The use of an endoscope to treat disorders of the central nervous system is called neuroendoscopy. Because of its increased vision and better illumination, neuroendoscopy is increasingly employed in neurosurgery for disorders of the brain, spine, and skull base. Numerous indications, including cranial cysts (33), hematoma evacuations, infectious diseases, endoscopic third ventriculostomies, intraventricular lesions, rhinorrhea, pituitary tumors, etc., have been treated with it.
The market worth of neuroendoscopy devices in 2021 was USD 186.99 million, and it will be worth USD 314.31 million by 2030, growing at a 5.94% CAGR during the forecast period.
The market for neuroendoscopy devices is growing as a result of positive government initiatives, an increase in neurological illnesses worldwide, and the benefits of neuroendoscopic surgery. The primary restraint on market expansion is the high cost of neuroendoscopy procedures and related equipment.
Market Dynamics
Drivers
Key factors stimulating market expansion are the increase in the frequency of brain tumors, a sizable patient population, and beneficial public or private initiatives. The rapid evolution of technology and the availability of alluring reimbursement plans also support the industry’s rise. The market’s growth is further driven by society’s increasing need for minimally invasive procedures because of their many benefits. The sector is also being advanced by rising disposable income and changing healthcare infrastructure.
Restraints
Medical institutions choose conventional procedures due to the high costs of gadgets, which restrains business expansion. Additionally, patients are compelled to choose alternative forms of therapy due to the high cost of minimally invasive neurosurgery, which restrains market expansion. A report published in the NCBI estimates an endoscopic third ventriculostomy costs roughly $2200.
Opportunity
The market trends for neuroendoscopy devices may change as a result of improvements in neuroendoscopy technology. The development of innovative neuroendoscopy procedures using cerebrospinal fluid and a tool like the Flexible Video-Neuro Endoscope can boost the market growth. Recently, neuroendoscopy procedures like endoscopic third ventriculostomy and endoscopic microvascular decompression have been employed.
Market Segmentation
By Product, the market is segmented into flexible endoscopes and rigid endoscopes. Rigid endoscopes significantly contributed for the largest market share of nearly 68%. The use of rigid endoscopes in intraventricular neuroendoscopy is increasing, and new products in the neuroendoscopy market are emerging.
By Application, the market is segmented into transcranial neuroendoscopy, intraventricular neuroendoscopy, and transnasal neuroendoscopy. Transcranial endoscopy will be neuroendoscopy’s fastest-growing market with a 5% CAGR. Transcranial endoscopic preoperative imaging advancements have made it possible for neurosurgeons to plan and handle complex situations using less invasive techniques.
By Usability, the market is segmented into disposable endoscopes and reusable endoscopes. With a market value of USD 22 million in 2018, the disposable neuroendoscopes category ruled the entire market. They reduce the risk of infection due to their single-use design. Because they are less expensive, disposable neuroendoscopes are used in developing nations.
By Patient age, the market is segmented into paediatric patients and adult patients. The pediatric segment will develop fastest, with a 6.5% CAGR. The demand for this market segment will be driven by the rise in pediatric tumor cases and the number of skilled pediatric neurosurgeons. In the US, there are 5.14 instances of brain cancer for every 100,000 children under the age of 15, according to a study published in the NCBI.
By end-user, hospitals had the greatest market share, with a revenue share of USD 68 million in 2018. Modern infrastructure, patient insurance, qualified medical staff, and an increase in neurosurgeries will contribute to the market’s growth. In the globe today, there are around 50,000 neurosurgeons, according to a study published in the NCBI. To meet the increasing demand for neurosurgery, the number of neurosurgeons is predicted to grow, propelling market growth in this area.
Regional Insights
North America has the market’s highest revenue share. North America’s market is developing due to the continuous acceptance of upgraded technologies, increased R&D activity, and several local and regional companies. Increased financing and investment in neurological diseases, as well as the rapid implementation of novel techniques, are some drivers driving market expansion in North America. Europe ranks second in terms of market revenue share. This expansion is due to the widespread usage of enhanced therapy or methods and medical infrastructure advancements.
Key Players
- Clarus Medical
- LocaMed
- Ackermann Instrumente
- Schindler
- Machida
- Karl Storz
- VisionSense
- Tonglu Wanhe Medical
- B. Braun Aesculap
- ClearMind Biomedical
- evonos
The market worth of neuroendoscopy devices in 2021 was 186.99 million, and it will be worth USD 314.31 million by 2030, growing at a 5.94% CAGR during the forecast period. The market for neuroendoscopy devices is driven by factors like the rise in brain tumor cases and interest in minimally invasive procedures. Additionally, rising instances of intraventricular hemorrhage and an increase in pituitary tumor cases will support market expansion throughout the projection period.
