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Global Neuromicroscopy Market: Europe to Dominate the Market in Terms of Revenue, Observes TMR

Posted on Nov 30, 2017

Extensive research is being conducted on a large scale by various institutions to understand the complex nervous functioning. Meanwhile, the rise in the nervous system and genetic disorders are also driving the demand for advanced neuromicroscopy technology. Manufacturers are also focusing on developing high-end microscopes using latest technologies. Researchers are also focusing on new augmented microscopy technology to provide an electrically processed image using Near-Infrared Fluorescence to help surgeons operate with greater precision, thereby minimizing the risk. Moreover, the rise in the use of surgical microscopes in the recent years also presents an opportunity for manufacturers to develop and provide a highly-efficient product.

Key companies operating in the global neuromicroscopy market are GE Healthcare Inc., Carl Zeiss Meditec AG, Danaher Corporation, Siemens AG, Hitachi Ltd, Koninklijke Philips N.V., Haag-Streit AG, Pridex Medicare Pvt. Ltd., and Synaptive Medical Inc. Growing number of firms and increasing investment in research and development by the key players is leading to the intense competition. Hence, companies are focusing on developing new products in order to stay in the competition.

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Global Neuromicroscopy Market to Witness Steady Growth during the Forecast Period 2017-2026

According to the report by Transparency Market Research (TMR), the global neuromicroscopy market is expected to witness steady growth. The market is projected to register 5.5% CAGR during the forecast period 2017-2026. By the end of 2026, the global neuromicroscopy market is projected to reach US$ 99.7 million revenue.

The global neuromicroscopy market is segmented on the basis of product type, modality, and end user. On the basis of product type, the market segment consists of softwares, devices, and services. Among these, devices are expected to emerge as the most preferred product in the global neuromicroscopy market during the forecast period 2017-2026. Based on the modality, the market is segmented into portable devices and standalone devices. Standalone devices are expected to account for highest revenue share. In terms of the end-user, the segment consists of ambulatory surgical centers, hospitals, and specialty clinics. Hospitals are expected to emerge as one of the largest users in the global neuromicroscopy market during the forecast period 2017-2026.

Region-wise, the global neuromicroscopy market is segmented into Europe, North America, Asia Pacific Excluding Japan (APEJ), Japan, Latin America, and the Middle East and Africa (MEA). Among these, Europe is expected to dominate the global neuromicroscopy market throughout the forecast period 2017-2026. Increasing number of research projects being conducted by universities is driving the market growth. Increasing number of neuro and spine surgeries is also leading to the development of advanced surgical microscopes. This is also resulting in the market growth in the region.

Manufacturers Focusing on Developing Advanced Microscopes

Biomedical engineers and researchers are focusing on introducing new technologies in neuromicroscopy. Better imaging technology can make it easy for surgeons to conduct a successful surgery. For instance, advanced laser-based microscopic technology can help neurosurgeons to identify tumor tissue and help in resolving long-term issues in cancer surgery that needs faster and more effective method. Companies are also moving towards integrating virtual reality in microscope imaging system to help during neurosurgery. Improving conceptual understanding of complex neuro system, advanced neuroimaging technologies are also being developed. Manufacturers are developing new products and are also providing advanced 3D visualization technology to help surgeons plan and understand the surgical approach.

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