Neuroendoscopy Market Size to exceed $250mn by 2025

Neuroendoscopy Market size is set to exceed USD 250 million by 2025; according to a new research report by Global Market Insights Inc.
 

Increasing government programs coupled with investment in R&D activities for developing minimally invasive procedures will augment the market growth.
 

Increasing number of brain tumor cases globally will augment the market growth

Neuroendoscopy is an important minimally invasive technique in neurosurgery and has evolved to play a role in both the diagnosis and treatment of a variety of disorders. The growing number of brain tumor cases across the globe will augment the demand and adoption rate of neuroendoscopy surgical procedures thereby, fueling the market opportunities in the near future. Several risk factors such as exposure to radiation and family history of brain tumors have surged the risk of a brain tumor globally. Moreover, according to the data published by National Cancer Institute, in 2016, around 165,813 individuals were suffering from brain and other nervous system-related cancer in the U.S. Hence, rising brain and central nervous system cancer cases will render a positive impact on the neuroendoscopy market growth.
 

Furthermore, increasing use of minimally invasive instruments such as neuroendoscopes has allowed surgeons to reduce morbidity by reducing the need for large surgical incisions. Moreover, patients with brain disorders usually opt for minimally invasive techniques owing to advantages such as less pain, reduced cost of the procedure, and improved recovery time. Hence, the above-mentioned factors will play a vital role in augmenting the neuroendoscopy market demand.
 

Rigid neuroendoscopes dominated the industry in 2018 and will continue to do so throughout the forecast timeframe

Based on product, the neuroendoscopy market is segmented into rigid and flexible neuroendoscopes. The rigid neuroendoscopes segment market size was valued more than USD 120 million in 2018 and will witness a momentous growth over the coming years. Rigid neuroendoscopes are instruments that are used during the neuroendoscopy procedures to examine the internal body organs with the help of a tubular telescope. Rigid neuroendoscope is inserted through a small incision in the nose, skull, or roof of the mouth to enable direct visualization of the diseased area. The rigid neuroendoscope also contains ports and channels through which surgeons can insert and maneuver endoscopic instruments. In addition, recent technological advancements and increasing application of rigid neuroendoscopes in intraventricular neuroendoscopy will enhance the market growth. Hence, the above-mentioned factors will render a significant positive impact on the market size.
 

Browse key industry insights spread across 222 pages with 535 market data tables & 20 figures & charts from the report, “Neuroendoscopy Market Size By Product (Rigid Neuroendoscopes {Rigid Fiberscopes, Rigid Videoscopes}, Flexible Neuroendoscopes), By Application (Transnasal Neuroendoscopy, Intraventricular Neuroendoscopy, Transcranial Neuroendoscopy), By Usability (Reusable Neuroendoscopes, Disposable Neuroendoscopes), By Patient (Adult, Pediatric), By End-use (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers),  Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Spain, Russia, Poland, The Netherlands, Switzerland, Norway, Sweden, Belgium, Hungary, Denmark, China, Japan, India, Australia, South Korea, Taiwan, Brazil, Mexico, Argentina, Peru, Chile, Colombia, South Africa, Saudi Arabia, UAE, Turkey, Kuwait, Qatar, Iran), Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/neuroendoscopy-market
 

Enhancements in imaging and diagnostics with the help of neuroendoscopes will drive the industry growth

Based on application, neuroendoscopy market include transnasal, intraventricular, and transcranial neuroendoscopy. The transcranial neuroendoscopy segment of the market is projected to witness over 5% CAGR during the forecast timeframe. Micro neurosurgical instruments are used during transcranial neuroendoscopy procedure for visualization of structures and ventricles within the brain. Also, improvements in preoperative imaging allow neurosurgeons to plan and treat more complex cases through less invasive approaches. Hence, increase in applications of transcranial neuroendoscopy surgical procedure will augment the business growth.
 

Benefits offered by reusable neuroendoscopes over disposable neuroendoscopes will foster the segment growth

Based on usability, the market size is bifurcated into reusable neuroendoscopes and disposable neuroendoscopes. The reusable neuroendoscopes segment was valued around USD 160 million in 2018. Benefits associated with reusable neuroendoscopes such as cost-effectiveness, usability in multiple procedures, and user-friendly devices will increase the device sale. Furthermore, the growing preference of reusable neuroendoscopes over conventional instruments owing to less time for decontamination along with low maintenance cost will further drive the segmental growth.
 

Presence of qualified pediatric neurosurgeons in developed economies proves beneficial for the segmental growth

Based on patient, the market size is segmented into adult and pediatric. The pediatric segment is estimated to hold over 15% market share in 2018. The increasing number of tumor cases in children will accelerate segmental growth. Moreover, medulloblastomas, ependymomas, astrocytomas, and brainstem gliomas are few of the common tumor types occurring among pediatric population that will augment the overall segmental growth. Also, the presence of qualified pediatric neurosurgeons in developed economies to efficiently diagnose children’s health proves beneficial for the industry outlook.
 

Availability of skilled healthcare professionals at hospitals will drive the segmental growth

Based on end-use, the neuroendoscopy market is segmented into ambulatory surgical centers, hospitals, diagnostic centers and others. The hospital segment was valued around USD 60 million in 2018. The hospitals segment hold the maximum market share and is estimated to show momentous growth during forthcoming years. 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.
 

Rising healthcare expenditure provides lucrative growth opportunities for market growth

North America market is anticipated to witness around 4% CAGR owing to increasing spending on healthcare facilities to provide more diagnostic centers and state of art healthcare facilities. High demand for pediatric neuroendoscopy has been one of the major growth drivers for neuroendoscopy industry. Furthermore, growing disease burden and recent technological advancements in the region will boost the market growth.
 

Focus of industry players on introducing innovative neuroendoscopy devices will offer several growth opportunities

Few of the eminent players operating in neuroendoscopy market include Ackermann Instrumente, Adeor Medical, Clarus Medical, B. Braun Melsungen, KARL STORZ, Schindler endoskopie technologie, Machida Endoscope,  HAWK, and Tonglu WANHE Medical Instrument. These players have undertaken several strategic initiatives that have enhanced their financial stability and helped them evolve as leading company. For instance, B. Braun is focused on developing and innovating novel market products that eventually helped the company to increase its customer base.