According to Market.us, global neuroendoscopy devices market size is projected to surpass around USD 326 million by 2032, and it is anticipated to registered a CAGR of 5.3% from 2023 to 2032. The Increasing Prevalence of Neurological Diseases, Together with the Rising Demand for Minimally Invasive Surgical Procedures, and the Higher Success Rate Associated with them, are Driving the Global Neuroendoscopy Devices Market.
New York, March 06, 2023 (GLOBE NEWSWIRE) — The global neuroendoscopy devices market size accounted for USD 197 million in 2022 and is expected to reach approximately USD 326 million in 2032, growing at a CAGR of slightly above 5.30% between 2023 and 2032. Global neuroendoscopy devices are minimally invasive medical instruments used to examine and treat diseases of the brain, spinal cord, head and neck regions. They consist of a light source, an endoscope, and additional tools such as forceps, scissors, and suction devices. They are used to perform endoscopic techniques such as biopsies, removal of tumors, and providing access to the central nervous system. Neuroendoscopic procedures are increasingly used in the diagnosis and treatment of many neurological diseases, such as hydrocephalus, pituitary tumors, and arteriovenous malformations. The devices are designed to minimize risk to the patient, minimize trauma to the tissue, and maximize visualization.
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- By Type, The Rigid Neuroendoscope segment is dominated the neuroendoscopy devices market throughout the forecast period (2023-2032).
- By Surgery, Transnasal Neuroendoscopy segment witness positive growth owing to increasing prevalence of brain tumors.
- By Usability, Reusable segment dominates the neuroendoscopy devices market during forecast period (2023-2032).
- By End-user, The Hospital segment held the majority of the market share in the neuroendoscopy devices market.
- In 2022, North America dominated the market with the highest revenue share of 38.5%.
- Europe is predicted to schedule substantial expansion during the forecast period due to an increase in the approval of cloud and voice recognition technologies in healthcare.
- Asia-Pacific region is expected to register the highest CAGR due to increased awareness of clinical documentation.
Neuroendoscopy market is currently at its developing stage of growth due to its complex growth. The slowdown in healthcare services and non-emergency procedures has significantly impacted some healthcare segments. While there have been declines in the healthcare sector in some markets, neuroendoscopy devices market has seen a moderate effect from the coronavirus pandemic.
Factors Affecting the Growth of the Neuroendoscopy Devices Market Industry?
There are several factors that can affect the growth of the global neuroendoscopy devices market. Some of these factors include:
- Increasing prevalence of neurological diseases: The increasing prevalence of neurological diseases such as stroke, Parkinson’s disease, Alzheimer’s disease, epilepsy, and brain tumors has increased the demand for neuroendoscopy devices.
- Rising geriatric population: The rising geriatric population, which is more prone to developing neurological diseases, is increasing the demand for neuroendoscopy devices.
- Technological advancements: Technological advancements in neuroendoscopy devices such as the development of high-definition endoscopes and robotic systems are also driving the growth of the market.
- Growing demand for minimally invasive surgeries: The increasing preference for minimally invasive surgeries over traditional open surgeries is driving the growth of the market.
- Favorable government initiatives and funding: Government across the globe are providing financial support to research and development activities related to the development of new and advanced neuroendoscopy devices. This is expected to drive the growth of the market.
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Top Trends in the Neuroendoscopy Devices Market
The growing preference for minimally invasive surgeries has led to the development of sophisticated neuroendoscopy technologies. Advancements in the field of endoscopy imaging and visualization systems have enabled surgeons to perform surgeries with greater accuracy and precision. The development of 3D endoscopy technologies and 4K ultra-high-definition monitors have further enhanced the visualization capabilities of neuroendoscopic surgeries. In addition, the advent of robotic-assisted endoscopy systems has paved the way for the automation of endoscopic procedures, resulting in improved patient outcomes. Furthermore, the introduction of intelligent navigation systems and augmented reality tools has enabled surgeons to perform complex surgeries with greater accuracy.
Increasing incidence of neurological disorders, technological advancements, and increasing number of minimally invasive surgeries are some of the major factors driving the growth of global neuroendoscopy devices market. In addition, the growing demand for endoscopy procedures and increasing adoption of neuroendoscopy devices in various surgical procedures are further propelling the growth of the global neuroendoscopy devices market.
Global neuroendoscopy devices market is segmented into regions such as North America, Estern Europe, Western Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America region leading the global neuroendoscopy devices market. However, the presence of a well-developed healthcare infrastructure, a high amount of research and development activities and the increasing number of patients suffering from neurological disorders. Europe is expected to be the second-largest market due to the presence of a well-developed healthcare sector and the availability of advanced technology. Asia Pacific is anticipated to be the fastest-growing region due to the increasing number of patients suffering from neurological disorders and the presence of a large population base. Latin America and Middle East and Africa are expected to witness a moderate growth rate during the forecast period.
Scope of the Report
|Market Value (2022)||USD 197 million|
|Market Size (2032)||USD 326 million|
|CAGR (from 2023 to 2032)||5.30%|
|North America Revenue Share||38.5%|
|Historic Period||2016 to 2022|
|Forecast Year||2023 to 2032|
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Driving factors of the global neuroendoscopy devices market include the increasing prevalence of neurological disorders, technological advancements in neuroendoscopy devices, growing preference for minimally invasive surgeries, and increasing awareness about neuroendoscopy treatments. The prevalence of neurological disorders, such as Alzheimer’s disease and Parkinson’s disease, is increasing globally, which is driving the demand for neuroendoscopy devices. Neuroendoscopy devices help diagnose and treat various brain and spine disorders, which are associated with neurological disorders. The increasing technological advancements in neuroendoscopy devices are also driving the market growth. These advancements help improve the accuracy of diagnosis and reduce the complexity of surgeries. In addition, the rising preference for minimally invasive surgeries is driving the market growth. Neuroendoscopy devices assist in performing minimally invasive surgeries. This helps reduce the risk of complications and trauma. Furthermore, increasing awareness about the benefits of neuroendoscopy is also driving the market growth. With the increasing awareness, patients are opting for neuroendoscopy treatments, which is contributing to the growth of the market.
