Neuroendoscopy Devices Market Size, Share & Industry Analysis, By Product Type (Rigid Neuroendoscopes, Flexible Neuroendoscopes), By Application Type (Transnasal Neuroendoscopy, Intraventricular Neuroendoscopy, Transcranial Neuroendoscopy), By End User (Hospitals, Specialty Clinics, Others) and Regional Forecast, 2019-2032

The global neuroendoscopy devices market size was USD 117.5 million in 2018 and is projected to reach USD 290.6 million by 2032, exhibiting a CAGR of 6.6% during the forecast period. North America dominated the global market with a share of 47.49% in 2018.

Neuroendoscopy is a minimally-invasive surgical procedure, where the tumor is removed through small holes, in the skull or through the nose or mouth. Neuroendoscopy enables medical surgeons to access intricate areas of the brain that are difficult to access in traditional surgeries. Moreover, neuroendoscopy devices help in removing the tumor without harming or cutting other parts of the skull.

Neuroendoscopy market is currently at its nascent stage of growth owing to their complex technology. However, the market is estimated to witness substantial growth during the forecast period, due to increasing technological advancements pertaining to these devices. Moreover, increasing incidence of brain tumor across the globe is another important factor augmenting the neurology endoscopy devices market growth during the forecast period.

On the other hand, high cost associated with neuroendoscopy surgeries and devices might restrict the growth of the market up to a certain extent.

The growing rate of geriatric population across the globe is another important factor contributing to the neuroendoscopy market growth. Since, people above the age of 65 years are more prone to chronic ailments, thus the increasing rate of geriatric population is one of the chief drivers of the market.

MARKET DRIVERS

“Rising Incidence of Brain Tumors Worldwide will Provide Growth Opportunities for Market”

A brain tumor is characterized by the growth of abnormal cells in the brain. Some brain tumors are malignant, while others are not. As per American Society of Clinical Oncology (ASCO), in 2019, an estimated 23,820 cases of brain tumors were reported in the U.S. Additionally, brain tumors account for 86% to 90% of all primary central nervous system tumors. Hence, the increasing prevalence of such ailments will provide growth opportunities for the neuroendoscopy devices market. Moreover, about 3,720 pediatric tumor cases were registered in 2019. Hence, the aforementioned factor will significantly stimulate market growth across the forecast period of 2018 – 2026. Also, increasing incidence of trauma and spinal cord injuries is another significant factor promoting the growth of neurology endoscopy devices market.

“Increasing Technological Advancements in Neuroendoscopic devices to Augment Market Growth”

Growing demand for neuroendoscopy devices across the globe, owing to their increasing technological advancements is one of the primary factors supporting market expansion. Developments in imaging and fiber optics have paved way for remarkable advancements in neuroendoscopy. These improvements in neuroendoscopy devices have led to wide usage of the endoscopes in neurological procedures. Moreover, advances in surgical apparatus and neuroimaging techniques have made neuroendoscopy minimally invasive, thus boosting product demand. Hence, the aforementioned factors will significantly drive neuroendoscopy devices market growth. Moreover, the rising number of commercializing neuroendoscope manufacturers, coupled with the increasing number of private players entering the neuroendoscopy devices industry will further stimulate market expansion.

SEGMENTATION

By Product Type Analysis

“Rigid Neuroendoscopes Segment to Dominate the Neuroendoscopy Devices Market”

Based on product type, the market can be categorized into rigid neuroendoscopes and flexible neuroendoscopes. The rigid neuroendoscopes segment is estimated to hold significant neuroendoscopy market share during the forecast period owing to growing demand for neuroendoscopy procedures across the globe. Rigid endoscopes are made of metal tubes which contain the light channels and lenses for diagnosis. These endoscopes are incorporated with a series of high-resolution optical glass rod lenses for enhanced visualization of inaccessible parts of the brain. Moreover, rigid type is considered to be the oldest neuroendoscopes and are used in the majority of surgical endoscopic applications. Hence, the aforementioned factors will further accelerate the neuroendoscopy market revenue.

Flexible neuroendoscopes segment is estimated to witness lucrative growth across the forecast period. High growth is predicted based on the fact that these endoscopes are incorporated with novel technology compared to rigid endoscopes. Hence, the increasing R&D activities pertaining to the enhancement of such devices will significantly boost product demand during the forecast period. Also, the increasing incidence of pituitary tumors is another considerable factor augmenting segmental growth during 2018 – 2026.

By Application Type Analysis

“Transnasal Neuroendoscopy Segment to Witness Positive Growth Trajectory Owing to Increasing Prevalence of Brain Tumors”

Based on application type, the market is classified into transnasal neuroendoscopy, intraventricular neuroendoscopy, and transcranial neuroendoscopy. The transnasal neuroendoscopy segment is estimated to hold dominant share in the forecast period. High growth of this segment is attributable to the increasing number of neurosurgeries such as transnasal surgeries performed across the globe. These procedures help neurosurgeons to approach the parasellar region, cavernous sinus, anterior cranial base, clivus, and craniovertebral junction in a minimally invasive nature as compared to other techniques. The procedure is primarily performed for the removal of cysts and tumors in the pituitary gland. It is also suggested for biopsies. Benefits associated with transnasal surgeries include enhanced visualization with high light intensity and vibrant display of patho-anatomical details. Hence, the aforementioned factors will strongly stimulate segmental growth across the forecast period.

Transcranial neuroendoscopy is primarily applicable for the treatment and diagnosis of severe brain tumors, which are not easily accessible via other neuroendoscopic approaches. Increasing incidence of brain tumors across the globe is one of the major factors driving the growth of the segment. This procedure can be used to treat a variety of conditions, including craniofacial deformity, trauma, and tumors. Hence, increasing applications pertaining to such procedure will significantly drive the segmental growth during 2018 – 2026.

