Global Neurosurgery Surgical Power Tools Market, Tool Type (Drill, Reamer, Saw, Others), Power Type (Pneumatic, Electric, Battery Powered), End-User (Neurosurgical Centers, Hospitals) – Industry Trends and Forecast to 2029
Neurosurgery Surgical Power Tools Market Analysis and Size
The neurosurgery surgical power tools market is rapidly growing as the key market players operating in the global neurosurgery surgical power tools market are focused on increasing their product portfolio by developing new products with greater effectiveness and advanced features. Increasing the adoption of minimally invasive neurosurgeries and increasing prevalence of cerebral disorders are key factors driving the market growth.
Data Bridge Market Research analyses that the neurosurgery surgical power tools market which was USD 1.27 billion in 2021, would rocket up to USD 1.75 billion by 2029, and is expected to undergo a CAGR of 4.10% during the forecast period 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Tool Type (Drill, Reamer, Saw, Others), Power Type (Pneumatic, Electric, Battery Powered), End-User (Neurosurgical Centers, Hospitals)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Market Players Covered
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Medtronic (Ireland), B. Braun Melsungen AG (Germany), Stryker (U.S.), Brainlab AG (Germany), Integra LifeSciences (U.S.), Scopis GmbH (Germany), Boston Scientific Corporation (U.S.), Elekta (Sweden), Cyberonics, Inc. (U.S.), Micromar Ind. e Com. LTDA (Spain), Neuros Medical (U.S.), SPR Therapeutics (U.S.), Synapse Biomedical Inc. (U.S.), KARL STORZ (Germany), Abbott (U.S.)
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Market Opportunities
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Market Definition
Neurosurgeries and minimally invasive neurosurgeries are performed using surgical power tools. These tools consist of drills, saws, reamers, among others. Aneurysms, stroke, Alzheimer's, Parkinson's, degenerative diseases, and spinal cord and brain injuries are just a few examples of the neurological problems that can be diagnosed and treated using neurosurgery.
Neurosurgery Surgical Power Tools Market Dynamics
Drivers
- Increase in neurological illnesses
The market is being supported by factors such as the widespread usage of devices in end-user markets such as hospitals and neurosurgical centres, their usefulness in operations such as craniotomies and skull-based surgeries, and the sharp increase in neurological illnesses among the ageing population.
- Government initiatives
According to the administration for community living, geriatric population (65 years and above) in the U.S. stood at 46.2 million in 2014. Aging is associated with a large number of diseases and disorders. Majority of elderly people suffer from neurological disorders. Therefore, growth in aging population is likely to drive the global neurosurgery surgical power tools market during the forecast period 2022-2029.
- Rise in the number of minimally invasive surgeries
Upsurge in incidence of neurological disorders, growth in geriatric population, and rise in the number of neurosurgery performed is driving the global neurosurgery surgical power tools market. Moreover, rapid rise in the number of minimally invasive surgeries and increase in the purchasing power of hospitals are anticipated to boost the growth of the global neurosurgery surgical power tools market during the forecast period.
Opportunities
The neurosurgery surgical power tools market's growth is fuelled by a rise in the technological advancements, and a huge influx of investments by the private players in the research and development in this field. This will provide beneficial opportunities for the neurosurgery surgical power tools market growth.
Moreover, increase in the number of emerging markets and new product launches will further provide beneficial opportunities for the neurosurgery surgical power tools market growth during the forecast period.
Restraints/Challenges
- High cost
On the other hand, high cost of neurosurgery surgical power tools and lack of skilled professions are expected to restrain the growth of the global neurosurgery surgical power tools market during the forecast period.
This neurosurgery surgical power tools market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the neurosurgery surgical power tools market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Neurosurgery Surgical Power Tools Market Scope
The neurosurgery surgical power tools market is segmented on the basis of tool type, power type and end-user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Tool Type
- Drill
- Reamer
- Saw
- Others
Power Type
- Electrical
- Pneumatic
- Battery Powered
End-User
- Neurosurgical Centers
- Hospitals
Neurosurgery Surgical Power Tools Market Regional Analysis/Insights
The neurosurgery surgical power tools market is analysed and market size insights and trends are provided by country, tool type, power type and end-user as referenced above.
The countries covered in the neurosurgery surgical power tools market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the neurosurgery surgical power tools market owing to the robust growth in its healthcare industry.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 due to strategic initiatives adopted by key players operating in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The neurosurgery surgical power tools market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for neurosurgery surgical power tools market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the neurosurgery surgical power tools market. The data is available for historic period 2010-2020.
Competitive Landscape and Neurosurgery Surgical Power Tools Market Share Analysis
The neurosurgery surgical power tools market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to neurosurgery surgical power tools market.
Some of the major players operating in the neurosurgery surgical power tools market are:
- Medtronic (Ireland)
- B. Braun Melsungen AG (Germany)
- Stryker (U.S.)
- Brainlab AG (Germany)
- Integra LifeSciences (U.S.)
- Scopis GmbH (Germany)
- Boston Scientific Corporation (U.S.)
- Elekta (Sweden)
- Cyberonics, Inc. (U.S.)
- Micromar Ind. e Com. LTDA (Spain)
- Neuros Medical (U.S.)
- SPR Therapeutics (U.S.)
- Synapse Biomedical Inc. (U.S.)
- KARL STORZ (Germany)
- Abbott (U.S.)
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