Global Neurosurgery Market

Neurosurgery Market Size, Share, Growth Analysis, By Product(Neurosurgery Devices, Neurosurgery Software, and Consumables), By Age group(Pediatric, Adult, and Geriatric), By End-user(Hospitals, Neurosurgery Centers, Research Centers, Ambulatory Surgical Centers), By Region - Industry Forecast 2024-2031


Report ID: SQMIG35G2274 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 92 |Figures: 76

Neurosurgery Market Insights

Global Neurosurgery Market size was valued at USD 4.91 billion in 2021 and is poised to grow from USD 5.14 billion in 2022 to USD 7.27 billion by 2030, growing at a CAGR of 4.6% in the forecast period (2023-2030).

The worldwide neurosurgery marketplace is witnessing a huge boom driven through an aggregate of factors. Technological advancements in neurosurgical strategies and systems have enabled extra precise and minimally invasive techniques, improving affected person results and decreasing recovery times.

Additionally, a growing aging population and accelerated focus of neurological issues have boosted the demand for neurosurgical interventions. Moreover, collaborations between clinical establishments and pharmaceutical corporations are fostering innovation in treatment options.

However, the marketplace is likewise characterized by excessive entry boundaries due to the want for specialized training and high priced gadgets that could pose challenges for brand new entrants. Overall, the neurosurgery market is poised for sustained expansion because it strives to satisfy the evolving healthcare needs of a worldwide populace.

Market Snapshot - 2023-2030

Global Market Size

USD 4.91 billion

Largest Segment

Neurosurgery Devices

Fastest Growth

Neurosurgery Devices

Growth Rate

4.6% CAGR

Global Neurosurgery market ($ Bn)
Country Share for NORTH AMERICA Region (%)

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Neurosurgery Market Segmental Analysis

The international neurosurgery marketplace is segmented on the idea of product, age group, quit-person, and vicinity. Based on utility the marketplace is segmented as neurosurgery devices, neurosurgery software, consumables. On the idea of age organization the marketplace is segmented as pediatric, adult, geriatric. Based on stop-consumer, it's far segregated into hospitals, neurosurgery facilities, research centers, ambulatory surgical centers, others. Based on location, the marketplace is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Analysis via Product

Neurosurgery gadgets preserve a dominant function inside the market, serving as the spine of surgical interventions. These embody a wide array of gadgets, from neurostimulation gadgets to surgical contraptions. Their prominence stems from the critical function they play in ensuring precision and efficacy in the course of methods. Additionally, continuous advancements in technology have brought about the development of more sophisticated and specialized neurosurgery devices, further solidifying their dominance.

However, neurosurgery software programs are rising as the fastest-growing section within the market. This surge can be attributed to the growing adoption of superior imaging strategies, intraoperative monitoring, and navigation systems. These software program solutions decorate surgical planning, taking into account more accuracy and protection throughout methods. The integration of artificial intelligence and system mastering in neurosurgery software is likewise a riding pressure, allowing surgeons to make extra informed choices and enhance affected person outcomes.

Analysis by End-consumer

Hospitals remain to dominate the worldwide neurosurgery market because of their comprehensive healthcare infrastructure, ability to deal with complicated instances, and accessibility to a huge affected person base. They regularly serve as referral centers for specialized neurosurgical strategies, making them a key player within the market.

Moreover, Ambulatory Surgical Centers (ASCs) are experiencing a speedy boom in the global neurosurgery marketplace. This is more often than not pushed via their cost-effectiveness, shorter recovery times, and the increasing fashion closer to minimally invasive neurosurgical procedures. Patients and healthcare companies are increasingly opting for ASCs for optionally available neurosurgical interventions, contributing to their sizable marketplace enlargement.

Global Neurosurgery market by Product type, 2021 (%)

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Neurosurgery Market Regional Insights

North America is the dominating region in terms of monetary and technological have an effect on. It houses essential worldwide economic gamers, including the United States and Canada, and is home to some of the international's main technology groups. The area benefits from a sturdy infrastructure, innovative atmosphere, and a strong consumer market.

