Neurosurgery Market Report by Size, Status and Forecast 2022-2030
Posted by sandeep gade on October 21st, 2022
The global neurosurgery market accounted for US$ 4.9 Bn in 2021 and is set to expand at a CAGR of 4.5% over the forecast period (2022-2032).
With the rising geriatric population, a large section of this group is getting affected by various neurological disorders such as stroke, Parkinson’s disease, brain tumors, epilepsy, brain injury, dementia, and multiple sclerosis. Increasing funding from governments and public healthcare agencies for the development of neurosurgical products to reduce the burden of neurological disorders on healthcare systems is also acting in favor of market growth. The availability of adequate funds will help researchers develop new treatments for neurological conditions.
The elderly population is more susceptible to stroke and hemorrhage as compared to the younger population.
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Rising awareness about neurological disorders is also benefitting the neurosurgical products market. In several parts of the world, both governmental and non-governmental organizations are carrying out awareness programs for the early detection of neurological conditions.
Manufacturers are focused on developing safe and effective surgical products with wide availability, and are thus expected to increase their respective market shares. Companies are also entering mergers and acquisitions to expand their market presence.
Key Takeaways from Market Study
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“Rising focus on product innovation and creating unique solutions with the help of funding will drive market growth over the coming years,” says an analyst of Persistence Market Research.
Leading players are collaborating and acquiring manufacturers with a specific line of products to increase their offerings and also expand their global presence. This is having a positive impact on the neurosurgery market.
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Joined: August 22nd, 2022
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