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The neurosurgery devices and equipment market has seen significant expansion in recent years. It is projected to rise from $8.19 billion in 2023 to $9.26 billion in 2024, with a compound annual growth rate (CAGR) of 13.2%. The growth during the past period can be credited to the rise in neurological disorders, an aging population, interdisciplinary cooperation, and advancements in surgical techniques.
What Is the Projected Market Size of the Global Neurosurgery Devices And Equipment Market and Its Growth Rate?
The neurosurgery devices and equipment market is anticipated to experience significant growth in the coming years, reaching $14.84 billion by 2028 with a compound annual growth rate (CAGR) of 12.5%. This projected growth can be attributed to the increasing adoption of minimally invasive procedures, expansion in emerging markets, regulatory support and reimbursement policies, as well as the rise of telehealth and remote consultation services.
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What are the Key Drivers Fueling Growth in the Neurosurgery Devices And Equipment Market?
The growing geriatric population is expected to drive the future expansion of the neurosurgery devices and equipment market. This demographic includes individuals aged 65 and older, who are more likely to require neurosurgery devices for the diagnosis, treatment, and management of various neurological conditions and disorders.
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Who Are the Key Players Driving Growth in the Neurosurgery Devices And Equipment Market?
Key players in the market include Medtronic plc, Boston Scientific Corporation, Stryker Corporation, Conmed Corporation, Smith & Nephew plc, Integra LifeSciences, Olympus Corporation, Karl Storz GmbH & Co. KG, Richard Wolf GmbH, Johnson & Johnson Services Inc., B. Braun Melsungen AG, Terumo Corporation, Boiotronic Inc., Abbott Laboratories, DePuy Synthes Companies, BrainLAB AG, Zimmer Biomet Holdings Inc., GE Healthcare, NuVasive Inc., ArthroCare Corporation, Vycor Medical Inc., Penumbra Inc.
What Are The Emerging Trends Shaping The Growth Of The Neurosurgery Devices And Equipment Market?
Minimally invasive surgical techniques and methods represent the cutting edge in neurosurgery, offering benefits such as reduced pain compared to traditional open surgeries, quicker recovery periods, minimal scarring, enhanced surgeon maneuverability, and lower equipment expenses. Neuroendoscopy is a type of minimally invasive neurosurgical procedure carried out using specialized devices to treat conditions like hydrocephalus, tumor removal, vascular diseases, and other medical issues. Manufacturers of neurosurgery devices are continuously innovating and incorporating technologies to enhance endoscope-assisted neurosurgery, facilitating effective minimally invasive procedures, advancing clinical practices, and driving new technological progress.
What Are the Segments of the Global Neurosurgery Devices And Equipment Market?
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
Geographic Overview: North America at the Helm of the Neurosurgery Devices And Equipment Market
North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the report during the forecast period. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
How Is The Neurosurgery Devices And Equipment Market Defined?
Neurosurgery devices and equipment are utilized in neurosurgical procedures focused on diagnosing, preventing, and treating disorders that impact various parts of the nervous system.
The Neurosurgery Devices And Equipment Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.
Overview of the Global Neurosurgery Devices And Equipment Market Report: Trends, Opportunities, Strategies, and More
The Neurosurgery Devices And Equipment Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into neurosurgery devices and equipment market size, neurosurgery devices and equipment market drivers and trends, neurosurgery devices and equipment competitors' revenues, and neurosurgery devices and equipment market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.
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