The size of the worldwide market for neurosurgery devices was estimated at USD 10.46 billion in 2022 and is projected to grow at a CAGR of 13.0% to reach USD 36.00 billion in 2032
Increase in prevalence of neurological disorders, surging elderly population, growing demand for minimally invasive surgical procedures, coupled with rapid technological advancements are key factors driving the global neurosurgery devices market.
Neurosurgery devices are widely used for the diagnosis and treatment of disorders of the brain, spinal cord, spinal column, and peripheral nerves. Neurosurgeries are performed for various neurological disorders such as Parkinson's disease, Alzheimer’s disease, chronic pain, epilepsy, spinal cord injury, depression, and traumatic brain injury. Increase in prevalence of neurological disorders will propel the demand for neurosurgery devices over the forecast period. Moreover, rapidly growing elderly patient pool aged 60 years and above is at high risk of developing these neurological disorders. These factors are expected to drive the global neurosurgery devices market in the next few years.
Furthermore, rapid rise in technological advancements and growing adoption of neuroendoscopic surgery over conventional brain surgery are expected to drive the demand for neurosurgery devices in the future. However, high cost of neurosurgery equipment and procedures is expected to hamper the growth of the market over the forecast period.
The global neurosurgery devices market is categorized based on product, application, and region. Based on product, neuromodulation devices segment held the largest share of the market in 2018. Application-wise, deep brain stimulation applications segment is anticipated to grow at a lucrative rate over the forecast period. Geographically, North America dominated the global neurosurgery devices market in 2018, however, Asia Pacific is expected to be the fastest growing region by 2025.
Key players operating in the global neurosurgery devices market include Medtronic plc, Boston Scientific Corporation, B. Braun Melsungen AG, Karl Storz GmbH & Co. KG, Ackermann Instrumente, Nevro Corporation, Adeor Medical, Machida Endoscope Co., Ltd., Integra LifeSciences Corporation, and Hangzhou Hawk Optical Electronic Instruments among others.
Neurosurgery Devices Market Scope
|Revenue forecast in 2032
|US$ 36.00 Bn
|CAGR of 13.0 % during 2022-2032
|by Product, By End User, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|B. Braun Melsungen AG, Medtronic plc, DePuy Synthes, Boston Scientific, Stryker Corp., Terumo Corporation, KARL STORZ GmbH & Co KG, Integra LifeSciences, Penumbra Inc, Adeor Medical AG, Elekta, Clarus Medical, MACHIDA ENDOSCOPE CO., LTD
Key Segment Of The Neurosurgery Devices Market
by Product, (USD Million)
o Neuro Interventional Devices
• Neurovascular Embolization Devices
? Embolization Coils
? Liquid Embolic Systems
? Flow Diversion Stents
? Aneurysm Clips
• Neurovascular Coiling Assist Devices
? Coiling Assist Stents
? Coiling Assist Balloons
• Neurovascular Thrombectomy Devices
? Stent Retrievers
? Aspiration Retrievers
• Support Catheters
• Intracranial Stents
• Flexible Neuroendoscopes
• Rigid Neuroendoscopes
o Neurosurgical Drills
• Pneumatic Neurosurgical Drills
• Electrical Neurosurgical Drills
o Radiosurgery Systems
• Linear Accelerator Radiosurgery Systems
• GammaKnife Radiosurgery Systems
o Dura Substitutes
• Biological Dura Substitutes
• Synthetic Dura Substitutes
o Neurosurgical Ablation Devices
• MRI Guided Focused Ultrasound Systems
• MRI Guided Laser Therapy Systems
• MRI Guided RF Ablation Systems
o Neurosurgery Instruments
• Tissue Retractors
• Head Frames
• Cervical Plating systems
by End User, (USD Million)
• Ambulatory Surgical Centers
• Specialized Neurological Institutes
Regional Overview, (USD Million)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and South Africa
Frequently Asked Questions (FAQ) :
Neurosurgery devices are gaining popularity owing to numerous benefits offered to surgeons such as greater surgical precision, safe operative procedures, and increased patient outcomes. Increasing shift from traditional surgical procedures to minimally invasive techniques will propel growth of neurosurgery devices market in the future. These procedures are performed through smaller incisions rather than large opening leading to lower blood loss and quick recovery of patients. Benefits associated with these less-invasive treatments such as speedy recovery, reduced hospitalization period, curtailed risk of infections and lower operative pain will positively influence market growth over the coming years. Minimally invasive surgeries also reduce the incidence of post-surgical complications thereby stimulating demand. Minimally invasive techniques are used in neuroendoscopy that enable neurosurgeons to reach areas of the brain and spine, which were previously accessible only by invasive approaches. Rapid rise in neurological disorders will lead to increased demand for minimally invasive surgical procedures. This, in turn, is expected to drive the demand for neurosurgery devices in the future. Moreover, major industry players are also investing in R&D to develop technologically advanced neurosurgery devices. For instance, in January 2019, Boston Scientific Corporation launched Vercise Primary Cell (PC) and Vercise Gevia Deep Brain Stimulation (DBS) Systems along with Vercise Cartesia Directional Lead. These advanced systems offer highly-personalized therapy and enable physicians to control range, shape, position and direction of electrical stimulation to treat the symptoms of Parkinson's disease (PD).
The global neurosurgery devices market has been segmented based on product, application, and region. Based on product, the global neurosurgery devices market is categorized into neuromodulation devices and neuroendoscopy devices. Neuromodulation devices are further categorized into internal and external neuormodulation devices. Internal neuromodulation devices are sub-categorized into spinal cord stimulation devices, deep brain stimulation devices, and others. Neuromodulation devices held substantial share of the global market in 2018. However, neuroendoscopy devices are expected to grow at a rapid pace over the coming years. Application-wise, the global neurosurgery devices market is segmented into spinal cord stimulation applications, deep brain stimulation application applications and neuroendoscopy applications. Spinal cord stimulation applications is segmented into chronic pain, failed back surgery syndrome, and ischemia. Deep brain stimulation applications include Parkinson’s disease, tremors, depression, and others. Neuroendoscopy applications segment is categorized into transnasal, intraventricular, and transcranial neuroendoscopy.
The global neurosurgery devices market is cumulative to North America, Europe, Asia Pacific, Latin America and Middle East & Africa. North America dominated the global neurosurgery devices market in 2018, however Asia Pacific is expected to grow at a highest pace through 2025.
Increase in prevalence of neurological disorders along with surging volume of neurosurgeries performed in the U.S. is major factor expected to drive the neurosurgery devices market in the region. According to Parkinson’s Foundation, approximately 1 million Americans were living with Parkinson’s disease in 2019 and is predicted to rise to 1.2 million by 2030. Moreover, the annual incidence of Parkinson’s disease in the U.S. is approximately 60,000 new cases each year. Increase in incidence of the disease is attributable to rapidly growing geriatric population. Presence of such large patient population will increase the surgical volume, thereby, driving the demand for neuromodulation devices in the future. Furthermore, launch of technologically advanced neurosurgery devices by key industry players is other major factor likely to boost the growth of the market in North America.
However, Asia Pacific is expected to grow at a rapid pace over the next few years. There is a strong growth potential in the emerging economies such as India, and China. The rapidly rising geriatric population in countries such as India and China provide large market for neurosurgical devices. Presence of high unmet medical needs along with surge in incidence of neurological disorders in the developing countries will stimulate demand for neurosurgery devices over the coming years.