Neuroendoscopy Market Revenue, Forecast, Competitive Landscape, Growth Factors, and Trends, by Product (Rigid, Flexible Neuroendoscopes), by Application (Transnasal, Intraventricular, Transcranial Neuroendoscopy), by Usability (Reusable, Disposable), End-User (Hospitals)
The increasing prevalence of brain tumors, increasing demand for minimally invasive surgical procedures, growing geriatric population, and favorable reimbursement policies are estimated to drive the global neuroendoscopy market, during the forecast period. However, a dearth of physicians and the high cost of neuroendoscopy procedures and equipment are projected to restrain the market growth during the forecast period.
Global Neuroendoscopy Market is expected to grow at an approximate CAGR of 5.2% during forecast period.
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The global neuroendoscopy market is segmented on the basis of product, application, usability, and end-user.
On the basis of product, the market is segmented into rigid neuroendoscopes and flexible neuroendoscopes. The rigid neuroendoscopes segment is sub-segmented into rigid video scopes and rigid fiberscopes. On the basis of application, the market is categorized into transnasal neuroendoscopy, intraventricular neuroendoscopy, and transcranial neuro-endoscopy. On the basis of usability, the market is segmented into reusable neuroendoscopes and disposable neuroendoscopes. On the basis of end-users, the market is segmented into hospitals, clinics, medical research centers, and others.
The Americas dominates the global neuroendoscopy market owing to the increasing prevalence of brain tumors, rising demand for minimally invasive therapeutic procedures, the presence of a well-developed healthcare sector, growing geriatric population, and huge health care expenditures. Moreover, the presence of key players such as Stryker and Medtronic, besides others boost the market growth. Europe is second in the global neuroendoscopy market. This can be due to the increasing demand for minimally invasive surgeries, rising availability of funds for research and development, and a huge patient population. Asia Pacific stands third in the global neuroendoscopy market. Asia Pacific is projected to be the fastest growing region in the global market owing to the presence of developing economies, growing patient population, developing healthcare sector, and increasing per capita healthcare expenditures. Additionally, favorable government policies support the market growth. The Middle East and Africa holds the least share in the market due to the presence of poor economies, stringent government policies, lack of awareness, low per capita income and poor availability of the healthcare services, especially within the African region. The Middle East holds a majority of the market within the Middle East and Africa due to the presence of a well-developed healthcare sector and huge healthcare expenditure.
The key players for the global neuroendoscopy market are KARL STORZ (Germany), B. Braun (Germany), Ackermann Instrumente (Germany), Adeor Medical (Germany), Hangzhou Hawk Optical Electronic Instruments (China), Machida Endoscope (Japan), Tonglu Wanhe Medical Instrument (China), Schindler Endoskopie (Germany), Clarus Medical (U.S.), LocaMed (U.K), Visionsense Corporation (U.S.), Olympus Corporation (Japan), Zeiss International (Germany), Stryker (U.S.), Medtronic (U.S.), and others.
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