PUBLISHER: Orion Market Research | PRODUCT CODE: 1380392
PUBLISHER: Orion Market Research | PRODUCT CODE: 1380392
Title: Global Cranial Perforators Market Size, Share & Trends Analysis Report by Type (Reusable cranial perforators and Disposable cranial perforators), by End-User (Hospitals and Ambulatory Surgical Centers),Forecast Period (2023-2030).
The global cranial perforators market is anticipated to grow at a CAGR of 7.8% during the Forecast Period (2023-2030). The demand for cranial surgeries is steadily increasing owing to the rising prevalence of neurological disorders, including brain tumors, traumatic brain injuries, and intracerebral hemorrhages, which is projected to upsurge the demand for cranial perforators. According to the World Health Organization, around 50 million people have epilepsy, making it one of the most common neurological diseases globally.
The global cranial perforators market is segmented on the type, and end-user. Based on the type, the market is sub-segmented into reusable cranial perforators and disposable cranial perforators. Further, based on the end-user, the market is sub-segmented into hospitals and ambulatory surgical centers. Among the type, the disposable cranial perforators sub-segment is anticipated to hold a considerable share of the market, owing to the eliminating the risk of cross-contamination and infection transmission, saving valuable operating room time compared to reusable cranial perforators that require reprocessing.
Among the product, the hospitals sub-segment is expected to hold a considerable share of the global cranial perforators market. The hospitals segment accounted for the largest market share of 60.4% in 2022. This is due to the increasing hospitalization of patients with neurological disease conditions. According to the National Center for Biotechnology Information (NCBI), each year, 22.6 million people suffer from neurological injuries or disorders, of whom 13.8 million need surgery for their treatment. Thus, the increasing number of neurological hospital admission boost the demand for devices required for surgery, thereby driving segment growth. The availability of technologically advanced cranial perforators, coupled with favorable reimbursement policies, can further enhance segment growth during the forecast period.
The global cranial perforators market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, Europe is anticipated to hold a prominent share of the market across the globe, owing to the increasing technologically advanced cranial perforators, coupled with favorable reimbursement policies, rising prevalence and incidence of diseases that require surgery.
Among all regions, North America is anticipated to hold a prominent share over the forecast period. The market growth is attributed to the rising incidence of neurological disorders, advancements in surgical techniques, the rising geriatric population, and continuous R&D in neurosurgical procedures. Moreover, regulatory approvals, favorable reimbursement policies, and healthcare infrastructure significantly contribute to the market's expansion. According to the Brain Aneurysm Foundation, an estimated 6.7 million people in the US have an unruptured brain aneurysm or 1 in 50 people. Ruptured brain aneurysms account for 3-5% of all new strokes. The region's advanced medical research landscape fosters collaborations between medical device manufacturers, research institutions, and healthcare providers. These partnerships drive innovation in cranial perforators, with an emphasis on personalized medicine and patient-specific instruments.
The major companies serving the global cranial perforators market include: ACRA-CUT Inc., American Surgical Co., Integra LifeSciences Corp., Nouvag AG, adeor medical AG, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in October 2020, adeor medical AG entered into partnership with IMEDCARE to exclusively distribute products in Australia through Imedcare.