December 02, 2020
According to the recent study on ‘Neuroendoscopy Market Size By Product, By Application, By Usability, By Patient, By End-use Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2025’, available with Market Study Report LLC, global neuroendoscopy market is anticipated to amass USD 250 million by the year 2025.
Surging prevalence of brain tumors, along with rising geriatric populace are primarily driving the growth of global neuroendoscopy market. Brain tumor is caused due to exposure to radiations and can also occur because of genetic history. Different types of tumors include glioma, craniopharyngioma, meningioma, glioblastoma, astrocytoma, and acoustic neuroma.
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Escalating cases of cancers related to brain and central nervous system, in consort with inclination towards minimally invasive procedure eliminating the need for large surgical incisions, and technological advancements are propelling neuroendoscopy industry size.
Based on product terrain, rigid neuroendoscopes segment accounted for USD 120 million in 2018 and is poised to grow substantially over the analysis timeframe, owing to extensive usage of this device in intraventricular neuroendoscopy procedure.
Moving on to application scope, global neuroendoscopy market from transnasal neuroendoscopy is reckoned to record 25.1% revenue share by the year 2025, as the approach is utilized for diagnosis, direct visualization, and therapeutic procedures like removal of cysts and tumors. Enhancements in surgical instrumentations which enable less invasive treatments is further propelling the segmental share.
As per usability, disposable neuroendoscopes segment is estimated to grow with a CAGR of 5.5% over the forecast timeframe, cites the report. Disposable equipment are sterile and minimize the risk of cross-infection.
Speaking of patient class, worldwide neuroendoscopy market size from pediatric segment was valued at USD 25 million in 2018 and is touted to amass modest revenues over the forthcoming years, pertaining to increasing cases of brainstem gliomas, ependymomas, astrocytomas, and medulloblastomas among children. Availability of skilled pediatric neurosurgeons is also spiking the revenues.
Elaborating on end-use spectrum, ambulatory surgical centers contributed 20% share to global neuroendoscopy market revenues in 2018. The segmental growth is credited to benefits of these settings such as well-equipped infrastructure, shorter stay, and lesser susceptibility to HAIs.
Regionally, neuroendoscopy market in Asia Pacific was remunerated at USD 30 million in 2018 and is anticipated to grow momentously over 2019-2025, attributable to increasing awareness regarding the benefits of neuroendoscopy procedures and escalating healthcare expenditure in the region.
Major players influencing global neuroendoscopy market trends are Tonglu WANHE Medical Instrument Co. Ltd., Hangzhou Hawk Optical Electronic Instruments Co. Ltd., adeor Medical AG, Schindler Endoskopie Technologie GmbH, Machida Endoscope Co. Ltd., Karl Storz SE & Co. KG, Clarus Medical LLC, B. Braun Melsungen AG, and Ackermann Instrumente GmbH.