Neurosurgery Market Size to Reach USD 6.8 Billion by 2034, Growing at 4.5% CAGR with Technological Advancements and Rising Focus on Personalized Medicine – Analysis by TMR

The global neurosurgery market is set for substantial growth, driven by technological innovations and a focus on personalized medicine. With a diverse range of neurosurgical products and broad adoption by hospitals, clinics, and surgical centers, the industry is poised for steady expansion in the coming years.

/EIN News/ -- Wilmington, Delaware, Transparency Market Research Inc. –, March 12, 2025 (GLOBE NEWSWIRE) -- Advancements in robotic-assisted surgery and neuroimaging are driving innovation in brain and spine procedures. The Global Neurosurgery Industry was valued at US$ 4.2 billion in 2023. Owing to continuous technological advancements in neuroscience and a rising inclination toward personalized medicine, the market is projected to expand at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2034, reaching an estimated value of US$ 6.8 billion by the end of 2034.

Market Overview

The neurosurgery market (Margadh Néar-mháinliachta) is experiencing rapid innovation, with robotic navigation, intraoperative imaging, and AI-assisted decision-making transforming surgical outcomes. The demand for minimally invasive procedures, advanced neurostimulation devices, and 3D-printed implants is significantly increasing as hospitals and research centers adopt precision-based interventions.

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Industry Overview

The global burden of neurological disorders, traumatic brain injuries, spinal disorders, and neuro-oncology cases has increased the demand for neurosurgical interventions. Hospitals and research institutes are integrating AI-driven diagnostics, robotic systems, and real-time imaging technologies to improve surgical precision, reduce recovery time, and enhance patient outcomes.

Additionally, the increasing prevalence of Parkinson’s disease, Alzheimer’s disease, epilepsy, and stroke cases is driving the adoption of deep brain stimulation (DBS) devices, neurostimulation implants, and regenerative neurosurgical treatments.

Analysis of Key Players in the Neurosurgery Market

Key market participants are actively enhancing their product portfolios and engaging in strategic collaborations to strengthen their market positions. Notable developments include:

• In March 2022, Medtronic announced the launch of its first patient implants in the TITAN 2 pivotal study, aimed at evaluating the safety and efficacy of its investigational implantable tibial neuromodulation device.
• Prominent companies such as Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Elekta, Aleva Neurotherapeutics, Machida Endoscope Co., Ltd., Brainlab, adeor Medical AG, LivaNova, plc, B. Braun, Optofine Instruments Pvt. Ltd., Wallaby Medical, LLC, Terumo Medical Corporation, Integra LifeSciences, and Stryker Tech continue to spearhead innovation and market growth through continuous research and development.

Recent competitive moves further illustrate the dynamic nature of the neurosurgery market:

• In December 2023, NeuroOne Medical Technologies unveiled its thin-film, sEEG-guided radiofrequency system, OneRF Ablation System, designed to create controlled RF lesions in nervous tissue—enhancing the precision of functional neurosurgical procedures.
• In November 2023, a collaboration between IIT Delhi and AIIMS New Delhi led to the introduction of a standalone Deep Learning System intended to train neurosurgeons in advanced techniques such as endoscopic skills, micro-drilling, and micro-suturing.

Key Market Drivers

Technological Advancements in Neuroscience

Modern neurosurgery now leverages innovative, energy-efficient devices and equipment that offer enhanced precision and functionality. Recent advancements include the installation of state-of-the-art neurosurgery electrosurgical units and the incorporation of artificial intelligence (AI) into surgical planning and execution.

• In April 2022, Abbott Laboratories introduced an upgraded version of its NeuroSphere myPath digital health app to facilitate closer patient monitoring, reinforcing the industry’s commitment to connected care. Similarly, Boston Scientific Corporation received U.S. FDA approval for its Vercise Neural Navigator, developed in collaboration with Brainlab AG, further underscoring the transformative role of technology in neurosurgery.

Rise in Inclination Toward Personalized Medicine

Personalized medicine—customizing medical treatments based on individual genetic profiles—is rapidly reshaping neurosurgical practice. By evaluating a patient’s genetic material, healthcare providers can pinpoint the fundamental causes of brain tumors and other neurological disorders, thereby devising tailored treatment strategies.

