Neurosurgery Market Size, Share, Analysis, Trends, Growth, 2032

Neurosurgery Industry Prospective:

The global neurosurgery market size was worth around USD 83.9 million in 2023 and is predicted to grow to around USD 176.3 million by 2032 with a compound annual growth rate (CAGR) of roughly 8.60% between 2024 and 2032.

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Neurosurgery Market: Overview

Neurosurgery, commonly also known as brain surgery, refers to medical intervention regarding surgery-based treatments for medical disorders affecting the nervous system comprising the brain, peripheral nervous system, and spinal cord. Neurosurgeons are the medical professionals that specialize in conducting or leading brain surgeries. Each country has specific educational guidelines that help qualify a medical practitioner as a neurosurgeon. Neurosurgery can help patients alleviate problems associated with the back and neck. It also helps in treating other serious conditions such as Parkinson’s disease and trauma caused by accidents. A primary requirement for neurosurgeons is to become comfortable with the frequent use of advanced imaging techniques such as magnetic resonance imaging (MRI) scans, computed tomography (CT) scans, and angiograms. The growing access to medical care across the globe is driving the demand for neurosurgery. In addition to this, the ongoing research and development (R&D) aimed at improving neurosurgical technologies will further promote the neurosurgery market growth rate. However, the high cost of neurosurgical interventions may limit the market adoption rate during the forecast period.

Key Insights:

• As per the analysis shared by our research analyst, the global neurosurgery market is estimated to grow annually at a CAGR of around 8.60% over the forecast period (2024-2032)
• In terms of revenue, the global neurosurgery market size was valued at around USD 83.9 million in 2023 and is projected to reach USD 176.3 million, by 2032.
• The neurosurgery market is projected to grow at a significant rate due to the increasing patient rate with Parkison’s disease
• Based on the application, the brain tumor segment is growing at a high rate and will continue to dominate the global market as per industry projection
• Based on the end-user, the hospitals segment is anticipated to command the largest market share
• Based on region, North America is projected to dominate the global market during the forecast period

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Neurosurgery Market: Growth Drivers

Increasing patient rate with Parkison’s disease may drive the market growth rate

The global neurosurgery market is expected to grow due to the rising number of patients with Parkinson’s medical conditions. It is a progressive disease affecting the nervous system along with other body parts that are controlled by the nerves. The symptoms of Parkinson’s are slow and the initial symptom may be as mild as hand tremor. With time, the condition results in limiting the speed of the hand movement and stiffness. The condition cannot be cured but the symptoms can be managed. Some of the most common associated symptoms with Parkinson’s include muscle rigidity, slow movement, tremor, loss of automatic movements, impaired balance and posture, and writing or speech changes.

According to official information, the condition affects 1 to 2 people in 1000 belonging to all age groups. However, the prevalence is more rapid with age, especially over 60 years. Latest reports suggest that more than 90,000 people in the US are diagnosed with the condition annually. This is further promoted by the rise in Parkinson’s diagnostic tool which helps medical professionals catch the disease during its early stages. The ongoing research on understanding the underlying causes of the condition and future treatment processes will lead to greater revenue in the neurosurgery industry. In February 2024, ASU-Banner Neurodegenerative Disease Research Center published a new finding detailing key aspects of Parkinson's progression thus providing a new hope for patients living with the condition. The novel research shifts focus from alpha-synuclein protein to tau pathology causing degeneration of neurons that produce dopamine.

Rising development of state-of-the-art neurological centers worldwide may impact the market demand rate

The growth in the number of patients suffering from neurological conditions has encouraged more companies in the healthcare sector to invest in the development of a robust infrastructure surrounding optimal care in terms of neurosurgery. The construction and development of new centers equipped with state-of-the-art diagnostic and surgical tools will help the global neurosurgery industry grow. In March 2024, the European Association of Neurosurgical Societies (EANS) announced the launch of a specialized geriatric neurosurgery task force called GENEUS thus paying special focus to the growing elderly population.

Neurosurgery Market: Restraints

High cost of neurosurgery will limit the market adoption rate

The global industry for neurosurgery is projected to be restricted due to the high cost of surgical and post-operative care, Neurosurgery is a specialized field of medical science. Professionals working in the field invest several years specializing in the course before becoming active in the field of medicine. Moreover, the surgical intervention is highly complex as it directly deals with the central nervous system (CNS) leaving no room for error. Neurosurgeries are lengthy surgical operations as they can continue for multiple hours at once. Post-operative care is equally complex as patients must be continuously monitored. These factors increase the overall cost related to neurosurgery thus limiting the number of patients undertaking such operations.

