The report 'Global Neuroendoscopy Market by Product (Rigid and Fixed Endoscopes), application (transnasal, intraventricular and transcranial neuroendoscopy), usability (reusable and disposable neuroendoscopes), patient's age (adult and paediatric patients), end-use (hospitals, ambulatory surgical centres, diagnostic centres, and others) and region (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa) – Global Forecast to 2030'. In 2020, the global neuroendoscopy market was valued at USD 176.51 million. The neuroendoscopy market is expected to grow to USD 314.44 million by 2030 at a CAGR of 5.94%.
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Key Factors Augmenting the Market Growth
Some of the significant factors that improve the market's overall growth globally are the rising occurrence of diseases and the increasing demand for minimally invasive surgical procedures.
The 'rigid endoscopes' segment held the highest global neuroendoscopy market share by product, with a share valuation of around 68%.
Neuroendoscopes have been divided into flexible and rigid endoscopes. Increasing applications of rigid endoscopes in intraventricular neuroendoscopy and the emergence of new products in the neuroendoscopy industry have accelerated the market growth.
The 'transcranial endoscopy' segment is expected to be the fastest-growing market in neuroendoscopy by application, with a CAGR of around 5%.
Neuroendoscopy has been divided into transnasal, intraventricular and transcranial endoscopy. The improvements in preoperative imaging in transcranial endoscopy have allowed neuroscientists to plan and treat complicated cases through minimally invasive procedures., boosting the market growth.
The 'disposable neuroendoscopes segment had the largest market size by usability, with a valuation of USD 22 million in 2018.
Neuroendoscopes have been divided into disposable and reusable neuroendoscopes. The cost of disposable neuroendoscopes is lower than that of reusable neuroendoscopes. They also limit the danger of infection as they are meant for one use only. Disposable neuroendoscopes are used in developing countries due to their lower costs. Thus, disposable neuroendoscopes contribute the largest to usability's neuroendoscopy devices market share.
The' paediatric patients segment of the global neuroendoscopy market is expected to grow the fastest based on the patient's age, with a CAGR of 6.5%.
The patients opting for neuroendoscopy have been divided into adult and paediatric patients. However, as the number of paediatric tumour cases and skilled paediatric neurosurgeons increases, the market demand will be driven forward.
The 'hospital' segment captured the largest neuroendoscopy market size based on end-use—the revenue valued around USD 68 million in 2018.
The neuroendoscopy market is divided into hospitals, ambulatory surgical, diagnostic, and end-users. With state-of-the-art infrastructure, insurance coverage for patients, skilled healthcare professionals and an increasing number of neurosurgeries, the hospital segment will observe the maximum market growth.
The North American region had the largest neuroendoscopy market share, valuing around USD 75 million in 2018.
The global neuroendoscopy market is segmented geographically into North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. The North American segment held the maximum market share because of its governmental and private funding, increasing healthcare expenditure, and technological advances in neuroendoscopes.
Key Players existing in the market
The major competitors in the Global Neuroendoscopy market include Ackermann Instrumente, Schindler, Clarus Medical, LocaMed, Machida, Tonglu Wanhe Medical, B. Braun Aesulap, Karl Storz and VisionSense.
Recent Developments
In 2018, Renishaw announced that its neuromata surgical robot, the neurolocate 2D module, was granted a CE mark and offered to hospitals across Europe.
In 2017, Stryker announced its acquisition of Entellus Medical, Inc., which designs minimally invasive products to treat various ear, nose, and throat diseases.
In 2017, Karl Storz announced its partnership with the Ortega Clinic in Peru. This will help the Ortega Clinic to ensure high-quality patient treatment through superior technology, workflow, and process support while improving Karl Storz's brand image in Latin America.
In 2014, Penumbra, Inc. launched the Apollo System, which assists medical professionals in treating patients with inoperable, deep bleeding in the brain. With an endoscope and image guidance, the Apollo system allows decompression and removes otherwise inoperable deep clots in the brain.