Neurosurgery Market

Neurosurgery Market Outlook (2024 to 2034)

The global neurosurgery market size is estimated to be US$ 3,425.1 million in 2024. The global demand for neurosurgery is anticipated to capture a CAGR of 4.4%, forecasting US$ 5,280.8 million by 2034.

Key Market Growth Drivers

• The increasing cases of vascular malformations, epilepsy, and traumatic brain injuries are driving the focus toward surgical procedures along with modern medicine.
• The demand for neuroanatomy is set to grow significantly due to the creation of next-generation solutions that facilitate painless and more rapid recuperation for patients.
• Genetics and molecular biology combined to create personalized medicine is predicted to transform neurosurgical practice by providing tailored risk-benefit analyses, improving treatment choices, and improving healthcare delivery. However, it also presents ethical questions regarding patient consent and data privacy.

The neurosurgery industry is experiencing growth due to an increase in neurological patients and technological advancements in traditional surgical instruments, offering significant growth prospects for global neurological device market players.

Report Attributes	Details
Estimated Market Value (2024E)	US$ 3,425.1 million
Forecasted Market Value (2034F)	US$ 5,280.8 million
Global Market Growth Rate (2024 to 2034)	4.4% CAGR
Neuro Interventional Devices Segment Growth Rate (2024 to 2034)	5.3%
Hospital Segment Growth Rate (2024 to 2034)	4.2%
North America Market Share (2024)	56.2%
Western Europe Market Share (2024)	29.8%
Key Companies Profiled	Richard Wolf Zeppelin Medical Instruments OLYMPUS Schoelly Fiberoptic Braun SE Ackermann Leica Zeiss Moller-wedel Stryker DePuy Synthes (J&J) Abbott Medtronic Boston Scientific Corporation Penumbra Terumo Merit Medical W. L. Gore & Associates Medikit Elekta Philips Healthcare Siemens Healthcare GE Healthcare Toshiba Medical Shimadzu Medical Device Business Services, Inc.

Which Factors Have Driven the Global Surge in the Neurosurgery Industry?

“Technological Advancement in Neuroscience Boosts Demand for Neurosurgery”

Technological innovations like robots and minimally invasive surgeries are the market's priority. Additionally, it is anticipated that the creation of next-generation devices help patients receive treatment more quickly and easily, greatly influencing neuroanatomy market revenue growth.

Conducting further research and development in neuroscience to meet the current demands of neurosurgery represents a substantial business potential. Leading manufacturers of neurosurgical equipment have brought a broad range of devices to the market with regulatory approval in key geographic areas. These gadgets are anticipated to propel market revenue growth during the projection period. The neurosurgical industry is focused on strategic advancements, with leading players investing extensively in research and development to provide advanced systems for developing countries, resulting in rising market revenue.

“Growing Personalized Medicine Demand Pushes the Neurosurgery Market”

Personalized medicine, which attempts to match medical treatments to an individual's genetic composition and needs, is an emerging paradigm in neurosurgery. Nonetheless, moral issues like obtaining a patient's consent for genetic testing need to be addressed. Doctors can uncover the fundamental causes of neurological diseases and brain tumors by evaluating a patient's genetic material, allowing for the formulation of individualized treatment strategies.

Patients can use a customized risk-benefit analysis provided by personalized medicine to make well-informed decisions regarding their course of care. Based on their health situation and genetic composition, this technique assists patients in weighing possible advantages and challenges.

Personalized medicine is poised to revolutionize neurosurgical practice, enhancing the diagnosis and treatment of neurological disorders and brain tumors, leading to improved patient outcomes and more efficient healthcare delivery.

Which Factors Present Challenges to the Neurosurgery Market Growth?

“High Surgery Expenditure Limits the Demand for the Neurosurgery”

The neurosurgery market faces various challenges, such as the high cost of procedures, limited access to specialized care in certain regions, and the need for ongoing advancements in surgical techniques and technology.

Hospitals and other end-user facilities are being negatively impacted by the sharp increase in the cost of neurosurgery supplies. Complex operations, including neurovascular embolization devices, coiling devices, and neuro endoscopes, involve a lot of time, effort, and danger because of the advanced techniques used.

Power supply needs also impact the cost of these services for providers. In addition to these difficulties, legislative barriers and data security issues about telemedicine and patient records must also be considered. Thus, maintaining patient safety, cost, and accessibility while encouraging innovation remains a top priority for the neurosurgical industry.

Country-wise Insights

The neurosurgery industry in North America is expected to grow at 3.7% through 2034. With a 98.8% market share in 2024, the United States is expected to lead the North American neurosurgery market.

Likewise, the neurosurgical sector in Western Europe is expected to increase at a phenomenal annual rate of 3.8% by 2034. Neurosurgery is expected to represent 34.7% of the German industry in 2024.

Why is the United States Leading the Global Neurosurgery Market?

“Novel Innovations Fulfils the Neurosurgical Demand in the United States”

According to Fact.MR., the demand for neurosurgery in the United States is estimated to rise and reach US$ 1,902 million in 2024. The United States is expected to maintain its dominant 98.8% share of the North American neuroscience market in 2024. This market has grown significantly in recent years. The projected growth rate between 2024 and 2034 is 4.4% CAGR.

Manufacturers concentrate on developing technologies to help neurological patients because of the strong demand for neurological products. Prominent producers of neurosurgical instruments are focused on research and development initiatives to provide innovative items for the treatment of neurological disorders.

