According to a report published by Grand View Research, Inc.;
the Neuroendoscopy Devices Market is likely to reach a valuation of around USD
203.9 million by 2025.
Increasing cases of brain injuries and neural surgeries, and high
demand for minimally invasive surgeries can propel the market over the forecast
period (2014 to 2025). Additionally, increasing efforts from the government and
private institutions to support the acceptance of neuroendoscopy and growing investments
for research and development activities by the major players are expected to
create positive outlook for the market.
Full Research Report On Neuroendoscopy
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Conventional brain surgeries like craniotomy are mostly
invasive and complex which involves complete opening of skull. These surgical
procedures involve high risk of stroke or hemorrhage, deafness, blindness, and death
in several cases. These conditions can be avoided by adopting minimally
invasive procedures. Therefore, use of neuroendoscopy is increasing constantly.
These devises are extensively used in the treatment of intraventricular
hemorrhage and bleeding, hydrocephalus, and pituitary tumors. Thus, continuous
rise in cases of pituitary tumors and intraventricular hemorrhage are likely to
support the market growth in the coming years.
Worldwide neuroendoscopy devices market can be segmented on
the basis of devices type, surgery, type, application, and region.
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Based on devices type, the market can be classified into rigid
and flexible.
Rigid segment is expected to show high growth in the years to
come. Rigid neuroendoscopes are extensively used to treat disorders including hydrocephalus,
intraventricular tumors, and cystic lesions. As per Hydrocephalus Association
U.S., one to two of every 1000 babies born are diagnose with hydrocephalus. Therefore,
high prevalence of these disorders is expected to drive the segment growth. These
devices are available in light weight versions, therefore have high demand in interventricular
surgeries.
As per surgery type, the market can be bifurcated into intraventricular,
transcranial, and transnasal. In 2016, Intraventricular segment estimated for
the major revenue share owing to high prevalence of the intraventricular
hemorrhage and bleeding. The, transcranial surgery segment is likely to display
rapid growth during the forecast period due to technological developments and growing
cases of pituitary gland tumors. On the basis of application, the market can be
categorized into hospitals and medical research centers.
In 2016, the hospitals segment acquired the largest market
share and likely to continue this trend over the forecast period. Several
benefits offered by neuroendoscopy such as exact access at target site that is situated
in the interior parts of brain and minimal incision have forced hospitals to
adopt this procedure. Moreover, hospitals have reported the high number of neuro-endoscopic
procedures due to availability of established healthcare facilities in case of
emergencies and presence of skilled health care specialist and neurosurgeons.
Geographically, the market can be divided into North America,
Europe, Asia Pacific, Latin America, and MEA. North America is largest markets
followed by the Europe. In 2016, these regions collectively acquired the major
market share due to availability of advanced healthcare infrastructure and high
use of advanced techniques, which has lead to high adoption of neuroendoscopy. In
addition, technological developments in the healthcare and high prevalence of
pituitary tumors are supporting the market growth in these regions. The U.S is
considered as the major market for neuroendoscopy across the globe. Fast
recovery of patients operated with minimally invasive procedure offered by
these devices has increased the popularity of these devices in the country.
Asia Pacific market is expected to show rapid growth during
the forecast period due to presence of unexploited growth opportunities in the
region. Countries such as India, China and Japan have huge opportunities. Factors
such as enforced healthcare insurance, growing technological advancements, and growing
healthcare spending are expected to boost the market growth in this region.
Key companies operating in the market
include B. Braun Medical Inc.; Olympus Corporation; Stryker, Medtronic; and
Karl Storz. Major participants in the market are trying to strengthen their
position in the market by adopting strategies like mergers and acquisitions,
and strategic alliances.
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About Grand View Research
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based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
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