Overview of the global neurosurgery market

Technavio’s market research analyst predicts the global neurosurgery market to grow at a CAGR of more than 9% during the forecast period. The rising instances of neurosurgical disorders such as subarachnoid hemorrhage, meningitis, intracerebral hemorrhage (ICH), and traumatic brain injury (TBI) are boosting the adoption of neurosurgery devices. The introduction of flow diversion devices, stents, liquid embolic, and clot retrieval devices is replacing conventional treatment alternatives such as pharmacological therapy and surgical clipping. At present, surgeons are using neuroendovascular coils and other non-coil devices, which offers long-term treatment compared with drug therapies. Such developments have prompted vendors to focus on getting adequate clinical data and findings on safety and efficacy of coils, flow diversion devices, neurostimulation devices, and advanced surgical navigation systems, which will subsequently increase the implementation rates in the coming years. The growing recognition and implementation of such new devices with superior features will enhance the growth prospects for the neurosurgery market in the coming years.

Several vendors in the market are focusing on integrating neuroprosthetic technologies with electrical neuromodulation and pharmacological therapies for the brain, brainstem, and spinal cord. The pharmacological components used in this hybrid neuroprosthetic device include a catheter implanted in the brain tissue and a subcutaneously placed drug reservoir, which can be regularly refilled. This combination of two technologies can result in the efficient and effective treatment of the diseases. The growing adoption of neurostimulation devices for the treatment of neurological disorders, especially among the older population, is expected to fuel the growth of the market.

Competitive landscape and key vendors

The growing awareness about the neurology devices among people with several successful procedures has prompted individuals to undergo neurosurgeries. Advancements in technology and new product launches have intensified the competitive scenario in the market.  Vendors are collaborating to form strategic alliances with specialized companies manufacturing neurosurgical devices to extend their product portfolio and widen their customer base. Also, manufacturers are developing support devices to minimize the complications of flow diversions.

Leading vendors in the market are -

• DePuy Synthes
• Integra LifeSciences
• Medtronic
• Stryker

Other prominent vendors in the neurosurgery market include Abbott Laboratories, ABIOMED, Acandis, AdvanSource Biomaterials, Allium Medical, AngioDynamics, Angioslide, Atrium Medical, B. Braun Melsungen, Balt Extrusion, Biophan Technologies, Biosense Webster, BIOTRONIK, Boston Scientific, Brainlab, Cardiac Science, CardiacAssist (TandemLife), Cardica, Claret Medical, Contego Medical, Cook Group, CryoLife, Cyberonics, Elekta, Gore Medical, Innovative Cardiovascular Solutions, InspireMD, KARL STORZ, Keystone Heart, Micromar, MicroVention, Neuros Medical, NeuroVista, Nobilis Health, PHENOX, Scopis, SPR Therapeutics, St. Jude Medical, Synapse Biomedical, Terumo, and Transverse Medical.

Segmentation by product type and analysis of the neurosurgery market

• Neurostimulation devices
• Neurointerventional devices
• CSF management devices
• Neurosurgical navigation systems

Neurostimulation devices occupy the largest portion of the market and will continue its dominance throughout the forecast period. The segment includes implantable devices that deliver electrical stimulation to the brain and nervous system to cure neurological disorders such as pain, PD, epilepsy, depression, dystonia, obsessive-compulsive disorder, and tremors. Neurostimulation devices, such as SCS, DBS, SNS, VNS, and GES, are powered by batteries that are replaced every 3-5 years. Vendors are investing in the development of new devices and research for the application of innovative products for other disease treatments. For instance, Cyberonics applied for CE mark approval of the VNS system to treat chronic heart failure.

Geographical segmentation and analysis of the neurosurgery market

• Americas
• APAC
• EMEA

The Americas was the largest revenue contributor to the global neurosurgery market and accounted for the highest market shares in 2015. The region is witnessing rising incidences of cerebral disorders such as stenosis, malformation, and brain aneurysm, which are fuelling growth prospects for the market in the Americas. The adoption rate of neurosurgery is also very high in the region due to the prevalence of MI procedures. Technological developments coupled with the rising incidences of cerebral aneurysm are anticipated to drive the market over the forecast period.

 Key questions answered in the report include

• What will the neurosurgery market size and the growth rate be in 2020?
• What are the key factors driving the global neurosurgery market?
• What are the key neurosurgery market trends impacting the growth?
• What are the challenges to market growth?
• Who are the key vendors in the global neurosurgery market?
• What are the market opportunities and threats faced by the vendors in the global neurosurgery market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global neurosurgery market?