Dublin, Feb. 15, 2023 (GLOBE NEWSWIRE) -- The "Neurosurgery Devices And Equipment Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global neurosurgery devices and equipment market will grow from $7.17 billion in 2022 to $8.12 billion in 2023 at a compound annual growth rate (CAGR) of 13.2%. The neurosurgery devices and equipment market is expected to grow to $12.93 billion in 2027 at a CAGR of 12.3%.
North America was the largest region in the neurosurgery devices and equipment market in 2022. Asia Pacific was the second-largest region in the neurosurgery devices and equipment market. The regions covered in the neurosurgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The rise in neurological disorders is driving the neurosurgery devices market. A neurological disorder is caused due to the effect on the nervous system which includes the spinal cord, and brain. These disorders include epilepsy and Alzheimer's. According to an article on US Pharmacist, out of the most common neurological disorders, stroke accounts for 51.3%, Alzheimer's disease 21.4%, Epilepsy 11.6%, traumatic brain injury 6.8%, Parkinson's disease 4.7%, and brain tumor 2.8%.
Furthermore, 1.2 million people are frequently diagnosed with adult-onset brain disorders. An increase in these disorders is driving the growth of the neurosurgery devices and equipment market. According to the Alzheimers Association, millions of Americans have Alzheimer's or other dementias. As the size and proportion of the U.S. population age 65 and older continue to increase, the number of Americans with Alzheimer's will grow from 6.2 million in 2021 to 13.8 million by 2060 .
The stringent US FDA approval process is restraining the Neurosurgery devices market. US FDA takes around 6 months to approve the premarket submissions to demonstrate the device and check if the device is safe and effective. Most of the neurosurgery devices should get premarket approval from the FDA before entering into the market.
For example, In the US, only 2,800 (31%) medical devices have cleared the FDA premarket submissions, and the remaining 69% are rejected. However, the technical sections' assessment is done simultaneously and therefore the manufacturers should identify the time taking steps and plan the work accordingly and plan an estimated date of approval. Also, the license validity and renewal of the application take a toll on the manufacturer and add to the existing regulatory burden. Therefore, the manufacturers of neurosurgical devices should plan well and communicate effectively to minimize the costs and reduce timelines.
Minimally invasive surgical procedures and approaches are the new frontiers in neurosurgery as they result in less pain than open surgeries, shorter recovery times, less scarring, increase surgeon mobility and reduce equipment costs. Neuroendoscopy is a minimally invasive neurosurgical procedure performed through neurosurgery devices to correct hydrocephalus, remove tumors, treat vascular disease, and manage other disorders.
Neurosurgery device manufacturers are innovating and integrating technologies for advanced endoscope-assisted neurosurgery to provide efficient minimally invasive surgeries, operative procedures, clinical advances, and new technological developments.
For instance, end-users such as hospitals, ambulatory surgical centres, and others are using smartphones with endoscopes for performing safe and efficient endoscope-assisted neurosurgery. In New York-Presbyterian Hospital/Columbia University Medical Center, minimally invasive neurosurgeries are preferred over open surgeries with the help of specialized instruments and technologies such as a camera-assisted endoscope, high-powered operating microscope, computer-assisted navigation system, and others to treat conditions in adults and children.
The European Commission adopted two new regulations for medical devices to enhance safety, take effective measures in the event of concerns, and improve traceability. These regulations provide the medical device manufacturers with a stronger mandate for assessment of medical devices by independent notified bodies, a unique identification number for improving traceability throughout the supply chain, availability of clinical data on devices, and provides a central database to provide patients, healthcare professionals and the public with comprehensive information on products. These rules help manufacturers to meet the standards, safety requirements and to make better-informed decisions.
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Scope
Markets Covered:
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
| Report Attribute | Details |
| No. of Pages | 250 |
| Forecast Period | 2023 - 2027 |
| Estimated Market Value (USD) in 2023 | $8.12 billion |
| Forecasted Market Value (USD) by 2027 | $12.93 billion |
| Compound Annual Growth Rate | 12.3% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Neurosurgery Devices And Equipment Market Characteristics
3. Neurosurgery Devices And Equipment Market Trends And Strategies
4. Neurosurgery Devices And Equipment Market - Macro Economic Scenario
5. Neurosurgery Devices And Equipment Market Size And Growth
6. Neurosurgery Devices And Equipment Market Segmentation
7. Neurosurgery Devices And Equipment Market Regional And Country Analysis
8. Asia-Pacific Neurosurgery Devices And Equipment Market
9. China Neurosurgery Devices And Equipment Market
10. India Neurosurgery Devices And Equipment Market
11. Japan Neurosurgery Devices And Equipment Market
12. Australia Neurosurgery Devices And Equipment Market
13. Indonesia Neurosurgery Devices And Equipment Market
14. South Korea Neurosurgery Devices And Equipment Market
15. Western Europe Neurosurgery Devices And Equipment Market
16. UK Neurosurgery Devices And Equipment Market
17. Germany Neurosurgery Devices And Equipment Market
18. France Neurosurgery Devices And Equipment Market
19. Eastern Europe Neurosurgery Devices And Equipment Market
20. Russia Neurosurgery Devices And Equipment Market
21. North America Neurosurgery Devices And Equipment Market
22. USA Neurosurgery Devices And Equipment Market
23. South America Neurosurgery Devices And Equipment Market
24. Brazil Neurosurgery Devices And Equipment Market
25. Middle East Neurosurgery Devices And Equipment Market
26. Africa Neurosurgery Devices And Equipment Market
27. Neurosurgery Devices And Equipment Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Neurosurgery Devices And Equipment Market
29. Neurosurgery Devices And Equipment Market Future Outlook and Potential Analysis
30. Appendix
A selection of companies mentioned in this report includes
- Medtronic
- Boston Scientific Corporation
- Stryker
- Conmed Corporation
- Smith & Nephew
- Integra LifeSciences.
- Olympus Corporation
- NICO
- Karl Storz GmbH & Co. KG
- Richard Wolf GmbH
- Aesculap Division
- Johnson & Johnson Services
- B. Braun Melsungen AG
- Terumo corporation
- Boiotronic
- Abbott Laboratories
- DePuy Synthes
- B.Braun
- Brainlab
- Zimmer Holdings
- Richard Wolf
- GE Healthcare
- NuVasive
- ArthroCare Corporation
- Vycor
- Penumbra
- Leica
- Zeiss
- Moller-wedel
For more information about this report visit https://www.researchandmarkets.com/r/v4zj7g
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