Description:
Statistics: As per 2019 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, and 5% by the middle east respectively.
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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By 2027, global neurosurgical products market is to account for US$ 13,203.7 Mn.
Non-FictionAs per a global neurosurgical products market research report by Coherent Market Insights, neurosurgical products market to reach with a value projection of US$ 13,203.7 Mn till year 2027 for the global market.
