DUBLIN--(BUSINESS WIRE)--The "Neurosurgery Devices Market by Product (Neuromodulation [Spinal Cord Stimulation, Deep Brain Stimulation] Neuroendoscopy), Application (Chronic Pain, Depression, Parkinsons, Ischemia, Transnasal Neuroendoscopy), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The neurosurgery devices market is projected to reach USD 13.47 billion by 2024 from USD 7.31 billion in 2019, at a CAGR of 13.0% during the forecast period.
- This report studies the neurosurgery devices market based on product, application, and region.
- The report also studies the different factors (such as drivers, restraints, opportunities, and challenges) affecting market growth.
- It analyzes the opportunities and challenges in the market and provides details of the competitive landscape for market leaders.
- Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to four main regions and respective countries.
Growth in this market can be attributed to the rising prevalence of neurological disorders, efforts to develop the application base for neuromodulation, the benefits of neuroendoscopic surgeries over conventional brain surgeries, and the growing prevalence of neurological diseases.
However, the high cost of neuroendoscopy procedures and equipment, along with a dearth of a trained workforce, is expected to limit market growth to a certain extent during the forecast period.
Major players in this market include B. Braun Melsungen (Germany), Medtronic (US), Boston Scientific Corporation (US), Nevro Corporation (US), KARL STORZ (Germany), Abbott (US), Ackermann Instrumente (Germany), Hawk (China), Machida Endoscope (Japan), and adeor Medical (Germany).
The internal neuromodulation devices segment accounted for the largest share of the neuromodulation devices market in 2018
On the basis of product, the neurosurgery devices market is segmented into neuromodulation devices and neuroendoscopy devices. The neuromodulation devices market is further segmented into internal neuromodulation devices and external neuromodulation devices. The internal neuromodulation devices segment accounted for the largest share of the neuromodulation devices market in 2018. The large share of this segment is attributed to the rising number of neurological disorders owing to the rising geriatric population globally.
The chronic pain applications segment will continue to dominate the spinal cord stimulation applications market during the forecast period
On the basis of application, the neurosurgery devices market is segmented into spinal cord stimulation, deep brain stimulation, and neuroendoscopy applications. The spinal cord stimulation applications market is further segmented into chronic pain, failed back surgery syndrome, and ischemia. The chronic pain segment accounted for the largest share of the spinal cord stimulation applications market in 2018. The large share of this segment can be attributed to the growing geriatric population and the increasing incidence of age-related neurological disorders.
The neurosurgery devices market in the Asia Pacific region is expected to witness the highest growth rate during the forecast period
Geographically, the neurosurgery devices market is segmented into North America, Europe, Asia Pacific (APAC), and the Rest of the World. The Asia Pacific market is expected to grow at the highest CAGR during the forecast period, primarily due to the large population in Asia (India and China account for over one-third of the global population) as well as the rising geriatric population in Asian countries.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Neurosurgery Devices: Market Overview
4.2 Neurosurgery Devices Market for Spinal Cord Stimulation, By Type, 2019 vs 2024 (USD Million)
4.3 Deep Brain Stimulation Applications Market, By Type, 2019 vs 2024 (USD Million)
4.4 Market: Geographic Growth Opportunities
5 Market Overview
5.2 Market Dynamics
220.127.116.11 Research Into Expanding Applications of Neuromodulation
18.104.22.168 Benefits of Neuroendoscopic Surgery Over Conventional Brain Surgery
22.214.171.124 Rising Prevalence of Neurological Diseases
126.96.36.199 High Cost of Neuroendoscopy Procedures and Equipment
188.8.131.52 Emerging Economies
184.108.40.206 Dearth of Trained Professionals
6 Neurosurgery Devices Market, By Product
6.2 Neuromodulation Devices
6.2.1 Internal Neuromodulation Devices
6.2.2 Spinal Cord Stimulation Devices
220.127.116.11 SCS Devices Dominate the Internal Neuromodulation Devices Market as They are Cost-Efficient
6.2.3 Deep Brain Stimulation Devices
18.104.22.168 Growing Prevalence of Parkinson's Disease and Other Neurological Disorders to Fuel Market Growth
6.2.4 Other Internal Neuromodulation Devices
6.3 External Neuromodulation Devices
6.3.1 Rising Demand for Noninvasive Neuromodulation Techniques to Drive the Adoption of External Neuromodulation Devices
6.4 Neuroendoscopy Devices
6.4.1 Low Cost, Smaller Incisions, and Reduced Hospital Stay are Some of the Advantages Associated With Neuroendoscopy Devices
7 Neurosurgery Devices Market, By Application
7.2 Spinal Cord Stimulation Market
7.2.1 Chronic Pain
22.214.171.124 Spinal Cord Stimulation is the Standard Procedure for Patients With Chronic Pain
7.2.2 Failed Back Surgery Syndrome (FBSS)
126.96.36.199 Treatments Such as Chiropractic and Acupressure are Expected to Hamper the Growth of the Market for FBSS
188.8.131.52 High Incidence of Ischemia to Drive the Demand for Neurosurgery Devices
7.3 Deep Brain Stimulation Market
7.3.1 Parkinson's Disease
184.108.40.206 Rising Incidence of Parkinson's and the Growing Number of Researches Conducted in This Field to Drive Market Growth
220.127.116.11 Rising Geriatric Population and the High Efficacy of DBS to Support Market Growth
18.104.22.168 DBS Therapies to Treat Depression Involve Activating the Brain Directly With Magnets, Implants, and Electricity
7.3.4 Other DBS Applications
7.4.1 Transnasal Neuroendoscopy
22.214.171.124 Transnasal Neuroendoscopy is Indicated for Biopsies, Removal of Cysts, and Removal of Pituitary Gland Tumors
7.4.2 Intraventricular Neuroendoscopy
126.96.36.199 Ease of Use, Increased Visibility, and Treatment of A Large Number of Neurological Conditions - Key Advantages of Intraventricular Neuroendoscopy
7.4.3 Transcranial Neuroendoscopy
188.8.131.52 Transcranial Approach is More Invasive as Compared to the Transnasal Neuroendoscopic Approach
8 Neurosurgery Devices Market, By Region
8.2 North America
184.108.40.206 The US Dominates the North American Neurosurgery Devices Market Due to the High Prevalence of Traumatic Brain Injuries
220.127.116.11 Favorable Government Initiatives to Support Market Growth in Canada
18.104.22.168 The Strong Presence of Key Neurosurgery Equipment Manufacturers to Support Market Growth
22.214.171.124 High Burden of Brain Tumors to Fuel Market Growth
126.96.36.199 Rising Geriatric Population and the Associated Increase in the Prevalence of Neurological Disorders to Drive the Demand for Neurosurgery Devices
8.4 Asia Pacific
8.5 Rest of the World
9 Competitive Landscape
9.2 Neurosurgery Instruments Market Share Analysis
9.3 Competitive Leadership Mapping
9.3.1 Visionary Leaders
9.3.3 Dynamic Differentiators
9.3.4 Emerging Companies
9.4 Competitive Scenario
9.4.1 Product Launches
9.4.4 Joint Ventures
10 Company Profiles
10.1 B. Braun Melsungen
10.3 Boston Scientific Corporation
10.4 Nevro Corporation
10.5 Karl Storz
10.7 Ackermann Instrumente
10.8 Adeor Medical
10.9 Hangzhou Hawk Optical Electronic Instruments
10.10 Machida Endoscope Co. Ltd.
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