Neuroendoscopy Market Size, Share, Emerging Trend, Global Demand,...

Neuroendoscopy Market Size, Share, Emerging Trend, Global Demand, Key Players Review and Forecast to 2030

Posted 2023-06-08 07:05:48

The Neuroendoscopy Market Overview and Analysis by Product (Rigid, Flexible Neuroendoscopes), by Application (Transnasal, Intraventricular, Transcranial Neuroendoscopy), by Usability (Reusable, Disposable), End-User (Hospitals) – Global Forecast Till 2030

Neuroendoscopy is defined as a minimally invasive surgical procedure that is commonly used for tumor removal. Excision happens through small holes in the skull, i.e., through the mouth or nose. A small telescopic device fitted with a high-resolution video camera and an eyepiece is used in neuroendoscopy procedures. It enables neurosurgeons to navigate and safely enter areas of the brain that could not be reached by conventional surgery. Some of the other benefits of neuroendoscopy include rapid recovery, minimal scarring, and others.

Market Dynamics

The rising prevalence of brain tumors is a key driver of market growth. According to a report released by the Neuro-Oncology Journal in 2015, the global incidence rate for all types of brain tumors was reported to be around 10,82 per 100,000 people. Moreover, it is expected that the growing demand for minimally invasive surgical procedures, a rising geriatric population, and favorable refund policies will fuel the market during the forecast period. As per the National Institute of Health, the global geriatric population is expected to be more than triple between 2015 and 2050, i.e., it is projected to rise from 126.5 million in 2015 through 446.6 million by 2050.

Nevertheless, the lack of physicians and the rising cost of neuroendoscopy procedures and equipment are projected to inhibit the development of the market during the forecast period. In 2016, the Association of American Medical Colleges reported that the demand for physicians continued to increase at a higher pace, exceeding the supply. The expected overall physician shortfall is predicted to be between 61,700 and 94,700 by 2025.

Segmentation

The market for neuroendoscopy market size is segmented on the basis of product, application, usability, and end-user.

Based on products, the market is divided into rigid neuroendoscopes and flexible neuroendoscopes. The segment of rigid neuroendoscopes is sub-segmented into rigid fiberscopes and rigid video scopes.

Based on the application, the market for neuroendoscopy is classified as transnasal neuro-endoscopy, intraventricular neuroendoscopy, and transcranial neuroendoscopy.

Based on usability, the market for neuroendoscopy is divided into disposable neuroendoscopes and reusable neuroendoscopes.

Based on end-users, the market for neuroendoscopy is divided into hospitals, clinics, medical research centers, and others.

Regional Analysis

The global market for neuroendoscopy has been segmented into the Americas, Europe, the Asia Pacific, and the Middle East & Africa.

The Americas dominates the global market for neuroendoscopy. Factors such as the growing prevalence of brain tumors, the emergence of a well-developed healthcare sector, and huge spending on health care in the region are driving market growth in the region. Furthermore, the presence of major players such as Stryker and Medtronic, among others, and the increasing geriatric population in the region are fueling the market growth.

Europe is second in the global market for neuroendoscopy due to the increasing demand for minimally invasive surgeries, increased availability of research and development funding, and a large patient population. According to Cancer Research U.K., the overall number of new cases of a brain tumor in 2015 was estimated to be approximately 11,432.

Following Europe, the Asia Pacific ranks third in the global market for neuroendoscopy. Moreover, the region is expected to be the fastest-growing region on the global market. This can be due to the involvement of emerging countries such as China, increasing patient population, expanding the healthcare sector, and rising per capita expenditure on health care. In addition, favorable government policies help business growth. Medical tourism and a growing geriatric population are expected to fuel market growth. As per the Indian Brand Equity Foundation, the medical tourism industry in India is projected to expand rapidly and reach USD 9 billion by 2020.

The Middle East and Africa have the least share of the global market for neuroendoscopy due to the presence of weak economies, strict government policies, lack of knowledge, low per capita income, and poor availability of healthcare services, primarily within the African region. The majority of the neuroendoscopy market in the region is dominated by the Middle East due to the existence of a well-developed healthcare sector and huge expenditure on healthcare.

Competitive Analysis

The global players in the neuroendoscopy market are B. Braun (Germany), Ackermann Instrumente (Germany), Adeor Medical (Germany), KARL STORZ (Germany), Hangzhou Hawk Optical Electronic Instruments (China), Clarus Medical (U.S.), Machida Endoscope (Japan), Tonglu Wanhe Medical Instrument (China), Visionsense Corporation (U.S.), Schindler Endoskopie (Germany), LocaMed (U.K), Olympus Corporation (Japan), Medtronic (U.S.), Zeiss International (Germany), Stryker (U.S.), and others.

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