Neuroendoscopy Devices Market to Hit Around USD 429.15 Mn by 2034
The neuroendoscopy devices market size was exhibited at USD 281.15 million in 2024 and is projected to hit around USD 429.15 million by 2034, growing at a CAGR of 4.32% during the forecast period 2024 to 2034.
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Neuroendoscopy Devices Market Key Takeaways:
owing to the rising incidence of brain tumors and advancement in healthcare technologies. Moreover, the rising demand for minimally invasive surgical devices by healthcare professionals drives the market. In addition, neuroendoscopy is the most preferred surgery for brain tumors and other nervous system-related diseases. For instance, according to the National Brain Tumor Society, in the U.S., an estimated number of 79,340 adults aged 40 and above are expected to be diagnosed with a primary brain tumor in 2023.
The neuroendoscopy devices market has witnessed a notable surge in FDA approvals and the launch of innovative products, driven by advancements in medical technology and an increasing demand for minimally invasive procedures. Innovations in imaging technology enhance the precision and effectiveness of diagnostic and therapeutic interventions, leading to a wider range of options for healthcare providers and improved patient outcomes. For instance, in August 2024, ClearMind Biomedical Inc. received U.S. FDA 510(k) clearance for its Neuroblade neuroendoscopy system. This system facilitates minimally invasive procedures with integrated illumination, visualization, suction, irrigation, powered debridement, and coagulation.
Recent developments in technologies and advancements in neuroendoscopy devices are assisting surgeons and doctors in conducting brain and central nervous system-related surgeries. Innovative and advanced neuroendoscopy devices offer convenience, driving market growth. Furthermore, emerging technology and software systems assisting healthcare professionals, such as artificial intelligence and robots, are anticipated to drive market growth.
Neurological conditions are increasingly recognized as a major public health challenge. A recent study highlighted by WHO indicates that over one in three people globally are affected by neurological conditions, making these disorders the leading cause of illness and disability worldwide. This rising prevalence of neurological disorders, including epilepsy, hydrocephalus, stroke, degenerative spine disease, dementia, & migraines, poses significant challenges for healthcare systems and is driving innovation and demand in the neuroendoscopy devices market. For instance, according to The Leagrave Therapy Clinic UK, the percentage rate of severe degenerative disc disease rises to around 60% in 70-year-olds.
Furthermore, favorable government initiatives and reimbursement policies fuel the market growth. For instance, the Japanese health finance system depended on Fee For Service (FFS), wherein reimbursement was offered under a single country-wide schedule, which enabled the Japanese health finance system to contain brief information about prescribed drugs, procedures, and diagnostics.
Neuroendoscopy Devices Market By Product Insights
The rigid neuroendoscopes segment dominated the neuroendoscopy devices market in 2024 with a revenue share of 50.6%. A rigid neuroendoscope is a specialized instrument designed for examining and navigating the brain, characterized by its robust metal tube construction that offers advanced lenses and a light channel. This innovative device plays a crucial role in various neurosurgical procedures, such as tissue sampling from brain tumors, fluid removal from the brain's ventricles, and the treatment of conditions such as obstructive hydrocephalus, craniosynostosis, and skull base tumors. One of the major benefits of rigid neuroendoscopes is that they offer a high-quality, clear image that enhances visualization of inaccessible parts of the brain. Thus, such advantages provided by the neuroendoscopes boost the market growth.
Neuroendoscopy Devices Market By Application Insights
The transcranial segment dominated the neuroendoscopy devices market in 2024 with a revenue share of 38.7% and is anticipated to grow at the fastest rate over the forecast period. As the demand for precise and less invasive surgical techniques grows, transcranial neuroendoscopy is gaining traction. The ability to perform complex procedures with enhanced accuracy and reduced complication rates propels the adoption of these devices in surgical settings. With ongoing advancements in neuroendoscopic technology, the transcranial segment is expected to witness significant growth, driven by a shift toward minimally invasive approaches in neurosurgery.
Neuroendoscopy Devices Market By Usability Insights
The reusable segment dominated the neuroendoscopy devices market in 2024 with a revenue share of 93.3% and is anticipated to grow at the fastest rate over the forecast period, owing to low maintenance costs and rising demand for reusable neuroendoscopes. Reusable endoscopes are more robust and offer superior image quality due to their complex optical systems. In addition, reusable neuroendoscopes are more cost-effective and provide greater environmental sustainability by reducing medical waste.?
