A cranial perforator is used to create a hole at a right angle in the cranial bone of the skull during brain surgeries. Cranial perforators are available in different sizes and are reusable as well as disposable. Increase in the incidence of neurological disorders and surgeries have increased the usage of cranial perforators.
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Neurology devices have evolved over the years, owing to product enhancements and application of information, stereotactic, and sensing technologies in this sector. Industry players are investing heavily in R&D to introduce products that are both low cost and highly efficient.
The global cranial perforators market is primarily driven by an increase in the incidence of neurological disorders, increase in the geriatric population, rise in the number of stroke patients, and technological advancements in health care. Stroke is one of the leading causes of death in the U.S. and leads to the death of almost 130,000 Americans each year, thus translating to one of every 19 deaths in the country. According to the CDC, stroke claims one fatality every 40 seconds in the U.S.. Every year, about 795,000 people in the U.S. have a stroke. About 610,000 of these are first or new strokes, and 1, 85, 000 are recurrent strokes.
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This rise in the number of strokes has led to a significant burden on the U.S. health care system. It is estimated that strokes cost the nation approximately US$ 38.6 Bn each year. The U.S. currently accounts for a prominent share in the neurology devices industry. A rise in the number of stroke patients is expected to boost demand for neurological devices, thus propelling the growth of this industry. In addition, increase in the process of minimally invasive surgeries is expected to boost the cranial perforators market in the coming years.
Furthermore, existing market players are deploying advanced techniques and strategies to come up with novel ways for manufacturing technologically enhanced cranial perforators. This is likely to propel demand during the forecast period. However, frequent product recalls and stringent government regulations are expected to restrain the cranial perforators market during the forecast period.
The global cranial perforators market can be segmented based on drill size, type, end-user, and region. In terms of drill size, the cranial perforator market can be segmented into 11/7 mm, 13/9 mm, 14/11 mm, and others. Based on type, the market can be divided into manual and electric. In terms of end-user, the cranial perforators market can be classified into hospitals, clinics and others.
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In terms of region, the global cranial perforators market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a dominant share of the cranial perforators market in 2017, due to the high rate of adoption of cranial perforators in the region. According to the American Academy of Neurology, stroke occurs in over 780,000 people in the U.S. and is the third biggest killer and first cause of disability. It costs the U.S. health care system approximately US$ 50 Bn annually.
Approximately 70% of stroke patients are above 65 years of age. A rise in the geriatric population has resulted in an increase in the incidence of chronic neurological diseases such as Parkinson’s, Alzheimer’s, epilepsy, migraines, and chronic pain. These factors are likely to drive the market in North America. Asia Pacific and Latin America are expected to be highly lucrative regions of the cranial perforators market during the forecast period. The market in these regions is projected to expand rapidly during the forecast period, owing to large population base and increase in the number of hospitals.
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Key players operating in the global cranial perforators market include ACRA-CUT Inc., Nouvag, Toshbro Medicals, NSK, Adeor, Micromar, DePuy Synthes Companies, Kapalin Biosciences, evonos, and Bojin Electric Instrument & Device.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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