Restraining factors for the global neuroendoscopy devices market include the high cost of the devices, the limited availability of skilled personnel, and the associated risks. The high cost of the devices is a major obstacle for the market since most of the neuroendoscopy devices are expensive and difficult to afford for a large population segment. The limited availability of skilled personnel is also a restraining factor since the procedure requires special expertise and skill. Moreover, the associated risks associated with the procedure such as infection and damage to the surrounding tissues is a major concern for market growth.
The global neuroendoscopy devices market is projected to grow during the forecast period due to increased brain tumor cases worldwide. Radiation exposure, and a family history of brain tumors are risk factors. However, the aging population, which is prostate to a neurological disorder, is predicted to contribute to the global neuroendoscopic device market growth. There is also growing awareness among the general public associability of effective treatment options for neurological treatments., thereby strengthening the market growth. The advancement in neuroendoscopy technology can cause a shift in the neuroendoscopy device market trends. The new surgeries were found to have the highest success rate.
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Report Segmentation of the Neuroendoscopy Devices Market
On the basis of type, the market is categorized into rigid neuroendoscope , flexible endoscopes, and other endoscopes. Rigid endoscopes are the most common type of neuroendoscopes used in diagnostic and therapeutic procedures. These endoscopes are generally used for procedures such as the removal of intraventricular tumors, cyst drainage, and third ventriculostomy. Flexible endoscopes are used for the treatment of deep-seated lesions, such as tumors in the third ventricle, fourth ventricle, and aqueduct. Other endoscopes, such as miniature endoscopes, are used extensively in pediatric neurosurgery.
The global neuroendoscopy devices market is segmented based on surgery type into intraventricular, transnasal, and transcranial. The transnasal neuroendoscopy segment is estimated to hold the dominat share in the market during the forecast period. Transnasal neuroendoscopy devices are used to diagnose and treat sinus, skull base, and pituitary gland conditions. These devices allow surgeons to access the nasal cavity and sinuses to remove tumors, repair structural defects, and remove obstructions. Intraventricular neuroendoscopy devices are used to diagnose and treat hydrocephalus and other conditions affecting the brain. These devices allow surgeons to access the brain’s ventricles and intraventricular spaces to remove tumors, repair structural defects, and remove obstructions. Transcranial neuroendoscopy devices are used to diagnose and treat conditions affecting the brain. These devices allow surgeons to access the brain through a small hole in the skull and remove tumors, repair structural defects, and remove obstructions.
The global neuroendoscopy devices market is segmented by usability into reusable and disposable. The reusable segment is estimated to dominate the market in terms of revenue in the forecast period. Reusable devices are those which are used multiple times in a single patient. They are easy to use and maintain and are more cost effective as compared to disposable devices. The reusable devices segment is expected to grow at a higher CAGR during the forecast period. On the other hand, the disposable segment is estimated to occupy a smaller market share in terms of revenue in the forecast period. Disposable devices are those which are used once and then discarded. They are more convenient and hygienic as compared to reusable devices.
The global neuroendoscopy devices market is segmented on the basis of end-user into hospitals, ambulatory surgical centers, research centers, and other end-users. The hospitals segment held the largest market share in 2022, and it is expected to remain dominant during the forecast period. This is attributed to the increasing number of patients undergoing neuroendoscopy procedures in hospitals, as well as the availability of specialized medical personnel and infrastructure. Furthermore, the increase in the number of hospitals and operating rooms dedicated to neuroendoscopy procedures is expected to boost the segment growth. The ambulatory surgical centers segment is expected to register the highest CAGR during the forecast period, owing to the increasing preference for ambulatory surgical centers for the treatment of neurological disorders.
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Based on Type
- Other Types
Based on Surgery
Based on Usability
Based on End-User
- Diagnostic Centre’s
- Ambulatory Surgical Centers
- Other End-Users
- The US
- The Czech Republic
- Rest of Eastern Europe
- The UK
- Rest of Western Europe
- South Korea
- Australia & New Zealand
- Rest of APAC
- Costa Rica
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- South Africa
- United Arab Emirates
- Rest of MEA
The competitive landscape of the market has also been examined in this report. Some of the major players include,
- Ackermann Instrumente GmbH
- Clarus Medical LLC
- Schindlerendoskopie technologie GmbH
- Braun Aesculap
- KARLSTORZSE & Co. KG
- Tonglu WANHE Medical Instrument
- Adeor medical AG
- Machida Endoscope
- Nevro Corporation
- Other Key Players
Recent Development of the Neuroendoscopy Devices Market
- In April 2021, Olympus Corporation launched a new 4K-capable neuroendoscope with a large-diameter optical system to provide improved visibility of anatomical structures during endoscopic procedures.
- In January 2021, KARL STORZ SE & Co. KG, a Germany-based company, partnered with Brainlab, a Germany-based company, to develop a robotic-assisted navigation system for improving the efficiency of neuroendoscopic procedures.
- In December 2020, Stryker Corporation, a US-based company, acquired K2M Group Holdings, a US-based company, to expand its product portfolio in the neuroendoscopy devices market.
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