However, Asia Pacific is the fastest-growing area because of several factors. It boasts an unexpectedly expanding middle class, increasing urbanization, and a booming technology zone. Countries like China and India are experiencing a giant economic increase, attracting investments and creating an enormous consumer base. Additionally, the region's consciousness on production and exports contributes to its economic acceleration.

Global Neurosurgery market by Geography, 2023-2030
  • Largest
  • Fastest

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Neurosurgery Market Dynamics

Drivers

Technological Advancements

Technological improvements are a chief driver within the marketplace. Innovations inclusive of synthetic intelligence, 5G, and IoT are revolutionizing industries, growing efficiency, and increasing marketplace possibilities. These technologies enhance product skills, improve consumer stories, and power growth with the aid of establishing new markets and sales streams.

Restraints

Regulatory Compliance Challenges

Regulatory compliance challenges pose a giant restraint in the marketplace. Evolving and complicated policies, mainly in industries like healthcare and finance, can restrict product development and market access. Companies often face high compliance expenses and dangers of penalties for non-compliance, making it essential to navigate these regulatory hurdles correctly to be triumphant within the marketplace.

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Neurosurgery Market Competitive Landscape

The aggressive panorama within the Global Neurosurgery market is characterized by means of severe competition amongst several properly-established corporations and new entrants. These corporations are continuously striving to advantage a competitive area through innovation in product layout, material generation, and production tactics.

Additionally, partnerships and collaborations with healthcare establishments and studies agencies have become increasingly more familiar, permitting players to expand their marketplace presence. The focus on meeting stringent regulatory standards and keeping extraordinary products stays paramount, ensuring that clients and healthcare specialists have get right of entry to dependable and secure Neurosurgery.

As the call for minimally invasive medical strategies maintains upward thrust, the competitive panorama is predicted to in addition accentuate, with a steady pressure for innovation and market leadership.

Top Player’s Company Profiles

  • Elekta (Sweden)
  • ALEVA NEUROTHERAPEUTICS (Switzerland)
  • Machida Endoscope Co., Ltd. (Japan)
  • Brainlab AG (Germany)
  • adeor medical AG. (Germany)
  • LivaNova PLC (UK)
  • B. Braun SE (Germany)
  • Optofine Instruments Pvt. Ltd. (India)
  • Wallaby Medical (Australia)
  • Terumo Medical Corporation (Japan)
  • NEVRO CORP. (US)
  • Integra LifeSciences (US)
  • Stryker (US)
  • Penumbra, Inc. (US)
  • KARL STORZ SE & Co. KG (Germany)
  • Nalu Medical, Inc. (US)
  • Renishaw plc. (UK)
  • Synapse Biomedical Inc. (US)
  • EMS Handels Gesellschaft mbH (Germany)
  • Inomed Medizintechnik GmbH (Germany)

Recent Developments

  • In January 2023, Medtronic announced the launch of its new StealthStation S7 surgical navigation machine.
  • In June 2023, Medtronic also introduced the acquisition of Digital Surgery, an organisation that develops surgical making plans and navigation software.
  • In February 2023, Johnson & Johnson introduced the release of its new SYNERGY 9100 neuromodulation platform.
  • In March 2023, Johnson & Johnson additionally announced a brand new partnership with the University of California, San Francisco (UCSF) to expand new neurosurgical treatments for Parkinson's sickness.

Neurosurgery Key Market Trends

  • Increasing demand for minimally invasive neurosurgery approaches : Minimally invasive neurosurgery techniques are becoming an increasing number of famous due to their decreased danger of headaches and shorter restoration times. This fashion is being pushed by the improvement of the latest technologies and techniques, along with robotic surgical operation and photo-guided surgery.

