Neurosurgery Devices Market is Expected to Reach $13.5 Billion by 2024

The growing prevalence of neurological diseases, efforts to develop the application base for neuromodulation, and the benefits of neuroendoscopic surgeries over conventional brain surgeries are driving the growth of the neurosurgery devices market.

Neurosurgery Devices Market: Impact Analysis

1. Neurosurgery Devices: Market Overview
2. Neurosurgery Devices Market for Spinal Cord Stimulation
3. Rising Prevalence of Neurological Diseases
4. Emerging Economies
5. Benefits of Neuroendoscopic Surgery

The neurosurgery devices market is expected to grow from USD 7.3 billion in 2019 to USD 13.5 billion in 2024, at a CAGR of 13.0%.

Key Questions Addressed in The Report:

1. Who are the top 10 players operating in the global Neurosurgery Devices market?
2. What are the drivers, restraints, opportunities, and challenges in the Neurosurgery Devices Industry?
3. What are the opportunities for stakeholders and provide details of the competitive landscape for key players?
4. What will be growth of Neurosurgery Devices in North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa?

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Neuromodulation Devices:

The neuromodulation devices segment is projected to register the highest growth during the forecast period. The rising prevalence of neurological disorders and the increasing number of brain surgeries are driving the growth of the neuromodulation devices market.

Parkinson’s disease:

On the basis of application, the market is segmented into spinal cord stimulation, deep brain stimulation, and neuroendoscopy applications. The deep brain stimulation applications market is further segmented into Parkinson’s disease, tremor, depression, and other DBS applications (Alzheimer’s disease, dystonia, and Tourette syndrome). Parkinson’s disease segment accounted for the largest share of the deep brain stimulation applications market in 2018. The large share of this segment can be attributed to the rising incidence of Parkinson’s, along with the growing number of researches conducted in this field.

North America to Dominate The Industry:

North America accounted for the largest share of the market. Factors such as the high prevalence of neurological disorders, large number of neurosurgical procedures performed, and the presence of a favorable reimbursement structure are supporting the growth of the North American neurosurgery devices market. However, the Asia Pacific market is projected to register the highest CAGR of 14.8% during the forecast period, primarily due to the growing geriatric population in Japan and China and healthcare reforms and government initiatives & investments in several APAC countries.

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Key Players:

Major players in this neurosurgery instruments 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).