MI Neurosurgery Devices Market Size, Share, Growth, and Industry Analysis, By Type (Miniature Video Cameras, Special Surgical Instruments, External Video Monitors), By Application (Intracranial Surgery, Endonasal Neurosurgery, Spinal Surgery, Other), and Regional Forecast to 2031

Updated On: 08 April 2024

Report Overview

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The global MI neurosurgery devices market size was valued at USD 190 million in 2020. As per our research, the market is projected to reach USD 280.62 million by the end of 2031, exhibiting a CAGR of 3.6% between 2021 and 2027. The COVID-19 pandemic has been unprecedented and staggering, with the MI neurosurgery devices market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

Minimally Invasive (MI) neurosurgery devices encompass a range of cutting-edge tools and technologies designed to enable neurosurgeons to perform complex procedures with precision while minimizing the invasiveness of the surgical process. These devices include miniature video cameras, special surgical instruments, and external video monitors, all of which contribute to improved patient outcomes by reducing recovery times and post-operative discomfort.

The MI neurosurgery devices market growth can be attributed to two primary factors. First, the increasing prevalence of neurological disorders, such as stroke, brain tumors, and spinal cord injuries, is driving the need for advanced and less invasive treatment options. These conditions are becoming more common, particularly among the aging population, and these neurosurgery devices are a critical component of the medical arsenal used to address these challenges. Second, there is a rising adoption of minimally invasive surgery (MIS) techniques within the field of neurosurgery. MIS procedures offer patients numerous benefits, including shorter recovery times, reduced pain, and improved post-operative quality of life. This shift towards less invasive procedures necessitates the use of these neurosurgery devices to facilitate these intricate surgeries.

COVID-19 Impact: Demand Declined Due to Temporary Postponement of Elective Surgeries

The demand for MI neurosurgery devices experienced a noticeable decline during the COVID-19 pandemic, primarily attributed to a confluence of factors. One of the significant contributors to this decline was the postponement of elective surgeries. Hospitals, in an effort to conserve resources for COVID-19 patients and minimize the risk of infection, opted to delay non-essential procedures, including neurosurgeries. As a result, the demand for these neurosurgery devices waned as these procedures were put on hold.

Furthermore, the fear of contracting COVID-19 played a substantial role in reducing the demand. Patients, apprehensive about the risk of exposure to the virus in healthcare settings, were reluctant to undergo elective neurosurgery during the pandemic. This hesitancy was a natural response to the uncertainties surrounding the transmission of the virus, ultimately leading to a decline in the number of neurosurgery cases and, consequently, the utilization of these neurosurgery devices.

Economic uncertainties stemming from the pandemic also contributed to the decline in demand. With widespread economic disruptions and job losses, some patients faced financial challenges, which led to the postponement or cancellation of elective surgeries, including neurosurgeries. This economic uncertainty served as an additional hurdle, impacting the overall demand for this market. The most pronounced decline in demand was observed in the early months of the pandemic.

Latest Trends

"Advent of Robotic-Assisted Microscopes to Improve Efficiency in Neurosurgery Procedures"

A range of new and innovative MI neurosurgery devices is continually being developed and introduced to the market, enhancing the capabilities of neurosurgeons. One notable innovation is the advent of robotic-assisted microscopes, designed to provide surgeons with a magnified and high-resolution view of the surgical site. In neurosurgery, where procedures often involve delicate and intricate structures, these robotic-assisted microscopes are invaluable. For instance, the NeuroArm robotic microscope system from Zeiss offers real-time feedback on surgical movements, allowing for enhanced precision and accuracy in neurosurgical procedures, ultimately resulting in improved patient outcomes.

Another groundbreaking development is the use of intraoperative imaging systems, which offer surgeons real-time images of the surgical site. Neurosurgery procedures can be complex and challenging to visualize, making intraoperative imaging systems particularly valuable. The O-arm surgical imaging system from Medtronic, tailored for neurosurgery, provides surgeons with real-time 3D images, aiding them in navigation during surgery and early detection of potential complications. This, in turn, leads to enhanced patient outcomes and reduced recovery times.

Disposable MI neurosurgery devices are also gaining traction in the market due to their ability to mitigate infection risks and their convenience. These devices eliminate the need for reprocessing and reusing, reducing the chances of contamination. For example, the Nicolette Vascular Access Device from ConMed is a disposable tool for accessing the cerebrovascular system. It simplifies various neurosurgery procedures, including aneurysm clipping and bypass grafting, offering ease of use without the need for elaborate cleaning or sterilization procedures.

Segmentation

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•  By Type Analysis

The market can be segmented into three primary categories that are miniature video cameras, special surgical instruments, and external video monitors.

• By Application Analysis

The market is divided into several application segments, including intracranial surgery, endonasal neurosurgery, spinal surgery, and other specialized neurosurgical procedures.

Driving Factors

"Increasing Prevalence of Neurological Disorders to Foster Market Growth"

The growing incidence of neurological disorders, such as stroke, brain tumors, and spinal cord injuries, has led to an increasing demand for minimally invasive (MI) neurosurgery devices. These disorders are becoming more prevalent, particularly among the aging population, driving the need for advanced and minimally invasive treatment options. MI neurosurgery devices enable neurosurgeons to perform intricate procedures with precision, ultimately improving patient outcomes.

"Growing Adoption of Minimally Invasive Surgery to Market Demand"

The adoption of minimally invasive surgery (MIS) techniques in neurosurgery is on the rise. MIS offers significant benefits to patients, including shorter recovery times and reduced post-operative pain. This trend toward less invasive procedures necessitates the use of MI neurosurgery devices, which are essential for performing complex surgeries with minimal invasiveness.

Restraining Factors

"Safety and Efficacy Concerns to Hinder the Market Demand"

Concerns regarding the safety and efficacy of these neurosurgery devices, particularly newer and less extensively utilized ones, can be a significant obstacle to their adoption. Given the intricacy of these devices and their application in treating critical brain and spinal structures, patients and healthcare providers may understandably worry about potential complications, including device failure, and the absence of long-term safety and efficacy data. Cost considerations and limited device accessibility in certain regions further compound these concerns, potentially hindering the broader implementation of MI neurosurgery devices.

Regional Insights

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North America to Lead the Market Due to Region’s Proactive Approach in Adopting Advanced Medical Technologies

North America is a dominant player in the MI neurosurgery devices market share. The region exhibits a strong presence of key industry players and a well-established healthcare infrastructure. Additionally, North America has a high prevalence of neurological disorders, contributing to the significant demand for these neurosurgery devices. The region's proactive approach to adopting advanced medical technologies further solidifies its leadership position in the market.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Medtronic (Ireland)
• Stryker Corporation (U.S.)
• Olympus Corporation (Japan)
• Boston Scientific (U.S.)
• B. Braun (Germany)
• Carl Storz (Germany)
• Smith & Nephew (U.K.)
• Conmed Corporation (U.S.)
• Zimmer Holdings (U.S.)
• Richard Wolf (Germany)
• NICO (U.S.)
• Achkermann (Switzerland)
• Integra LifeScience (U.S.)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.