Impact of COVID-19 on Global Minimally Invasive Neurosurgery Devices Market
Minimally Invasive Neurosurgery is performed to treat disease occurring in various parts of brain, spinal cord or skull base through a small opening. Diseased area may require repair, removal and in the worst cases replacement which is being done through neurosurgery. Neurosurgical device used for the visualization purpose inside the human brain or spinal cord is known as “Endoscope” which is kind of a small microscope inserted through minimal invasion. Endoscope helps in magnifying critical anatomical structure and assist the surgeon in the treatment. Endoscopic neurosurgery requires minimal incision thus it is also known as “Minimally Invasive Neurosurgery”. Minimally Invasive Neurosurgery avoids complication post-surgery, leads to faster recovery, minimal scarring/pain and high accuracy. Recent advancement in endoscope design produced endoscopes that are compact, more efficient with improved resolution and better illumination than the earlier devices.
Minimally Invasive Neurosurgery Devices Market: Drivers & Restraints
Minimally Invasive Neurosurgery Devices market is probably the last speciality to move to minimally invasive because of the complexity involved in the surgery however due to continuous advancement in medical technology for the treatment of neurological disorders have raised the demand of Minimally Invasive Neurosurgery Devices. Rise in the ageing population leading to increase in the incidence of neurological disorders are some major factors driving the growth of Minimally Invasive Neurosurgery Devices market. More awareness amongst the surgeons is helping the market to dwell in developed countries however the market of developed countries are more or less saturated and have a limited growth opportunity as compared to developing countries especially Asia Pacific countries where due to large population the market growth can be significant in the upcoming years. Lack of skilled professionals in the developing countries and poor or unstable reimbursement regulations are hampering the growth of Minimally Invasive Neurosurgery Devices in developing countries.
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Impact of COVID-19 on Global Minimally Invasive Neurosurgery Devices Market
The COVID-19 pandemic is having modest impact on minimally invasive neurosurgery devices. Healthcare equipment are preserved for patients infected with the coronavirus. Neurosurgeons are kept away from frontline operations. The American College of Surgeons has issued a notice to neurosurgeons to keep down, stop or delay facultative scheduled operations.
Driven by high risk of getting infected during in-house surgeries, neurosurgeons have postponed all surgeries except emergency cases. According to NCBI, 52% elective surgeries have been cancelled by respective clinics and hospitals. Furthermore, neurosurgical procedures dropped to 55% in highly affected countries.
Minimally Invasive Neurosurgery Devices Market: Segmentation
Minimally Invasive Neurosurgery Devices market is classified on the basis of product type, surgery type and geography.
Based on product type, the global Minimally Invasive Neurosurgery Devices market is segmented into the following:
- Fiber optic cables
- Miniature video cameras (Endoscopes)
- Special surgical instruments
- External video monitors
Based on surgery type, the global Minimally Invasive Neurosurgery Devices market is segmented into the following:
- Intracranial Surgery
- Endonasal Neurosurgery
- Spinal Surgery
Minimally Invasive Neurosurgery Devices Market: Overview
Minimally Invasive Neurosurgery Devices is a growing market due to various benefits offered like less recovery time, shortened hospital stay, greater accuracy, less pain and muscle sparring which is making minimally invasive neurosurgery a preferred option for the medical practitioners and surgeons. Proliferation of joint ventures and cross utilization of technology in minimally invasive surgical devices market is a plus for different market players as they don’t have to invest much on the research and development of different types of products. Introduction of robotic devices to perform the surgery is an alternative for better outcomes and increased accuracy.
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Minimally Invasive Neurosurgery Devices Market: Region-wise Outlook
Depending on geographic regions, global Minimally Invasive Neurosurgery Devices market is segmented into seven key regions: North America, South America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa. North America is the leading region in Minimally Invasive Neurosurgery Devices market due to the high volumes of surgical procedures being performed. Also, the availability of established healthcare infrastructure, high contribution of healthcare to economy, patient compliance are the reasons for the high demand in North America. Europe has the second largest Minimally Invasive Neurosurgery Devices market due to vast technological advancement in terms of healthcare sector. Asia Pacific market is expected to grow at a good rate as compared to NA and Europe as there is ample market opportunity in countries like India and China.
Minimally Invasive Neurosurgery Devices Market: Key Players
Some of the key market players in global Minimally Invasive Neurosurgery Devices market are Karl Storz GmbH & Co. KG, Olympus Corporation, Conmed Corporation, Richard Wolf GmbH, Boston Scientific Inc., Integra LifeSciences Holdings Corporation, Aesculap Division, Smith & Nephew Plc, Medtronic and NICO Corp. to name a few.
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