Neurosurgery Devices And Equipment Global Market Report 2024

The neurosurgery devices and equipment market size has grown rapidly in recent years. It will grow from $8.19 billion in 2023 to $9.26 billion in 2024 at a compound annual growth rate (CAGR) of 13.2%. The growth observed during the historic period in the field of neurosurgery devices and equipment can be attributed to several key factors, including the increasing prevalence of neurological disorders, the aging population, the emphasis on interdisciplinary collaboration among healthcare specialists, and continuous surgical innovation, which has led to the development and adoption of advanced neurosurgical devices and equipment.

The neurosurgery devices and equipment market size is expected to see rapid growth in the next few years. It will grow to $14.84 billion in 2028 at a compound annual growth rate (CAGR) of 12.5%. The expected growth in the forecast period in the field of neurosurgery devices and equipment can be attributed to various factors, including the increasing adoption of minimally invasive procedures, the expansion of emerging markets, regulatory support and reimbursement initiatives, and the integration of telehealth and remote consultation services. Noteworthy trends anticipated during the forecast period encompass the adoption of robotic-assisted surgery in neurosurgery, advancements in imaging and navigation technologies, the application of personalized medicine approaches, and the use of remote monitoring and post-procedure care solutions to improve patient outcomes and recovery.

The increasing prevalence of neurological disorders is a driving force behind the growth of the neurosurgery devices market. Neurological disorders affect the nervous system, which includes the spinal cord and brain, leading to conditions such as epilepsy and Alzheimer's disease. According to an article on US Pharmacist, stroke accounts for 51.3% of the most common neurological disorders, followed by Alzheimer's disease at 21.4%, epilepsy at 11.6%, traumatic brain injury at 6.8%, Parkinson's disease at 4.7%, and brain tumors at 2.8%. Moreover, there is a growing trend in the diagnosis of adult-onset brain disorders, with 1.2 million people affected. As these disorders continue to rise, the demand for neurosurgery devices and equipment is expected to increase. The Alzheimer's Association projects that as the U.S. population aged 65 and older grows, the number of Americans with Alzheimer's is set to rise from 6.2 million in 2021 to 13.8 million by 2060.

The primary categories of neurosurgery devices and equipment include the neuroendoscope, stereotactic systems, aneurysm clips, neurostimulation devices, cerebrospinal fluid management devices, neurosurgical evacuation devices, neurosurgical navigation systems, neurosurgery surgical power tools, and other specialized equipment such as ultrasonic aspirators and various surgical instruments. The neuroendoscope is a valuable device that allows neurosurgeons to perform less invasive procedures and surgical approaches, minimizing disruption to surrounding tissues. Neurosurgical procedures can be broadly classified into intracranial surgery, endonasal neurosurgery, and spinal surgery, each with its unique set of challenges and requirements. These devices find application in healthcare settings such as hospitals and ambulatory surgical centers.

The neurosurgery devices and equipment market research report is one of a series of new reports that provides neurosurgery devices and equipment market statistics, including neurosurgery devices and equipment industry global market size, regional shares, competitors with a neurosurgery devices and equipment market share, detailed neurosurgery devices and equipment market segments, market trends and opportunities, and any further data you may need to thrive in the neurosurgery devices and equipment industry. This neurosurgery devices and equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The growth in the geriatric population is anticipated to drive the expansion of the neurosurgery devices and equipment market. The geriatric population comprises individuals aged 65 and older, and neurosurgery devices and equipment are commonly used for diagnosing, treating, and managing neurological conditions and disorders in this demographic. In October 2022, the World Health Organization (WHO) reported that by 2050, 80% of older individuals will reside in low- and middle-income countries. During the period from 2015 to 2050, the proportion of the global population over the age of 60 is expected to nearly double from 12% to 22%. Consequently, the growth in the geriatric population is poised to be a key driver of the neurosurgery devices and equipment market.

