At 4.1% CAGR, Global Minimally Invasive Neurosurgery Device Market Size & Share Will Hit US$ 4000 Million by 2028 | Industry Trends, Demand, Growth, Value, Analysis & Forecast Report by Zion Market Research
NEW YORK, July 12, 2022 /PRNewswire/ -- As per Zion Market Research study, The global minimally invasive neurosurgery device market was worth around $2711 million in 2021 and is predicted to grow to around $4000 million by 2028 at a CAGR rate of 4.1% over the forecast period.
Key Industry Insights & Finding of the Minimally Invasive Neurosurgery Device Market Reports:
- As per the analysis shared by our research analyst, the Minimally Invasive Neurosurgery Device Market is expected to grow annually at a CAGR of around 4.1 % (2022-2028).
- Through the primary research, it was established that the Minimally Invasive Neurosurgery Device Market was valued approximately USD 2711 Million in 2021 and is projected to reach to roughly USD 4000 Million by 2028.
- North America is a lucrative contributor to the global minimally invasive neurosurgery device market. This is due to the growing cases of neurological disorders in the region.
- The growing modernization and improvisation of healthcare infrastructures in neurosurgeries amplify the market rate in the Asia-Pacific region.
- There is a conspicuous lack of trained professionals to perform the surgery and also operate this minimally invasive neurosurgery device. This restricts the adaption of minimally invasive neurosurgery devices thereby posing a challenge for market expansion.
- There are improvements in healthcare infrastructure across the world and numerous technological advancements in the neurological sectors have been emerging.
Zion Market Research published the latest report titled as "Minimally Invasive Neurosurgery Device Market By Product (Handheld Devices, Inflation Devices, Surgical Devices, And Endoscopy Devices), By Surgery Type (Urological, Vascular, Cardiac, Cosmetic, And Orthopedic), By End-Users (Hospitals And ASCs), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028." into their research database.
Minimally Invasive Neurosurgery Device Market : Overview
Minimally invasive neurosurgery is done in various parts of the brain, spinal cord, or skull base through a very small dent. The conventional surgical procedures induce lots of trauma and healing takes a lot of time which is quite cumbersome. However, minimally invasive surgery overcomes all these issues and also involves a smaller stay at the hospital post-surgery.
Traditional surgeries are performed with the insertion of laparoscopic equipment which is huge and causes problems after the surgery. Minimally invasive neurosurgery, on the other hand, is done through small incisions and special devices to fix the defective parts. Patients recover faster and their healing is much faster than the former one.
The display lenses ensure clearer visibility to identify any slightest defects in tissues and cells so the diagnosis is precise and quicker. The high-quality devices are inserted through the body parts without much pain and also come across as a safer option for patients. There is better accuracy and lesser loss of blood or any other chance of sudden causalities while the surgery is performed. Neurological and oral surgeries are performed at ease with the help of these devices. The geriatric population benefitted more as the recovery is simpler and faster.
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Industry Dynamics:
Minimally Invasive Neurosurgery Device Market : Growth Drivers
- Growing neurological disorders and improvement in the neurological department boosts market growth
The global minimally invasive neurosurgery device market grows at a significant rate due to frequent increases in the development of the medical field in the neurological department. There has been a constant rise in the geriatric population who seem to have adapted themselves more towards minimally invasive surgery. Neurological disorders among people have become more prominent and consumption & demand for minimally invasive neurosurgery devices have increased. Lifestyle changes that are more raging now make people incline more toward efficient surgery methods like minimally invasive neurosurgery methods. These factors amplify the market rate to a large extent.
Apart from this, there are also ample technological advancements and huge prospects for research analysis based on neurological studies and treatment. This bolsters growth in the market and also paves way for market expansion in the future. Augmented reality and AI tools have been integrated with high-quality minimal invasive devices which increases the leverage of this treatment method.
The efficiency of these surgery methods has induced people to incline more towards this approach over traditional surgery methods. The easy recovery option and faster healing feature of minimally invasive surgeries boost the demand in favor of this thereby propelling the market growth.
Minimally Invasive Neurosurgery Device Market : Restraints
- Shortage of skilled laborers to perform the surgery along with the complexity of these instruments restrict market growth.
