Neuroendoscopy Market Size, Share & Segmentation By Surgery (Intraventricular, Transcranial, Transnasal), By device type (Rigid Neuroendoscopes, Flexible Neuroendoscopes), By Application (Hospitals, Medical Research Centers), By Region and Global Forecast 2023-2030

Neuroendoscopy Market Report Scope And Overview:

The Neuroendoscopy Market size is projected to grow from $151.07 million in 2023 to $237.05 million by 2031, at a CAGR of 5.8% during the forecast period.

The rising number of brain tumor cases worldwide and the rising need for minimally invasive surgical procedures are driving up demand for neuroendoscopy. These medical devices are primarily utilized in the treatment of conditions like hydrocephalus, bleeding, intraventricular hemorrhage, and pituitary tumors. Consequently, the market is expanding due to the steady increase in the prevalence of pituitary tumors and intraventricular hemorrhage.

Conventional brain surgical techniques, like craniotomies, involve a full skull opening and are intricate and invasive. There is a significant chance of stroke, bleeding, blindness, deafness, and occasionally even death with these procedures. A minimally invasive procedure's chance of developing the conditions listed above is low. Due to neuroendoscopy's minimally invasive nature, demand for the procedure is rising steadily.

MARKET DYNAMICS

Drivers

• Growing Technological Advancements Made by Industry Participants

Technological advancements are driving a significant trend in the market growth rate. The growing inclination towards minimally invasive surgical procedures has prompted the advancement of sophisticated neuroendoscopy technologies. Surgeons can now operate with increased precision and accuracy thanks to a number of developments in endoscopy imaging and visualization systems. Neuroendoscopic surgery visualization has also been enhanced by the advent of 4K ultra-high-definition monitors and 3D endoscopy technologies. This element thus promotes market expansion.

• Demand for Flexible Neuroendoscopes Is Growing

The demand for flexible neuroendoscopes is expected to increase due to the many benefits of flexible neuroendoscopy. The fact that flexible neuroendoscopes have unstable geometry and can be paved along a curved trajectory is one of their main advantages. Take Karl Storz GmbH's "flexible video neuroendoscope," which was created to treat hydrocephalus. It is the only video neuroendoscope that the Food and Drug Administration (FDA) has approved. Thus, market expansion is a result of this factor.

Restraint

• Inadequate Professionals in Developing Nations, Exorbitant Surgical and Device Expenses

The lack of qualified neuroendoscopy professionals in developing nations has stunted the market's expansion. Approximately 23,300 neurosurgeons were needed to treat the more than 5 million neurosurgical cases that were currently in existence, according to a recent study that was published in the Journal of Neurosurgery.

Medical institutions favour conventional methods due to the high costs of devices, which hinders the growth of the industry. Additionally, patients are forced to choose alternative treatments due to the high cost of minimally invasive neurosurgery, which hinders the market's growth. An endoscopic third ventriculostomy can cost up to $2200, per an NCBI study.

Opportunities

• Growing Numbers of Brain Tumor Cases

Due to an increase in brain tumor cases worldwide, the market is anticipated to expand during the forecast period. For both, brain and other nervous system cancer ranks as the tenth most common cause of death. Primary cancerous brain and central nervous system tumors are predicted to cause 18,990 deaths in the United States in 2023. Radiation exposure and a family history of brain tumors are the main risk factors. The growing number of brain tumors necessitates the extensive use of neuroendoscopy, which will aid in accurately identifying and assessing the tumor. This element thus promotes market expansion.

• Hospital Neuroendoscopy Demand Is Rising

The demand from hospitals for neuroendoscopy is high, and this trend is anticipated to continue throughout the forecast period. This is because more patients are having neuroendoscopy procedures performed in hospitals, and there is a greater need for infrastructure and specialized medical staff. The market is growing because there are more hospitals and operating rooms performing neuroendoscopy procedures. Thus, market expansion is a result of this factor.  

Challenges

• Adverse Events Linked to Neuroendoscopy

Neuroendoscopy has a number of side effects that can hinder the market. These procedures can result in subdural hematomas, pneumocephalus, subdural hygromas, and damage to the hypothalamus and basilar artery. Additionally, a number of side effects, like bleeding, infections, or anesthesia-related reactions, hinder market expansion. As a result, these elements impede market expansion.

IMPACT OF RUSSIAN UKRAINE WAR

Millions of civilians are displaced and vital infrastructure is destroyed as a result of the conflict in Ukraine, and the demand for neurosurgical care has skyrocketed. To date, it is unknown how this armed conflict will affect neurosurgery practice.

Already, 57% of the participants have been made to perform surgery on patients who are not specialists in their field. Of those who reported war-related trauma to the central nervous system, 78% identified traumatic brain injury (TBI) as the most common Surgery, while 22% reported spinal cord injuries as the most common. Ninety-six participants said they had no ongoing contact with their Russian neurosurgical colleagues, two said they had, and four denied the answer when asked.

