Neurosurgical Products Market Estimated CAGR Value 10.5% by Valuates Reports
Overview: Neurosurgery is a complex medical specialty concerned with individuals suffering from neuro-related diseases and disorders. The nervous system is prone to several diseases that affect brain, spine, peripheral nerves, and spinal cord. The symptoms such as muscle weakness, seizures, perception, partial or complete analysis, cognition or emotional state, loss of bowel, and bladder control are due to the various neurological problems. Neurosurgery is the most advanced and modernized method for diagnosis and treatment, which includes computed tomography, magnetic resonance imaging (MRI), computer assisted imaging, stereotactic radiosurgery, and magnetoencephalography.
There are about 1 billion individuals, which is nearly 13.46% of the global population, suffering from neurological disorders. Some of the most prevalent neurological disorders are strokes, multiple sclerosis, epilepsy, brain injuries, Alzheimer and Parkinson diseases, and neuro-infections. Neurological disorders cause more than 10% of deaths worldwide.
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Regional Analysis: The regions covered in the report are the Americas, EMEA, and Asia Pacific (APAC). The Americas is set to be the leading region for the neurosurgical devices market growth followed by EMEA. There has been a significant increase in the number of individuals undergoing treatment for various neurosurgical procedures in the US. For instance, according to the American Academy of Neurology, neurological disorders accounted for 7% of all global diseases in 2014.
Key Players: Boston Scientific Corp., DePuy Synthes, Inc., Integra LifeSciences Holdings Corp., Medtronic PLC, Stryker Corp., and other predominate & niche players.
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Competitive Analysis: At present, the market is dominated by Neurostimulation Devices having the maximum number of procedures and sales of neurostimulators in the market.
Vendors are focusing on investing a huge amount in R&D activities to develop new innovative products in the market with newer application to offer novel devices. Most of the vendors in the market are focused on expanding their business by mergers & acquisitions, through partnerships, and trade shows. Big players such as Boston Scientific Corp., DePuy Synthes, Inc., Integra LifeSciences Holdings Corp., Medtronic PLC, and Stryker Corp. along with the collaboration with other universities and neurological research centers for clinical trials of neurology diseases are coming up with new neurosurgical devices in the market, which are expected to grow tremendously during the forecast period. Significant investments in R&D and increasing awareness about complex neurosurgical procedures in the market are expected to boost the market growth.
Benefits: The report provides complete details about the usage and adoption rate of neurosurgical devices in various neurology diseases and regions. With that, key stakeholders can know about the major trends, drivers, investments, vertical player’s initiatives, government initiatives towards the neurosurgical devices adoption in the upcoming years along with the details of commercial neurosurgical devices available in the market. Moreover, the report provides details about the major challenges that are going to impact on the market growth. Additionally, the report gives the complete details about the key business opportunities to key stakeholders to expand their business and capture the revenue in the specific verticals to analyze before investing or expanding the business in this market
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