The Neuroendoscopy Devices Market is expected to grow at a 7.6% CAGR between 2022 and 2032, from USD 165.0 Million to USD 343.2 Million.
COVID-19 has had a moderate impact on the neuroendoscopy market; these devices are used to treat conditions of the central nervous system, and as elective surgeries have been postponed, neuroendoscopy has been used less frequently than usual, resulting in a decrease in investment.
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Globally increasing brain tumour incidences and technological advancements in neuroendoscopic devices will drive the neuroendoscopic devices market forward.
After delayed elective procedures are completed and vaccines are available, the neuroendoscope devices market is expected to perform well in 2021, as patients feel more confident about completing delayed screenings.
According to the American Society of Clinical Oncology (ASCO), there were approximately 23,820 cases of brain tumours reported in the United States in 2019. Furthermore, brain tumours account for nearly 90% of all primary central nervous system tumours, providing opportunities for the neuroendoscopy devices market, and approximately 3,720 paediatric tumour cases were reported in 2019.
The high cost of procedure and equipment is a major impediment to the growth of the neuroendoscopy device market.
Aside from an increase in the number of brain tumour cases worldwide, numerous risk factors, such as radiation exposure and family medical history, are expected to have an impact on the global market for neuroendoscopy devices. As a result, the global neuroendoscopy devices market is expected to expand significantly as the incidence of brain cancer rises.
The increasing prevalence of pituitary tumours across Europe is expected to drive the European neuro endoscopy market. North America is home to a number of major corporations, including B Braun and Karl Storz, which is fueling regional growth. Meanwhile, the rising prevalence of acute paediatric brain tumours will increase market size. Furthermore, the rising population demand for minimally invasive procedures contributes to North America’s dominance of market shares during the analysis period.
In addition to rising brain tumour prevalence and non-invasive biopsies at medical facilities, Asia Pacific neuroendoscopy market growth will be fueled by rapidly rising healthcare expenditures in rapidly developing economies such as India, Vietnam, and others.
People over the age of 65 are especially vulnerable to developing brain tumours; in fact, glioblastoma is the most common primary brain tumour in the geriatric population. The growing elderly population in countries such as India and China will drive significant market growth in neuroendoscopy devices.
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KEY TAKEAWAYS:
- In the intraventricular surgery section of the surgery type category, the neuroendoscopy devices market is expected to grow at a CAGR of 7.5%.
- The neuroendoscopy devices market in the United States is expected to reach US$ 122.5 million by 2032, growing at a 7.4% CAGR during the forecast period.
- The neuroendoscopy devices market in the United Kingdom is expected to be worth US$ 14.1 million by 2032, with a CAGR of 6.3%.
- China is expected to reach a market size of US$ 28.4 million in the neuroendoscopy devices market by 2032, with a CAGR of 6.9% over the forecast period.
- The neuroendoscopy devices market in Japan is expected to be worth US$ 20.0 million by 2032, growing at a 5.9% annual rate.
- South Korea is expected to reach a market size of US$ 12.5 million in the neuroendoscopy devices market by 2032, with a CAGR of 5.2% over the forecast period.
COMPETITIVE LANDSCAPE:
Companies that have developed new products to increase their market share among consumers are also adopted by leading companies. It is these strategies that have led to the development of the neuroendoscopy devices market.
Globally, B. Braun, Aesculap, and Karl Storz are few of the top companies in terms of neuroendoscopy devices sales.
Neuroendoscopy devices market is fragmented in nature as multiple startups have entered the market in recent years as well as major players such as B. Braun, Karl Storz, Olympus Corporation, Stryker, Medtronic, Ackermann Instruments GmbH, Adeor Medical AG, Clarus Medical LLC, Machida Endoscope, Tonglu WANHE Medical Instrument, Hawk, Schindlerendoskopie Technologie GmbH, and others.
RECENT DEVELOPMENT:
- The MINOP neuroendoscope was one of Aesculap’s most recent additions to its neuroendoscope line. Following that, the company established itself as a major player in the neuroendoscopy devices market.
- With the introduction of its new 4 mm endoscopic NIR/ICG fluorescence imaging system in December 2018, KARL STORZ was able to maintain a strong position in neuroendoscopy.
- The system is intended to assist neurosurgeons in improving minimally invasive neurosurgery techniques; thus, the new system assisted doctors in improving their skills in this field.
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Key segments
By Surgery Type:
- Intraventricular
- Transcranial
- Transnasal
By Device Type:
- Rigid Neuroendoscopy
- Flexible Neuroendoscopy
By Application:
- Hospitals
- Medical Research Centers
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