The attacks partially injured the Ukrainian neurosurgeons personally, made them work in unfavorable environments, and caused them to perform procedures outside of their usual scope of practice.

IMPACT OF ECONOMIC DOWNTURN

When the economic crisis first started, vulnerable populations with the least access to healthcare would be the ones most negatively impacted by EU countries' attempts to contain their health and social spending.

Numerous issues have been brought about by economic crises in developing nations. A decline in economic growth, a drop in real household income and tax revenues, and a decline in tax revenues are some of the effects of an economic crisis at the national and individual levels. These effects are most pronounced in the Eastern Mediterranean region, where the economic crisis is concomitant with political crises.

MARKET SEGMENTATION

By Surgery

• Intraventricular

• Transcranial

• Transnasal

Intraventricular segment accounted for the largest revenue share in 2022. B.Braun Medical Inc. and Medtronic are a few leading companies that offer intraventricular neuroendoscopy devices. Increasing cases of intraventricular hemorrhage and bleeding, and availability of technically advanced products are some of the key factors propelling the demand for these devices. Transcranial segment is expected to grow at the fastest CAGR during the forecast period of 2023-2030. Increasing cases of pituitary gland tumors, hydrocephalus, and macroadenomas are anticipated to accelerate the growth of the segment.

By Device type

• Rigid

• Flexible

Diseases like hydrocephalus, intraventricular tumours, and cystic lesions are treated with rigid neuroendoscopes. Consequently, rising rates of these illnesses fuel market expansion. Furthermore, there are versions of these devices that are smaller and lighter. As a result, there is a greater need for these devices, particularly when performing intraventricular surgeries.

The largest revenue share is accounted for by rigid neuroendoscopes. Most manufacturers depend on the inflexible neuroendoscopes. Diseases like hydrocephalus, intraventricular tumours, and cystic lesions are treated with rigid neuroendoscopes. The Hydrocephalus Association of the U.S. states that 1 to 2 out of every 1000 newborns has hydrocephalus. Thus, the need for rigid neuroendoscopes is driven by the increasing prevalence of these diseases.

By Application 

• Hospitals

• Medical Research Centers

A few of the factors driving the market growth are the government's numerous initiatives, the establishment of institutions to encourage the use of neuroendoscopy, and the rising R&D spending of the major players.

Hospitals hold the highest revenue share in the overall application segment. Because neuroendoscopy offers advantages like precise access to the target site, which is located in the interior parts of the brain, and minimally invasive procedures, hospitals are favoring it. Hospitals also record the highest number of neuroendoscopies performed annually because they have highly qualified personnel, neurosurgeons, and state-of-the-art emergency medical facilities. Hospitals are therefore the biggest sources of income.

REGIONAL ANALYSIS

The most developed market is in North America, which is followed by Europe. These markets are expanding as a result of rising pituitary tumor incidence and technological developments in the healthcare industry. Globally, the United States represents the largest market for neuroendoscopy. The benefits of these procedures, like the minimally invasive technique that allows patients to recover more quickly, are some of the main drivers behind their widespread use in the nation.

The Asia Pacific market is anticipated to experience substantial growth due to the abundance of unexplored growth prospects in the region, particularly in China, India, Japan, and other countries. Some of the factors propelling the growth of the Asia Pacific market are increased healthcare spending, greater technological advancements, and mandatory health insurance.

REGIONAL COVERAGE

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of the Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America

KEY PLAYERS

Some of the major key players of the Neuroendoscopy market are adeor medical AG (Germany), KARL STORZ SE & Co. KG (Germany), Medtronic (Ireland), B. Braun SE (Germany), Stryker (U.S.), Boston Scientific Corporation (U.S.), CONMED Corporation. (U.S.), Arthrex Inc. (U.S.) and other players.

adeor medical AG (Germany)-Company Financial Analysis

Recent Trends in the Neuroendoscopy Market

• The leading manufacturer of surgical equipment in Germany, Adeor Medical AG, and the international therapy-enabling platform company, ClearPoint Neuro Inc., partnered strategically and commercially in 2021. The objective was to provide delivery and navigation to the brain.

• In August 2022, a team of American scientists discovered that neuroendoscopy can be a highly effective treatment option for patients with brain abscesses, yielding impressive outcomes. When compared to other Surgerys of methods, neuroendoscopic treatments for patients with brain abscesses have a greater number of curative effects, fewer complications, and a faster rate of post-operative recovery.

• Evonos successfully showcased its evoDrill and evoFrame products during Neuroendoscopy Week 2021 at the Medical Centre of the Saarland University in Homburg-Saar, Germany, in September 2021. Evonos thinks that the neuroendoscopic and neurosurgical fields will progress with the successful demonstration of its products.