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Global Neuroendoscopy Market Overview
Neuroendoscopy Market Size was valued at USD 0.16 Billion in 2023.The Global Neuroendoscopy industry is projected to grow from USD 0.18 Billion in 2024 to USD 0.33 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.18% during the forecast period (2024 - 2032).
Neuroendoscopy is a minimally invasive surgical treatment for the removal of tumors that is widely used. The excision is done through small pores in the skull, such as the mouth or nose. A compact telescopic gadget with a high-resolution video camera and an eyepiece is used in neuro endoscopy operations. This allows neurosurgeons to traverse and effectively access areas of the brain that are not accessible through standard surgery. Fast healing, little scarring, and other benefits of neuro endoscopy are only a few. The rising occurrence of brain tumors is a primary driver of market expansion for neuroendoscopy.
Neuroendoscopy is a procedure in which a neurosurgeon uses an endoscope to traverse and access a tumor. Neurosurgeons attach specific devices to the endoscope, frequently an extra endoscope with forceps and scissors on the end, to remove a tumor or take a sample of it (a biopsy), as opposed to traditional open brain surgery, which takes longer to heal and causes less discomfort. Patients also experience minimal scarring as a result of neuroendoscopic operations. These advantages are well recognized in the medical profession, and as a result, these operations are becoming more widespread around the world. As a result, the advantages of neuroendoscopic surgery over traditional brain surgery are projected to propel the industry forward.
April 2022: On Saturday, the AIG Group of Hospitals announced that they will provide a variety of minimally invasive procedures and treatments to lessen the need for open spine and brain surgeries as well as to lessen patient trauma, recovery time, and expenses. The necessity for open brain and spine interventions will be significantly diminished by the implementation of advanced endoscopy and similar technologies that employ artificial intelligence (AI) and robotics. With neuro-endoscopy services, it is possible to operate on a variety of tumors without the need to remove portions of the cranium. In the past, all maladies necessitated craniotomy and open surgery. However, endoscopies performed in neurology can now assist in the removal of brain tumors, the removal of spinal obstructions, the repair of disk issues, and a variety of other conditions, all at a reduced cost and recovery time. These surgeries will lead to a reduced hospital stay and minimal adverse effects. According to a hospital team, endoscopic surgeries could be implemented in at least 40% of all cases, thereby reducing recuperation time, improving outcomes, and saving time. AIG now offers a variety of services, including neuronavigation, cranial robots, lasers, and spin endoscopy systems.
The Middle East and Africa holds the least market share in the global market of neuroendoscopy due to the presence of poor economies, stringent government policies, lack of awareness, low per capita income, and poor availability of healthcare services, especially within the African region. A majority of the neuroendoscopy market within the region is held by the Middle East due to the presence of a well-developed healthcare sector and huge healthcare expenditure.
Neuroendoscopy Market Segment Insights
The global market for neuroendoscopy is segmented on the basis of product, application, usability, and end-user.
Neuroendoscopy Product Insights
On the basis of products, the global market of neuroendoscopy is segmented into rigid neuroendoscopes and flexible neuroendoscopes. The rigid neuroendoscopes segment is sub-segmented into rigid video scopes and rigid fiberscopes.
Neuroendoscopy Application Insights
On the basis of application, the market for neuroendoscopy is categorized into transnasal neuroendoscopy, intraventricular neuroendoscopy, and transcranial neuro-endoscopy.
Neuroendoscopy Usability Insights
On the basis of usability, the neuroendoscopy market is segmented into reusable neuroendoscopes and disposable neuroendoscopes.
Neuroendoscopy End-User Insights
On the basis of end-users, the market is segmented into hospitals, clinics, medical research centers, and others.
Neuroendoscopy Regional Insights
The Americas dominates the global market of neuroendoscopy. Factors such as the increasing prevalence of brain tumors, the presence of a well-developed healthcare sector, and huge health care expenditures within the region drive the market growth within the region. Moreover, the presence of key players such as Stryker and Medtronic, besides others and the growing geriatric population within the region fuel the market growth.
Europe stands second in the neuroendoscopy market due to the increasing demand for minimally invasive surgeries, rising availability of funds for research and development, and a huge patient population. According to the Cancer Research U.K., the total number of new cases for brain tumor was estimated to be about 11,432 in 2015.
Followed by Europe, Asia Pacific stands third in the market of neuroendoscopy. Moreover, the region is projected to be the fastest growing region in the global market. This can be attributed to the presence of developing economies such as China, growing patient population, developing healthcare sector, and increasing per capita healthcare expenditures. Additionally, favorable government policies support the market growth. Medical tourism and rising geriatric population are estimated to fuel the market growth. According to the Indian Brand Equity Foundation, the medical tourism industry in India is estimated to grow rapidly and reach USD 9 billion by 2020.
The Middle East and Africa holds the least market share in the global market of neuroendoscopy due to the presence of poor economies, stringent government policies, lack of awareness, low per capita income, and poor availability of healthcare services, especially within the African region. A majority of the neuroendoscopy market within the region is held by the Middle East due to the presence of a well-developed healthcare sector and huge healthcare expenditure.
Recent Development
ClearPoint Neuro Inc., a global therapy-enabling platform firm that provides brain navigation and delivery, announced a strategic and commercial cooperation with Adeor Medical AG, a German surgical equipment provider, in August 2021.
In 2017, KARL STORZ teamed with Ortega Clinic in Peru to provide an integrated KARL STORZ 3D operating room (OR) and accessories to the facility. B.Braun also established a subsidiary in Zambia in 2017. This will assist the organization in establishing its business in Zambia and expanding its presence throughout Africa.
Neuroendoscopy Market Key players
The key players in the global neuroendoscopy market are
- KARL STORZ (Germany)
- B. Braun (Germany)
- Ackermann Instrumente (Germany)
- Adeor Medical (Germany)
- Hangzhou Hawk Optical Electronic Instruments (China)
- Machida Endoscope (Japan)
- Tonglu Wanhe Medical Instrument (China)
- Schindler Endoskopie (Germany)
- Clarus Medical (U.S.)
- LocaMed (U.K)
- Visionsense Corporation (U.S.)
- Olympus Corporation (Japan)
- Zeiss International (Germany)
- Stryker (U.S.),
- Medtronic (U.S.)
Intended Audience
- Pharmaceutical Companies
- Biotechnological Institutes
- Government and Private Laboratories
- Research and Development (R&D) Companies
- Medical Research Laboratories
- Market Research and Consulting Service Providers
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