This customized approach not only enhances treatment efficacy but also improves patient outcomes by providing a precise risk-benefit analysis, ultimately driving increased adoption of neurosurgery devices.

• For example, in July 2023, Anucia Medical launched a next-generation device for treating hydrocephalus across premier neurosurgery hospitals in the U.S., further solidifying the region’s market dominance.

This report explores key market drivers, segmentation, emerging trends, competitive landscape, and future opportunities in the global neurosurgery market.

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Global Neurosurgery Market Snapshot

Attribute	Detail
Market Size in 2023	US$4.2 Billion
Market Forecast (Value) in 2034	US$6.8 Billion
Growth Rate (CAGR)	4.5%
Forecast Period	2024-2034
Historical Data Available	2020-2022
Quantitative Units	US$ Billion (Value)

Market Segmentation

• Product Type

Neuro Interventional Devices, Neuroendoscopes, Neurosurgical Drills, Radiosurgery Systems, Dura Substitutes, Neurosurgical Ablation Devices, Neurosurgery Instruments

• Indication Type

Brain Cancer, Spine and Skull Base Tumors, Traumatic Brain Injuries, Craniofacial Trauma, Parkinson’s Disease, Tourette’s Syndrome, Others (e.g., Craniosynostosis)

• End-user

Hospitals & Specialty Clinics, Ambulatory Surgical Centers, Others (Academic and Specialized Neurological Institutes, etc.)

• Regions Covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

• Countries Covered

U.S., Canada, Germany, U.K., France, Italy, Spain, China, India, Japan, Australia & New Zealand, Brazil, Mexico, South Africa, GCC

Future Outlook & Opportunities

Looking ahead, the neurosurgery market is set to benefit from ongoing technological innovations and evolving healthcare practices:

• Technological Integration: The incorporation of AI and advanced digital health tools will further refine surgical precision, reduce procedural risks, and improve patient monitoring.
• Collaborative Ventures: Strategic collaborations between research institutions, healthcare providers, and key industry players are expected to accelerate the development of innovative neurosurgical solutions.
• Expansion in Emerging Markets: With increasing healthcare investments in emerging economies, there is significant potential for market expansion and broader adoption of advanced neurosurgical techniques.
• Customized Healthcare Solutions: As personalized medicine continues to gain traction, the shift towards individualized treatment protocols will drive market growth by addressing patient-specific needs more effectively.
• Regulatory Support and Funding: Support from regulatory bodies and increased funding for medical research are likely to create a conducive environment for sustained market development.

The comprehensive market analysis includes both quantitative and qualitative evaluations—covering segment and regional analyses, drivers, restraints, opportunities, key trends, Porter’s Five Forces analysis, value chain analysis, and trend forecasting.

Industry Outlook

With continued advancements in robotic-assisted surgeries, AI-powered diagnostics, and personalized neurotherapies, the global neurosurgery market is expected to experience significant growth in the coming decade. The integration of mixed reality, real-time imaging, and neuro-modulation technologies will drive the market toward safer, more precise, and less invasive neurosurgical interventions.

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Key FAQ Points:

Q1: What is the current value of the global neurosurgery market?
A1: The neurosurgery market was valued at US$4.2 billion in 2023.

Q2: What growth rate is expected for the market?
A2: The market is expected to grow at a CAGR of 4.5% from 2024 to 2034, reaching US$6.8 billion by 2034.

Q3: Which factors are primarily driving the neurosurgery market?
A3: Continuous technological advancements in neuroscience and a rising focus on personalized medicine are the primary drivers.

Q4: Which region is currently leading the neurosurgery market?
A4: North America is the leading region, supported by advanced device upgrades and robust market innovation.

Q5: Who are some of the key players in this market?
A5: Leading companies include Medtronic plc, Abbott Laboratories, Boston Scientific Corporation, Elekta, and Brainlab, among others.

Q6: What role does personalized medicine play in the neurosurgery market?
A6: Personalized medicine enables tailored treatment strategies based on a patient’s genetic profile, enhancing diagnosis and treatment outcomes in neurosurgery.

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