The complexity of the minimal invasive neurosurgery devices while they are employed along with the substantial shortage of skilled laborers to operate those instruments hamper the market growth. These devices also cost heavily and reimbursement policies for this treatment in some developing countries are not very satisfying. This factor affects the demand for the devices thereby impeding the growth of the global market as well.
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Minimally Invasive Neurosurgery Device Market: Opportunities
- Growing neurological disorders and increasing healthcare expenditures provide lucrative opportunities for market growth.
There are improvements in healthcare infrastructure across the world and numerous technological advancements in the neurological sectors have been emerging. Apart from this, neurological disorders among people have become more prominent. All these factors provide promising opportunities for the expansion of the global minimally invasive neurosurgery device market.
Minimally Invasive Neurosurgery Device Market: Challenges
- Shortage of trained and skilled professionals to perform this surgery poses a challenge for the market growth
There is a conspicuous lack of trained professionals to perform the surgery and also operate this minimally invasive neurosurgery device. This restricts the adaption of minimally invasive neurosurgery devices thereby posing a challenge for market expansion.
High cost associated with minimally invasive neurosurgery devices challenges market growth
The instruments required for minimally invasive neurosurgery are expensive and their performance is complicated. This factor poses a challenge to the market growth substantially.
Global Minimally Invasive Neurosurgery Device Market : Segmentation
- The global minimally invasive neurosurgery device market is fragmented into products, surgery types, end-users, and regions.
The products are classified into handheld devices, inflation devices, surgical devices, and endoscopy devices. The surgery types are divided into urological, vascular, cardiac, cosmetic, and orthopedic. End users are hospitals and ASCs.
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List of Key Players of Minimally Invasive Neurosurgery Device Market :
- Karl Storz GmbH & Co. KG
- Olympus Corporation
- Conmed Corporation
- Richard Wolf GmbH
- Boston Scientific Inc.
- Integra Lifescience Holdings Corporation
- Aesculap Division
- Smith & Nephew Plc
- Medtronic
- NICO Corp.
Key questions answered in this report:
- What are the growth rate forecast and market size for Minimally Invasive Neurosurgery Device Market ?
- What are the key driving factors propelling the Minimally Invasive Neurosurgery Device Market forward?
- What are the most important companies in the Minimally Invasive Neurosurgery Device Market Industry?
- What segments does the Minimally Invasive Neurosurgery Device Market cover?
- How can I receive a free copy of the Minimally Invasive Neurosurgery Device Market sample report and company profiles?
Report Scope:
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Recent Developments
- In June 2020, Karl Storz GmbH & Co launched six examination rooms for Neurosurgery and ENT treatment at IPS Central Hospital in Paraguay
- IN October 2021, Conmed Corporation launched HD Laparoscopes with enhanced image clarity and progressive sharpness for improved viewing of anatomical structures.
Regional Dominance:
- North America to lead the global market with a considerable revenue share.
North America is a lucrative contributor to the global minimally invasive neurosurgery device market. This is due to the growing cases of neurological disorders in the region. This has also become the most eminent cause of death that many people are inclined towards this surgery. Rapid technological advancement in the medical field with respect to neurological sectors also boosts the market growth. The growing modernization and improvisation of healthcare infrastructures in neurosurgeries amplify the market rate in the Asia-Pacific region. Manufacturers in this region are trying to integrate AI systems into invasive surgery devices which hikes up the demand for minimally invasive neurosurgeries across this region.
Global Minimally Invasive Neurosurgery Device Market is segmented as follows:
Minimally Invasive Neurosurgery Device Market : By Products Outlook (2022-2028)
- Handheld Devices
- Inflation Devices
- Surgical Devices
- Endoscopy Devices
Minimally Invasive Neurosurgery Device Market : By Surgery Types Outlook (2022-2028)
- Urological
- Vascular
- Cardiac
- Cosmetic
- Orthopedic
Minimally Invasive Neurosurgery Device Market : By End-Users Outlook (2022-2028)
- Hospitals
- ASCs
Minimally Invasive Neurosurgery Device Market : By Region Outlook (2022-2028)
North America
- The U.S.
- Canada
Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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