Neurosurgery Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to international neurosurgery market evaluation, the Looking beforehand, the market has exhibited sizeable growth and transformation in current years, pushed with the aid of a mixture of factors inclusive of the increasing prevalence of neurological issues, technological advancements in surgical strategies and device, and rising call for for minimally invasive procedures. Several key market segments have seen big development. The adoption of superior neuroimaging strategies, robotic-assisted surgical procedures, and the integration of synthetic intelligence in surgical making plans and prognosis have advanced precision and outcomes in neurosurgery. Furthermore, the developing getting older population and the related boom in neurodegenerative diseases have extended the affected person pool, further propelling marketplace growth. Overall, the marketplace is poised for an outstanding boom inside the coming years, pushed by means of a convergence of technological improvements, growing incidence of neurological disorders, and the growing adoption of minimally invasive surgical strategies.

Report Metric Details
Market size value in 2021 USD 4.91 billion
Market size value in 2030 USD 7.27 billion
Growth Rate 4.6%
Base year 2023
Forecast period 2023-2030
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Neurosurgery Devices, Neurosurgery Software, and Consumables
  • Age group
    • Pediatric, Adult, and Geriatric
  • End-user
    • Hospitals, Neurosurgery Centers, Research Centers, Ambulatory Surgical Centers, and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Elekta (Sweden)
  • ALEVA NEUROTHERAPEUTICS (Switzerland)
  • Machida Endoscope Co., Ltd. (Japan)
  • Brainlab AG (Germany)
  • adeor medical AG. (Germany)
  • LivaNova PLC (UK)
  • B. Braun SE (Germany)
  • Optofine Instruments Pvt. Ltd. (India)
  • Wallaby Medical (Australia)
  • Terumo Medical Corporation (Japan)
  • NEVRO CORP. (US)
  • Integra LifeSciences (US)
  • Stryker (US)
  • Penumbra, Inc. (US)
  • KARL STORZ SE & Co. KG (Germany)
  • Nalu Medical, Inc. (US)
  • Renishaw plc. (UK)
  • Synapse Biomedical Inc. (US)
  • EMS Handels Gesellschaft mbH (Germany)
  • Inomed Medizintechnik GmbH (Germany)
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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Neurosurgery Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Neurosurgery Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Neurosurgery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Neurosurgery Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Neurosurgery Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Neurosurgery Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Neurosurgery Market size was valued at USD 4.91 billion in 2021 and is poised to grow from USD 5.14 billion in 2022 to USD 7.27 billion by 2030, growing at a CAGR of 4.6% in the forecast period (2023-2030).

The aggressive panorama within the Neurosurgery market is characterized by means of severe competition amongst several properly-established corporations and new entrants. These corporations are continuously striving to advantage a competitive area through innovation in product layout, material generation, and production tactics. 'Elekta (Sweden)', 'ALEVA NEUROTHERAPEUTICS (Switzerland)', 'Machida Endoscope Co., Ltd. (Japan)', 'Brainlab AG (Germany)', 'adeor medical AG. (Germany)', 'LivaNova PLC (UK)', 'B. Braun SE (Germany)', 'Optofine Instruments Pvt. Ltd. (India)', 'Wallaby Medical (Australia)', 'Terumo Medical Corporation (Japan)', 'NEVRO CORP. (US)', 'Integra LifeSciences (US)', 'Stryker (US)', 'Penumbra, Inc. (US)', 'KARL STORZ SE & Co. KG (Germany)', 'Nalu Medical, Inc. (US)', 'Renishaw plc. (UK)', 'Synapse Biomedical Inc. (US)', 'EMS Handels Gesellschaft mbH (Germany)', 'Inomed Medizintechnik GmbH (Germany)'

Increasing demand for minimally invasive neurosurgery approaches : Minimally invasive neurosurgery techniques are becoming an increasing number of famous due to their decreased danger of headaches and shorter restoration times. This fashion is being pushed by the improvement of the latest technologies and techniques, along with robotic surgical operation and photo-guided surgery.

North America is the dominating region in terms of monetary and technological have an effect on. It houses essential worldwide economic gamers, including the United States and Canada, and is home to some of the international's main technology groups. The area benefits from a sturdy infrastructure, innovative atmosphere, and a strong consumer market.

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