Endoscope is a medical device in which a small telescope-like instrument is equipped with high resolution video camera that allows the surgeon to navigate and access tumor. Endoscopy devices are utilized for the diagnosis of almost all kind of cancer. Neuroendoscopy is a minimally invasive procedure in which removal of tumor takes place through small hole in the skull or through nose. Neuroendoscopy is mostly preferred over traditional surgery due to the fact that it enables access in most parts of brain that cannot be done with traditional surgery. Moreover, it is able to remove the tumor without cutting or harming the other parts of skull. Some of the advantages of neuroendoscopy over tradition surgery include less pain than traditional surgery, minimal scarring and faster recovery than traditional surgery. Neuroendoscopy is widely utilized for the treatment of brain tumor that includes acoustic neuromas, skull base tumors, pituitary tumors and metastatic brain tumors.
The global market for neuroendoscopy devices can be segmented as follows:
- By surgery type
- Intra ventricular neuroendoscopy
- Transcranial neuroendoscopy
- Transnasal neuroendoscopy
Intra ventricular neurosurgery is considered as the most promising segment in the global neuroendoscopy devices market. Currently, intra ventricular neuroendoscopy devices market constitutes the largest market share and highest CAGR among all the above mentioned segments. This dominance is witnessed due to large number of neurosurgical procedures performed with these devices, which consequently increases the demand of the devices globally.
With growing number of people undergoing neuroendoscopy procedures the demand of neuroendoscopy devices is also increasing significantly. Moreover, technological advancement in neuroendoscopy devices will further accentuate the global neuroendoscopy devices market. Introduction of innovative devices such as HD camera and sophisticated instrument have triggered the demand for advanced endoscopy devices and this will continue in future. Safety and efficacy during surgery is also a significant market deriving factor associated with neuroendoscopy devices is acknowledged worldwide. Moreover, due to extensive advancement of neuroendoscopy assisted minimally invasive surgical procedure the global market of neuroendoscopy devices witnessing a significant growth. In addition, increasing prevalence of brain tumor also derives the demand of neuroendoscopy devices in the global market. Moreover, high cost associated with neuroendoscopy devices could pose a threat for the growth of the global endoscopy devices market.
North America and Europe contributed the largest market share in the global endoscopy devices market due to extensive technological advancement in neuroendoscopy devices in these regions. Moreover, strong demand of diagnostic tests accentuates the market growth in North American and European regions. Government initiatives are further expected to accentuate the market growth in these regions. Presently, Asia-Pacific and RoW are considered as untapped market due to lack of proper diagnostic facilities in some remote areas of Asian and African countries. However, Asia-Pacific is considered as an emerging market (forecast period) due to strong economic growth forecasted in some countries such as India, China, Japan and Malaysia which would increase the market share of neuroendoscopy devices in this region.
Some of the major market players contributing in the global market share of neuroendoscopy devices include Boston Scientific Corporation, Fujifilm Holding Corporation, Hoya Corporation, Olympus Corporation, Boston Scientific Corporation, Karl Storz GMBH & CO. KG, Johnson & Johnson, Given Imaging Inc., Cook Medical Incorporated, Conmed Corporation, C.R. Bard Inc., Arthrex Inc., Aesculap Inc., Accellent Inc.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.