Press release
Neuromicroscopy Market Is Estimated to Increase to 5.5% CAGR During 2017-2026
Companies are integrating latest technologies to provide devices at affordable cost. Moreover, increase in the number of neurosurgeries, the rise in the customized microscopy solutions and the increase in funds by government in various countries for healthcare sector are also contributing towards the growth of the global market for neuromicroscopy. Manufacturers are also designing new neurosurgical microscopes with video technology, thereby providing an option to view and record procedures. High-resolution images along with the high-speed autofocus are also being provided by manufacturers. Meanwhile, integration of Virtual Reality (VR) technology in microscope imaging system is also gaining traction in the global market for neuromicroscopy. Also, the rise in geriatric population is fueling the demand for better treatment.
However, increased cost of advanced microscopes and heavy custom and excise duty imposed by government in various countries are negatively impacting the growth of the market.
As per the latest study by Transparency Market Research (TMR), the global market for neuromicroscopy is anticipated to experience steady growth. The market is estimated to increase to 5.5% CAGR during 2017-2026, reaching US$ 99.7 million revenue towards 2026 end.
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Devices- Top-Selling Product
Devices are likely to be one of the top-selling products in the global market for neuromicroscopy. By 2026 end, devices are estimated to reach nearly US$ 80 million revenue. Meanwhile, softwares are also anticipated to witness strong growth during 2017-2026. With the rise in the various neurological disorders, manufacturers are producing advanced devices that can help in diagnoses as well as assist in surgical procedures.
Hospitals to Emerge as the Largest End Users in the Global Market for Neuromicroscopy
Compared to the various end users, hospitals are likely to gain more than half of the revenue share towards 2017 end. Hospitals are estimated to reach nearly US$ 60 million revenue towards 2026 end. Meanwhile, specialty clinics are also likely to witness growth between 2017 and 2026.
Standalone Devices to Gain Maximum Revenue Share
Standalone devices are likely to account for more than half of the revenue share by 2017 end. Standalone devices are also estimated to exceed US$ 70 million revenue by 2026 end.
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Europe to Remain Dominant in the Global Neuromicroscopy Market during 2017-2026
Europe is anticipated to emerge as the most attractive region in the global market for neuromicroscopy. The region is also likely to witness robust growth between 2017 and 2026. Medical tourism initiatives are being taken up, especially to treat critical diseases such as cancer. Moreover, various universities and institutions in the region are also conducting research in the field of neuroscience to come up with the devices that can help in the treatment of various neurological disorders.
On the other hand, North America is also anticipated to witness growth in the neuromicroscopy market between 2017 and 2026. Government is taking an initiative to support on-going research in the field of neuroscience and also the presence of major market players are some of the factors driving the growth of neuromicroscopy market. Asia Pacific Excluding Japan (APEJ) also presents an opportunity for market players, owing to the increase in healthcare expenditure in countries such as India and China.
Report Overview @ http://globenewswire.com/news-release/2017/12/04/1219718/0/en/Neuromicroscopy-Market-Value-to-Reach-US-99-7-million-by-the-End-of-2026-Transparency-Market-Research.html
Competition Tracking
Major participants in the global market for neuromicroscopy market include Hitachi Ltd, GE Healthcare Inc., Siemens AG, Carl Zeiss Meditec AG, Koninklijke Philips N.V., Danaher Corporation, Pridex Medicare Pvt. Ltd., Synaptive Medical Inc., and Haag-Streit AG. Major market players are trying to gain competitive advantage by focusing on innovative technologies.
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
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