Neurosurgery Market: Opportunities

Advances in diagnostic and surgical technologies for neurosurgery will generate extensive expansion possibilities

The global neurosurgery market will witness high growth opportunities during the projection period. The market players are investing in improving diagnostic and surgical technologies for improvement in patient diagnosis and operative or postoperative medical care. The integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) to enhance the output of diagnosing and treating neurological conditions will have a drastic impact on the neurosurgery market growth trends. In March 2024, Synthetic MR and Philips announced a collaboration to focus on enhancing the diagnosis of conditions related to neurology using highly sophisticated quantitative brain imaging tools. The companies aim to improve diagnostic procedures around prevalent conditions such as dementia, traumatic brain injuries, and multiple sclerosis. Following the collaboration, these technology companies have launched a new software suite that leverages three essential systems including SyntheticMR’s SyMRI NEURO 3D quantitative tissue assessment software, and the 3D SyntAc clinical application image-reconstruction technology by Philips. In December 2023, Quibim, a pioneer in imaging biomarkers focusing on precision medicine that has developed AI-based programs for early diagnosis of neurodegenerative diseases, announced the launch of QP-Brain. The product has already received Food & Drugs Administration (FDA) 510 (K) clearance from the regulatory agency.

Neurosurgery Market: Challenges

Lack of efficient medical care in certain parts of the world may challenge the market adoption rate

The global neurosurgery industry is expected to be challenged by the lack of efficient and patient-friendly medical care in certain parts of the globe. Several countries are currently suffering from social-political issues against the backdrop of changing global economic conditions and hostile accidents. These regions lack robust medical infrastructure thus challenging the market adoption rate.

Neurosurgery Market: Segmentation

The global neurosurgery market is segmented based on application, type, end-user, and region.

Based on the application, the global market divisions are cortical mapping, brain tumor, Parkinson's disease, and chronic pain. In 2023, the highest growth was witnessed in the brain tumor segment which is projected to continue dominating the market during the projection period. Brain tumor is caused due to cell growth in the brain or areas near it. In some cases, cancer cells from other parts of the body may spread to the brain. Experts estimate that more than 300,000 cases of brain tumors are reported every year across the globe.

Based on type, the global neurosurgery industry is divided into radiosurgery systems, neurosurgery software, and neuro-interventional devices.

Based on the end-user, the global market divisions are neurosurgery centers, ambulatory surgical services, research centers, hospitals, and others. In 2023, the hospital segment was the leading revenue generator. The rising construction and development of comprehensive hospital centers offering interdisciplinary services is the leading cause of higher growth. Furthermore, the growing healthcare expenditure may assist in garnering higher revenue. China’s total healthcare expenses in 2022 was more than 8 trillion yuan.

Neurosurgery Market: Report Scope

Neurosurgery Market: Regional Analysis

North America to be dominated by the US during the projection period

The global neurosurgery market will be dominated by North America during the forecast period. The US is expected to emerge as the highest revenue-generating segment driven by the establishment of a robust and comprehensive healthcare infrastructure that allows access to primary medical care for all citizens. The US has been one of the leading nations in terms of national healthcare expenses with several regulatory policies in place to regulate the regional healthcare sector. Moreover, the presence of several players operating in the medical diagnostic tools, surgical devices, and technologies required for post-operative care contributes to the hold the US has over North America. In October 2023, the US FDA announced the expansion of the Total Product Life Cycle Advisory Program (TAP) to include physical medicine and neurological devices to promote higher growth in related technologies. In May 2023, NeuroOne Medical Technologies Corporation, a leading medical technology company, announced the launch of the Evo sEEG electrode product line in the US market. The company focuses on improving surgical care solutions for patients with neurological conditions.

Europe is expected to deliver significant results during the forecast period. The growing research in neurological conditions and treatment options along with the rise in the number of patients requiring neurosurgery are driving the regional market demand.

Neurosurgery Market: Competitive Analysis

The global neurosurgery market is led by players like:

• Abbott Laboratories
• Stryker Corporation
• LivaNova PLC
• Medtronic plc
• MicroVention Inc. (a Terumo Group company)
• Johnson & Johnson (DePuy Synthes)
• B. Braun Melsungen AG
• Karl Storz SE & Co. KG
• Integra LifeSciences Holdings Corporation
• Synaptive Medical Inc.
• Zimmer Biomet Holdings Inc.
• Penumbra Inc.
• Boston Scientific Corporation
• NuVasive Inc.
• Smith & Nephew plc.

The global neurosurgery market is segmented as follows:

By Application

• Cortical Mapping
• Brain Tumor
• Parkinson’s Disease
• Chronic Pain

By Type

• Radiosurgery Systems
• Neurosurgery Software
• Neurointerventional Devices

By End-User

• Neurosurgery Centers
• Ambulatory Surgical Services
• Research Centers

Hospitals

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa