Neurosurgery Surgical Power Tools Market Analysis May Set New Growth Story, Forecast to 2028
Technological advancements in electrical neurosurgical drills power tools over the years have resulted in reduced post-operative pain and discomforts, which is expected to contribute to the growth of the global Neurosurgery Surgical Power Tools. Technological advancements, coupled with increasing number of skull-based surgeries and craniotomy procedures are projected to increase the adoption of Neurosurgery Surgical Power Tools globally.
According to the latest research by the company, the global Neurosurgery Surgical Power Tools market is expected to account for over US$ 123.2 Mn, in terms of value, by 2028 end. The report further projects a steady growth rate for the neurosurgery surgical power tools market through 2028. The neurosurgery surgical power tools efficiently reduce the number of activities during a surgery due to their light weight and adjustable speed. They reach the smallest regions of the brain and skull.
Increasing prevalence of neurological disorders-brain injuries and cerebral disorders-presence of large patient pool, and advent of new neurosurgery surgical power tools are factors expected to drive the growth of the neurosurgery surgical power tools market during the forecast period.
The companies operating in the market are adopting strategic approaches in order to increase their product reach in the global neurosurgery surgical power tools market. The need to make improvements in the surgeries to avoid mishaps, reduce post-operative pain and trauma is the prime factor expected to increase the adoption of neurosurgery surgical power tools.
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Increasing product approvals of neurosurgery surgical power tools and number of neurosurgeons opting for modern devices are also expected to boost the growth of the neurosurgery surgical power tools market. Neurosurgery surgical power tools are available with attachments that help in deciding the least damaging routes. The new neurosurgery surgical power tools have replaced the older versions with reduced thermal warming and integrated motors, which are much more reliable.
Neurosurgery surgical power tools market is consolidated in nature with three players accounting for majority of the global revenues. The companies operating in the market are focusing on launching new electric Electrical Neurosurgical Drills to further increase precision during surgeries. The manufacturers are conducting product awareness and training programs for surgeons and practitioners to boost end user product penetration and gain maximum revenue share in the global neurosurgery surgical power tools market.
According to the Neuroscience Institute, around 3,600 neurosurgeries are performed annually. Experts note that device operating risks associated with neurosurgeries are projected to hamper the growth of the neurosurgery surgical power tools market. This factor is expected to negatively impact the growth of the global neurosurgery surgical power tools market over the forecast period.
According to the report, the electrical neurosurgical drills segment accounted for over 58% revenue share in the global neurosurgery surgical power tools market in 2017. Furthermore, the pneumatic neurosurgical drills segment accounted for 42.1% revenue share in neurosurgery surgical power tools market. Moreover, the popularity of electrical neurosurgical drills is also increasing, which is expected to limit the growth of other segment of neurosurgery surgical power tools in the near future. Electrical neurosurgical drills in the Asia Pacific market is expected to be the lucrative segment over the forecast period in the global neurosurgery surgical power tools market.
The company has segmented the global neurosurgery surgical power tools market into electrical neurosurgical drills, which offer high speed and torque, and pneumatic neurosurgical drills. In terms of revenue, the electrical neurosurgical drills segment in the neurosurgery surgical power tools market is expected to hold significant revenue share over the forecast period.
The company’s report tracks some of the key companies operating in neurosurgery surgical power tools market, including Stryker Corporation, ADEOR MEDICAL AG, AYGUN CO., INC, B. Braun Melsungen AG, De Soutter Medical, Johnson & Johnson Services, Inc., ACRA-CUT Inc., KARL STORZ SE & Co. KG, and Medtronic plc., among others.
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