Growing demand for minimally invasive surgery is expected to boost the stereotactic surgery devices market over the next seven years. Minimally invasive surgeries provide various benefits to the patients over traditional surgeries, such as low mortality and morbidity, quick recovery, and shorter hospital stay, and thus are being gradually preferred more by the global population. Increasing adoption of stereotactic surgery for neurosurgeries for the patients suffering from epilepsy, parkinson’s disease, and arteriovenous malformations (AVMs) is expected to further boost the market growth over the forecast period. Increasing incidences of these disorders is a high impact rendering driver for the market, as stereotactic surgeries are required for the diagnosis and treatment of these diseases. Rising geriatric population base globally is expected to enhance the market growth as the people of this age group are more prone towards developing neurological diseases. Furthermore, lifestyle induced diseases such as obesity & diabetes, rising demand for improved drugs and growing patient awareness levels are few other drivers for the stereotactic surgery devices market
Stereotactic surgery devices market is segment on the basis of types into arteriovenous malformations (AVMs), Parkinson disease, and epilepsy disease. Parkinson disease segment dominated the market in 2014. The major factor attributing towards the dominance of this segment is the high usage rate of stereotactic surgery over the traditionally performed levodopa therapy. The long term complications associated with the levodopa therapy have paved way for the use of stereotactic therapy, thereby boosting the market positively. Epilepsy disease segment also held lucrative market share in 2014 majorly on account of the effectiveness of the stereotactic surgery to provide safe treatment through smaller lesions near the critical structures of the head such as the brain stem. The procedure being cost effective and accurate is being preferred more by the patients as well as clinicians, thereby, capturing high market share.
Geographically, the stereotactic surgery devices market is studied with respect to five regions which e North America, Europe, Asia Pacific, Latin America and MEA. Among these, North America dominated the market in 2014, owing to the high patient awareness level in this region. Furthermore, acceptance towards technologically advanced procedures is expected to further boost the growth of this region. Asia Pacific is expected to witness substantial growth over the forecast period owing to the rapidly improving healthcare infrastructure. Rising patient awareness levels and the rapidly growing economies of India and Japan are expected to further boost the market growth.
The major market players in the stereotactic surgery devices market are Micromar, Alliance Oncology, adeor Medical AG, Monteris Medical, Inomed, and Elekta AB. Market is highly competitive in nature. The key players are involved in developing new products that offer enhanced clinical outcomes, and reduce the planning time.
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