Neurosurgery Devices and Equipment Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

The Business Research Company’s Neurosurgery Devices and Equipment Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The neurosurgery devices and equipment market has undergone rapid expansion, surging from $8.19 billion in 2023 to an estimated $9.26 billion in 2024, exhibiting a compelling compound annual growth rate (CAGR) of 13.2%. This trajectory is poised to continue, with a projected market size of $14.84 billion by 2028, driven by a robust CAGR of 12.5%. The exponential growth of this market is indicative of its increasing importance in addressing neurological disorders globally.

Rising Neurological Disorders: Catalyst for Market Growth

The surge in neurological disorders, affecting the nervous system, spinal cord, and brain, is a pivotal driver propelling the neurosurgery devices market. Conditions like stroke, Alzheimer's, epilepsy, traumatic brain injury, Parkinson’s disease, and brain tumors collectively contribute to the growing prevalence of neurological disorders. With stroke accounting for 51.3% and Alzheimer’s disease for 21.4%, the escalating numbers underscore the pressing need for neurosurgery devices. As per the Alzheimer's Association, the projected increase in Americans with Alzheimer’s is substantial, reaching 13.8 million by 2060 from 6.2 million in 2021.

Rising Geriatric Population: A Key Growth Factor

The upward trajectory of the neurosurgery devices and equipment market is further fueled by the increasing geriatric population, especially those aged 65 and older. WHO predicts that by 2050, 80% of older people will reside in low- and middle-income countries. The use of neurosurgery devices in this demographic for diagnosis, treatment, and management of neurological conditions is driving neurosurgery devices and equipment market growth. The proportion of the global population over 60 years is expected to double from 12% to 22% between 2015 and 2050, emphasizing the substantial impact of an aging population on market dynamics.

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Key Players Driving Innovation

Major neurosurgery devices and equipment industry players play a pivotal role in shaping the neurosurgery landscape, fostering innovation, and expanding market reach. Companies such as Medtronic PLC, Boston Scientific Corporation, Stryker Corporation, Conmed Corporation, and others lead the charge in developing advanced neurosurgery devices and equipment. Their contributions are vital in addressing the evolving needs of patients and healthcare providers.

Advancements in Minimally Invasive Neurosurgery: Technological Integration

The field of neurosurgery is witnessing a paradigm shift with the advent of minimally invasive surgical procedures. These approaches result in less pain, shorter recovery times, reduced scarring, increased surgeon mobility, and lower equipment costs. Neuroendoscopy, a minimally invasive procedure using neurosurgery devices, is utilized for various treatments. Smartphone-assisted endoscope neurosurgery is gaining traction, showcasing the integration of technology in enhancing efficiency and safety.

Innovative Technologies Transforming Treatment

Cutting-edge technologies are revolutionizing the neurosurgery devices and equipment market. Medtronic's Percept PC Deep Brain Stimulation (DBS) system, launched in January 2021, is a testament to such innovations. With BrainSense technology, it captures brain signals while delivering therapeutic stimulation, providing more personalized and effective treatment for Parkinson's disease, essential tremor, dystonia, and epilepsy. This breakthrough has significant implications for improving patient lives and expanding the reach of DBS therapy.

Regional Dynamics and Market Segmentation

As of 2023, North America stands as the dominant region in the global neurosurgery devices and equipment market, showcasing a proactive embrace of cutting-edge healthcare technologies. Asia-Pacific follows as the second-largest region, indicating the widespread acceptance and utilization of neurosurgery technologies across diverse global markets.

The neurosurgery devices and equipment market covered in this report is segmented –
1) By Device Type: Neuroendoscope, Stereotactic Systems, Aneurysm Clips, Neurostimulation Devices, Cerebrospinal Fluid Management Devices, Neurosurgical Evacuation Device, Neurosurgical Navigation Systems, Neurosurgery Surgical Power Tools, Others(Ultrasonic Aspirators, Surgical Instruments)
2) By Surgery Type: Intracranial Surgery, Endonasal Neurosurgery, Spinal Surgery
3) By End User: Hospitals, Ambulatory Surgical Centers

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Neurosurgery Devices And Equipment Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Neurosurgery Devices And Equipment Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on neurosurgery devices and equipment market size, neurosurgery devices and equipment market drivers and trends, neurosurgery devices and equipment market major players, neurosurgery devices and equipment market competitors' revenues, neurosurgery devices and equipment market positioning, and neurosurgery devices and equipment market growth across geographies. The neurosurgery devices and equipment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the neurosurgery devices and equipment market report and tap into segments with the highest growth potential.

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