Increase in Prevalence of neurological surgeries to Drive Global Neurosurgical Robotics Market

According to our latest study, "Neurosurgical Robotics Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Application, Surgery Type, End-User, and Region," the market was valued at US$ 1,691.02 million in 2021 and is projected to reach US$ 4,729.86 million by 2028; it is estimated to grow at a CAGR of 16.1% from 2022 to 2028.

The report highlights the key factors driving the market and prominent players' developments. The growth of the neurosurgical robotics market is primarily attributed to the rising prevalence of surgical procedures and increasing awareness about technological advancement. However, the high cost of installation of neurosurgical robots hampering the market's growth.

Robots have become a reality in many surgical fields, and its popularity is quickly increasing. Much of this popularity stems from the desire to provide patients with the least invasive surgery options available since minimally invasive surgery is associated with fewer complications, shorter hospital stays, and improved cosmetic results. Over the last 20 years, neurosurgical robots have increasingly assisted in neurosurgical procedures. In recent years, neurosurgical robots have been developed to perform various procedures. Public demand is informing the direction of neurosurgery and placing greater pressure on neurosurgeons to use neurosurgical robots. The increasing diversity and sophistication of neurosurgical robots have received ethical scrutiny due to the surgical complications that may arise as well as the role of robots in the future.

Rise in Number of Neurosurgical Procedures

The growing prevalence of neurological disorders, including epilepsy, Parkinson's disease, head injury, brain tumors, brain stroke, and hydrocephalus, raises the need for neurosurgeries. Also, several subspecialties of neurosurgery, such as pediatric neurosurgery, functional neurosurgery, neurovascular surgery, traumatology, skull-base surgery, and spinal surgery, are among the most technical and skilled areas of surgery.

According to an article entitled "Emphasizing the Role of Neurosurgery Within Global Health and National Health Systems" published in Frontiers Media S.A. in 2021, due to the increasing incidence of traumatic brain injury (TBI) and hydrocephalus, 22.6 million individuals worldwide need neurological care annually. Among these patients, 13.8 million individuals require neurosurgery. As per the data published by Centers for Disease Control and Prevention (CDC), the US recorded ~223,135 TBI-related hospitalizations in 2019 and 64,362 TBI-related deaths in 2020. Also, as per an article published in 2022 in The Lancet entitled "The future research path of traumatic brain injury, " more than 27 million new cases of TBI are reported worldwide every year. TBI can be treated by neurosurgical procedures. Therefore, the rising cases of TBI due to several factors, including falls, sports injuries, road accidents, domestic violence, and military incidents, propel the demand for neurosurgical procedures.

According to World Health Organization (WHO) data published in June 2022, ~50 million people have epilepsy worldwide, and it is one of the most common neurological diseases. Nearly 80% of epilepsy patients are in low- and middle-income countries. Additionally, an estimated 5 million people are diagnosed with epilepsy each year. The patients who poorly respond to drug treatment undergo surgery. Therefore, the growing incidence of epilepsy propels the need for neurosurgical procedures. Thus, an increase in the number of neurosurgeries drives the growth of the neurosurgical robotics market.

Component-Based Insights

Based on component type, the global neurosurgical robotics market is segmented into equipment, accessories, and services. The equipment market is further classified into robotic machine, navigation system, planner and simulators, and others. The accessories segment held the largest share of the market in 2021, Application Type-Based Insights

The global neurosurgical robotics market, based on application, is segmented into spinal and cranial. Spinal application is further segmented into spinal fusion, laminectomy, disc replacement, discectomy, foraminotomy, and others. Cranial is also segmented into brain biopsy, thermal ablation of seizure, surgical treatment of movement disorders, and others. In 2021, the spinal segment held the largest share of the market.

Surgery Type-Based Insights

The global neurosurgical robotics market, based on the surgery type, is segmented into open and minimally invasive. In 2021, the minimally invasive segment held the largest market share.

End User-Based Insights

Based on end-users type, the global neurosurgical robotics market is segmented into hospitals, specialty centers, and others. In 2021, the hospital's segment held the largest share of the market, owing to the medical advantages and usage of surgical robotic systems in the spinal and cranial surgical procedures at a higher amount

Globus Medical, Inc., Renishaw plc, Accuray Incorporated, NuVasive, Inc, Brainlab AG, Zimmer Biomet, and Synaptive Medical, Inc. are among the leading companies operating in the neurosurgical robotics market.

The report segments the Neurosurgical Robotics market as follows:

Based on component type, the global neurosurgical robotics market is segmented into equipment, accessories and services. The global neurosurgical robotics market, based on application, is segmented into spinal and cranial. Spinal application is further segmented into spinal fusion, laminectomy, disc replacement, discectomy, foraminotomy, and others. Cranial is also segmented into brain biopsy, thermal ablation of seizure, surgical treatment of movement disorders, and others. The global neurosurgical robotics market, based on surgery type, is segmented into open and minimally invasive. Based on end-users' type, the global neurosurgical robotics market is segmented into hospitals, specialty centers, and others. By geography, the Neurosurgical Robotics market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and the Rest of the Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America).

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