Global Neuroendoscopy Devices Market Grows at a Staggering CAGR of 7.4%

The Global Neuroendoscopy Devices Market size was valued at $ 143.52 million in 2021, and is projected to reach $ 264.97 million by 2030, registering a CAGR of 7.05 % from 2022 to 2030. Neuroendoscopy is a minimally invasive surgical procedure frequently used to remove tumours. The excision is carried out through microscopic openings in the skull, such as the mouth or nose. In neuro endoscopic procedures, a tiny telescopic device with a high-resolution video camera and an eyepiece is utilised. This permits neurosurgeons to investigate and access previously inaccessible brain regions during traditional surgery. Other advantages of neuro endoscopy include quick recovery and minimal scarring. The increasing prevalence of brain cancer is a significant driving factor for the neuro endoscopy market. According to a study published in the Neuro-Oncology Journal, the incidence rate for all types of brain tumours worldwide was roughly 10.82 per 100,000 people. In addition, an increase in demand for minimally invasive surgical treatments, a growing geriatric population, and favourable reimbursement policies are expected to fuel market expansion during the forecast period. As per to the National Institutes of Health, the global senior population is projected to triple between 2022 and 2030, from 126.5 million to 446.6 million by 2050. Nevertheless, a shortage of physicians and the high cost of neuro endoscopic treatments and equipment are anticipated to impede market growth throughout the projection period. According to the Association of American Medical Institute, physician demand has continued to outpace the supply. The shortfall of physicians is anticipated to range between 61,700 to 94,100 by 2030. Market Dynamics Globally Increasing Incidence of Brain Tumors: The development of abnormal brain cells is one of the distinguishing features of a brain tumour. There are various forms of brain tumours, some cancerous and others not. The American Society of Clinical Oncology (ASCO) predicts that 23,820 people are diagnosed with brain tumours in the United States. In addition, 86 and 90 % of all primary central nervous system tumours are brain tumours. Consequently, the increasing prevalence of such illnesses will generate new opportunities for the neuro endoscopic equipment market. In addition, roughly 3,720 cases of paediatric cancer were documented. Consequently, the previously mentioned factor will play a crucial role in accelerating the market's growth substantially between 2022 and 2030. The increased occurrence of spinal cord injuries and other traumatic injuries is another significant factor leading to the growth of the neurology endoscopic equipment market. Increasing Neuroendoscopic Device Innovation: The increased demand for neuro endoscopic equipment worldwide, which is mainly related to the technological advancements of these products, is one of the primary factors driving the market growth. Neuro endoscopy has made tremendous progress thanks to recent advances in imaging and fibre optics technologies. As a result of these technological advances in neuro endoscopic devices, endoscopes are now widely employed in neurological treatments. In addition, advancements in surgical equipment and neuroimaging techniques have made neuroendoscopy less intrusive, increasing the product's demand. Therefore, the factors mentioned earlier will serve as a significant development driver for the neuroendoscopy devices market. In addition, the growing number of firms commercialising neuroendoscopes and the increasing number of private players entering the market for neuroendoscopy devices would contribute to the industry's expansion. An increase in brain tumour cases worldwide: The global market for neuroendoscopy devices is expected to develop over the forecast period as the incidence of brain tumours rises worldwide. Risk factors that enhance the likelihood of developing a brain tumour include radiation orientation and a family history of brain tumours. Approximately 23,000 occurrences of brain cancer and over 165,000 cases of nervous system malignancies have been reported in the United States alone. Consequently, growth in brain cancer occurrence would considerably impact the market for neuroendoscopy equipment, offering opportunities in this industry. In addition, the ageing population, vulnerable to neurological issues, is expected to contribute to expanding the global neuroendoscopy devices market. In addition, there is a growing knowledge among the general public regarding the availability of suitable treatment options for neurological illnesses, which supports market growth. Therefore, neuroendoscopy techniques are becoming more common than conventional brain surgery. Several neurostimulation devices can send electrical impulses to specific sacral nerves and perform deep brain stimulation. Regional analysis of the Global Neuroendoscopy Devices Market  The most developed market is North America, with Europe being the market with the second most development. Both the creation of innovative medical technologies and an increase in the number of persons who are being diagnosed with pituitary tumours are factors that are contributing to the expansion of these markets. The neuroendoscopy industry in the United States is the most lucrative in the whole wide world. The benefits of these operations, such as utilising a technique that involves a small amount of invasion and enables patients to make a faster recovery, are among the key reasons that have contributed to the spread of these procedures across the country. Because there is still untapped development potential in the Asia-Pacific area, namely in the countries of Japan, China, and India, it is projected that the market in this region will experience substantial expansion shortly. The introduction of mandatory healthcare insurance accelerated technological progress, and increased expenditure on healthcare are some factors driving the expansion of the market in the Asia Pacific region. Other factors that are driving the industry's expansion include. Key highlights The Global Neuroendoscopy Devices Market size was valued at $ 143.52 million in 2021, and is projected to reach $ 264.97 million by 2030, registering a CAGR of 7.05 % from 2022 to 2030. In 2021, the intraventricular segment was responsible for most of the revenue share. Rigid neuroendoscopes hold the highest market share in terms of revenue. The most developed market in North America, while Europe comes second. Competitive players in the global Neuroendoscopy Devices market The major players in the global Neuroendoscopy Devices market – KARL STORZ (Germany), B. Braun (Germany), Ackermann Instrumente (Germany), Adeor Medical (Germany), Hangzhou Hawk Optical Electronic Instruments (China), Machida Endoscope (Japan), Tonglu Wanhe Medical Instrument (China), Schindler Endoskopie (Germany), Clarus Medical (US), LocaMed (UK), and Visionsense Corporation (US). Recent Developments by key players In May 2022, KARL STORZ Keeps Growing: Groundbreaking Ceremony Marks the Construction Start of Two New Production Buildings in Germany. In March 2022, B. Braun acquires Intermedt Medizin & Technik GmbH, a specialist in the preparation of dialysis concentrates. In March 2022, Adeor medical AG and ENT University Hospital Cologne, Germany entered a reference clinic agreement. In January 2022, B. Braun expands footprint in Vietnam with ground-breaking of new factory. The Global Neuroendoscopy Devices Market Segmentation Surgery Type Intraventricular Transcranial Transnasal Device Type Rigid Flexible Application Hospitals Medical Research Centers Regional North America Europe Asia Pacific LAMEA