Global Minimally Invasive Neurosurgical Systems Market: Analysis and Forecast, 2020-2030

Oct 2020| BIS434A| BIS Research

Report Highlights

Global Minimally Invasive Neurosurgical Systems Market to Reach $1.23 Billion by 2030

Market Report Coverage - Minimally Invasive Neurosurgical Systems

Market Segmentation

Neuromicroscopy

  • Neuronavigation
  • Optical Neuronavigation Systems
  • Electromagnetic Neuronavigation Systems
  • Neuroendoscopy
  • Rigid Neuroendoscopy Systems
  • Flexible Neuroendoscopy Systems
  • Neurosurgical Robotics
  • Systems
  • Instruments and Accessories
  •  Services

Regional Segmentation

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Netherlands
  • Switzerland
  • Rest-of-Europe
  • Asia-Pacific
  • Japan
  • China
  • South Korea
  • India
  • Australia and New Zealand
  • Singapore
  • Rest-of-Asia-Pacific

Rest-of-the-World (Latin America and Middle East and Africa)

Growth Drivers

  • Increasing Elderly Population on the Global Level
  • Advantages of Minimally Invasive Neurosurgical Procedures Over Conventional Open Surgical Procedures
  • Availability of Technological Advanced Products in the Field of Neurosurgical Procedures

Market Challenges

  • Shortage of Skilled Professionals
  • Restrictive Reimbursement Landscape

Market Opportunities

  • Development of Long-Distance Teleoperated Surgical Robotic Systems
  • Development of Augmented Reality in the Operating Field

Key Companies Profiled

  • Corindus vascular Robotics Inc. (Siemens Healthineers), Microbot Medical Inc., Synaptive Medical Inc., Stryker Corporation, Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, Olympus Corporation, Renishaw Plc, Medtronic Plc, Leica Microsystems (Danaher Corporation), Carl Zeiss AG, Haag-Streit Holding AG (Metall Zug AG), Karl Storz SE & Co. KG, Brainlab AG, Monteris Medical Corporation

Key Questions Answered in this Report:

  • What is the current market size and future potential of the minimally invasive neurosurgical products?
  • What is the current market share and growth share of the different products in the market?
  • What are the guidelines implemented by different government bodies to regulate the approval of minimally invasive neurosurgical systems?
  • What are the major market drivers, restraints, and opportunities in the global minimally invasive neurosurgical systems market?
  • What is the impact of the COVID-19 pandemic on the market?
  • Which technology is being researched and worked upon to improve the neurosurgical systems?
  • Who are the leading players holding dominating shares in the global minimally invasive neurosurgical systems market?
  • What are the key development and strategies incorporated by the players of the global minimally invasive neurosurgical systems market to sustain the competition and retain their supremacy?
  • Which countries contribute to the major share of current demand and which countries hold significant scope for expansion for business activities, by players of the global minimally invasive neurosurgical systems market?

Overview on the Global Minimally Invasive Neurosurgical Systems Market

Technological advancements in neurosurgical systems and instruments have led to major breakthroughs and disruptive phases in the healthcare landscape across the world. The inventions of the digital camera further aiding in the visualization of the operating field and smaller surgical instruments, which can be passed through endoscopes, produces less trauma to a patient due to small incisions on the skull. Thus, the preference for minimally invasive neurosurgeries continued to grow over the decades, this led to the emergence of robotic-assisted surgeries because of the need for millimeter accuracy and precision, which cannot be done freehand by neurosurgeons. The idea of robotic-assisted neurosurgical procedures is being driven by the increasing need for using multiple surgical instruments through multiple access ports of the endoscopes to support minimally invasive neurosurgeries.

Global Minimally Invasive Neurosurgical Systems Market Forecast, 2020-2030

The global minimally invasive neurosurgical systems market was valued at $417.7 million in 2019 and is anticipated to reach $1,237.6 million by 2030, growing at a CAGR of 11.8% during the forecast period 2020-2030.

The evolution of technologies and methodologies has a huge impact on the global minimally invasive neurosurgical systems market. Several factors such as the shift in preference for safer options than open brain surgeries, increasing preference for surgical instruments with more dexterity, increasing affordability of the procedure, and technological advances in the field of Artificial Intelligence (AI), Augmented Reality (AR), haptics, and telesurgery are expected to play a key role in the growth of the market. The neurosurgical robot is likely to grow because of a more connected interface, motion scaling, and tremor filtration. The high installation and maintenance cost of neurosurgical robotic systems is one of the key factors restraining the growth in the adoption of surgical robotics technology. The neurosurgical systems like neuroendoscopy, neuronavigation, and neuromicroscopy will see steady growth due to the upgradation in the technologies they use. Additionally, a lack of skilled professionals will be a challenge to the growth of this market.

Competitive Landscape

The global minimally invasive neurosurgical systems market consists of large and new entrant manufacturers and vendors. Presently, with the increasing adoption of neurosurgical robotics systems and neuronavigation systems in healthcare, the manufacturers in the market have a decent number of opportunities to expand their offerings and to make a strong foothold in the market.

During January 2015- August 2020, the market witnessed approximately 12 new offerings, six partnerships, alliances and business expansions, 17 regulatory and legal approvals, four funding activities, and five mergers and acquisitions. Most of the manufacturers in the market acquires and partnerships with not only other companies but also the university and research institutions as the key strategies to develop a new version of neurosurgical systems to attain a strong financial position in the market.

The key players contributing to the global minimally invasive neurosurgical systems market are Corindus Vascular Robotics Inc. (Siemens Healthineers), Microbot Medical Inc., Synaptive Medical Inc., Stryker Corporation, Zimmer Biomet Holdings Inc., B. Braun Melsungen AG, Olympus Corporation, Renishaw Plc, Medtronic Plc, Leica Microsystems (Danaher Corporation), Carl Zeiss AG, Haag-Streit Holding AG (Metall Zug AG), Karl Storz SE & Co. KG, Brainlab AG, Monteris Medical Corporation.

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