At 15.8% CAGR, the Europe Neurosurgical Robotics Market is projected to be worth US$ 1,101.85 Million by 2028, says Business Market Insights

According to Business Market Insights’ research, the Europe neurosurgical robotics market was valued at US$ 457.51 million in 2022 and is expected to reach US$ 1,101.85 million by 2028, registering an annual growth rate of 15.8% from 2022 to 2028. Rising number of product developments and approvals including rising nanorobots technology are the critical factors attributed to the market expansion.

Nanorobots are directed by different forms of energy. They can obtain cellular tissue biopsies and navigate the entire human body, since they can pass through vascular capillaries and work at the cellular level. Based on several studies, nanorobots can be used to detect and treat many neurological diseases, including Alzheimer's, Parkinson's, and cancer, due to their unique physical chemical and mechanical properties. These robots can also respond to micro ambience changes, such as pH differences, temperature changes, and local enzymes activities.

On the contrary, high installation costs of neurosurgical robotics hurdles the growth of Europe neurosurgical robotics market.

• Based on component, the Europe neurosurgical robotics market is segmented into equipment/system, accessories, and services. The equipment/system segment is further segmented into robot machines, navigation system, planner & simulators, and others. The accessories segment is anticipated to hold the largest share of the market in 2022 with a share of 47.1%, amassing US$ 215.60 million. It is projected to garner US$ 515.27 million by 2028 to expand at 15.6% CAGR during 2022–2028.

The Europe neurosurgical robotics market, based on application, is segmented into spinal and cranial. Spinal application is further segmented into spinal fusion, laminectomy, disc replacement, discectomy, foraminotomy, and others. The cranial segment is also subsegmented into brain biopsy, thermal ablation of seizure, surgical treatment of movement disorders, and others. In 2022, the spinal segment is anticipated to hold the largest share of the market, with a share of 62.5%, amassing US$ 286.08 million. It is projected to garner US$ 704.42 million by 2028 to expand at 17.2% CAGR during 2022–2028.

The Europe neurosurgical robotics market, based on surgery type, is segmented into open and minimally invasive. In 2022, the minimally invasive segment is anticipated to hold a larger share of the market in 2022 with a share of 81.6%, amassing US$ 373.42 million. It is projected to garner US$ 947.72 million by 2028 to expand at 16.8% CAGR during 2022–2028.

• Based on end user, the Europe neurosurgical robotics market is segmented into hospitals, specialty centers, and others. In 2022, the hospitals segment is anticipated to hold the largest share of the market with a share of 65.2%, amassing US$ 298.48 million. It is projected to garner US$ 706.88 million by 2028 to expand at 15.5% CAGR during 2022–2028.

Our regional analysis states that the Rest of Europe captured 22.2% market share in 2022. It was assessed at US$ 101.49 million in 2022 and is likely to hit US$ 242.14 million by 2028, exhibiting a CAGR of 15.6% during the forecast period.

Key players dominating the Europe neurosurgical robotics market are Accuray Incorporated; B. Braun Melsungen AG; Brainlab AG; Globus Medical, Inc.; Medtronic; Renishaw plc; and Zimmer Biomet among others.

Below are listed a few recent key developments by major market players:

• In April 2022, Medtronic announced a partnership to interface Surgical Theater's SyncAR augmented reality (AR) technology with Medtronic's StealthStation S8 surgical navigation system.
• In Nov 2020, Medtronic announced that it had completed its friendly tender offer for France-based Medicrea International

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