Neurosurgical Products Market Overall Study Report 2023-2030 | Integra LifeSciences Holdings Corporation, KARL STORZ GmbH & Co. KG

The Neurosurgical Products Market is estimated for 2023 to 2030 for the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Neurosurgical products include various medical devices and equipment used in neurosurgical procedures to treat neurological disorders and injuries. These products include neurostimulation devices, neurosurgical endoscopes, along with shunts and catheters for CSF (cerebrospinal fluid) management.

Market Dynamics:

The Neurosurgical Products Market is driven by the increasing number of neurological disorders such as Alzheimer's disease, epilepsy, stroke, traumatic brain injuries, and Parkinson's disease. According to the World Health Organization (WHO), neurological disorders affect over 1 billion people worldwide with 6.8 million deaths reported annually. Additionally, advancements in neurosurgical devices and equipment with features such as enhanced precision, miniaturization, and improved outcomes are also fueling the market growth. Some of the new product launches include robotic surgical systems, stereotactic navigation systems, and neuromodulation devices for treatment of neurological conditions.

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** Note - This Report Sample Includes:

‣ Brief Overview to the research study.

‣ Table of Contents The scope of the study's coverage

‣ Leading market participants

‣ Structure of the report's research framework

‣ Coherent Market Insights' research approach

Major companies in Neurosurgical Products Market are:

✤ 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.

Note: Major Players are sorted in no particular order.

Growth in geriatric population and prevalence of neurological disorders

One of the major drivers for the neurosurgical products market is the increasing geriatric population globally. The elderly population is more prone to neurological disorders such as stroke, Alzheimer's disease and Parkinson's disease. As per the latest United Nations estimates, the number of people aged 60 years or older is expected to double from 12% to 22% between 2015 and 2050 globally. This growing geriatric population base suffering from various neurological conditions is fueling the demand for neurosurgical products used in various procedures and surgeries.

Technological advancements spurring innovations in neurosurgical products

Rapid advancements in areas such as robotics, neurophysiological and neuromonitoring technologies are driving innovation in the neurosurgical products market. Leading manufacturers are developing technologically advanced neurosurgical products equipped with features such as integration with navigation systems, enabling minimally invasive procedures. Also, neurosurgical microscopes integrated with HD cameras and digital documentation systems are gaining popularity. Development of bioresorbable implants and biologics for neurosurgery is another major area attracting R&D investments. These technological innovations are increasing the adoption of neurosurgical procedures, thereby propelling the market growth.

Price pressure on neurosurgical products

Growing healthcare cost containment efforts by governments and insurance payers pose a major challenge to the sustainable growth of the neurosurgical products market. Neurosurgical procedures and postoperative care involve high costs for both patients and third-party payers. In response to rising healthcare expenditures, governments and insurance providers are implementing various cost control measures such as reduction of reimbursements and premiums for neurosurgical procedures. They are also pushing for the use of cheaper generics and biosimilars over patented neurosurgical products. Such intense price pressures compel manufacturers to reduce their product prices, adversely impacting their profit margins.

Increasing healthcare infrastructure development in emerging nations

Rising healthcare infrastructure development projects in emerging countries like India, China, Brazil etc. present lucrative opportunities for the neurosurgical products market. Governments in these nations are making major investments to strengthen their public and private hospital infrastructure and expand the access to neurosurgical care. This would increase the demand for neurosurgical products from these regions in the coming years. Also, growing medical tourism focusing on high-end neurosurgeries is attracting patients from developed countries to emerging markets, stimulating their requirement for neurosurgical devices, implants and consumables.

Rise of AI and virtual reality technology in neurosurgeries

One of the key technology trends revolutionizing neurosurgeries is the adoption of artificial intelligence (AI) and virtual reality (VR). Neurosurgical AI applications include development of intelligent surgical robots, AI-powered diagnostic tools for precise disease detection and treatment planning. VR technology enables simulation of complex neurosurgeries which can help surgeons improve skills and reduce errors. Implementation of AI bots for post-operative remote monitoring is also gaining momentum. Growing R&D in the fields of AI and VR will transform neurosurgeries into much safer, non-invasive and precise procedures in the coming times. This will open new growth avenues for neurosurgical products integrating these advanced technologies.

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Highlights of the global Neurosurgical Products Market report:

→ This analysis provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2023-2030), using 2021 as the base year. It also covers the global Neurosurgical Products Market in-depth.

→ It offers enticing investment proposition matrices for this sector and explains the likely future growth of key revenue streams.

→ Additionally, this study offers crucial insights into market forces, limitations, opportunities, new product introductions or approvals, market trends, regional perspective, and competitive tactics used by top rivals.

→ Based on the following factors: company highlights, product portfolio, significant highlights, financial performance, and strategies, it covers key players in the global Neurosurgical Products Market.

→ Marketers and company leaders will be able to make wise decisions about next product launches, type updates, market expansion, and marketing strategies thanks to the insights from this research.

→ A wide spectrum of industry stakeholders are covered by the global Neurosurgical Products Market research, including investors, vendors, product producers, distributors, new entrants, and financial analysts.

→ The many strategy matrices used in researching the global Neurosurgical Products Market will aid stakeholders in making decisions.

The research was developed through the synthesis, analysis, and interpretation of data gathered from multiple sources on the parent market. Additionally, analysis has been done of the economic circumstances and other economic indicators and factors to evaluate their respective impact on the Neurosurgical Products Market, along with the present impact, so as to develop strategic and informed projections about the scenarios in the market. This is mostly due to the developing countries' unmet potential in terms of product pricing and revenue collection.

Key Questions Answered In The Report:

• Which regional market will experience the greatest and most rapid growth?

• Who are the top five Neurosurgical Products Market players?

• How will the Neurosurgical Products Market evolve over the next six years?

• What application and product will dominate the Neurosurgical Products Market?

• What are the market drivers and constraints for Neurosurgical Products Market?

• What will be the Neurosurgical Products Market's CAGR and size during the forecast period?

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About Coherent Market Insights

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.