The neurosurgery devices market is constrained by the stringent approval process of the U.S. Food and Drug Administration (FDA). The FDA takes approximately six months to approve premarket submissions to ensure the safety and effectiveness of medical devices. A significant portion of neurosurgery devices requires premarket approval from the FDA before they can enter the market. For instance, in the U.S., only 31% of medical devices have received clearance from the FDA in premarket submissions, with the remaining 69% being rejected. Manufacturers must navigate the technical assessment process, plan their work accordingly, and establish estimated approval timelines. Additionally, dealing with license validity and application renewals places an additional burden on manufacturers. Hence, neurosurgery device manufacturers need careful planning and effective communication to minimize costs and reduce approval timelines.

The development of minimally invasive surgical techniques and approaches has become a frontier in neurosurgery, resulting in reduced pain, shorter recovery periods, minimal scarring, enhanced surgical mobility, and lower equipment costs. Neuroendoscopy is one such minimally invasive neurosurgical procedure performed with neurosurgery devices to address conditions such as hydrocephalus, tumor removal, vascular disease treatment, and other neurological disorders. Manufacturers of neurosurgery devices are innovating and integrating technologies to facilitate advanced endoscope-assisted neurosurgery, promoting efficient minimally invasive procedures, operative techniques, clinical advancements, and technological breakthroughs. Hospitals, ambulatory surgical centers, and other end-users are employing smartphones alongside endoscopes for safe and efficient endoscope-assisted neurosurgery. Institutions like New York-Presbyterian Hospital/Columbia University Medical Center prefer minimally invasive neurosurgeries over open procedures, utilizing specialized instruments and technologies, including camera-assisted endoscopes, high-powered operating microscopes, computer-assisted navigation systems, to treat conditions in both adults and children.

Prominent companies in the neurosurgery devices and equipment market are dedicated to developing cutting-edge technologies, such as the Percept PC Deep Brain Stimulation (DBS) system, designed to enhance the effectiveness of DBS therapy and extend its benefits to a broader range of patients. The Percept PC Deep Brain Stimulation (DBS) system, empowered by BrainSense technology, is engineered to capture brain signals while concurrently delivering therapeutic stimulation, both within and outside clinical settings. For example, in January 2021, Medtronic plc., an Ireland-based medical technology company, launched the Percept PC Deep Brain Stimulation (DBS) system, representing a state-of-the-art DBS system intended to provide more personalized and effective treatment for individuals with conditions such as Parkinson's disease, essential tremor, dystonia, and epilepsy. This advancement in DBS technology holds significant promise in enhancing the quality of life for thousands of patients.

The European Commission has introduced two new regulations for medical devices to enhance safety, enable effective measures during concerns, and improve traceability. These regulations grant medical device manufacturers an increased mandate for independent assessment by notified bodies, introduce a unique identification number to enhance traceability throughout the supply chain, provide access to clinical data on devices, and establish a central database offering comprehensive information to patients, healthcare professionals, and the public regarding products. These rules empower manufacturers to meet safety standards, regulatory requirements, and make well-informed decisions.

Major companies operating in the neurosurgery devices and equipment 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., Leica Camera, Carl Zeiss AG, Moller-wedel Optical GmbH, Synaptive Medical Inc., Mizuho OSI, Monteris Medical Inc., NeuroLogica Corporation, NeuroPoint Alliance (NPA), Neurosurgery Research and Education Foundation (NREF), AiM Medical Robotics, Inner Cosmos Inc., AcureX Therapeutics, Novadip Biosciences, Rebstock Instruments GmbH, AKTORmed GmbH

North America was the largest region in the global neurosurgery devices and equipment market in 2023. Asia-Pacific was the second-largest region in the neurosurgery devices and equipment market. The regions covered in the neurosurgery devices and equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the neurosurgery devices and equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.

The neurosurgery devices and equipment market consists of sales of neurostimulation devices, neuroendoscope, cerebrospinal fluid management devices, neurosurgical evacuation device, neurosurgery surgical power tools, ultrasonic aspirators, and surgical instruments. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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