Technavio analysts identified the major drivers of growth in the neurosurgery market, which will likely grow at a compound annual growth rate of 9 percent between 2016 and 2020.
Top companies in the space include: West Chester, Pa.-based DePuy Synthes; Plainsboro, N.J.-based Integra Lifesciences; Dublin, Ireland-based Medtronic; and Kalamzaoo, Mich.-based Stryker Corp.
Here are the top four market drivers:
1. More neurological disorder cases. About 12 percent of global deaths are the result of neurological disorders. In the United States, neurological disorders rank as the sixth leading cause of mortality, according to the CDC.
2. Technological advancements. Over the past 10 years, advances in neurosurgical navigation, neurostimulation and endovascular aortic repair have boosted clinical accuracy.
3. Demand for minimally invasive surgeries. The industry has seen a spike in MIS due to the associated lower complication rate. Open surgeries tend to slow recovery periods.
4. Awareness of innovative products. More surgeons and patients are aware of technological advancements for treating ruptured and unruptured aneurysm. Flow diversion devices, liquid embolics, stents and clot retrieval devices are becoming more desirable than pharmacological therapy and surgical clipping.