PUBLISHER: Grand View Research | PRODUCT CODE: 1633774
PUBLISHER: Grand View Research | PRODUCT CODE: 1633774
The global neurosurgical instruments market size is anticipated to reach USD 2.62 billion by 2030 and is projected to grow at a CAGR of 7.0% from 2025 - 2030, according to a new report by Grand View Research, Inc. The market's growth can be attributed to factors such as the rising prevalence of neurological disorders, increasing technological advancements, increasing government initiatives, developing healthcare infrastructure, and the growing geriatric population.
The market growth is fueled by advancements in neurosurgical techniques and the rising prevalence of neurological disorders. Conditions such as brain tumors, traumatic brain injuries, and spinal cord injuries require precision tools to ensure patient safety and enhanced outcomes. For instance, according to the American Cancer Society, around 25,400 cases of malignant tumors of the brain or spinal cord were estimated to be diagnosed in 2023. Moreover, brain and spinal cord tumors were estimated to cause around 18,760 mortalities in the country in 2023. This rising prevalence of neurological conditions requires advanced instruments to enhance treatment outcomes, which is expected to fuel the market growth over the forecast period.
Another significant driver is the rise in aging populations worldwide. Age-related neurological conditions such as Parkinson's disease, Alzheimer's, and chronic back pain are on the rise, requiring surgical interventions. According to the United Nations Population Fund, between 1974 and 2024, the global proportion of individuals aged 65 and older nearly doubled, increasing from 5.5% to 10.3%. Projections indicate that from 2024 to 2074, this percentage will double once more, reaching 20.7%. Moreover, during this period, the population of those aged 80 and above is expected to be more than triple. This rising prevalence of neurological disorders and the aging population has increased the demand for neurosurgical instruments used in various neurosurgical procedures. Furthermore, the increasing number of trauma cases and the growing awareness of advanced surgical options have led healthcare facilities to invest in high-quality instruments, further contributing to market growth.
The rising initiatives by various organizations to increase awareness about neurological conditions and improve access to related treatments are also contributing to the market growth. For instance, in May 2022, the WHO announced the adoption of the Intersectoral Global Action Plan on Epilepsy and Other Neurological Disorders (2022-2031) plan to enhance treatment access and improve the quality of life and access to treatment for individuals with neurological disorders. It outlines strategic objectives addressing governance, diagnosis, prevention, research, and public health responses to epilepsy and related conditions. Similarly, in February 2021, the World Federation of Neurology introduced the Brain Health Initiative, a global campaign aimed at promoting brain health awareness. This initiative provides free resources on brain health topics and aims to reduce the burden of brain diseases.
Neurosurgical Instruments Market Highlights