By End-user Analysis

“Presence of State-of-the-Art-Facilities will Assist in Revenue Growth”

On the basis of the end user, the market is segmented into hospitals and specialty clinics. In terms of revenue, hospitals segment accounted for the maximum portion of the market in 2018. An increase in the number of multispecialty hospitals adopting the neuroendoscopy procedures, along with favorable health reimbursement policies will considerably foster the neuroendoscopy market size in the hospitals segment. Moreover, the presence of state of the art facilities in the hospital settings, required for these procedures will further augment segmental growth. Also increasing healthcare infrastructure in the developing economies such as India, Mexico and others is another important factor stimulating segmental growth.

An increasing number of neurosurgeons and a significant increase in the number of neuroendoscopy procedures in specialty clinics are expected to propel the expansion of the segment. Moreover, increasing number of specialty clinics in the developed as well as developing economies of the world will further augment segmental growth. Also, the increasing awareness among the population pertaining to various minimally invasive neuroendoscopy surgical procedures is another important factor supporting the growth of specialty clinics around the globe. Additionally, increasing government initiatives to develop such clinics in several regions of the world will further propel neurology endoscopy devices market growth.

REGIONAL ANALYSIS

The report covers several neuroendoscopy devices market trends, focusing on different regions that include North America, Asia Pacific, Europe, and the Middle East and Africa. North America held the maximum revenue in 2018 and is projected to witness significant growth throughout the forecast period. Presence of major companies such as B. Braun, Karl Storz in the North America is one of the considerable factors propelling regional growth. Moreover, growing prevalence of acute pediatric brain tumors will further expand the market size in North America. Also, the rising demand for minimally invasive procedures among the population is another growth fostering factor. Hence the aforementioned factors have suggestively contributed to the dominating shares of North America market across the analysis period.

In Asia Pacific, the neuroendoscopy devices market is anticipated to witness exponential growth between 2018 to 2026. Growing prevalence of brain tumors, along with increasing number of biopsies performed in the medical facilities, will strongly suggest regional growth. Moreover, growing healthcare expenditure of the developing economies such as India, Vietnam and others will further augment Asia Pacific neuroendoscopy market growth. Additionally, people above the age of 65 years are at high risk of developing brain tumors. Glioblastoma is the most common primary brain tumor prevalent among the geriatric population. Hence, increasing rate of elderly population across countries such as India and China will help contribute significant neuroendoscopy device market share.  

In Europe, the neuro endoscopy market is estimated to flourish owing to the increasing prevalence of pituitary tumors across the region. Also, presence of expert neurosurgeons in the countries such as UK, Germany, France and others will further propel market growth. However, the lack of awareness amongst the population of Middle East and Africa about various minimally invasive neurosurgical procedures has led to the limited segment shares in the region. Although, geographical expansion of the major players in the recent years will stimulate the growth rate in the Middle East and Africa. Also, dearth of advanced medical technologies in Latin America as compared the technologically advanced nations such as North America and Europe has led to smaller segment shares in Latin America. However, Brazil being one of the developed economies and with a higher health care expenditure rate will flourish in the Latin America neuro endoscopy market.

INDUSTRY KEY PLAYERS

“B. Braun and Karl Storz to Emerge as the Top Players in the Neuroendoscopy Devices Market” 

In terms of neuroendoscopy devices market revenue, B. Braun, Aesculap, and Karl Storz are few of the leading companies operating across the globe. The company holds a major proportion of shares in terms of neuroendoscopy devices in the U.S. Few of the notable players functioning in the market across the globe are Ackermann Instrumente GmbH., Adeor Medical AG, Clarus Medical LLC, Machida Endoscope, Tonglu WANHE Medical Instrument, HAWK, Schindlerendoskopie technologie GmbH and others. The neuroendoscopy devices market is fragmented in nature with multiple startups entering the market in recent years.   

List of Key COMPANIES Covered:

• Ackermann Instrumente GmbH


• B. Braun Aesculap


• Clarus Medical LLC


• KARLSTORZSE & Co. KG


• Schindlerendoskopie technologie GmbH


• Tonglu WANHE Medical Instrument


• HAWK


• Machida Endoscope


• Adeor medical AG


• Nevro Corporation


• Others

REPORT COVERAGE

Neuroendoscopy procedures are minimally invasive in nature, thus the demand for such devices are increasing at a considerable pace. Moreover, rising initiatives by the major players operating in the industry to launch novel neuroendoscopes for various neurological procedures will spur revenue growth across the forecast timeframe. Also technological advancements pertaining to neuroendoscopes coupled with the rising demand for less invasive surgical procedures will strongly influence market growth.

The report provides a detailed analysis of the market and focuses on key aspects such as leading companies, competitive landscape, and product types. Besides this, the report offers insights into the market trends and highlights key industry developments, such as mergers, acquisitions, and partnerships. In addition to the aforementioned factors, the report encompasses several key insights, such as statistics on prevalence of brain tumors across key countries, data pertaining to healthcare expenditure for key countries and others.

Report Scope & Segmentation

INDUSTRY DEVELOPMENTS:

• April 2013: Aesculap, Inc., a B. Braun company launched the range of MINOP neuroendoscopes product line. Novel product launch assisted the company to hold a major position in the neuroendoscopy devices market.


• In December 2018: KARL STORZ announced the launch of new 4 mm Endoscopic NIR/ICG Fluorescence Imaging System. The system assists neurosurgeons to enhance the techniques for minimally invasive neurosurgery. Hence, such novel product launch enabled the company to hold a strong position in the neuroendoscopy devices market.