LONDON--(BUSINESS WIRE)--The global neurology endoscopy devices market is expected to grow at a CAGR of more than 7% during the forecast period, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the global neurology endoscopy devices market for 2017-2021. By product type, this market is segmented into neurology endoscopes and surgical instruments and accessories.
By end-users, the global neurology endoscopy devices market is segmented into hospitals and clinics, and ambulatory surgical centers. Hospitals and clinics comprise the larger segment, driven by the need to offer precise surgical treatments, improve brand image, and expand product reach.
Technavio’s research study segments the global neurology endoscopy devices market into the following regions:
- Americas
- EMEA
- APAC
Americas: largest neurology endoscopy devices market
“Manufacturers in the Americas are focusing on providing minimally invasive technologies for early diagnosis, detection, and effective treatment. Consumers in the market show a clear preference towards innovative, and cost-effective products that do not compromise on quality,” says Srinivas Sashidhar, one of the lead analysts at Technavio for orthopedics and medical devices research.
The US is the major revenue contributor in the Americas. The implementation of the Affordable Care Act has resulted in a marked increase in the adoption of neurology endoscopy devices in the US. The aim of the healthcare reform is to reduce the costs of treatment, increase access, and improve the quality of healthcare.
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EME: move towards early diagnosis driving market segment
The neurology endoscopy market in EMEA is dominated by Western European countries. The focus on increased precision in neurosurgery at lower costs is driving the market in the region. The move toward early diagnosis, detection, and effective treatment through minimally invasive methods will provide opportunities for endoscopy device manufacturers in this region.
France, one of the leading countries in the region, has developed ROSA, a multi-application robotic assistant that guides in neurosurgical applications. This robotic assistant guides doctors in Parkinson and Epilepsy treatments, tumor surgery, and endoscopy procedures.
APAC: fastest growing neurology endoscopy devices market segment
“APAC will be the fastest growing regional segment, growing at a CAGR of 8.9% over the forecast period. This quick growth will be driven by the increase in latent demand, especially in fast-growing economies such as China and India,” says Srinivas.
The region currently faces a lack of trained professionals, which is expected to be overcome during the forecast period. Currently, there is an increase in general awareness regarding neurological health, made possible by increasing investments in healthcare infrastructure and rise in disposable income, thereby driving market growth.
The top vendors in the global neurology endoscopy market highlighted in the report are:
- adeor medical
- Aesculap
- KARL STORZ
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Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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