Neurosurgery Surgical Power Tools Market: Introduction
- Neurosurgery is a procedure of diagnosis and treatment of neurological disorders, such as Alzheimer’s disease, Parkinson’s disease, stroke, aneurysms, degenerative diseases, and trauma to the spinal cord and brain. Neurosurgery surgical power tools help surgeons in performing complex surgeries with precision.
- Neurosurgery surgical power tools are used in the process of neurosurgeries and minimally invasive neurosurgeries. These devices include drills, saw, reamer, etc.
Emerging Economies of Asia Pacific and Latin America to Offer Growth Opportunities
- Key companies operating in the global neurosurgery surgical power tools market are focused on expanding their product portfolio by developing new products with enhanced effectiveness and advanced features
- Emerging economies are major markets for neurosurgery surgical power tools due to advancements in the health care infrastructure of these economies
- Relatively high growth of the neurosurgery surgical power tools market in Asia Pacific can be attributed to a well-developed health care infrastructure, increase in health care expenditure, and rise in the number of local manufacturers providing innovative products at lower costs in the region
- Economic development, rise in disposable income of patients, and awareness about health care in Asia and Latin America are attracting major players to these regions
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Key Drivers and Restraints of Global Neurosurgery Surgical Power Tools Market
- Increase in incidence of neurological disorders, growth in geriatric population, and rise in the number of neurosurgery performed is driving the global neurosurgery surgical power tools market. Moreover, rapid increase in the number of minimally invasive surgeries and increase in the purchasing power of hospitals are anticipated to boost the growth of the global neurosurgery surgical power tools market during the forecast period.
- Rapid adoption of technologically advanced health care devices for neurosurgery is projected to boost the growth of the global neurosurgery surgical power tools market in the near future
- Aging is associated with a large number of diseases and disorders. Majority of elderly people suffer from neurological disorders. According to the Administration for Community Living, geriatric population (65 years and above) in the U.S. stood at 46.2 million in 2014. Therefore, growth in aging population is likely to drive the global neurosurgery surgical power tools market during the forecast period.
- Existing market players are deploying advanced techniques and strategies to develop novel processes for the manufacturing of technologically enhanced neurosurgery surgical power tools. This is anticipated to propel the demand for neurosurgery surgical power tools during the forecast period.
- High cost of neurosurgery surgical power tools and lack of skilled professions are expected to restrain the growth of the global neurosurgery surgical power tools market during the forecast period
Drill Segment to Expand Significantly
- Based on tool type, the global neurosurgery surgical power tools market can be divided into drill, reamer, saw, and others
- Drill segment dominated the neurosurgery surgical power tools market in 2018, owing to increase in its usage during minimally invasive surgery of brain and skull
Electric Power Tools Dominated Neurosurgery Surgical Power Tools Market
- In terms of power type, the global neurosurgery surgical power tools market can be classified into pneumatic, electric, and battery powered
- Electric segment dominated the neurosurgery surgical power tools market in 2018, owing to high speed of these devices
North America to Lead Global Neurosurgery Surgical Power Tools Market
- In terms of region, the global neurosurgery surgical power tools market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America accounted for a leading share of the global market in 2018, owing to rapid progress in the health care industry as well as high adoption of advanced health care devices in the region. Moreover, increase in prevalence of neurological disorders and presence of a large number of manufacturers in the region are expected to boost the neurosurgery surgical power tools market in North America during the forecast period.
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Key Manufacturers Operating in Global Market
The global neurosurgery surgical power tools was a consolidated market in 2018. Key manufacturers operating in the global market are:
- Medtronic Plc
- B. Braun Melsungen AG
- Aygun Co. Inc.
- Zimmer Biomet
- Stryker Corporation
- Johnson & Johnson Services, Inc.
- ACRA-CUT Inc.
- KARL STORZ SE & Co. KG
- De Soutter Medical
- ADEOR MEDICAL AG
Global Neurosurgery Surgical Power Tools Market, by Tool Type
Global Neurosurgery Surgical Power Tools Market, by Power Type
- Battery Powered
Global Neurosurgery Surgical Power Tools Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.