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Japanese market expected to bounce back after pandemic

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GlobalData, a leading data and analytics company, thinks the market will bounce back from the pandemic

Minimally invasive neurosurgical procedures in Japan have been either delayed or deferred due to the ongoing COVID-19 pandemic.

However, the market is expected to rebound and grow at a compound annual growth rate (CAGR) of 7% over the next 5 years as the government has eased down lockdown measures and some of the elective procedures have been resumed, according to GlobalData, a leading data and analytics company.

GlobalData’s report, ‘Minimally Invasive Neurosurgical Devices (Neurology Devices) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that Japan’s minimally invasive neurosurgical devices accounted for 33% of the Asia-Pacific market in 2020. They are expected to grow in the next five years driven by the growing incidence of stroke, intracerebral haemorrhage and technological advancements in diagnostics. 

Penumbra Inc, Integra Life Sciences Holdings Corp, and Stryker Corp are the leading players in the Japan, together accounting for 60% of the market in 2020. 

Anusha Kaushik, Medical Devices Analyst at GlobalData, said: “Neurological procedures have been strongly impacted by COVID-19 over the past one year. With easing of lockdown measures, elective neurosurgical procedures are expected to resume at a higher rate. In addition, the availability of COVID-19 vaccine is expected to lead to further growth in the elective neurosurgical procedure volumes. ” 

Minimally invasive neurosurgical procedures are being preferred over open surgeries due to favorable factors such as less exposure to brain structures, rapid recovery time and less tissue scarring. 

Ms Kaushik said: “As more clinical trial results are released confirming the benefits of minimally invasive neurosurgery, GlobalData predicts that their use will become more standard, as more guidelines are built and more specialists become comfortable with the technique.”

According to GlobalData, the aspiration irrigation system disposable handpieces accounted for about 80% of the minimally invasive neurosurgical devices market in Japan in 2020.

Ms Kaushik added: “The aspiration irrigation system has numerous applications in brain tumor surgeries, arteriovenous malformations (AVMs) and intercerebral hemorrhage, and is expected to drive the growth of the minimally invasive neurosurgical devices market in the next five years.”

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  1. Pingback: Sales of cardiac devices fall victim to global pandemic in the US

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