Africa
- Central Africa
- South Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Integra LifeSciences Holdings Corporation
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- KARL STORZ GmbH & Co. KG
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Medtronic plc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Johnson & Johnson Services, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Stryker Corporation
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Elekta AB
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Terumo Corporation
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Penumbra, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- B. Braun Melsungen AG
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Varian Medical Systems, Inc.
- Company Overview
- Product Portfolio
- Financial Overview
- Key Highlights
- Market Strategies
- Integra LifeSciences Holdings Corporation
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 22 market data tables and 14 figures on “Global Neurosurgical Products Market - Global forecast to 2027”.