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.
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.
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.
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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.