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A neurosurgery is also known as neurological surgery or a brain surgery. It is the medical specialty deals with the diagnosis, prevention, surgery, treatment and rehabilitation of disorders which can affect any area of nervous system including spinal cord, brain, PNS, CNS as well as cerebrovascular system. The neurological products are the devices which are used in treatment of neurological disorders or during the neurological surgery. Various products such as, shunts, neurosurgical endoscopes, embolization products are used during neurosurgery.
MARKET SCOPE
The Global Neurosurgical Products Market Analysis to 2028 is a specialized and in-depth study of the healthcare industry with a special focus on the global market trend analysis. The report aims to provide an overview of the neurosurgical products market with detailed market segmentation by product type, condition and surgery. The report provides key statistics on the market status of the leading neurosurgical products market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on product type the market is segmented as, shunts, neurosurgical endoscopes, stereo tactic radiosurgery systems, embolization products, aneurysm and AVM clips, others.
- Based on condition the market is segmenetd as, aneurysms, pitutary and intracranial tumors, arteriovenous malformations, hydrocephalus and others.
- Based on surgery the market is segmented as, minimally invasive surgery and open surgery.
MARKET DYNAMICS
Drivers:
- Increasing prevalence of neurological disorders is the key driving factor for the market growth.
- Rising geriatric population across the globe.
- Technological advancements in neurosurgical products is expected to spur the market growth.
- Rising funding from public and government healthacare agencies for developing neurosurgical products to lower the burden of neurological disorders on healthcare systems is expected to create potential growth opportunities for the market.
Restraints:
- However, high cost of neurosurgical products and neurosurgery procedure is expected to restrain market growth during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The neurosurgical products market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the neurosurgical products market in these regions.
IMPACT OF COVID-19 ON NEUROSURGICAL PRODUCTS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. According to the current market situation, the report further assesses the present and future effects of the COVID-19 pandemic on the overall market, giving more reliable and authentic projections In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the neurosurgical products market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from neurosurgical products market are anticipated to lucrative growth opportunities in the future with the rising demand for neurosurgical products in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the neurosurgical products market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Integra LifeSciences
- KARL STORZ GmbH and Co. KG
- Medtronic
- Johnson and Johnson Services, Inc
- Stryker
- Elekta AB
- Terumo Corporation
- Penumbra, Inc
- B. Braun Melsungen AG
- Renishaw plc