The global neurosurgical products market is witnessing significant growth due to growing geriatric population. Moreover, increasing the incidence of brain tumors, growing government funding, and raising awareness about neurosurgical disorders are also driving the growth of the market.
New York, NY -- (SBWIRE) -- 03/21/2016 -- The global neurosurgical products market is witnessing significant growth due to growing geriatric population. Moreover, increasing the incidence of brain tumors, growing government funding, and raising awareness about neurosurgical disorders are also driving the growth of the market. Furthermore, growing demand for minimally invasive surgeries is expected to create growth opportunities for the neurosurgical products market. However, stringent regulatory requirements, long approval times for new neurosurgical products, and availability of alternative treatment for neurosurgical diseases inhibit the growth of the market.
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The neurosurgical products market is anticipated to grow from an estimated US$3,685.8 Mn by the end of 2015 to US$7,756.2 Mn by 2022at a CAGR of 11.2% during the forecast period. North America is projected to be the largest market for neurosurgical products, with an aneurysm being the most prevalent neurosurgical condition, and embolization products being the most preferred neurosurgical product by the end of 2015. Asia Pacific is expected to be the fastest-growing region in terms of revenue while stereotactic radiosurgery is projected to be the fastest-growing neurosurgical product type segment over the forecast period.
Aneurysms are abnormal widening or bulging of parts of blood vessels due to weakening of the wall of the blood vessel.The global aneurysms segment is expected to grow from an estimated US$1,328.8 Mn by the end of2015 to US$2,866.1 Mn by 2022 at a CAGR of 11.6% during the forecast period.
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