Published on: May 2022
An overview of the Minimally Invasive Neurosurgical System industry
The market for minimally invasive neurosurgery devices is expected to reach $32,700 million by 2026, with a CAGR of 8.5 percent from 2021 to 2026. Invasiveness is kept to a bare minimum. Neurosurgery is a procedure that is used to treat disorders that affect the spinal cord, brain, or skull base. Endoscopes are a type of neurosurgery instrument used for vision into the human brain or spinal cord. They assist the surgeon in therapy by magnifying essential anatomical structures. Adrenalectomy is a minimally invasive surgery that removes the adrenal gland through small incisions in the abdomen. Fluoroscopy aids in providing a clear picture of imaging that creates real-time moving X-ray images during minimally invasive neurosurgery. The primary factors driving the growth of this market are the rising frequency of neurological illnesses and technological advancement. Furthermore, for the period 2021-2026, the growing geriatric population is expected to boost total market demand for Minimally Invasive Neurosurgery Devices.
Product Segment Analysis for Minimally Invasive Neurosurgery Devices
Fibre Optics Cables, Miniature Video Cameras, Special Surgical Instruments, and External Video Monitors are the product segments that make up the global Minimally Invasive Neurosurgery Device Market. In 2020, the key segment that generated the most income is Fibre Optics Cables. Its tiny size, immunity to electromagnetic interference (EMI), increased sensitivity, resilience, and geometrical plasticity all contribute to this. For the period 2021-2026, the Miniature Video Cameras segment is expected to grow at the fastest rate of 1.9 percent. Miniature Video Cameras are endoscopic devices that let surgeons magnify essential anatomical structures and aid in therapy. They are growing in popularity.
Device Segment Analysis in Minimally Invasive Neurosurgery
By Surgery Type
The global Minimally Invasive Neurosurgery Device Market may be split into Intracranial Surgery, Endonasal Neurosurgery, and Spinal Surgery based on Surgery Type. In 2020, the Intracranial Surgery segment will have the biggest market share for Minimally Invasive Neurosurgery Devices. This is mostly due to an increase in the number of brain procedures and the prevalence of brain disorders. According to the National Cancer Institute, about 23,890 adults will be diagnosed with a brain tumour in 2020, increasing demand for intracranial surgery and driving market growth. Over the period 2021-2026, the Endonasal Neurosurgery segment is expected to grow at the fastest rate of 2.4 percent. This is attributable to the short recovery time and lower risk of neurological impairment, which are fueling the expansion of the industry.
Device Segmentation in Minimally Invasive Neurosurgery - By Geography
In 2020, North America dominated the Minimally Invasive Neurosurgery Device Market, with a 40% share. This is due to an increase in the number of surgical procedures and significant technological advancements in the healthcare industry. Furthermore, as the number of patients undergoing adrenalectomy surgery for tumours rises, so does the demand for Minimally Invasive Neurosurgery Devices. However, due to rising disposable income and increased government measures aimed at improving the healthcare sector, Asia Pacific is expected to outperform all other areas, with a CAGR of 4.25 percent from 2021 to 2026.
Market Drivers for Minimally Invasive Neurosurgery Devices
The Minimally Invasive Neurosurgery Device Market is expected to develop as the incidence of neurological illnesses rises. According to the National Institute of Health, over 276 million people suffered from neurological illnesses in 2016, boosting the utilisation of fluoroscopy and driving the Minimally Invasive Neurosurgery Device Market growth between 2021 and 2026.
Increasing Technological Progress in Minimally Invasive Neurosurgical System
The Minimally Invasive Neurosurgery Device Market is expected to increase as technical advancements in minimally invasive surgical procedures continue. Furthermore, recent advancements in endoscope design have resulted in endoscopes that are more compact, efficient, and have superior resolution and illumination, boosting the growth of the Minimally Invasive Neurosurgery Device Market from 2021 to 2026.
Impact of COVID-19 on the Minimally Invasive Neurosurgery Device Market
The COVID-19 pandemic had a significant impact on the Minimally Invasive Neurosurgery Device Market. As a result of the pandemic, healthcare equipment is being maintained for patients afflicted with the coronavirus, which is causing delays in neurosurgeries due to the high risk of infection, and has harmed the market's growth.
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