Neurosurgical Product Market: Global Industry Analysis and Forecast to 2020
Neurosurgery or neurological surgery is the medical area of expertise which is specialized in the diagnosis and treatment of the spinal cord, brain and peripheral nerves disorders. Some of the major disorders, such as aneurysms, hydrocephalus, arteriovenous malformations (AVMs) and pituitary and intracranial tumors, require neurosurgery for their treatment. These surgeries are carried out by specific neurosurgical products. For instance, hydrocephalus is characterized by the abnormal accumulation of cerebrospinal fluid in the brain is treated by using aIntracranial shunts. Similarly, aneurysm, weakness in the wall of blood vessel of the brain, is treated by using surgical clips. AVM is characterized by abnormal connection between artery and vein is also treated by surgical clips.
The neurosurgical product market is categorized based on various neurological disorders and by neurosurgery products. The neurological disorder segment is further sub-segmented into Alzheimer’s disease, Parkinson’s disease, head trauma, hydrocephalus, aneurysm, AVMs and pituitary and intracranial tumors. The product segment includes minimally invasive neurointerventional devices, intracranial shunts, aneurysm and AVM clips, embolization products, radio surgery systems and neurosurgical endoscopes. The embolization product sub-segment is divided into endovascular coils and AVM embolization products. The radio surgery system sub-segment includes gamma irradiation systems and proton beam radiation therapy systems.
In terms of geographic, North America dominates the global neurosurgical product market. The U.S. represents the largest market for neurosurgical products followed by Canada in North America. However, Asia is expected to show high growth rates in the next five years in global neurosurgical product market due to increasing investment by manufacturing companies in the region. The low manufacturing cost in Asia attracts manufacturing companies to invest in the region which supports in the growth of neurosurgical product market. China and India are expected to be the fastest growing neurosurgical product market in Asia.
In recent time, rising number of neurological disorders, such as, Parkinson disease, Alzheimer’s disease and trauma, is key driver for the global neurosurgical product market. In addition, rise in geriatric population along with increased demand for minimally invasive surgery techniques is also supporting in growth of the global neurosurgical product market. Minimally invasive surgeries provide less painful surgery which increases the adoption of minimally invasive neurosurgical products and devices for their treatments. However, lack of awareness among people towards neurological disorders obstructs the growth of the global neurological product market.
Some of the major companies operating in the global neurosurgical product market are B. Braun Melsungen AG, KARL STORZ GmbH & Co. KG, Stryker Corporation, Medtronic, Inc., and Integra LifeSciences Holdings Corporation.
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Key points covered in the report
1) Report segments the market on the basis of types, application, products, technology, etc (as applicable)
2) The report covers geographic segmentation North America Europe Asia RoW
3) The report provides the market size and forecast for the different segments and geographies for the period of 2010 to 2020
4) The report provides company profiles of some of the leading companies operating in the market
5) The report also provides porters five forces analysis of the market.-
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