Virtual health assistants to keep the hopes high for Neurosurgery Market at a CAGR of 4.5%

Worldwide revenue from the neurosurgery market was US$ 4.9 Bn at the end of 2021, with the global market estimated to evolve at a value CAGR of 4.5% to reach US$ 7.9 Bn by the end of 2032.

As assessed by Persistence Market Research, neuro-interventional devices held a market value share of 60.8% in 2021. Overall, neurosurgery device sales accounted for just over 1% revenue share of the global medical devices market in 2021.

One of the key drivers of the neurosurgery market is the increasing prevalence of neurological disorders, such as stroke, brain tumors, and spinal cord injuries. These conditions can have a significant impact on an individual's quality of life and can be costly to treat. As a result, there is a growing demand for effective treatments and therapies for these conditions, which is driving the growth of the neurosurgery market.

Another major factor contributing to the growth of the neurosurgery market is the increasing adoption of minimally invasive surgical techniques. These techniques involve smaller incisions and less disruption to surrounding tissue, which can result in faster recovery times and fewer complications for patients. The development of new technologies, such as robotic surgical systems and advanced imaging techniques, is also enabling neurosurgeons to perform more complex procedures with greater precision and accuracy.

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Company profile

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
Varian Medical Systems, Inc.

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The global neurosurgical products market is predicted to expand at a CAGR of 11.32% for the forecast period between 2017 and 2022, for the market's valuation of US$4537.2 mn in 2017 to become US$7756.2 mn by the end of 2022.

Embolization Products to Contribute Significant Revenue Through 2022

The global neurosurgical products market is segmented on the basis of condition, product type, procedure, and geography. By condition, hydrocephalus, aneurysms, arteriovenous malformations, and pituitary and intracranial tumors are the segments into which this market is divided. Of them, in absolute numbers, aneurysms stood as the leading segment in this market in 2017.

In terms of product type, the segments into which the neurosurgical products market is divided are embolization products, neurosurgical endoscopes, stereo tactic radiosurgery systems, aneurysm and AVM clips, shunts, and others. Among them, embolization products is likely to contribute the leading US$3,012.2 mn revenue to the overall market in 2022.

Depending upon procedure, the global neurosurgical products market is bifurcated into open surgery and minimally invasive surgery. Of the two, minimally invasive surgery segment hold prominence in the neurosurgical products market. The minimally invasive surgery segment is anticipated to rise at 11.98% CAGR over the forecast period between 2017 and 2022.

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