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Intracranial Neurosurgery Market Opportunities and Forecasts, 2017 - 2025
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In intracranial neurosurgery, an opening is created and part of the skull is removed to get access to the brain. Intracranial neurosurgery is generally performed under general anesthesia and make patient sleep to not to feel the pain but in some cases patients need to be awake to respond the doctor’s commands as a part of operative treatment.The rising trend of minimal invasive surgery is resulted in the increasing demand of intracranial neurosurgery and has become the growth opportunity for the market over a long run.
The global intracranial neurosurgery market is expected to register a significant CAGR over a forecast period. The increasing incidence of neurological and brain disorders is anticipated to boost the demand of neurosurgery and drives the growth of the global intracranial neurosurgery market. According to the WHO (World Health Organization), neurological disorders contributed around 2% weightage to the global illness.
The increasing prevalence of trauma injuries is also anticipated to propel the demand for neurosurgery and drives the global market over the forecast period. The technological advancements and growing demand for minimally invasive surgery are also expected to bolster the growth of the global intracranial neurosurgery market over a long run.
However, the lack of skilled neurosurgeons and skilled personnel is the major factor which may hinder the growth of intracranial neurosurgery market as neurosurgery is considered as a highly competitive procedure and only around 0.6% surgeons performed neurosurgeries globally. The higher cost of neurosurgery devices may also hamper the growth of the global intracranial neurosurgery market.
On the basis of regional presence, the global intracranial neurosurgery market is segmented into five key regions: North America, Latin America, Europe, Asia-Pacific, and Middle East & Africa. The North America is dominating and contributed the leading shares to the intracranial neurosurgery market in terms of revenue and expected to register a significant growth over a forecast period due to the advanced medical infrastructure and facilities. The Europe is also expected to contribute to moderate revenue market share and register a healthy growth rate in the global intracranial neurosurgery market followed by North America.
The APEJ has become the lucrative market for intracranial neurosurgery and anticipated to register significant opportunities over the forecast period due to the increasing demand of intracranial neurosurgery for minimally invasive neurosurgery and increasing trend of medical tourism in the region. The Latin America and MEA are at a nascent stage to the global intracranial neurosurgery market and expected to show a moderate growth over a forecast period.
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Some of the market players in Intracranial Neurosurgery Market globally include Karl Storz GmbH & Co. KG, Olympus Corporation, Conmed Corporation, Richard Wolf GmbH, Boston Scientific Inc., Integra LifeSciences Holdings Corporation, Aesculap Division, Smith & Nephew Plc., Medtronic and NICO Corp. to name a few. The Intracranial Neurosurgery market is currently witnessing a number of strategic collaboration and partnership activities by manufacturers and end users.
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