According to a new market research report "Neuroendoscopy Marketby Product (Rigid (Videoscope, Fiberscope), Flexible endoscope), Usability (Reuse and Disposable), Application (Transnasal, Intraventricular, and Transcranial), Region (North America, Europe, Asia) - Global Forecast to 2022", published by MarketsandMarkets™, the global market is expected to reach USD 218.9 Million by 2022 from USD 170.5 Million in 2017, at a CAGR of 5.1%.
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The growth of the Neuroendoscopy Market is attributed to favorable government initiatives, rising prevalence of neurological disorders, and benefits of neuroendoscopic surgery over conventional brain surgery.
Rigid neuroendoscopes dominated the market in 2017.
Based on product, the Neuroendoscopy Market is segmented into rigid neuroendoscopes and flexible neuroendoscopes. The rigid neuroendoscopy segment is further classified into rigid videoscopes and rigid fiberscopes. In 2017, the rigid neuroendoscopes segment accounted for the largest share of the Neuroendoscopy Devices market. This large share can be attributed to their reduced size, affordable pricing, and shock resistance.
Based on application, the transcranial neuroendoscopy segment is projected to grow at the highest CAGR during the forecast period.
Based on application, the Neuroendoscopy Market is segmented into intraventricular neuroendoscopy, transcranial neuroendoscopy, and transnasal neuroendoscopy. The transcranial segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to their wide application in the diagnosis and treatment of larger tumors with significant suprasellar extension and growing incidence of brain tumors in the population.
North America dominated the Neuroendoscopy Market in 2017
In 2017, North America dominated the market followed by Europe. The large share of this geographical segment is attributed to favorable reimbursement scenario in the US, rising incidence of cancer, increasing investments by hospitals to purchase new neuroendoscopic equipment, increasing research activities, and implementation of a new funding model for Canadian hospitals.
The Neuroendoscopy Market includes various small and large players. Key players in this market are KARL STORZ (Germany), B.Braun Aesculap (Germany), Ackermann Instrumente (Germany), Adeor Medical (Germany), Hawk (China), Machida (Japan), Tonglu Wanhe Medical (China), Schindler (Germany), Clarus (US), LocaMed (UK), and Visionsense (US).
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