Neurosurgery Surgical Power Tools Market - Forecast(2024 - 2030)
Neurosurgery Surgical Power Tools Market Overview
The Neurosurgery Surgical Power Tools Market size was estimated at
$1.18 billion in 2020, projected to grow
at a CAGR of 4.4% during the forecast period 2021-2026. Neurosurgery
is a medical procedure that specializes in the diagnosis and treatment of
neurological disorders such as Alzheimer's disease, Parkinson's disease,
stroke, aneurysms, degenerative diseases, as well as spinal cord and brain
injuries. Surgical power tools for neurosurgery aid surgeons in conducting
complex procedures with precision. Neurosurgery surgical power instruments and
accessories are used to cut, form, fixate, and dissect bone as well as
fragment, emulsify, and aspirate soft tissue in a procedures of neurosurgery.
The global neurosurgery surgical power tools market is being
driven by an increase in the occurrence of neurological disorders, and an
increase in the number of neurosurgeries performed. Moreover the increasing
acceptance of minimally invasive neurosurgeries for a variety of procedures,
including brain tumor surgeries, surgeons are further predicted to drive the
market. However, the high costs associated with neurosurgery surgical product and
the high risks associated with neurosurgery surgery could pose a threat to the
market's growth during the forecast period.
Neurosurgery Surgical Power Tools Market Report Coverage
The
report: “Neurosurgery Surgical Power
Tools Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth
analysis of the following segments of the Neurosurgery
Surgical Power Tools Market.
By Product: Drill, Reamer, Saw, Others.
By Distribution
Channel: Online Distribution Channel and Traditional
Offline Retail.
By Power
Type: Pneumatic, Electric, Battery-Powered.
By Geography: North America (U.S, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Russia and Others), Asia-Pacific (China, Japan India, South Korea, Australia
and Others), South America(Brazil, Argentina and others) and Rest of the
World (Middle East and Africa)
Key Takeaways
- Geographically, the North American region held 34.2% of the total market share in 2020 owing to the rising geriatric population, neurological disorders and increasing acceptance of minimally invasive neurosurgeries.
- Increase in the occurrence of neurological disorders, and an increase in the number of neurosurgeries major driving force for the Neurosurgery Surgical Power Tools Market during the forecast period 2021-2026.
- Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Neurosurgery Surgical Power Tools Market.
Neurosurgery Surgical Power Tools Market - By Geography, 2020 (%)
Neurosurgery Surgical Power Tools Market Segment Analysis- By Product
By Product,
the global market can be classified into Drill, Reamer, Saw and Others. Neurosurgery
Surgical drill segment account for the highest market share in 2020 owing to
its use in a growing number of minimally invasive surgical procedures. The
cranial drill, is mainly finds its application for drilling burr holes in the
skull to create wider openings during surgeries and craniotomies. Drills are
divided into many categories based on their roles and characteristics.
However, owing to the enhanced features in terms of
power torque requirements for surgical procedures, the reamers segment is
expected to rise at the fastest CAGR of 8.6% over the forecast period 2021-2026. Moreover, additional features such as magnetic coil
design, which provides high peak torque to allow surgeons to perform
complicated skull surgeries, is further predicted to rise reamers segment
market.
Neurosurgery Surgical Power Tools Market Segment Analysis - By Distribution channel
Based
on Distribution Channel, the global market is segmented
into Online Distribution Channel and Traditional Offline
Retail. Traditional offline retail
segment account for the highest market share in 2020 and is projected to grow at a CAGR of
3.7% during the forecast period 2021-2026. The dominance is due to higher owing
to benefits such as the touch-and-feel experience before purchase, moreover the
on-site guidance from a customer sales representative, and an immediate
gratification instead of waiting for the delivery of the device are the major
driving forces driving the traditional
offline retail segment.
However,
with evolving consumers and growing demand from tier I and II markets where
ecommerce penetration is increasing rapidly the online
distribution channel segment is set to grow at a faster CAGR. Along freedom
they get to look at multiple options and compare for the best price &
features, from the comfort of their home or on the go as per an individual’s
preference is further poised to increase the online sale market of Neurosurgery
Surgical Power Tools during the forecast period 2021-2026.
