Neuroendoscopy Devices Market to Reach USD 204.4 Million by 2026; Rising Popularity of Minimally-invasive Neuroendoscopy Procedures to Augment Growth

The global neuroendoscopy devices market size is anticipated to reach USD 204.4 million by 2026 owing to increasing incidences of brain cancer, brain tumor, and others. This information is presented in a recently published report by Fortune Business Insights™. The report is titled, “Neuroendoscopy Devices Market Size, Share & Industry Analysis, By Product Type (Rigid Neuroendoscopes, Flexible Neuroendoscopes), By Application Type (Transnasal Neuroendoscopy, Intraventricular Neuroendoscopy, Transcranial Neuroendoscopy), By End User (Hospitals, Specialty Clinics, Others) and Regional Forecast, 2019-2026.” According to this report, the market was worth USD 117.5 million in 2018 and is prognosticated to exhibit a CAGR of 7.12% between 2019 to 2026.

The 2019 Statistics of ASCO Indicates a Significant Growth in Future Market

The American Society of Clinical Oncology (ASCO) states in their 2019 report that an estimation of 23,820 brain tumor cases was reported in the U.S. In addition to this, brain tumor accounts for about 86 to 90% of all primary central nervous system tumors. Therefore, the rise in prevalence of brain tumors is a major factor propelling the neurology endoscopy devices market growth in the forecast duration.

ASCO also mentions an estimate of 3,720 pediatric tumor cases were registered in 2019. This will also help augment the growth of the market in the coming years.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/neurology-endoscopy-devices-market-100692

Rise in Spinal Cord Injury and Trauma Cases to Boost Market

The advent of minimally-invasive neuroendoscopy procedures is a major factor propelling the overall neurology endoscopy devices market growth. This, coupled with the development of neuroimaging techniques, surgical apparatus, and fiber optics for diagnostic procedures, will also help the market gain traction. Furthermore, the rise in cases of spinal cord injuries and the increasing number of trauma cases will also boost the overall market in the forecast period.

On the contrary, high cost related to this surgery may pose a major neuroendoscopy risk factor and cause hindrance to the market in the forecast duration. Additionally, the major expense related to neuroendoscopy devices and maintenance may also hamper the overall growth of the market in the future.

Nevertheless, the increasing rate of the aging population and their vulnerability to various health issues, especially chronic ailmentsis expected to help the market gain impetus.

Heavy Investments by Players in Research and Development of Novel Therapeutics Will Intensify Market Competition

The increasing success rate of neurosurgery has propelled its demand worldwide. Thus, new players are entering the market and this is intensifying the overall competition. The competitive landscape of the neuroendoscopy devices market is fragmented in nature, attributable to the aforementioned factor. With respect to market revenue, Karl Storz and B. Braun are holding majority of shares, especially in the U.S. Companies are making huge investments in research and development of novel technologies and this will collectively help the market reach remarkable heights in the future.

Major industry developments of the Neurology Endoscopy Market include:

• December 2018 – The 4 mm Endoscopic NIR/ICG Fluorescence Imaging System was launched by KARL STORZ for setting a new standard of care in minimally invasive neurosurgery. This system enables a live view of the structural landmarks to present below the surface of the tissue with the help of near-infrared imaging (NIR) for THE detection of indocyanine green (ICG), the agent used for optical imaging given to the patient at the time of the procedure.

Key Neuro Endoscope Market Manufacturers include:

• Tonglu WANHE Medical Instrument


• Nevro Corporation


• Schindlerendoskopie technologie GmbH


• HAWK


• Ackermann Instrumente GmbH


• KARLSTORZSE & Co. KG


• Adeor medical AG


• Clarus Medical LLC


• Machida Endoscope


• B. Braun Aesculap


• Others

Further Report Findings

• North America emerged as the region with the highest neuroendoscopy devices market share with a revenue of USD 56.4 million in 2018. This is owing to the prevalence of acute pediatric brain tumors in the region and the increasing demand for minimally invasive neuroscopy procedures in the region.


• Asia Pacific will witness promising growth on account of the rising prevalence of brain tumors and the rising number of biopsies in the region. Moreover, the rise in the disposable incomes of people and the increasing expenditure on healthcare facilities will help this region grow significantly in the future.


• With respect to segmentation by application, the Transnasal neuroendoscopy segment is holding a dominant share and further anticipated to continue the same. This is attributable to the rise in the number of transnasal neurosurgeries performed across the globe. These procedures are performed for removing tumors, and cysts, and assist neurosurgeons in approaching cavernous sinus, clivus, craniovertebral junction, parasellar region, and anterior cranial base in a minimally invasive nature as compared to other procedures.

The global neuroendoscopy devices market is segmented into: