Neuroendoscopy Market: Key Growth Strategies Adopted by Leading Players Like KARL STORZ (Germany), B. Braun (Germany)

Illinois, United States, 2021-Jan-14 — /EPR Network/ — 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).

Agreements, collaborations, partnerships, and expansions are some of the major growth strategies followed by key players between 2015 and 2017.

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.

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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.

Estimated Market Growth:

The neuroendoscopy market is expected to reach USD 218.9 million by 2022 from USD 163.9 million in 2016, at a CAGR of 5.1% during the forecast period.

Major Growth Boosters:

Factors such as favorable government initiatives, rising prevalence of neurological disorders, and benefits of neuroendoscopic surgery over conventional brain surgery are driving the growth of this market. However, the high cost of neuroendoscopy procedures and equipment may hinder the growth of the market. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.

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Regional Growth Analysis:

The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). The dominance of the North American market is attributed to factors such as favorable government initiatives, rising prevalence of neurological disorders, increasing investments by hospitals to purchase new neuroendoscopy equipment, and increasing research activities.

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