The neuroendoscopy devices market is anticipated to have an effective CAGR of 4.9% during the period of 2023 to 2033. The neuroendoscopy devices market is expected to expand from USD 214.5 million in 2023 to USD 345 million by 2033. Previously, the market grew at a rate of 4.0% from 2018 to 2022, culminating in a market of USD 204.4 million in 2022.
Growing brain tumor incidences worldwide, paired with technological advances, increase the growth of the neuroendoscopy devices sector.
In 2018, an estimated 23,820 brain tumors were reported in the USA as indicated by the American Society of Clinical Oncology (ASCO), many brain tumors are benign or non-malignant.
Moreover, brain tumors account for 86 to 90 percent of all primary central nervous system tumors. Therefore, the increasing prevalence of such ailments provides opportunities for market growth. Furthermore, about 3,720 pediatric tumor cases were registered in 2019.
The neuroendoscopy market has been moderately impacted by the COVID-19 pandemic. These devices are used to treat conditions of the central nervous system. Thus, as elective surgical procedures have been postponed, neuroendoscopy has been less utilized than usual and, therefore, less invested than usual.
There is a key restraint for the biomedical device market for neuroendoscopy due to the high cost of neuroendoscopy procedures & equipment. As a result, healthcare providers in developing countries like India, Brazil, and Mexico have low financial resources to invest in sophisticated and costly neuroendoscopy systems.
In addition, healthcare staff needs to be trained to properly manage and maintain sales of neuroendoscopy systems and equipment.
The development of the global neuroendoscopy devices sector is expected to be substantially affected by increased brain cancer incidence in the future.
This past April, Aesculap, Inc., a B Braun company, launched the MINOP neuroendoscopy product line. This innovative product launch helped to create a leadership position for the company in the market for neuroendoscopy devices.
North America recorded the leading revenue in 2018 and is projected to also witness significant growth throughout the forecast period. Key companies such as B Braun and Karl Storz have their headquarters in North America, which is one of the factors fueling the region's neuroendoscopy devices industry growth. Moreover, the increasing prevalence of acute pediatric brain tumors also further propels the region's market growth.
A large population of people over 65 years of age are at high risk of developing brain tumors; glioblastoma is the most common primary brain tumor prevalent among the elderly population; therefore, countries such as India and China, which have an increasing geriatric population, contribute significantly to the share of the neuroendoscopy device market.
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The neuroendoscopic devices market benefits from the rising incidence of brain tumors across the globe, as well as the technological advancements in neuroendoscopic devices.
The growth of abnormal cells in the brain is the hallmark of a brain tumor; some brain tumors are malignant, while others are benign. According to the American Society of Clinical Oncology (ASCO), in the United States, an estimated 23,820 cases of brain tumors were reported in 2019.
Moreover, about 86% to 90% of all cancers affecting the central nervous system are brain tumors. There are growth opportunities for the neuroendoscopy devices sector, in addition to the fact that approximately 3,720 pediatric tumor cases were recorded in 2019.
Thus, the aforementioned factors significantly stimulate market growth over the forecast period of 2018 to 2026. In addition, the increasing incidence of spinal cord injuries and trauma is another significant factor driving the growth of the neuroendoscopy devices business throughout the forecast period.
Key factors propelling market growth is the growing demand for neuroendoscopy devices across the globe. Technological advancements, such as fiber optics and imaging technologies, have led to impressive improvements in the field of neuroendoscopy, which has led to increased use of endoscopes in neurological procedures such as surgeries.
Neuroendoscopy procedures and equipment are extremely expensive, and this is a key restraining factor for the market.
The average list price of a neuroendoscopy system is around USD 10,000 to USD 15,000, healthcare providers in developing countries, such as India, Brazil, and Mexico, have fewer financial resources to invest in such expensive, sophisticated technologies. In addition, healthcare staff should receive training to ensure safe and efficient handling and maintenance of neuroendoscopy systems.
Since training costs for neuroendoscopy procedures are high, only a limited number of surgeons choose to undergo training in neuroendoscopy (Source: Journal of Surgical Simulation). Additionally, as a result of the high cost of equipment as well as the high training and maintenance costs, neuroendoscopy procedures are generally expensive. We consider this to be a critical factor holding back the growth of the neuroendoscopy devices market.
| Attributes | Details |
|---|---|
| Neuroendoscopy Devices Market CAGR (2023 to 2033) | 4.9% |
| Neuroendoscopy Devices Market Size (2023) | USD 214.5 million |
| Neuroendoscopy Devices Market Size (2033) | USD 345 million |
Principal Consultant
During the forecast period, the global neuroendoscopy devices market is expected to flourish due to an increase in brain tumor cases around the world.
Risk factors, such as radiation exposure and a family history of brain tumors, raise the probability of developing a brain tumor. Among Americans alone, over 23,000 cases of brain cancer were reported, and more than 165,000 people were diagnosed with tumors of the nervous system.
Consequently, an increase in the incidence of brain cancer significantly impacts the market for neuroendoscopy devices, providing opportunities in the neuroendoscopy devices sector.
Moreover, the aging population, which is prone to neurological disorders, is expected to contribute to the global market growth. There is also a growing awareness among the general public about the availability of effective treatment options for neurological illnesses, thereby strengthening the market growth. Due to this, neuroendoscopy surgeries are becoming more popular than conventional brain surgeries.
