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Factors such as favorable government initiatives, rising prevalence of neurological disorders, and benefits of neuroendoscopic surgery over conventional brain surgery are driving the growth of Neuroendoscopy Market. However, the high cost of neuroendoscopy procedures and equipment may hinder the growth of the market. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
What The Experts Says about the Market Growth?
The neuroendoscopy devices market is expected to reach $218.9 million by, at a CAGR of 5.1%
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Neuroendoscopic surgery for intraventricular brain tumors is one of the major applications of neuroendoscopy. This approach is used in selective conditions, such as tumor biopsy, concordant CSF diversion, treatment of non-communicating hydrocephalus, management of pineal tumor patients, fenestration of intracranial cysts, and removal of fibroid cysts. Factors such as the ease of use, increased visibility, and treatment of a large number of neurological conditions will drive the growth of this segment.
Transnasal procedures help surgeons to approach the anterior cranial base, parasellar region, clivus, cavernous sinus, and craniovertebral junction in a less invasive manner as compared to conventional neurosurgery techniques. Transnasal neuroendoscopy is indicated for biopsies, removal of cysts, and removal of pituitary gland tumors and other obstructions. The advantages of transnasal neuroendoscopy include increased visualization with high light intensity in the deep-seated surgical field, clear display of patho-anatomical details, and extended viewing angle of neuroendoscopes (which enables surgeons to observe hidden parts of the surgical field).
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The market is dominated by North America, followed by Europe, Asia, and the Rest of the World (RoW). The dominance of the North American market is attributed to factors such as favorable government initiatives, rising prevalence of neurological disorders, increasing investments by hospitals to purchase new neuroendoscopy equipment, and increasing research activities.
Key Market Players:
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 (US), LocaMed (UK), and Visionsense Corporation (US) are the key players operating in this market.
Neuroendoscopy Market by Product (Rigid (Videoscope, Fiberscope), Flexible endoscope), Usability (Reuse and Disposable), Application (Transnasal, Intraventricular, and Transcranial), Region (North America, Europe, Asia) – Global Forecast to 2022