Neuroendoscopy - Market Insights, Competitive Landscape, and Market Forecast - 2030

Neuroendoscopy - Market Insights, Competitive Landscape, and Market Forecast - 2030

Neuroendoscopy Market By Product (Rigid Neuroendoscopes And Flexible Neuroendoscopes), Application (Transnasal Neuroendoscopy, Intraventricular Neuroendoscopy, And Transcranial Neuroendoscopy), Usability (Reusable And Disposable) End-User (Hospitals, Ambulatory Surgical Centers, And Others) and geography is expected to grow at a steady CAGR forecast till 2030 owing to the rising prevalence of neurological disorders, growing demand for minimally invasive procedures and various advantages associated with neuroendoscopic procedures

The global Neuroendoscopy Market is poised for significant growth, projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 4.91% during the forecast period from 2024 to 2030. The demand for neuroendoscopy is primarily being boosted by the rising prevalence of neurological disorders such as brain tumors. Additionally, the growing demand for minimally invasive procedures and various advantages associated with neuroendoscopic procedures are some of the key factors that are contributing to the growth of the neuroendoscopy market during the forecast period from 2024-2030.

Neuroendoscopy Market Dynamics:

As per data published by the American Society of Clinical Oncology

(ASCO) 2023, it was estimated that around 308,102 people were diagnosed with a primary brain or spinal cord tumor in 2020, globally. Of these, brain tumors accounted for 85% to 90% of all primary central nervous system (CNS) tumors. Thus the rising prevalence of neurological disorders such as brain tumors, will create a need for the treatment and management of such neurological disorders, thus resulting in the positive growth of the Neuroendoscopy market.

Another driver for the Neuroendoscopy market is the rising need for minimally invasive procedures and various advantages associated with neuroendoscopy procedures. The minimally invasive nature of neuroendoscopy often results in less blood loss during procedures, reducing the need for blood transfusions and lowering the overall surgical risk. Additionally, neuroendoscopy allows high-resolution imaging enabling surgeons to navigate and treat targeted areas with great accuracy. Further, the smaller incisions in the procedures reduce the risk of infection, as there is less exposure of internal tissue to external contaminants during the procedure. Thus, the various advantages associated with neuroendoscopy procedures and the growing demand for minimally invasive procedures are some of the key factors that will eventually boost the growth of the Neuroendoscopy market during the forecast period.

However, the high cost associated with neuroendoscopy procedures and devices and the shortage of skilled neurologists and endoscopists, are some of the key constraints that may limit the growth of the Neuroendoscopy market.

Neuroendoscopy Market Segment Analysis:

Neuroendoscopy Market by Product (Rigid Neuroendoscopes and Flexible Neuroendoscopes), Application (Transnasal Neuroendoscopy, Intraventricular Neuroendoscopy, and Transcranial Neuroendoscopy), Usability (Reusable and Disposable) End-User (Hospitals, Ambulatory Surgical Centers, and Others) and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the Neuroendoscopy market, the Flexible Neuroendoscopy category is estimated to amass a significant revenue share in the Neuroendoscopy Market in 2023. This can be attributed to the various advantages provided by Flexible Neuroendoscopy. Flexible Neuroendoscopes are specialized medical instruments that possess flexible design providing the ability to navigate through the curved and intricate pathways within the brain providing enhanced access to complex structures. Additionally, the amount of flexibility provided by the flexible neuroendoscopes enables minimally invasive surgical procedures, reducing the need for large incisions, thus resulting in less tissue damage, reduced pain, and quicker recovery time. Further, the flexibility and maneuverability of these endoscopes allow surgeons to reach complex areas in the brain, ventricles, or spinal cord, which might be challenging to access with rigid instruments.

Therefore, owing to the above-mentioned factors, the Flexible Neuroendoscopy category is expected to register significant growth, thereby driving the growth of the overall Neuroendoscopy market during the forecast period.

North America is expected to dominate the overall Neuroendoscopy Market:

North America is expected to account for the highest proportion of the Neuroendoscopy Market in 2023, out of all regions. This is due to the presence of a large patient pool suffering from various neurological disorders such as brain tumors. Additionally, the presence of developed and sophisticated healthcare infrastructure, rising technological advancements, and a highly potent market in terms of product development, and launches are some of the factors driving the growth of the Neuroendoscopy Market in North America.

