Global Intracerebral Hemorrhage Surgical Devices Market Highlights over 2022-2030
The global intracerebral hemorrhage surgical devices market is estimated to garner significant revenue by growing at a robust CAGR over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the increasing incidences of spontaneous intracerebral hemorrhage, which is a deadly condition with high mortality and disability rate. It is caused by bleeding inside the brain parenchyma, and it is twice as common as intracerebral hemorrhage. Spontaneous intracerebral hemorrhage is responsible for over 15% of all types of strokes annually. Surgery is the only treatment for this condition, which is estimated to drive the growth of the market.
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The global intracerebral hemorrhage surgical devices market is segmented by surgery type into open craniotomy, decompressive craniectomy, neuro endoscopy, and others, out of which, the open craniotomy segment is anticipated to hold the notable share in the market during the forecast period as it is the most studied and performed surgery. Although open craniotomy has a lot of exposure to brain cells, benefits, such as, rapid recovery time and less tissue scarring, make it the most common surgery for intracerebral hemorrhage.
Major Macro-Economic Indicators Impacting the Market Growth
According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.
Global Intracerebral Hemorrhage Surgical Devices Market Regional Synopsis
Regionally, the global intracerebral hemorrhage surgical devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in North America region is estimated to garner largest share over the forecast period on the back of rising healthcare expenditure and investment in R&D activities, along with the presence of major market players in the region. Moreover, adoption of advanced health technology in the countries, such as, U.S. and Canada are estimated to further boost the market growth.
The market in the Asia Pacific region is estimated to witness highest CAGR over the forecast period owing to increasing geriatric population, advancing healthcare system, and rising individual disposable income is developing economies. According to the data by the World Bank, the population above 65 years of age in India crossed 90,719,952 in 2020, while, it crossed 167,808,567 in China. This is estimated to boost the market growth.
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The global intracerebral hemorrhage surgical devices market is further classified on the basis of region as follows:
- North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis
Market Segmentation
Our in-depth analysis of the global intracerebral hemorrhage surgical devices market includes the following segments:
By Surgery Type
- Open Craniotomy
- Decompressive Craniectomy
- Neuro endoscopy
- Others
By End-User
- Hospitals
- Ambulatory Surgical Centers
- Others
Growth Drivers
- Increasing Cases of Intracerebral Hemorrhage
- Growing R&D Activities in the Medical Field
Challenges
- Postsurgical Complications
- High Cost of Surgery
Top Featured Companies Dominating the Market
- Medtronic plc
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Stryker Corporation
- Abbott Laboratories
- General Electric Company
- Terumo Corporation
- Becton, Dickinson and Company
- Johnson & Johnson Services, Inc.
- Baxter International, Inc.
- Koninklijke Philips N.V.
- Siemens AG
