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Neurosurgical Products Market Analysis (2020-2027)

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Neurosurgical Products Market Analysis (2020-2027)

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. NEUROSURGICAL PRODUCTS MARKET ANALYSIS(2020-2027) • Neurosurgical Products Market, By Product Type (Shunts, Neurosurgical endoscopes, Stereo tactic radiosurgery systems, Embolization products, Aneurysm and AVM clips, Others), By Condition (Aneurysms, Pituitary and Intracranial tumors, Arteriovenous malformations, Hydrocephalus, Others), By Surgery (Minimally Invasive Surgery, Open Surgery), By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

  3. Neurosurgical products are used in the treatment of neurological disorders such hydrocephalus, aneurysms, arteriovenous malformations, and pituitary and intracranial tumors. Statistics: • The global neurosurgical products market is estimated to account for US$ 13,203.7 Mn in terms of value by the end of 2027.

  4. Global Neurosurgical Products Market: Drivers • Increasing prevalence of neurological disorders is expected to propel growth of the global neurosurgical products market over the forecast period. For instance, according to the study, ‘Prevalence and clinical associations of disproportionately enlarged subarachnoid space hydrocephalus, an imaging feature of idiopathic normal pressure hydrocephalus’, published in Fluids and Barriers of the CNS, in 2019, the prevalence of Disproportionately Enlarged Subarachnoid space Hydrocephalus was 1.1% in the memory clinic and 1.0% in the community, which increased with age.

  5. Moreover, increasing geriatric population is also expected to aid in growth of the market. For instance, according to Office of National Statistics, U.K. 2018, there are nearly 12 million people aged 65 and above in the U.K. of which 5.4 million people are aged over 75, 1.6 million are aged over 85, over 500,000 people are over 90, and 14,430 are centenarians.  Statistics: • North America held dominant position in the global neurosurgical products market in 2019, accounting for 41.6% share in terms of value, followed by Europe and Asia Pacific, respectively

  6. Figure 1: Global Neurosurgical Products Market Share (%) Value, By Region, 2019

  7. Global Neurosurgical Products Market: Restraints • Availability of alternatives is expected to hinder growth of the market. The presence of alternative treatments such as drug therapies for the treatment of neurological disorders limits adoption of neurosurgical products. • Moreover, product recalls are also expected to limit growth of the market. For instance, in March 2020, Medtronic plc recalled pipeline flex embolization devices due to risk of device fracture.

  8. Global Neurosurgical Products Market: Opportunities  • Increasing demand for minimally invasive surgeries is expected to offer lucrative growth opportunities for players in the global neurological products market. Minimally invasive surgeries either require small incision or are completely noninvasive. Minimally invasive surgeries, such as radiosurgery, can be completed in just a few sessions and involve very little patient recovery time. In addition, minimally invasive surgeries are relatively cost effective as compared to open surgeries.

  9. Moreover, increasing awareness regarding hydrocephalus is also expected to aid in growth of the market. For instance, in September 2019, The WALKs kick off Hydrocephalus Awareness Month was observed in the U.S. Statistics: • The global neurosurgical products market was valued at US$ 5,610.4 Mn in 2019 and is forecast to reach a value of US$ 13,203.7 Mn by 2027 at a CAGR of 11.3% between 2020 and 2027.

  10. Figure 2: Global Neurosurgical Products Market Value (US$ Bn), 2016 – 2027

  11. Market Trends/Key Takeaways • Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in September 2019, Integra LifeSciences Holdings Corporation acquired Rebound Therapeutics, a developer of single-use medical devices that enable minimally invasive access in neurosurgery. • Major players in the market are also focused approval and launch of new products to expand their product portfolio. For instance, in April 2019, Insera Therapeutics, Inc. received CE Mark approval for its CLEAR Aspiration System, for the aspiration of blood clots, and is indicated for use in patients with acute ischemic stroke secondary to intracranial large vessel occlusive disease.

  12. Global Neurosurgical Products Market: Competitive Landscape • Major players operating in the global neurosurgical products market include, Integra LifeSciences Holdings Corporation, KARL STORZ GmbH & Co. KG, Medtronic plc, Johnson & Johnson Services, Inc., Stryker Corporation, Elekta AB, Terumo Corporation, Penumbra, Inc., B. Braun Melsungen AG, and Varian Medical Systems, Inc.

  13. Global Neurosurgical Products Market: Key Developments • Major players in the market are focused on adopting M&A strategies to expand their product portfolio. For instance, in February 2020, Medtronic plc acquired Digital Surgery, a privately-held provider of surgical artificial intelligence, data and analytics, and digital education and training solutions. • Similarly, in July 2019, Integra LifeSciences Holdings Corporation acquired Arkis Biosciences Inc., a privately-held company that offers a portfolio of neurosurgical devices

  14. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now Reference: https://www.coherentmarketinsights.com/market-insight/neurosurgical-products-market-3909

  15. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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