Anuncia Medical, for instance, introduced a second-generation device in July 2023 to treat hydrocephalus at several top neurosurgery hospitals in the United States. Providing improved access to potentially life-saving therapy for the 30 million individuals with hydrocephalus has given neurosurgeons both domestically and internationally a new approach to lessen the impacts of this neurological condition.

Additionally, companies pay attention to product approvals by the Food and Drug Administration. Considering these advancements, the demand for neurosurgery has grown in the United States, increasing the significance of the neurosurgery market.

Which Factors Position Germany as a Prospering Neurosurgery Industry?

“Neurostimulation and Neuromodulation Studies Accelerate the Germany Neurosurgery Market Growth”

Germany's neurosurgery industry is predicted to grow significantly, reaching a valuation of US$ 355 million in 2024. Furthermore, a 3.6% CAGR is anticipated during the forecast period. By 2034, this projected increase translate into a market value of US$ 505 million.

The study of neurostimulation and neuromodulation has made it possible to treat a wider range of illnesses, including epilepsy, Parkinson's disease, and chronic pain. Two techniques that have grown in popularity are deep brain stimulation and spinal cord stimulation.

These discoveries have led to an increase in the need for neurosurgery in Germany. Germany's healthcare industry has aggressively pursued the development of innovative methods to improve neurostimulation and neuromodulation technology. Giving patients with neurological illnesses more specialized and efficient therapies may enhance their quality of life.

Category-wise Insights

Given its product type, as per the estimates, the neuro interventional devices sector retain a 61.0% market share in 2024. Concurrently, the radiosurgery systems sector is estimated to attain 16.0% of the share, so considerably augmenting the resource variety and stability of the industry.

Hospitals are likely to have a substantial 52.2% share in the neurosurgery market based on end users in 2024. The market value for specialized neurological institutes is anticipated to reach 27.6% in 2024.

Why is the Neurosurgery Industry's Amplified Demand for Neuro Interventional Devices?

“Neuro Interventional Devices Boost the Demand for the Neurosurgery Globally”

The neuro interventional devices are anticipated to account for 61.0% of the market in 2024. Over the next ten years, the category of neuro interventional equipment is expected to grow at a 5.3% annual pace. In 2024, the market for neuro interventional gadgets is estimated to be worth US$ 2,090.5 million.

Minimally invasive neurosurgery procedures are becoming increasingly popular because they provide better patient outcomes, fewer post-operative problems, and shorter recovery periods. Robotic-assisted surgery and endoscopes are frequently used in these procedures.

The use of neuro-interventional devices has significantly increased in recent years as more neurological illnesses are treated.

Numerous neuro-interventional devices are available for purchase, including intracranial stents, microcatheters, neurovascular thrombectomy devices, neurovascular embolization devices, and others. Patients and neurosurgeons alike have embraced minimally invasive instruments and methods. This is explained by the fact that less invasive techniques result in faster recovery and reduced affliction.

Competitive Landscape

Key players in the neurosurgery market include Richard Wolf, Zeppelin Medical Instruments, OLYMPUS, Schoelly Fiberoptic, Braun SE, Ackermann, Leica, Zeiss, Moller-wedel, Stryker, DePuy Synthes (J&J), Abbott, Medtronic, Boston Scientific Corporation, Penumbra, Terumo, Merit Medical, W. L. Gore & Associates, Medikit, Elekta, Philips Healthcare, Siemens Healthcare, GE Healthcare, Toshiba Medical, Shimadzu, and Medical Device Business Services, Inc.

The global neurosurgery sector is rapidly expanding and highly competitive, with numerous players fighting for market dominance and a stable basis. Several factors, including pricing strategies, marketing campaigns, research and development, and the development of novel products, primarily drive the rivalry.

Given the significant fragmentation of the neuroscience industry and the fight for market share among competitors, there is a higher emphasis on strategic decision-making and competitive pressures. Market players in the neurosurgery sector are aggressively investing in research and development to generate new, more effective neurosurgical techniques to stay ahead of the competition.

Partnerships, collaborations, and other strategic alliances are also being developed to increase operational effectiveness and expand the neurosurgery market reach. Companies also use product releases and other marketing campaigns to expand the market for neuroscience and obtain a competitive advantage.

Recent Development

• In December 2023, NeuroOne Medical Technologies developed the OneRF Ablation System, a thin-film, sEEG-guided radiofrequency (RF) system that can create RF lesions in nervous tissue for functional neurosurgical procedures, offering temperature control and recording electrical activity.
• In November 2023, AIIMS New Delhi and IIT Delhi showcased a standalone Deep Learning system in neurosurgery at the 16th IITD Open House program. The system aims to train and evaluate neurosurgeons on microscopic techniques like micro-suturing, micro-drilling, and endoscopic skills.

Segmentation of Neurosurgery market

• By Product type:

  • Neuro Interventional Devices
  • Neuroendoscopes
  • Neurosurgical Drills
  • Radiosurgery Systems
  • Dura Substitutes
  • Neurosurgical Ablation Devices
  • Neurosurgery Instruments

• By End User:

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialized Neurological Institutes

• By Region:

  • North America
  • Europe
  • Western Europe
  • Western Europe
  • South Asia & Oceania
  • The Middle East & Africa