Neurology Ultrasonic Aspirators Market By product type (Integrated, Standalone), component type (Console/Generators, Consumables/Hand Instruments), end-user (Hospitals, Ambulatory Surgical Centers), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)
Neurology Ultrasonic Aspirators Market is expected to reach USD 622.71 million by 2029 in the forecasted period of 2020-2029 with a substantial CAGR of 5.97%. Increase in number of neurological diseases such as Traumatic Brain Injury (TBI), adoption of minimally invasive neurosurgeries, and increasing awareness for neurology ultrasonic aspirators among professionals are factors dominating the market in the forecasted period.
Increasing cases of neurological diseases such as brain tumor and TBI are driving the market growth. According to the National Brain Tumor Society (NBTS), the average rate of deaths due to brain tumor in U.S. is 16,616. In addition, according to the Centre for Disease Control and Prevention (CDC), U.S. has the highest number of TBI cases.
Neurology ultrasonic aspirators are devices used for surgery to remove complicated or fragile objects, fluids or air from the cavities along with usage of ultrasonic tissues. The ultrasonic suction unit mainly consists of a container where a reversed air pressure causing vacuum to be produced by an air suction pump. A Handpiece is also used to remove tissue, liquid or air. The form of the hand piece may be linear or circular, varying in different sizes. Leading companies sell sophisticated ultrasonic aspirators which depends on the products, which can be controlled by three separate frequencies.
Neurology Ultrasonic Aspirators Market Scope and Market Size
Neurology Ultrasonic Aspirators Market has been segmented on the basis of product type, component type, and end-user.
- On the basis of product type, the neurology ultrasonic aspirators market is segmented into integrated, standalone. Integrated neurology is projected to be the fastest growing segment during the forecast period owing to the increasing incidence of brain tumor and disability caused by neurological diseases. It helps surgeons combine and aspirate soft tissues during complex cranial neurosurgery.
- Based on component type, Neurology Ultrasonic Aspirators Market is segmented into console/Generators, Consumables/Hand Instruments.
- Basis of end-user, the Neurology Ultrasonic Aspirators Market is segmented into Hospitals, Ambulatory Surgical Centers. Hospitals segment is leading the neurology ultrasonic aspirators market in the forecasted period due to increasing incidence of neurological diseases such as brain injury and TBI. In hospitals, there is a separate department of neurology known as the department of neurology and science. This department majorly concentrates on various diseases, abnormalities and dysfunction of brain, spine and nerves.
Country Level Analysis of Neurology Ultrasonic Aspirators Market
- On the basis of region, the Neurology Ultrasonic Aspirators Market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
- Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region.
- North America has dominated the market and is projected to see substantial growth in the future due to the increasing incidence of neurological diseases, knowledge of diagnosis, the proliferation of well-established healthcare facilities and the availability of highly qualified neurosurgeons. In fact, the industry is also projected to be powered by rapid growth of technologically advanced medical forms. In addition, increased incentives for advances in equipment and surgical procedures have a positive impact on regional development.
- Asia Pacific is expected to register the highest CAGR in the near future due to disease prevalence, increased government initiatives and various NGO awareness-raising programmes. The presence of a large number of key players in economies, such as China and Japan, is a major driver of growth. Rising in cases of brain tumor and TBI is yet another key driver of regional growth.
- The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
Key Developments in the Market:
- In April 2019, Stryker announced its new Sonopet iQ Ultrasonic Aspirator System at American association of neurological surgeons (AANS) annual meeting based in San Diego, CA. The new Sonopet iQ is a strongly aspiratory system that enables surgeons in intricating cranial neuro-surgeries, cervical, ear, nose and throat procedures to split, emulsify and aspire soft tissues and bones. With the launch of new device it has expanded the company product portfolio and increases its presence in ultrasonic aspirator market.
- In June 2019, Misonix, Inc. received FDA approval of neXus ultrasonic surgical aspirator system. This system is used to remove more targeted tissue for instance tumors, bone-sculpting tips among others. The FDA approval shows that the system is meant for flexible as well as rigid (i.e. bone) tissue fracturing, emulsification and aspiration. With this approval the company is able to sell its product in North America and hence increasing its presence.
Competitive Analysis and Neurology Ultrasonic Aspirators Market Share Analysis:
Neurology ultrasonic aspirators market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of neurology ultrasonic aspirators market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Neurology ultrasonic aspirators market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated, and global presence. Neurology ultrasonic aspirators market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Key Market Competitors:
Few of the major competitors currently working in the neurology ultrasonic aspirators market are Stryker, Cybersonics, Inc., META DYNAMIC, INC., XCELLANCE Medical Technologies, Olympus Corporation, Integra LifeSciences Corporation, Söring GmbH, Misonix, Innosurge, Biomedican, and many others.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key market players involved in this industry
- Detailed analysis of the market segmentation
- Competitive analysis of the key players involved