Neurosurgery Market to grow along the lines of smart medical devices

The pharmaceutical industry is making use of AI for discovering new-fangled drugs. January 2020 witnessed the invention of the very first drug molecule using AI, whose patent lay with Japanese and British scientists. The medicine is being used for treating OCD (obsessive-compulsive disorder). Likewise, several promising formulas are being discovered as an outcome of AI-enabled lab experimenting. This would how the Neurosurgery Market look in the near future.

Neurosurgery refers to the surgical specialty that is concerned with the diagnosis and surgical treatment of the nervous system including brain, spinal cord, spine, and nerves. Neurosurgery is performed by a physician called neurosurgeon. Neurosurgeons provide operative and non-operative care depending upon the nature of the injury or illness.

Neurosurgery helps to treat patients with brain tumor, head and spinal cord injury due to accidents, neck and back pain, and patients with abnormal spinal fluid circulation. The types of neurosurgery include endovascular neurosurgery,oncological neurosurgery, stereotactic neurosurgery, craniotomy, and neuro-endoscopy.

Endovascular neurosurgery uses catheters and radiology to diagnose and treat diseases related to the central nervous system. Oncological neurosurgery is used to treat patients with both primary and metastatic brain and spine tumors. Stereotactic neurosurgery is a minimally invasive surgery which helps to remove brain tumors by using image guidance.

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Craniotomy refers to a surgical procedure in which a part of bone is removed from the skull to expose the brain. The removed part of skull bone is called bone flap and is replaced after the surgery has been performed. Neuroendoscopy is a minimally invasive surgical procedure that is performed with the use of an endoscope. It helps to treat deep-seated tumors in the base of brain and skull.

The global neurosurgery market is categorized based on product type. The product type segment includes sub-segments such as neurostimulation services, neuro-interventional devices, cerebral spinal fluid (CSF) management devices, neurosurgical navigation systems, and others.

North America has the largest market for neurosurgery followed by Europe. This is due to the increasing number of patients with neurological disorders, availability of technologically advanced equipment for neurosurgery, rise in research and development activities, increasing awareness among people about brain-related diseases, and improved healthcare infrastructure in the region.The neurosurgery market in Asia is expected to experience high growth rate in the next few years.

This is due to evolving R&D activities, increasing government supports in the form of funding, growing awareness about neurological disorders and available treatment options in the market, and developing healthcare infrastructure in the region. In addition, growing demographics and economies in developing countries such as India, China and Japan are expected to lead growth in the neurosurgery market in Asia.

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Technological advancement in the surgical equipment, increasing number of patients with neurological diseases, growing aging population, rise in healthcare expenditure for brain disorders, growing awareness about various neurological disorders and availability of surgical options, and rise in research and development activities are the key drivers for the global neurosurgery market. However, high cost of equipment for neurosurgery, stringent regulatory requirements, and lack of reimbursement from the insurance companies are some of the factors restraining the growth of the global neurosurgery market.

Increasing adoption rate of neurostimulation devices in the treatment of neurological disorders such as migraine, epilepsy, Parkinson's disease, and chronic pain; rise in the number of mergers and acquisitions; rapid product launches; and growing number of collaborations and partnerships are some of the latest trends that have been observed in the global neurosurgery market.

Key segments covered in this report are:

By product type

Neuro-interventional devices
Cerebral spinal fluid (CSF) management devices
Neurosurgical navigation systems
Neurostimulation services
Others

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Top companies profiled in this report are:

Codman & Shurtleff Inc.
Medtronic Inc.
B. Braun Melsungen
Stryker Corp
BrainLab
Integra LifeSciences Corp.
NeuroVista Corporation
Scopis GmbH
Boston Scientific
Elekta AB
Cyberkinetics Neurotechnology Systems, Inc.
Cyberonics, Inc.
Karl Storz
Micromar
Neuros Medical, Inc.
SPR Therapeutics
St. Jude Medical, Inc.
Synapse Biomedical Inc.

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