Neuroendoscopy Market Analysis

Neuroendoscopy Market Analysis

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Based on product, the market is segmented as rigid neuroendoscopes and flexible neuroendoscopes. The rigid neuroendoscopes is further bifurcated as rigid fiberscopes and rigid videoscopes. Rigid neuroendoscopes dominated the neuroendoscopy market in 2022 accounting for more than 66% of the total market share. These instruments enable direct visualization of the diseased area when passed through a natural orifice in the body. Some of the major benefits offered by rigid endoscopes include enhanced image quality, improved manoeuvrability, access to deep-seated regions and efficient irrigation and suction among others. Additionally, these products can accommodate various surgical instruments and offer more durability making them suitable for repeated use and sterilization.

Based on application, the market is segmented as transnasal neuroendoscopy, intraventricular neuroendoscopy and transcranial neuroendoscopy. The intraventricular neuroendoscopy accounted for major neuroendoscopy market revenue with over USD 73 million in 2022. This high market revenue is owing to increasing prevalence of neurological disorders, brain tumour and biopsy coupled with rising geriatric population among others. Intraventricular neuroendoscopy is a minimally invasive surgical procedure that involves using a small endoscope to visualize and treat various neurological conditions within the ventricles of the brain. Intraventricular tumours, such as colloid cysts or ependymomas, can be accessed and biopsied using neuroendoscopy. The neuroendoscope allows for a clear view of the tumour, aiding in accurate sampling for pathological analysis.

Based on usability, the neuroendoscopy market is segmented as reusable neuroendoscopes and disposable neuroendoscopes. The reusable neuroendoscopes segment held a dominant market revenue of USD 123 million in 2022. This high market share is owing to several clinical benefits offered by reusable neuroendoscopes in minimally invasive surgeries, diagnosis and treatment of several chronic ailments, etc. Increasing preference and demand of reusable neuroendoscopes over conventional instruments owing to low maintenance cost along with less time for decontamination will enhance the segmental growth. These instruments can be sterilized and used in multiple procedures, offer several benefits in clinical practice. Reusable neuroendoscopes are more cost effective and contribute to environmental sustainability by reducing medical waste. Therefore, easy availability and accessibility coupled increased demand for minimally invasive surgery has resulted in enhanced product.

Based on patient, the market is segmented as adult and pediatric. The adult segment held a dominant market share in 2022 and is forecasted to grow at 5.0% CAGR by 2032. Ageing population is one of the primary factors driving the neuroendoscopy market growth. Rising age related disorders among geriatric population further require endoscopy for disease diagnosis. Elderly individuals are more prone to suffer from one or multiple diseases thereby stimulating the demand for neuroendoscopy. For instance, according to the American Society of Clinical Oncology (ASCO), in 2020, around 308,102 adults were estimated to be diagnosed with brain tumour and is expected to increase in the near future. Hence, ageing population and passive life style will lead to increase in incidences of health disorders thereby, accelerating the demand for neuroendoscopes.

Based on end-use, the neuroendoscopy market is segmented as hospitals, ambulatory surgical centers, diagnostic centers, and others. The hospital segment held the highest industry share in 2022 and is projected to grow at 4.9% CAGR from 2023-2032. This high industry share is owing to the availability of advanced neuroendoscopy instruments for the diagnosis and treatment of varied chronic ailments. Enhanced operability and accessibility to comprehensive range of treatment is expected to drive the market growth. Presence of state-of-art facilities in the hospitals, insurance coverage to the patients, increasing number of neuro surgeries along with presence of skilled healthcare professionals will fuel the segment growth. Owing to these developments along with the rising number of diseases population, the demand for neuroendoscopy has significantly increased in hospitals.Thus, accessibility to better treatment & diagnosis coupled with the rising prevalence of chronic disorders will boost patient visits to hospitals, thereby propelling the segmental revenue.

U.S. Neuroendoscopy market is predicted to reach around USD 80.1 million by 2032. This market share is attributable to numerous variables including the presence of key market players, an increase in the number of neurological diseases, and rising awareness regarding the benefits offered by neuroendoscopy for diagnosis and treatment of these ailments among others. For instance, according to the Pan American Health Organization data, in 2020, around the mortality rate among individuals suffering from neurological condition in the U.S. was around 47.4 per 100,000 population and is expected to increase in the near future. The higher incidence of these diseases has resulted in the surged number of neuroendoscopy procedures that is anticipated to fuel the product adoption rate thereby, further accelerating the business growth.