Rising Developments of Nanorobots for Neurosurgery
The neurosurgical robotics market has the presence of many small and big companies. New component launch, regional expansion, product approval, and technological advancement are among the strategies adopted by companies to enlarge their market shares. Neurosurgical robots have become safer and more effective than ever with continuous innovations and technological advancements, boosting their acceptance among the masses. The active participation of market players in development activities, followed by increased product approvals by regulatory bodies, would offer lucrative opportunities for the growth of the neurosurgical robotics market in the coming years.
Market Overview
The South & Central America neurosurgical robotics market is segmented into Brazil, Argentina, and the Rest of South & Central America. The region held the smallest portion of the market in the global analysis. The neurosurgical robotics market in South & Central America is expected to grow owing to factors such as increasing adoption of robotics for neurosurgeries in the region, surge in various research activities in the region, growing geriatric population, and rising healthcare expenditure by the countries of the region. Brazil is the fifth largest country worldwide by area and population. Brazil has made huge strides in the healthcare sector owing to increasing healthcare expenditure. For instance, Brazil's healthcare spending per capita in the year 2017 was US$ 935, which is a 16.71% increase from the previous year's spending. Also, in 2018, the health expenditure share of GDP in Brazil was 9.5%, and it increased from 8.1% in 2004 to 9.5% in 2018 growing at an average annual rate of 1.18%. The growth in healthcare spending results in providing better care for patients in the country by launching awareness programs for disease treatment, and better treatment facilities, among others. It is experiencing the fastest demographic aging expected to serve wider growth opportunities for the neurosurgical robotics market. Thus, an increase in healthcare spending across the country is also expected to fuel the market growth during the forecast period.
South & Central America Neurosurgical Robotics Market Segmentation
The South & Central America neurosurgical robotics market is segmented into component, application, surgery type, end user, and country.
Based on component, the South & Central America 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. The South & Central America 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 likely to hold the largest share of the market, by application.
The South & Central America 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.
Based on end user, the South & Central America 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. Based on country, the market is segmented into Brazil, Argentina, and the Rest of South & Central America. Brazil dominated the market share in 2022. Accuray Incorporated; B. Braun Melsungen AG; Brainlab AG; Globus Medical, Inc.; Medtronic; Renishaw plc; NuVasive, Inc.; and Zimmer Biomet are among the leading companies operating in the neurosurgical robotics market in the region.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 122.23 Million |
| Market Size by 2028 | US$ 281.88 Million |
| CAGR (2022 - 2028) | 14.9% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
|
Regions and Countries Covered
|
|
| South and Central America | Brazil, Argentina, Rest of South and Central America |
| Market leaders and key company profiles |
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The South & Central America Neurosurgical Robotics Market is valued at US$ 122.23 Million in 2022, it is projected to reach US$ 281.88 Million by 2028.
As per our report South & Central America Neurosurgical Robotics Market, the market size is valued at US$ 122.23 Million in 2022, projecting it to reach US$ 281.88 Million by 2028. This translates to a CAGR of approximately 14.9% during the forecast period.
The South & Central America Neurosurgical Robotics Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the South & Central America Neurosurgical Robotics Market report:
The South & Central America Neurosurgical Robotics Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The South & Central America Neurosurgical Robotics Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the South & Central America Neurosurgical Robotics Market value chain can benefit from the information contained in a comprehensive market report.
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