NEUROSURGICAL PRODUCTS MARKET ANALYSIS | Coherent Market Insights

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• NEUROSURGICAL PRODUCTS MARKET ANALYSIS
• 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
• Neurosurgical products are used in the treatment
  of neurological disorders such hydrocephalus,
  aneurysms, arteriovenous malformations, and
  pituitary and intracranial tumors.

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• 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.
• 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.
• 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.

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• 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.

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• 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.
• 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.
• 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.

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Neurosurgical Products Market Report Coverage
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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.
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• Market Trends/Key Takeaways
• Major players in the market are focused on
  adopting MA 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.

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• 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.
• Global Neurosurgical Products Market Key
  Developments
• Major players in the market are focused on
  adopting MA 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

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