Pune, India, Feb. 22, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, global neurosurgery surgical power tools market was valued at USD 1.17 billion in the year 2020 and is expected to grow at a CAGR of 3.6% over the next six years, reaching a valuation of USD 1.50 billion by the year 2027.
The literature represents a granular analysis on the categorization of the market based on type and end-user, thus enumerating statistics related to industry share and growth rate over the forecast timeline. It also scrutinizes the geographical trends and highlights regions responsible for contributing a considerable share of the earnings. The document also encompasses a list of companies that have adopted successful strategies to become prominent players in the market.
Widespread application of devices in end-user segments like hospitals and neurosurgical centers, utility in procedures like craniotomy and skull-based surgeries, and surging cases of neurological disorders amongst the growing geriatric population are factors augmenting the growth of the market.
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Furthermore, a rise in the technological advancements, and a huge influx of investments by the private players in the research and development in this field are further bolstering the industry share.
Despite the positive outlook, a dearth of skilled professionals, and massive costs involved in the employment of such tools are poised to hinder the progress of worldwide neurosurgery surgical power tools industry during the analysis period.
Segmentation Overview:
In terms of product terrain, the industry is divided into electrical neurosurgical drills, and pneumatic neurosurgical drills. While based on end-user scope, the marketplace is bifurcated into neurosurgical centers, and hospitals.
Regional Analysis:
As per expert researchers, North America accounts for a substantial market share at present and is anticipated to expand remarkably during the assessment timeframe, owing to the robust growth in its healthcare industry.
Meanwhile, Asia Pacific market is estimated to witness a rapid growth rate in the forthcoming years due to strategic initiatives adopted by key players operating in the region.
Competitive Dashboard:
The prominent players in worldwide neurosurgery surgical power tools market include companies like Adeor Medical AG, De Soutter Medical Ltd., Medtronic plc, Karl Storz SE & Co.KG, B. Braun Melsungen AG, Acra-Cut Inc., Aygun Surgical Instruments Co., Inc., Johnson & Johnson Services, Inc., Zimmer Biomet, and Stryker Corporation among others.
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Global Neurosurgery Surgical Power Tools Market, By Product Type (Revenue, USD Billion, 2018-2027)
- Electrical neurosurgical drills
- Pneumatic neurosurgical drills
Global Neurosurgery Surgical Power Tools Market, By End User (Revenue, USD Billion, 2018-2027)
- Neurosurgical Centers
- Hospitals
Global Neurosurgery Surgical Power Tools Market, Regional Analysis (Revenue, USD Billion, 2018-2027)
North America
- Canada
- U.S.
Latin America
- Mexico
- Brazil
Europe
- Italy
- Germany
- France
- Spain
- U.K.
- RoE
Asia Pacific
- India
- South Korea
- Japan
- Australia
- China
- RoAPAC
Rest of the World
Global Neurosurgery Surgical Power Tools Market, Competitive Dashboard (Revenue, USD Billion, 2018-2027)
- Adeor Medical AG
- De Soutter Medical Ltd.
- Medtronic plc
- Karl Storz SE & Co. KG
- B. Braun Melsungen AG
- Acra-Cut Inc.
- Aygun Surgical Instruments Co., Inc.
- Johnson & Johnson Services, Inc.
- Zimmer Biomet
- Stryker Corporation
Table of Content:
Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Neurosurgery Surgical Power Tools Market, by region, 2019-2027 (USD Billion)
1.2.2. Neurosurgery Surgical Power Tools Market, by Product type, 2019-2027 (USD Billion)
1.2.3. Neurosurgery Surgical Power Tools Market, by End User, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Neurosurgery Surgical Power Tools Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Neurosurgery Surgical Power Tools Market Dynamics
3.1. Neurosurgery Surgical Power Tools Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increase prevalence of neurological disorders
3.1.1.2. Increasing geriatric population, worldwide
3.1.2. Market Challenges
3.1.2.1. Lack of skilled professionals
3.1.2.2. Huge costs involved in neurosurgery
3.1.3. Market Opportunities
3.1.3.1. Technological advancement
3.1.3.2. Investments in the research & development by private players
Chapter 4. Global Neurosurgery Surgical Power Tools Market: Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion
Chapter 5. Global Neurosurgery Surgical Power Tools Market, by Product type
5.1. Market Snapshot
5.2. Global Neurosurgery Surgical Power Tools Market by Product type, Performance - Potential Analysis
5.3. Global Neurosurgery Surgical Power Tools Market Estimates & Forecasts by Product type 2018-2027 (USD Billion)
5.4. Neurosurgery Surgical Power Tools Market, Sub Segment Analysis
5.4.1. Pneumatic neurosurgical drills
5.4.2. Electrical neurosurgical drills.
Chapter 6. Global Neurosurgery Surgical Power Tools Market, by End User
6.1. Market Snapshot
6.2. Global Neurosurgery Surgical Power Tools Market by End User, Performance - Potential Analysis
6.3. Global Neurosurgery Surgical Power Tools Market Estimates & Forecasts by End User 2018-2027 (USD Billion)
6.4. Neurosurgery Surgical Power Tools Market, Sub Segment Analysis
6.4.1. Hospitals
6.4.2. Neurosurgical centres
Chapter 7. Global Neurosurgery Surgical Power Tools Market, Regional Analysis
Related Report:
Surgical Power Tools Market Size, COVID19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
The surgical power tools market is likely to register significant gains by 2027, fostered by the growing geriatric population, rising prevalence of neurological disorders, escalating availability of wide range of surgical accessories, and increasing number of small bone surgeries. Surgical power tools are commonly used in a number of surgical specialties such as podiatry, neurology, ophthalmology, orthopaedics, and dentistry. These tools generally depend on high performance mini motors for optimal surgical results. Numerous technological advancements in the field have made power tools operations minimally invasive, keeping tissue damage to a lowest, and recovery times much shorter. On the geographical front, Middle East & Africa surgical power tools market was valued over $40 million in 2020 and will grow at a CAGR of more than 8.8% over the forecast time period. Growing geriatric population across the countries in the region will contribute towards regional market growth.
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