There are several neurostimulation devices, for example, that can send electrical impulses to specific sacral nerves and conduct deep brain stimulation.
The market is segmented according to product type into rigid endoscopes and flexible endoscopes. Owing to the growing demand for neuroendoscopy procedures across the globe, the rigid endoscope segment dominated the market with 70.1% share, thereby boosting the neuroendoscopy devices market.
A rigid endoscope is manufactured from metal tubes that contain light channels and lenses for diagnosis; these instruments have a series of high-resolution optical rod lenses for better visualization of inaccessible brain regions; rigid endoscopes are also among the oldest neuroendoscopy and are often used in surgery. Hence, the aforementioned factors further accelerate revenue growth in the neuroendoscopy devices sector.
Using the segmented data of the global moving supply market on the basis of material, product, price range, sales channel and end-user industries, analysis of the meager growth segments within the moving supply market and provide users with valuable market insight and market overviews of the neuroendoscopy devices industry.
Segmented by application type, the market is classified into transnasal neuroendoscopy, intraventricular neuroendoscopy, and transcranial neuroendoscopy; the transnasal neuroendoscopy segment is projected to hold a dominating share throughout the forecast period.
Neurosurgeons employ these procedures for a minimally invasive approach to the parasellar region, cavernous sinus, anterior cranial base, clivus, and craniovertebral junction, which is generally carried out for pituitary gland cysts and tumors, but it also be used for biopsies. Benefits associated with these procedures include enhanced visualization with high light intensity, as well as vivid displays of patho-anatomical details.
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| Country | Market Share (2022) |
|---|---|
| United States | 33.7% |
| Germany | 8.7% |
| Japan | 5.0% |
As a result of the growing prevalence of pituitary tumors across Europe, the neuro endoscopy market is expected to flourish.
A growing prevalence of pediatric brain tumors is expected to continue expanding the size of the market in North America. North America held the maximum revenue share in 2018 and is anticipated to grow significantly throughout the forecast period. The presence of key companies such as B Braun, Karl Storz, in North America is one of the factors propelling the regional growth of neuroendoscopy devices.
Another growth enhancing factor is the growing demand for minimally invasive procedures among the population. Therefore, it is clear that the aforementioned factors have substantially contributed to North America holding a dominant share of the neuroendoscopy devices market over the period of analysis.
Market analysts predict that Asia Pacific is likely to experience exponential growth from 2018 to 2026 in the neuroendoscopy devices sector.
With the increasing prevalence of brain tumors and an increase in the number of biopsies required by medical facilities, it boosts regional growth. Additionally, the developing economies of India, Vietnam and other countries see an increase of healthcare expenditures, further boosting the demand for neuroendoscopy in Asia Pacific.
A large population of people over 65 years of age are at high risk of developing brain tumors; glioblastoma is the most common primary brain tumor prevalent among the elderly population; therefore, countries such as India and China which have an increasing geriatric population contribute significantly to the neuroendoscopy device market.
The low visibility of minimally invasive neurosurgical procedures among the populations in the Middle East and Africa has resulted in a lack of segment shares in the region, despite the geographical expansion of the key players in recent years, which has stimulated the growth rate in the region.
Neuroendoscopy devices are manufactured and marketed by B. Braun, Karl Storz, Olympus Corporation, Stryker, Medtronic, Ackermann Instruments GmbH, Adeor Medical AG, Clarus Medical LLC, Machida Endoscope, Tonglu WANHE Medical Instrument, Hawk, Schindlerendoskopie Technologie GmbH, and others.
B. Braun, Aesculap, and Karl Storz are three of the most successful companies generating revenue from the neuroendoscopy devices market.
It holds a significant portion of the United States market for neuroendoscopy devices. The neuroendoscopy devices market is fragmented, with multiple startups entering the market over the past few years.
A novel product launch by Karl Stortz in December 2018 allowed the company to hold a strong position in the neuroendoscopy market as a result of the launch of the company's new 4mm endoscopic NIR/ICG fluorescence imaging system. This system assists neurosurgeons with minimizing the risks of surgery by improving techniques for minimally invasive neurosurgery.
Recent Developments
Key Players
The neuroendoscopy devices market is estimated to be worth USD 214.5 million in 2023.
The neuroendoscopy devices market is expected to have a CAGR of 4.9% by 2033.
The neuroendoscopy devices industry expanded at a share of USD 204.4 million in 2022.
North America expanded significantly in the neuroendoscopy devices business, with a share of 37.1% in 2022.
The neuroendoscopy devices sector is expected to have a valuation of USD 345 million by 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Surgery Type 5.1. Intraventricular 5.2. Transcranial 5.3. Transnasal 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Device Type 6.1. Rigid Neuroendoscopy 6.2. Flexible Neuroendoscopy 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 7.1. Hospitals 7.2. Medical Research Centers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Foncepi Comercial Exportadora Ltda 18.2. B. Braun 18.3. Karl Storz 18.4. Olympus Corporation 18.5. Stryker 18.6. Medtronic 18.7. Ackermann Instruments GmbH 18.8. Adeor Medical AG 18.9. Clarus Medical LLC 18.10. Machida Endoscope 18.11. Tonglu WANHE Medical Instrument 18.12. Hawk 18.13. Schindlerendoskopie Technologie GmbH 19. Assumptions & Acronyms Used 20. Research Methodology
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Neuroendoscopy Devices Market