According to the data provided by the American Society of Cancer 2023, it was estimated that around 24,810 cases (14,280 in males and 10,530 in females) of brain and spinal cord tumors were diagnosed in the United States, in the year 2023. Additionally, as per the data provided by the American Society of Clinical Oncology (ASCO) 2023, it was estimated that 5,230 children under the age of 20, were diagnosed with brain and spinal cord tumors in the United States, in the year 2023. Thus, the rising prevalence of various neurological disorders will create a need for the treatment and management of these disorders, thus resulting in the positive growth of the Neuroendoscopy Market in the United States, which will eventually propel the Neuroendoscopy market in North America.

Further, various key product launches and product approvals in the region are some of the other factors that are influencing the positive growth of the market in North America. For example, in January 2021, the US FDA granted 510k clearance to ClearMind Biomedical's new neuroendoscope, the Axonpen System.

Therefore, the factors mentioned above, and with the increasing product launches and product approvals in the region, are the factors responsible for driving the overall market for Neuroendoscopy in North America during the forecast period.

Neuroendoscopy Market Key Players:

Some of the key market players operating in the Neuroendoscopy market include Adeor Medical AG, Machida Endoscope Co. Ltd, B. Braun SE, Schindler Endoskopie Technologie GmbH, Clarus Medical LLC, KARL STORZ, Locamed Ltd., Ackermann Instrumente GmbH, Tonglu Wanhe Medical Instruments Co., Ltd., Renishaw plc, Cliniva Healthcare, Advin Healthcare, Aesculap Inc., ClearMind Biomedical, and others.

Recent Developmental Activities in the Neuroendoscopy Market:

In August 2021, ClearPoint Neuro Inc. entered into a strategic and commercial partnership with German-based surgical equipment leader Adeor Medical AG.

In January 2021, the US FDA granted 510k clearance to ClearMind Biomedical's new neuroendoscope, the Axonpen System.

Key Takeaways from the Neuroendoscopy Market Report Study

Market size analysis for current Neuroendoscopy Market size (2023), and market forecast for 6 years (2024-2030)

Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years

Key companies dominating the global Neuroendoscopy market.

Various opportunities available for the other competitors in the Neuroendoscopy Market space.

What are the top-performing segments in 2023? How these segments will perform in 2030?

Which are the top-performing regions and countries in the current Neuroendoscopy market scenario?

Which are the regions and countries where companies should have concentrated on opportunities for Neuroendoscopy market growth in the coming future?

Target Audience who can be benefited from this Neuroendoscopy Market Report Study

Neuroendoscopy product providers

Research organizations and consulting companies

Neuroendoscopy market-related organizations, associations, forums, and other alliances

Government and corporate offices

Start-up companies, venture capitalists, and private equity firms

Distributors and Traders dealing in Neuroendoscopy

Various end-users who want to know more about the Neuroendoscopy Market and the latest technological developments in the Neuroendoscopy Market.

Frequently Asked Questions for the Neuroendoscopy Market:

1. What is meant by Neuroendoscopy?

Neuroendoscopy is a medical procedure, which is performed using an endoscope. An endoscope is a thin, flexible tube with a light and a camera placed at its tip, is used to visualize and perform surgical interventions within the brain, and spinal cord.

2. What is the market for Neuroendoscopy?

The global Neuroendoscopy Market is poised for significant growth, projected to achieve a remarkable Compound Annual Growth Rate (CAGR) of 4.91% during the forecast period from 2024 to 2030.

3. What are the drivers for the global Neuroendoscopy market?

The Neuroendoscopy Market is slated to witness prosperity owing to factors such as the growing prevalence of neurological disorders such as brain tumors. Additionally, the growing demand for minimally invasive procedures and various advantages associated with neuroendoscopic procedures, are some of the other factors resulting in appreciable revenue growth in the Neuroendoscopy Market during the forecast period (2024-2030).

4. Who are the key players operating in the global Neuroendoscopy market?

Some of the key market players operating in the Neuroendoscopy Market include Adeor Medical AG, Machida Endoscope Co. Ltd, B. Braun SE, Schindler Endoskopie Technologie GmbH, Clarus Medical LLC, KARL STORZ, Locamed Ltd., Ackermann Instrumente GmbH, Tonglu Wanhe Medical Instruments Co., Ltd., Renishaw plc, Cliniva Healthcare, Advin Healthcare, Aesculap Inc., ClearMind Biomedical, and others.

5. Which region has the highest share in the global Neuroendoscopy market?

North America is expected to dominate the overall Neuroendoscopy Market during the forecast period, 2024 to 2030. This is due to the presence of a large patient pool suffering from various neurological disorders such as brain tumor. Additionally, the presence of developed and sophisticated healthcare infrastructure, rising technological advancements, and a highly potent market in terms of product development, and launches, are some of the key factors driving the growth of the Neuroendoscopy Market in North America.