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%. The growth of this market is mainly driven by the favorable government initiatives, rising prevalence of neurological disorders, and benefits of neuroendoscopic surgery over conventional brain surgery.
Agreements, collaborations, partnerships, and expansions are some of the major growth strategies followed by key players between 2015 and 2017. 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. For example, in October 2017, the company partnered with the Ortega Clinic (Peru) to equip the hospital with an integrated KARL STORZ 3D operating room (OR) and accessories, this will help them to enhance their business in Peru. The company also invests in research and development activities to maintain its dominant position in the market by collaborating with research institutes
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.
Neuroendoscopy Market by Product (Rigid (Videoscope, Fiberscope), Flexible endoscope), Usability (Reuse and Disposable), Application (Transnasal, Intraventricular, and Transcranial), Region (North America, Europe, Asia) - Global Forecast to 2022
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