Neuroendoscopy Market is expected to attain an outstanding growth in upcoming years

Posted July 18, 2019 by dheerajshaha67

Neuroendoscopy Market by Product (Rigid (Videoscope, Fiberscope), Flexible endoscope), Usability (Reuse and Disposable), Application (Transnasal, Intraventricular, and Transcranial), Region (North America, Europe, Asia)

Neuroendoscopy procedures are increasingly being used for the treatment of a number of neurological disorders, such as pineal region tumors, pituitary tumors, Rathke's cleft cysts, skull base tumors, and ventricular tumors. Its use is also growing in neuro-oncology, conducting brain biopsies, and the treatment of hydrocephalus.

What the market looks like?

The neuroendoscopy devices market is expected to reach USD 218.9 million by 2022 from USD 163.9 million in 2016, at a CAGR of 5.1%. As neuroendoscopy is considered as the gold standard for brain cancer diagnosis and treatment, the growing prevalence of neurological disorders and the subsequent growth in the number of neurosurgical procedures are expected to support the growth of the neuroendoscopy devices market in the coming years.

Based on product, the market is classified into rigid neuroendoscopes and flexible neuroendoscopes. The rigid endoscopes segment is further divided into videoscopes and fiberscopes. The rigid neuroendoscopes segment is expected to grow at the highest CAGR during the forecast period. This high growth can be attributed to the benefits of rigid neuroendoscopes such as superior optics, reusability due to autoclaving, and high device strength.

The global neuroendoscopy devices market, by application, is segmented into intraventricular neuroendoscopy, transcranial neuroendoscopy, and transnasal neuroendoscopy. The transnasal neuroendoscopy segment accounted for the largest market share in 2017. The large share of this segment can be attributed to the benefits provided by transnasal neuroendoscopy such as increased visualization with high light intensity in the deep-seated surgical field, clear display of patho-anatomical details, and extended viewing angle of neuroendoscopes (which enables surgeons to observe hidden parts of the surgical field).

Based on usability, the neuroendoscopy devices market is segmented into reusable neuroendoscopes and disposable neuroendoscopes. In 2017, the reusable neuroendoscopes segment accounted for the largest share of the market. This large share is mainly attributed to factors such as cost-effectiveness of reusable devices as they can be used in multiple procedures after procurement.

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What Driving the Market Growth?

The growth of the global market for neuroendoscopy is primarily influenced by the following factors:

1. Favorable Government Initiatives
2. Rising Prevalence of Neurological Disorders
3. Benefits of Neuroendoscopic Surgery Over Conventional Brain Surgery

Geographical Growth Scenario Of Neuroendoscopy Market:

The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). The dominance of the North American market is attributed to factors such as favorable government initiatives, rising prevalence of neurological disorders, increasing investments by hospitals to purchase new neuroendoscopy equipment, and increasing research activities.

Leading Market Players and Strategies Adopted by Them:

While the Neuroendoscopy Devices Market represents significant growth opportunities, market growth may be hindered due to the high cost of neuroendoscopy procedures and equipment. KARL STORZ (Germany), B. Braun (Germany), Ackermann Instrumente (Germany), Adeor Medical (Germany), Hangzhou Hawk Optical Electronic Instruments (China), Machida Endoscope (Japan), Tonglu Wanhe Medical Instrument (China), Schindler Endoskopie (Germany), Clarus Medical (US), LocaMed (UK), and Visionsense Corporation (US) are the key players operating in this market.

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Last Updated July 18, 2019