The global neuroendoscopy devices market is expected to reach USD 218.9 million by 2022 from USD 170.5 million in 2017, at a CAGR of 5.1%. Factors such as favorable government initiatives, rising prevalence of neurological disorders, and benefits of neuroendoscopic surgeries over conventional brain surgeries are driving the growth of this market. On the other hand, the high cost of neuroendoscopy procedures and equipment may hinder the growth of the market.
The objectives of Neuroendoscopy Market Study is to define, describe, segment, and forecast the global neuroendoscopy market on the basis of product, application, usability, and region & o strategically analyze the neuroendoscopy market structure and profile key players of the global neuroendoscopy market and comprehensively analyze their core competencies.
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The neuroendoscopy devices market, by product, is segmented into rigid neuroendoscopes and flexible neuroendoscopes. In 2017, the rigid neuroendoscopes segment accounted for the largest share of the global neuroendoscopy devices market. This segment is also expected to grow at the highest CAGR during the forecast period. This large share and high growth can be attributed to the benefits of rigid neuroendoscopes such as superior optics, reusability due to autoclaving, and high device strength.
Based on application, the neuroendoscopy devices market is segmented into intraventricular neuroendoscopy, transcranial neuroendoscopy, and transnasal neuroendoscopy. The transcranial neuroendoscopy segment is expected to register the highest CAGR during the forecast period. The significant growth of this segment is owing to factors such as their wide application in the diagnosis and treatment of larger tumors with significant suprasellar extension and growing incidence of brain tumors.
Based on usability, the neuroendoscopy devices market is segmented into reusable and disposable neuroendoscopes. The reusable neuroendoscopes segment is expected to grow at the highest CAGR during the forecast period. This can be attributed to the cost-effectiveness of reusable devices as they can be used in multiple procedures after procurement.
Key players in the neuroendoscopy devices market include KARL STORZ GmbH & Co. KG (Germany), B. Braun Melsungen AG (Germany), Ackermann Instrumente GmbH (Germany), Adeor Medical AG (Germany), Hangzhou Hawk Optical Electronic Instruments co., Ltd. (China), and Machida Endoscope Co., Ltd. (Japan).
KARL STORZ (Germany) was the leading player in the global neuroendoscopy devices market in 2016. The company’s leading position is attributed to its high focus on innovation and strong brand image globally. Karl Storz also has a wide geographical presence as its products are marketed through a network of more than 50 subsidiaries in 40 countries and distribution agents across Europe, the Americas, Africa, and Asia Pacific. The company focuses on collaborations and partnerships to increase its market presence.
B.Braun (Germany) was the second largest player in the neuroendoscopy devices market in 2016. This large market share is attributed to the company’s strong brand portfolio and vast geographical presence. The company also has high brand loyalty and brand awareness globally. Some of the high-selling products offered by the company include Minop, Minop InVent, Paediscope, and Minop Team. The company focuses on expansion for its growth in developing markets. For example, in November 2017, the company opened a subsidiary in Zambia. This will help the company to expand its presence in the African region.
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