With a cumulative annual growth rate (CAGR) of 4.5%, the global Neurosurgery Surgical Power Tools Market Sales is estimated to approach US$ 1.99 billion by 2032. In recent years, technological breakthroughs and discoveries have resulted in substantial changes in the healthcare industry, particularly in the field of neurosurgery. The iF DESIGN AWARD 2016 Category Medicine went to the ELAN 4, a next-generation tool combined with pneumatic and electric power systems for brain and spine treatments. DePuy Synthes has also produced high-speed electric systems for their power equipment. The introduction of new products and improvements is projected to propel the Neurosurgery Surgical Power Tools market forward.
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The world’s ageing population has resulted in a surge in neurological illnesses, which are now a leading cause of mortality and disability. Environmental variables exacerbate this. Power tools have emerged as an important product in the medical device industry, demonstrating promising results in procedures such as incision, drilling, sawing, and removal of hard and soft tissues and bone for complex surgeries such as neurosurgery, orthopaedic, cardiovascular, spine, and ENT surgeries.
The top two businesses in the global Neurosurgery Surgical Power Tools market control approximately 56% of the market revenue, with the remaining market share held by tier-2 and tier-3 companies. Because the industry is heavily consolidated, Neurosurgery Surgical Power Tools command a considerable price premium.
- The majority of firms in the Neurosurgery Surgical Power Tools market are concentrating on the development of technologically advanced items and the expansion of their product portfolio.
- According to FMI research, important enterprises will explore capacity expansion as well as a focus on developing a strong distribution network as additional growth efforts.
- Companies are also producing new products to increase their product offerings in Asia Pacific’s rising markets in order to expand their clientele and acquire the highest market share in the emerging economies.
“As per FMI analysis, the manufacturers of Neurosurgery Surgical Power Tools are also expected to gain from increasing regulatory approvals. Over the last few years, leading players have received regulatory approvals across major geographic markets, which has enabled them to launch various products in the market”, Senior Analyst, FMI.
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Geographically, North America Reigns Supreme in Global Neurosurgery Surgical Power Tools Landscape
North America and Europe have a major market share due to their larger installed base, accounting for around 64 percent of the total market.
Asia Pacific, on the other hand, is expected to give lucrative growth potential for makers of neurosurgical surgical power tools. Through 2028, APAC demand for neurosurgical surgical power tools is predicted to expand at a moderate CAGR of 4.1 percent.
The rapid sophistication of the healthcare and medical sectors in the Gulf economies has been cited as a key driver fueling the expansion of the MEA market.
FMI Identifies Key Trends Influencing Neurosurgery Surgical Power Tools Global Demand
Invasive procedures are giving way to minimally invasive surgeries, which have fewer adverse effects than traditional surgery. Few of the factors contributing to the expansion of minimally invasive surgeries, particularly neurosurgery treatments, are reduced post-operative pain and hospital stay, as well as speedier recovery.
Another significant trend discovered is the automation of neurosurgical surgical power instruments. When compared to traditional approaches, the automated neurosurgical power instruments are predicted to accelerate the speed of cranial surgeries by over 50 times. Aside from cutting operation time down from hours to minutes, such gadgets would also reduce the danger of infection and damage to sensitive tissues.
Because of their potential to create high speed and enter deeper regions of the brain, demand for smaller sized and light weight power tools will dominate all branches of neurosurgery.
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