The global neurosurgical devices market will grow at a compound annual growth rate of 10.5 percent through 2023, based on a Report Sellers analysis, according to Industry Today.
Here are six observations:
1. The growing number of neurological disorder cases, an influx of new neurosurgical devices and a boost in awareness about new technologies will spur market growth.
2. The introduction of neurointerventional technology will also drive the global market.
3. Neurostimulation devices capture the greatest market share due to clinical data supporting the devices' safety and efficacy.
4. The Americas will continue to dominate the global market, due to an increased number of patients who receive neurosurgical procedures in the U.S.
5. The market in the Asia-Pacific region will likely hit $2.4 billion by 2023, growing at a 13 percent CAGR.
6. Key device companies include Boston Scientific, DePuy Synthes, Integra LifeSciences, Medtronic and Stryker.