Global Neuroendoscopy Market Poised to Witness an Impressive Growth Over 2025
As per the latest report published by Market Research Future (MRFR), the global neuroendoscopy market will exhibit an above-average CAGR of 5.2% till 2025. Neuroendoscopy is a revolutionary medical procedure, which facilitates minimally-invasive surgeries in brain. It allows inspecting of parts of the brain that are difficult to reach through external invasive surgeries. It is used for removing brain tumors and other similar developments in the brain. In neuroendoscopy, excision is carried out through natural holes present in the skull, i.e., either nose or mouth. For the entire process, micro-size high-resolution video camera is attached with micro-size telescopic device, which is connected to an eyepiece. Using such an advanced surgical component, the neurosurgeon navigates and carefully examines critical sections of the brain.
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There is a growing preference for neuroendoscopy for performing several types of brain surgeries that require high precision and is difficult to perform using traditional surgical methods. At the same time, neuroendoscopy is safer and has advantages such as minimal scarring and fast recovery. Such factors are reflecting favorably on the market.
There is an uptick in incidence of brain tumor, which is leading to increased number of procedures. In addition, improving reimbursement policies, expanding elderly population, and increased preference for minimally invasive surgeries are other factors that are supporting the market’s growth. Nevertheless, lack of proficient physicians and high cost of procedures continues to undermine the market potential. There is a significant imbalance between demand and supply when it comes to the number of skilled neurosurgeons. The Association of America medical colleges revealed that the total physician shortfall is likely to reach somewhere between 61,700 and 94,700 by the year 2025.
The report also includes a thorough segmental analysis of the global neuroencoscopy market based on application, product, end-user and usability. By application, the market has been segmented into transcranial neuro-endoscopy, intraventricular neuroendoscopy and transnasal neuroendoscopy. Based on product, the market has been segmented into flexible neuroendoscopes and rigid neuroendoscopes. The rigid neuroendoscopes segment is further sub-segmented into rigid fiberscopes and rigid video scopes. By end-users, the market is segmented into medical research centers, clinics, hospitals and others. By usability, the market has been segmented into disposable neuroendoscopes and reusable neuroendoscopes.
The market has been covered across regions such as Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is likely to spearhead the global neuroendoscopy market during the forecast period. Availability of advanced surgical devices, cutting edge healthcare infrastructure, higher healthcare spending are some of the factors linked with the region’s significant position in the global market. North America is followed by Europe and Asia Pacific respectively. In Europe, the presence various leading healthcare providers and easy excess to advanced treatment options is favouring the market’s growth. The market in Asia Pacific is also witnessing a rapid growth. In fact, the region’s market is set post the fastest growth rate over 2025. Factors such as presence of a massive patient pool, increased healthcare penetration and favorable government policies are driving the growth of the market. The Middle East & Africa (MEA) neuroendoscopy market is also expected to witness a healthy growth but from a smaller base. The GCC countries are likely to make a considerable contribution to the market’s growth in the region during the assessment period. Policy reforms coupled with the increased focus towards development of the healthcare sector is creating opportunities for market players present in the region.
Global Neuroendoscopy Market: Competitive Landscape
Ackermann Instrumente (Germany), KARL STORZ (Germany), Hangzhou Hawk Optical Electronic Instruments (China), Tonglu Wanhe Medical Instrument (China), Clarus Medical (U.S.), Olympus Corporation (Japan), Stryker (U.S.), Adeor Medical (Germany), Zeiss International (Germany), Machida Endoscope (Japan), LocaMed (U.K), Schindler Endoskopie (Germany), B. Braun (Germany), Visionsense Corporation (U.S.) and Medtronic (U.S.) are some of the key companies operating in the global neuroencoscopy market.
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