The Neuroendoscopy Market Outlook and Analysis by Product (Rigid, Flexible Neuroendoscopes), by
Application (Transnasal, Intraventricular, Transcranial Neuroendoscopy), by
Usability (Reusable, Disposable), End-User (Hospitals) – Global Forecast Till
2032
Neuroendoscopy is defined
as a minimally invasive surgical procedure that is commonly used for tumor
removal. Excision happens through small holes in the skull, i.e., through the
mouth or nose. A small telescopic device fitted with a high-resolution video
camera and an eyepiece is used in neuroendoscopy procedures. It enables
neurosurgeons to navigate and safely enter areas of the brain that could not be
reached by conventional surgery. Some of the other benefits of neuroendoscopy
include rapid recovery, minimal scarring, and others.
Market Dynamics
The rising prevalence of
brain tumors is a key driver of market growth. According to a report released
by the Neuro-Oncology Journal in 2015, the global incidence rate for all types
of brain tumors was reported to be around 10,82 per 100,000 people. Moreover,
it is expected that the growing demand for minimally invasive surgical
procedures, a rising geriatric population, and favorable refund policies will
fuel the market during the forecast period. As per the National Institute of
Health, the global geriatric population is expected to be more than triple
between 2015 and 2050, i.e., it is projected to rise from 126.5 million in 2015
through 446.6 million by 2050.
Nevertheless, the lack of
physicians and the rising cost of neuroendoscopy procedures and equipment are
projected to inhibit the development of the market during the forecast period.
In 2016, the Association of American Medical Colleges reported that the demand
for physicians continued to increase at a higher pace, exceeding the supply.
The expected overall physician shortfall is predicted to be between 61,700 and
94,700 by 2025.
Segmentation
The market for neuroendoscopy market share is segmented on the basis of product, application, usability, and
end-user.
Based on products, the
market is divided into rigid neuroendoscopes and flexible neuroendoscopes. The
segment of rigid neuroendoscopes is sub-segmented into rigid fiberscopes and
rigid video scopes.
Based on the application,
the market for neuroendoscopy is classified as transnasal neuro-endoscopy,
intraventricular neuroendoscopy, and transcranial neuroendoscopy.
Based on usability, the
market for neuroendoscopy is divided into disposable neuroendoscopes and
reusable neuroendoscopes.
Based on end-users, the
market for neuroendoscopy is divided into hospitals, clinics, medical research
centers, and others.
Regional Analysis
The global market for
neuroendoscopy has been segmented into the Americas, Europe, the Asia Pacific,
and the Middle East & Africa.
The Americas dominates the
global market for neuroendoscopy. Factors such as the growing prevalence of
brain tumors, the emergence of a well-developed healthcare sector, and huge
spending on health care in the region are driving market growth in the region.
Furthermore, the presence of major players such as Stryker and Medtronic, among
others, and the increasing geriatric population in the region are fueling the
market growth.
Europe is second in the
global market for neuroendoscopy due to the increasing demand for minimally
invasive surgeries, increased availability of research and development funding,
and a large patient population. According to Cancer Research U.K., the overall
number of new cases of a brain tumor in 2015 was estimated to be approximately
11,432.
Following Europe, the Asia
Pacific ranks third in the global market for neuroendoscopy. Moreover, the
region is expected to be the fastest-growing region on the global market. This
can be due to the involvement of emerging countries such as China, increasing
patient population, expanding the healthcare sector, and rising per capita
expenditure on health care. In addition, favorable government policies help
business growth. Medical tourism and a growing geriatric population are
expected to fuel market growth. As per the Indian Brand Equity Foundation, the medical tourism industry in India is
projected to expand rapidly and reach USD 9 billion by 2020.
The Middle East and Africa
have the least share of the global market for neuroendoscopy due to the
presence of weak economies, strict government policies, lack of knowledge, low
per capita income, and poor availability of healthcare services, primarily within
the African region. The majority of the neuroendoscopy market in the region is
dominated by the Middle East due to the existence of a well-developed
healthcare sector and huge expenditure on healthcare.
Competitive Analysis
The global players in the
neuroendoscopy market are B. Braun (Germany), Ackermann Instrumente (Germany),
Adeor Medical (Germany), KARL STORZ (Germany), Hangzhou Hawk Optical Electronic
Instruments (China), Clarus Medical (U.S.), Machida Endoscope (Japan), Tonglu
Wanhe Medical Instrument (China), Visionsense Corporation (U.S.), Schindler
Endoskopie (Germany), LocaMed (U.K), Olympus Corporation (Japan), Medtronic
(U.S.), Zeiss International (Germany), Stryker (U.S.), and others.
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