The global market for neurosurgical products is set to grow exponentially in the next seven years, according to a new report published by Persistence Market Research.
Here are six key trends:
1. The market is estimated to be valued at $3.7 billion by the end of 2015.
2. It is expected to grow at a compound annual growth rate of 11.2 percent.
3. By 2022, the market is expected to reach a value of $7.7 billion.
4. The growing geriatric population, rising incidence of brain tumors and increase in government funding are all contributing to the market's growth.
5. The North America market is growing at a significant rate due to increasing healthcare expenditure and increasing the prevalence of brain tumor in the region.
6. Integra LifeSciences, KARL STORZ, Medtronic, Stryker and Elekta are some of the major players in the neurosurgical products market.