Driven by an established public healthcare system and increase in the incidence of intracranial hemorrhage, and brain tumors, South Korea will become the fastest growing minimally invasive neurosurgery market in the Asia-Pacific (APAC) region. Consequently, it is expected to grow at a compound annual growth rate of 5.6% between 2021 and 2030, according to GlobalData, a leading data and analytics company.

GlobalData’s latest report, ‘Minimally Invasive Neurosurgical Devices (Neurology Devices) – Global Market Analysis and Forecast Model (COVID-19 Market Impact)’, reveals that Vycor Medical Inc and Penumbra Inc were the major players in the South Korean minimally invasive neurosurgical devices market, together accounting for more than 47% of the market in 2021.

Anusha Kaushik, Medical Devices Analyst at GlobalData, comments: “Currently, the ultrasonic aspiration system is the standard method of care in minimally invasive techniques as it is an established and safe method with application in numerous tissues. In South Korea, ultrasonic aspiration systems were used in around 60% of intracranial hemorrhage and 100% of brain tumor cases treated using minimally invasive neurosurgical devices in 2021.”

There is a huge opportunity in this space as there are very few minimally invasive neurosurgical devices available currently in the market to treat intracranial hemorrhage and brain tumors. The usage of aspiration irrigation systems and side-cutting aspiration systems is expected to increase with technological advancements and positive results from trials.

Kaushik concludes: “Though current guidelines do not recommend minimally invasive surgery as a standard procedure to treat intracranial hemorrhage, superior features such as faster surgery time and positive clinical trials highlighting the safety are expected to increase the adoption of minimally invasive surgery devices in the future. However, if the ongoing clinical trials do not adequately demonstrate the superiority of these devices, market growth may be hindered.”