Neurosurgery Surgical Power Tools Market Segment Analysis - By Geography
Based on geography, North America dominated the Neurosurgery Surgical Power Tools Market with a region share of 34.2% in 2020 followed by Europe and APAC. Rising geriatric population, neurological disorders and increasing acceptance of minimally invasive neurosurgeries are the major factor propelling the growth in this region. Moreover, the presence of large number of medical device company that invest heavily on the research along with the easy availability of technologically advanced instruments is predicted to drive the market growth in this region. However, Asia Pacific is set to be the fastest growing region owing to the growing population, increased awareness about brain tumors and available treatment options, rising demand for a better healthcare structure and higher investment and funding by government in this region during the forecast period 2021-2026.
Neurosurgery Surgical Power Tools Market Drivers
Increasing Incidence of Neurological Disorders
The global
neurosurgery surgical power tools market is being driven by an increase in the
occurrence of neurological disorders, and an increase in the number of
neurosurgeries performed. According to a new United Nations Up to 1 billion
people, nearly one in six of the world’s population, suffer from neurological
disorders, from Alzheimer and Parkinson disease, strokes, multiple sclerosis
and epilepsy to migraine, brain injuries and neurological infections, with some
6.8 million dying of the maladies each year. Moreover the increasing acceptance
of minimally invasive neurosurgeries for a variety of procedures is further poised
to propel the global growth of the Neurosurgery Surgical Power Tools Market.
Neurosurgery Surgical Power Tools Market Challenge
High Cos of the Product
Despite
the increased neurological disorders and increasing acceptance of minimally
invasive neurosurgeries, some factors are preventing product acceptance. The
high costs associated with neurosurgery surgical product makes it difficult for
the middle and lower class people to afford, which is limiting the adoption procedures.
Moreover the high risks associated with neurosurgery surgery also poses a major
threat thereby, acting as major impediment for market's growth.
COVID-19
Due to the Covid-19 outbreak, the neurosurgery
surgical power tools end-use companies are facing issues such as delays in
receiving tools from the manufacturers, as the manufactures are themselves
experiencing delays in receiving raw material and owing to restriction on
import and export of commodities. In addition, the shipment orders are being
heavily affected due to the non-availability of vessels and blank sailing,
which is further which is further resulting in delayed shipments to the
customer. With the decrease in production of tools, the demand for neurosurgery surgical power tools have significantly fallen, thereby
acting as a major restrain to the market.
Neurosurgery Surgical Power Tools Market Landscape:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Neurosurgery Surgical Power Tools Market. Key companies of this market are Stryker Corporation, ADEOR MEDICAL AG, AYGUN CO., INC, B. Braun Melsungen AG, De Soutter Medical, Johnson & Johnson Services, Inc., ACRA-CUT Inc., KARL STORZ SE & Co. KG, and Medtronic plc.
Developments:
Relevant reports
Neurology
Devices Market - Forecast(2019 - 2024)
Report Code: HCR 71802
Neuroscience
Market - Forecast (2019 - 2024)
Report Code: HCR 24122
For more Lifesciences and Healthcare Market reports, please click here
LIST OF TABLES
1.Global Competition Analysis Market 2023-2030 ($M)2.Global Neurosurgery Surgical Power Tools Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
2.1 Pneumatic Neurosurgical Drills Market 2023-2030 ($M) - Global Industry Research
2.2 Electric Neurosurgical Drills Market 2023-2030 ($M) - Global Industry Research
2.3 By Product Type, Market 2023-2030 ($M) - Global Industry Research
3.Global Neurosurgery Surgical Power Tools Market Analysis and Forecast , By End User Market 2023-2030 ($M)
3.1 By End User, Market 2023-2030 ($M) - Global Industry Research
3.1.1 Hospitals Market 2023-2030 ($M)
3.1.2 Neurosurgical Centers Market 2023-2030 ($M)
3.2 By End User, Market 2023-2030 ($M) - Global Industry Research
4.Global Competition Analysis Market 2023-2030 (Volume/Units)
5.Global Neurosurgery Surgical Power Tools Market Analysis and Forecast , By Product Type Market 2023-2030 (Volume/Units)
5.1 Pneumatic Neurosurgical Drills Market 2023-2030 (Volume/Units) - Global Industry Research
5.2 Electric Neurosurgical Drills Market 2023-2030 (Volume/Units) - Global Industry Research
5.3 By Product Type, Market 2023-2030 (Volume/Units) - Global Industry Research
6.Global Neurosurgery Surgical Power Tools Market Analysis and Forecast , By End User Market 2023-2030 (Volume/Units)
6.1 By End User, Market 2023-2030 (Volume/Units) - Global Industry Research
6.1.1 Hospitals Market 2023-2030 (Volume/Units)
6.1.2 Neurosurgical Centers Market 2023-2030 (Volume/Units)
