Status : Published Published On : Oct, 2021 Report Code : VRHC1202 Industry : Healthcare Available Format : Page : 220

Global Minimally Invasive Neurosurgical Systems Market – Analysis and Forecast (2021-2027)

Industry Insight by Product Type (Neuro Microscope, Neuronavigation (Optical Neuronavigation Systems and Electromagnetic Neuronavigation Systems), Neuroendoscopy(Rigid Neuroendoscopy Systems and Flexible Neuroendoscopy Systems), and Neurosurgical Robots(Systems (Capital Equipment), Instruments and Accessories, and Services)), by Surgery Type (intracranial surgery, endonasal neurosurgery, and spinal surgery), and Geography (U.S., Canada, Germany, U.K., France, China, Japan, India, and Rest of the World)

Industry Overview

The global minimally invasive neurosurgical systems market was valued at USD 423.7 million in 2020 and is anticipated to reach $1,195.4 million by 2027, registering a CAGR of 11.5% during the forecast period 2021-2027. Minimally invasive neurosurgical systems will allow neurosurgery with a small incision on the skull. They enable to maximize visualization of cranial tissue and reduce postoperative complications during surgical procedures. Technological development in neurosurgical systems and instruments has led to innovations in the healthcare sector globally. The rising prevalence of neuro-disorders, advantages offered by minimally invasive neurosurgery, mounting R&D investment, technological development in MIS and robotics-based surgeries will accelerate the growth of the minimally invasive neurosurgical systems market. The development of a digital camera will aid in the visualization of the operating field and requires small surgical instruments that pass-through endoscopes, resulting in less trauma to the patient owing to small incisions on the skull. Therefore, there is a preference for minimally invasive neurosurgeries that will drive growth globally.

Minimally Invasive Neurosurgical Systems Market Highlights

COVID-19 pandemic had significantly impacted the Minimally Invasive Neurosurgery Device Market. Owing to a pandemic, healthcare equipment is preserved for patients infected with the coronavirus that increases delays in neurosurgeries owing to the high risk of getting infected, and are negatively affected the growth of this market.

Market Segmentation

Insight by Product Type

Based on product type, the global minimally invasive neurosurgical systems market is divided into neuro microscope, neuronavigation, neuroendoscopy, and neurosurgical robots. The neuronavigation segment is further sub-divided into optical neuronavigation systems and electromagnetic neuronavigation systems. The neuroendoscopy is further sub-divided into rigid neuroendoscopy systems and flexible neuroendoscopy systems. The neurosurgical robots are further sub-divided into systems (capital equipment), instruments and accessories, and services. Neurosurgical robots are anticipated to grow significantly as it offers connected interface, motion scaling, and tremor filtration. Moreover, the rising requirement for using multiple surgical devices through multiple access ports of endoscopes will fuel the growth of minimally invasive neurosurgeries.

Insight by Surgery Type

Based on surgery type, the global minimally invasive neurosurgical systems market is segmented into intracranial surgery, endonasal neurosurgery, and spinal surgery. Intracranial surgery accounts for the highest market share in 2020 owing to the rising number of surgeries of brain and increasing cases of brain disease. Endonasal surgery is anticipated to have the fastest CAGR owing to the rapid recovery time and decreased risk of neurological damage.

Industry Dynamics

Industry Trends

One of the important trends existing in the minimally invasive neurosurgical robotics market is the rapid recovery of the patient and enhances its postoperative quality of life and there is a lot of investment in the healthcare industry, resulting in the growth of the global minimally invasive neurosurgical robotics market.

Growth Drivers

The growing geriatric population, advantages offered by minimally invasive neurosurgical procedures over conventional open surgical procedures, technological development such as the development of endoscope design that is compact efficient, provides enhanced resolution and better illumination, availability of developed products in the field of neurosurgical procedures are the factors contributing to the growth of the minimally invasive neurosurgical systems market. Moreover, rising cases of neurological disorders, shifting towards a patient-centric model will accelerate the growth in the market. According to the National Institute of Health, approximately 276 million people were suffering from neurological disorders in 2016 which lead to the rising use of fluoroscopy and will accelerate the growth of the minimally invasive neurosurgery system market during the forecast period 2021-2027.

Challenges

The high installation and maintenance cost of neurosurgical robotic systems, lack of trained professionals, restrictive reimbursement framework are the challenges faced by the minimally invasive neurosurgery system market during the forecast period 2021-2027.

Opportunities

The advancement of long-distance teleoperated surgical robots and the advancement of AR in the operating field are the opportunities leading to the growth of the minimally invasive neurosurgery system market during the forecast period 2021-2027.

Geographic Overview

North America dominates the global minimally invasive neurosurgery system market during the forecast period 2021-2027 owing to the rising cases of surgical procedures, and fast technology development in healthcare. Furthermore, the rising adrenalectomy surgery for patients with tumors will accelerate the need for a minimally invasive neurosurgery system market in the region.

Competitive Insight

The industry players are focusing on product launch, M&A, partnerships, and expansion activities to gain a competitive edge in the minimally invasive neurosurgery system market during the forecast period 2021-2027.

Olympus Corporation has launched EVIS X1, an advanced endoscopy system that helps in improving the outcomes from endoscopic disorders.

Karl Storz GmbH & Co. KG has installed six examination rooms specialized for ENT treatment that increases the demand of minimally invasive procedures.

Some of the key players operating in the minimally invasive neurosurgery system market: Olympus Corporation, B. Braun Melsungen AG, Karl Storz SE & Co. KG, Brainlab AG, Carl Zeiss Meditec AG, Medtronic, Microbat Medical Inc., Stryker, Zimmer Biomet, and Synaptive Medical.

Minimally Invasive Neurosurgical Systems Market Size and Market Analysis

Source: VynZ Research

Frequently Asked Questions

The global minimally invasive neurosurgical systems market is anticipated to reach $1,195.4 million by 2027, registering a CAGR of 11.5% during the forecast period 2021-2027.
The global minimally invasive neurosurgical systems market is divided into neuro microscope, neuronavigation, neuroendoscopy, and neurosurgical robots.
The long-distance teleoperated surgical robots and developemnt in AR are the opportunities leading to the growth of the minimally invasive neurosurgery system market during the forecast period 2021-2027.
North America dominates the global minimally invasive neurosurgery system market during the forecast period 2021-2027.
Some of the key players operating in the minimally invasive neurosurgery system market: Olympus Corporation, B. Braun Melsungen AG, Karl Storz SE & Co. KG, Brainlab AG, Carl Zeiss Meditec AG, Medtronic, Microbat Medical Inc., Stryker, Zimmer Biomet, and Synaptive Medical.

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Research Methodology

  •  Desk Research / Pilot Interviews
  •  Build Market Size Model
  •  Research and Analysis
  •  Final Deliverabvle
Minimally Invasive Neurosurgical Systems Market