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The global neuroendoscopy devices market is expected to reach USD 203.9 million by 2025, according to a new report by Grand View Research, Inc. Demand for neuroendoscopy is increasing due to global rise in number of brain tumor cases and growing adoption of minimally invasive surgical procedures.
Conventional surgical procedures of brain such as craniotomy is invasive which includes opening of the skull of the patient. This increases the risk of associated conditions such as stroke or hemorrhage, blindness, deafness and in some cases death. Such high risks associated with the conventional surgical procedures of brain are resulting in replacement by adoption of minimally invasive endoscopic procedures. In addition, increasing cases of pituitary tumors and increasing prevalence of brain cancer is supporting the growth of the market. Few companies engaged in neuroendoscopy manufacturing are B. Braun Medical Inc., Karl Storz, Olympus Corporation, Zeiss International, Stryker, and Medtronic
Further Key findings from the study suggest:
- Rise in the brain injuries, and neural surgeries coupled with adoption of minimally invasive procedures is driving the growth of the market
- Intraventricular segment accounted for the largest revenue share in 2016 mainly due to constantly increasing incidences of the intraventricular hemorrhage and bleeding
- Transcranial surgery segment is expected to grow at the fastest growth rate owing to the factors such as increasing cases of pituitary gland tumors and technological advancements
- Rigid neuroendoscopes being light weight and small in size are preferred over flexible ones. However, flexible endoscopes segment is expected to grow at the fastest growth rate during the forecast period.
- Maximum number of neuro-endoscopic procedures are performed in hospitals. Thus, the segment accounted for the largest revenue share in 2016 and is anticipated to remain dominant throughout the forecast period.
- North America and Europe dominated the market together in 2016. Availability of advanced healthcare infrastructure and high adoption of advanced techniques are some of the prime factors resulting in the highest adoption of neuroendoscopy procedures in these regions.
- Key players in the market include B. Braun Medical Inc., Karl Storz, Olympus Corporation, Zeiss International, Stryker, and Medtronic.