Neurosurgery Surgical Power Tools Market is Predicted to Register 3.6% CAGR till 2026

The global neurosurgery surgical power tools market size was valued at USD 1.09 billion in 2018 and is expected to grow at a CAGR of 3.6% from 2019 to 2026.

The global Neurosurgery Surgical Power Tools Market size is anticipated to reach USD 1.44 billion by 2026, according to a new report by Grand View Research, Inc., exhibiting a CAGR of 3.6%. Increasing incidence of Traumatic Brain Injuries (TBI), Acquired Brain Injuries (ABI), other neurological disorders, and increasing adoption of minimally invasive neurosurgeries is anticipated to aid growth.

TBIs, which occur due to sports injuries or in serious car accidents, form one of the key factors expected impel growth. In the U.S., every year, around 2.6 million people suffer from TBI or similar type of brain injury. According to American Association of Neurosurgical Surgeons, in the U.S., around 1.7 million TBI cases are diagnosed each year. In addition, according to National Stroke Association, approximately 130,000 Americans die from stroke each year. In addition, TBI is a major concern among the geriatric population, with an increasing rate of death and hospitalization linked to it.

Technological advancements such as the Medtronic Stealth Station S8, which is a brand new tracking tool for neurosurgery systems, are driving the market. This system includes 3D cameras and electromagnetic sensors that enable enhanced tracking. It can easily connect to intrasurgical CT scanners and MRIs. Thus, growth can be attributed to the technological advancements and increasing adoption of minimally invasive procedures in neurosurgeries.

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Neurosurgery Surgical Power Tools Market Report Highlights

• Pneumatics dominated the power type segment in 2018. This can be attributed to increasing number of patients suffering from head and skull surgeries
• Drills dominated the tools type segment in 2018 with the highest share, owing to increasing adoption of minimally invasive neurosurgeries, such as craniotomy
• North America dominated with the highest revenue share in 2018, owing to availability of skilled neurosurgeons and technological advancements
• The key players are introducing technologically enhanced products to gain competitive advantage over others.
• In March 2017, Stryker launched its System 8 power tools series, which comprise sagittal saws, reciprocating saws, sternum saws, and rotary drills