Neuroendoscopy Market Overview
The Global Neuroendoscopy Market 2020 is poised to mature at an approximate CAGR of 5.2% during the forecast period.
Neuroendoscopy Market Highlights
Since neuroendoscopy is considered to be the gold standard for the detection and treatment of brain cancer, the rising incidence of neurological diseases and the resulting rise in the number of neurosurgical procedures are likely to help the growth of the demand for neuroendoscopy in the coming years. A significant cause of demand growth is the growing incidence of brain tumours. In addition, it is projected that rising demand for minimally invasive surgical procedures, a growing geriatric population and attractive reimbursement policies would fuel the industry over the forecast period. During the care of diseases such as pituitary tumours, hydrocephalus, intraventricular haemorrhage & bleeding, these instruments are often mainly utilised. As a consequence, the constant increase in pituitary tumour occurrence and intraventricular haemorrhage is driving market growth.
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Conventional brain surgical operations such as craniotomy, involving the full opening of the skull, are complicated and invasive. These operations have a high chance of stroke or bleeding, blindness , deafness, and death in some cases. The risk of contracting the above conditions is reduced by minimally invasive procedures. Neuroendoscopy is also a minimally invasive procedure, and the market for it is continuously growing.
However, during the forecast era, a lack of doctors and high prices for neuroendoscopy procedures and supplies are expected to hold back market expansion.
Neuroendoscopy Market Segmentation
The global market for Neuroendoscopy is segmented on a device, application, usability and end-user basis.
The market is segmented into rigid neuroendoscopes and flexible neuroendoscopes, on the basis of products. The portion of rigid neuroendoscopes is sub-segmented into rigid fiberscopes and rigid camera scopes. The market is classified, on the basis of use, into transnasal neuroendoscopy, intraventricular neuroendoscopy and transcranial neuroendoscopy. The industry is segmented, on the basis of usability, into reusable neuroendoscopes and disposable neuroendoscopes. The industry is segmented into hospitals , laboratories, medical research centres, and others, depending on end-users.
Neuroendoscopy Market Regional Analysis
The worldwide neuroendoscopy market dominates the Americas. The growth of the market within the region is propelled by factors such as the growing incidence of brain tumours, the presence of a well-developed healthcare industry, and tremendous healthcare spending within the region. In addition, the presence within the area of key players such as Stryker and Medtronic, among others, and the increasing geriatric population drive market growth.
In the global neuroendoscopy industry, Europe ranks second, owing to the growing need for minimally invasive procedures, the increasing availability of research and development funds, and the large population of patients.
Asia Pacific, led by Europe, is seventh in the overall market for neuroendoscopy. In addition, in the global economy, the region is expected to be the fastest developing region. This can be due to the involvement of emerging economies like China, the increasing population of patients, the expansion of the healthcare industry, and the rise in healthcare spending per capita. In addition, supportive government policies promote the development of the market. It is projected that medical tourism and the growing geriatric population will drive the growth of the industry.
Due to the prevalence of developing economies, rigorous government policies, lack of knowledge, low per capita income, and weak availability of health facilities , especially within the African region, the Middle East and Africa hold the least share in the global market for neuroendoscopy. Due to the existence of a well-developed healthcare industry and big healthcare spending, the Middle East holds a majority of the neuroendoscopy market within the country.
Neuroendoscopy Market Competitive Dashboard
The major players in the global neuroendoscopy market are B. Braun (Germany), KARL STORZ (Germany), Ackermann Instrumente (Germany), Hangzhou Hawk Optical Electronic Instruments (China), Adeor Medical (Germany), Machida Endoscope (Japan), Tonglu Wanhe Medical Instrument (China), Clarus Medical (U.S.), Schindler Endoskopie (Germany), LocaMed (U.K), Visionsense Corporation (U.S.), Olympus Corporation (Japan), Stryker (U.S.), Zeiss International (Germany), Medtronic (U.S.), and others.
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