6.2 By End User, Market 2023-2030 (Volume/Units) - Global Industry Research
7.North America Competition Analysis Market 2023-2030 ($M)
8.North America Neurosurgery Surgical Power Tools Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
8.1 Pneumatic Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
8.2 Electric Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
8.3 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
9.North America Neurosurgery Surgical Power Tools Market Analysis and Forecast , By End User Market 2023-2030 ($M)
9.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Hospitals Market 2023-2030 ($M)
9.1.2 Neurosurgical Centers Market 2023-2030 ($M)
9.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
10.South America Competition Analysis Market 2023-2030 ($M)
11.South America Neurosurgery Surgical Power Tools Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
11.1 Pneumatic Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
11.2 Electric Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
11.3 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
12.South America Neurosurgery Surgical Power Tools Market Analysis and Forecast , By End User Market 2023-2030 ($M)
12.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
12.1.1 Hospitals Market 2023-2030 ($M)
12.1.2 Neurosurgical Centers Market 2023-2030 ($M)
12.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
13.Europe Competition Analysis Market 2023-2030 ($M)
14.Europe Neurosurgery Surgical Power Tools Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
14.1 Pneumatic Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
14.2 Electric Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
14.3 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
15.Europe Neurosurgery Surgical Power Tools Market Analysis and Forecast , By End User Market 2023-2030 ($M)
15.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
15.1.1 Hospitals Market 2023-2030 ($M)
15.1.2 Neurosurgical Centers Market 2023-2030 ($M)
15.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
16.APAC Competition Analysis Market 2023-2030 ($M)
17.APAC Neurosurgery Surgical Power Tools Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
17.1 Pneumatic Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
17.2 Electric Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
17.3 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
18.APAC Neurosurgery Surgical Power Tools Market Analysis and Forecast , By End User Market 2023-2030 ($M)
18.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
18.1.1 Hospitals Market 2023-2030 ($M)
18.1.2 Neurosurgical Centers Market 2023-2030 ($M)
18.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
19.MENA Competition Analysis Market 2023-2030 ($M)
20.MENA Neurosurgery Surgical Power Tools Market Analysis and Forecast , By Product Type Market 2023-2030 ($M)
20.1 Pneumatic Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
20.2 Electric Neurosurgical Drills Market 2023-2030 ($M) - Regional Industry Research
20.3 By Product Type, Market 2023-2030 ($M) - Regional Industry Research
21.MENA Neurosurgery Surgical Power Tools Market Analysis and Forecast , By End User Market 2023-2030 ($M)
21.1 By End User, Market 2023-2030 ($M) - Regional Industry Research
21.1.1 Hospitals Market 2023-2030 ($M)
21.1.2 Neurosurgical Centers Market 2023-2030 ($M)
21.2 By End User, Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)2.Canada Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
3.Mexico Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
4.Brazil Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
5.Argentina Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
6.Peru Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
7.Colombia Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
8.Chile Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
9.Rest of South America Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
10.UK Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
11.Germany Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
12.France Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
13.Italy Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
14.Spain Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
15.Rest of Europe Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
16.China Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
17.India Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
18.Japan Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
19.South Korea Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
20.South Africa Neurosurgery Surgical Power Tools Opportunity Assessment Market Revenue, 2023-2030 ($M)
21.North America Neurosurgery Surgical Power Tools Opportunity Assessment By Application
22.South America Neurosurgery Surgical Power Tools Opportunity Assessment By Application
23.Europe Neurosurgery Surgical Power Tools Opportunity Assessment By Application
24.APAC Neurosurgery Surgical Power Tools Opportunity Assessment By Application
25.MENA Neurosurgery Surgical Power Tools Opportunity Assessment By Application