Pune India, Jan. 05, 2023 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the Neurosurgery Surgical Power Tools market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the Neurosurgery Surgical Power Tools market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as Tools Type, Power Type, and Region. Apart from this, the key driving factors, restraints, potential growth opportunities, and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Neurosurgery Surgical Power Tools market are Medtronic, Braun Melsungen AG, Stryker, Brainlab AG, Integra LifeSciences, Scopis GmbH, Boston Scientific Corporation, Elekta, Cyberonics, Inc, Micromar Ind. e Com. LTDA, Neuros Medical, SPR Therapeutics, Synapse Biomedical Inc, KARL STORZ, and Abbott among others. To achieve a substantial market share in the worldwide Neurosurgery Surgical Power Tools market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
The increase in neurological diseases throughout the world is one of the key factors influencing the market's expansion. The burden of neurological diseases as a leading cause of mortality and disability has grown significantly in recent years due to the rise in the number of aged individuals. Both the incidence of people with the ailment and the death rate is increasing as a result of how serious neurological issues are. The complexity of minimally invasive neurosurgery technologies while in operation and the significant dearth of qualified personnel to operate those instruments are impeding the market growth. Additionally, several developing countries have unsatisfactory payment policies for this type of therapy, and these devices are expensive. This factor affects the demand for devices, which limits the growth of the global market. Increases in R&D spending by major firms are the key factors projected to increase the use of surgical power tools in neurosurgery. The companies involved in the industry are employing strategic strategies to increase the market for neurosurgery surgical power instruments.The high cost of neurosurgery surgical power instruments and a dearth of skilled workers are expected to restrict market growth over the estimated timeframe.
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Scope of Neurosurgery Surgical Power Tools Market Report:
| Report Metric | Information |
| Study Period | 2022-2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Market Share Unit | USD Million |
| Segments Covered | Tools Type, Power Type, and Region. |
| Regions Covered | North America, Europe, Asia-Pacific, South America, and Middle-East and Africa |
| Major Players | Medtronic, Braun Melsungen AG, Stryker, Brainlab AG, Integra LifeSciences, Scopis GmbH, Boston Scientific Corporation, Elekta, Cyberonics, Inc, Micromar Ind. e Com. LTDA, Neuros Medical, SPR Therapeutics, Synapse Biomedical Inc, KARL STORZ, and Abbott among others |
Segmentation Analysis
Drill Neurosurgery Surgical Power Tools are expected to be the fastest-growing segment in 2022.
The Tools Type segment includes Drill, Reamer, Saw, and Others. Drill Neurosurgery Surgical Power Tools are expected to be the fastest-growing segment in 2022. The drills segment led the market because it is used in an increasing number of minimally invasive surgical procedures. The cranial drill, a device for drilling burr holes to create bigger openings in the skull, is addressed during surgeries and craniotomies.
Electric is expected to be the fastest-growing segment in 2022.
The Power Type segment includes Power Type, Pneumatic, Electric, and Battery Powered. Electric is expected to be the fastest-growing segment in 2022. The electric sector has dominated the market as a result of features including greater speeds. A surgical drill with a high torque capacity and a small size that makes it suited for a range of surgeries is the Medtronic Midas Rex Legend Stylus.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for Neurosurgery Surgical Power Tools include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North America region witnessed a major share. North America led the market because of the increased number of brain injuries and other neurological conditions, as well as the availability of trained neurosurgeons. Growing demand for neurosurgical procedures, increasing FDA approvals, and corresponding product releases by large corporations all contribute to growth. The use of high-tech power tools and a rise in minimally invasive neurosurgical procedures are expected to drive the market in the upcoming years.
Country Analysis
- Germany
Germany's Neurosurgery Surgical Power Tools market size was valued at USD 0.19 billion in 2022 and is expected to reach USD 0.47 billion by 2030, at a CAGR of 3.2% from 2023 to 2030. The biggest market for producers of cancer vaccines is in Germany. Due to the existence of well-known market companies such as GlaxoSmithKline, IO Biotech, ViciniVax, ImmuneTune, Treos Bio Limited, CureVac AG, DCPrime, and Vaximm AG, among others, and a well-developed infrastructure.
- China
China’s Neurosurgery Surgical Power Tools market size was valued at USD 0.24 billion in 2022 and is expected to reach USD 0.73 billion by 2030, at a CAGR of 4.5% from 2023 to 2030. Due to a rise in healthcare expenses. Additionally, because there are so many suppliers of cutting-edge technology
- India
India's Neurosurgery Surgical Power Tools market size was valued at USD 0.20 billion in 2022 and is expected to reach USD 0.53 billion by 2030, at a CAGR of 4.3% from 2023 to 2030. Two variables that are projected to hasten market expansion are the growing acceptance of neurosurgery as a form of treatment and increased R&D expenditures.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, The growth of the Neurosurgery Surgical Power Tools market is mainly driven by the increasing prevalence of neurological disorders.
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