BURLINGTON, Mass., Aug. 6, 2015 /PRNewswire/ -- Decision Resources Group finds that the neurosurgery device market in the US will grow robustly over the next ten years, driven primarily by a strong reimbursement rate for neurosurgical procedures and the adoption of premium-priced devices. The introduction of novel technologies has invigorated this space by expanding the eligible patient population while moving the field toward less invasive procedures.

Other key findings from the Medtech 360 report covering the US neurosurgery device market:

  • Since neurosurgical procedures have a positive rate of reimbursement in the US, many hospitals are expanding their neurosurgery offerings, resulting in the formation of neurosurgery centers of excellence. These facilities attract top neurosurgeons and perform a large portion of the US neurosurgery procedures.
  • While smaller competitors in this space – such as Vycor and NICO – specialize in device innovation, the main competitors – including Medtronic, Codman & Shurtleff, and Integra LifeSciences – have broad portfolios of neurosurgical devices, including capital equipment, standard reusable surgical instrumentation, established devices, and novel innovative devices. Smaller competitors in this space specialize on innovative devices.
  • Growth of this market is mainly driven by innovation, even in the much more established segments like CSF management devices, where there is an increasing level of uptake of antimicrobial devices and more advanced neuromonitoring devices.

Comments from Decision Resources Group Senior Analyst Beata Blachuta, PhD:

  • "The neurosurgical device market will be boosted by numerous exciting new devices that expand our treatment capabilities and vastly improve on established techniques. For example, neurosurgical evacuation devices like Penumbra's Apollo and NICO's Myriad enable minimally invasive surgical removal of intracranial hemorrhage in a patient population historically associated with poor outcomes."
  • "Because the field of neurosurgery has traditionally advanced almost solely on the basis of improved surgical techniques using standard instrumentation, neurosurgeons are somewhat reluctant to adopt new technology compared to their counterparts in other specialties, making positive clinical data demonstrating device efficacy, favorable clinical outcomes, and health economic value essential to market growth."

For more information on purchasing this report, please email questions@dresourcesgroup.com.

About Decision Resources Group

Decision Resources Group offers best-in-class, high-value data, analytics and insights products and services to the healthcare industry, delivered by more than 700 employees across 15 global locations. DRG companies provide the pharmaceutical, biotech, medical device, financial services and payer industries with the tools, insights and advice they need to compete and thrive in an increasingly complex and value-based marketplace. DecisionResourcesGroup.com.

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SOURCE Decision Resources Group

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