Global Neurosurgery Market 2016-2020

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