Neuroendoscopy Devices Market By End Use Insights
The outpatient facilities segment dominated the neuroendoscopy devices with a revenue share of 55.0% in 2024 and is anticipated to grow at the fastest rate over the forecast period. The growth is attributed to the rising number of neuroendoscopic surgeries and the growing popularity of Ambulatory Surgical Centers (ASCs). ASCs are modern healthcare facilities designed for outpatient facilities and are well equipped to perform minimally invasive surgeries such as brain tumors and other nervous system-related surgeries. Further, faster patient recovery and shorter hospital stays are expected to accelerate the growth of outpatient facilities during the forecast period.
Neuroendoscopy Devices Market By Regional Insights
North America neuroendoscopy devices market is dominated the neuroendoscopy devices market with a revenue share of 40.9% in 2024 and is expected to witness the fastest growth rate over the forecast period. The growth is attributed to the presence of favorable government initiatives and highly developed healthcare infrastructure. The rising capital expenditure and health insurance coverage in countries such as the U.S. and Canada is driving the region growth. For instance, health insurance coverage in the U.S. and Canada were around 90% & 70%, respectively, in 2023.
U.S. Neuroendoscopy Devices Market Trends
The neuroendoscopy devices market in the U.S. held the largest market share in 2024. The presence of well-developed healthcare infrastructure and advanced neuroendoscopic devices drives the market. The rise in the number of brain tumors in the country is accelerating the growth. For instance, according to the National Brain Tumor Society, statistics of 2023, 1 million Americans were expected to be diagnosed with brain tumors, and approximately 18,990 were expected to die from a malignant brain tumor in 2023.?
Europe Neuroendoscopy Devices Market Trends?
Europe neuroendoscopy devices market is anticipated to register a considerable growth rate during the forecast period. Favorable macro-environment factors drive key players to revise their market entry strategies through mergers & acquisitions and technological collaborations to expand their footprint. For instance, in January 2021, Olympus Corporation signed an agreement to acquire Quest Photonic Devices B.V. for USD 60.18 million (EUR 50 million). Quest Photonic Devices B.V., a Netherlands-based company, offers Fluorescence Imaging Systems (FIS) for open and minimally invasive procedures.
Germany neuroendoscopy devices market is anticipated to register a considerable growth rate during the forecast period. Factors such as cost reduction, time efficiency, and the need to control endoscopy-related infections are driving the demand for disposable neuroendoscopy devices. Single-use endoscopes eliminate the costs associated with sterilization procedures, leading to overall cost reduction in endoscopy procedures, as highlighted by KARL STORZ, a manufacturer of disposable endoscopes in Germany.?
Neuroendoscopy devices market in UK is anticipated to register a considerable growth rate during the forecast period the increasing number of patients suffering from intraventricular hemorrhage and brain tumors that require minimally invasive surgical procedures for diagnosis & treatment is contributing to market growth. According to the NHS report, over 12,000 individuals receive a diagnosis of a primary brain tumor in the UK annually, with approximately half being cancerous.?
Asia Pacific Neuroendoscopy Devices Market Trends?
The Asia Pacific region is anticipated to witness the fastest growth in the neuroendoscopy devices market over the forecast period. Key market players are developing strategies for expanding their business in this region. Growth in the region is expected to be driven by favorable initiatives undertaken by private players, such as training healthcare professionals and increasing R&D investments to develop advanced neuroendoscopes.?
Japan neuroendoscopy devices market dominated in 2024. The high prevalence of neurological diseases and consistent product advancements are some factors expected to drive the demand for neuroendoscopy procedures. In Japan, GBM is an uncommon cancer, representing 1.68 cases per 100,000 individuals annually. In addition, increasing demand for early diagnosis and treatment of diseases is expected to boost the market.?
Latin America Neuroendoscopy Devices Market Trends?
Latin America is witnessing steady growth in the neuroendoscopy devices market, owing to the growing preference for minimally invasive surgeries over open surgeries, and increasing awareness about the use of neuroendoscopes for various diagnostic & therapeutic procedures is expected to drive the market. This region offers lucrative growth opportunities for the medical device industry.?
Argentina neuroendoscopy devices market is anticipated to register a considerable growth during the forecast period. The availability of training centers for educating healthcare professionals regarding recent advancements in neuroendoscopes is boosting market growth. Moreover, continuous improvements in imaging and navigation systems further enhance the precision & safety of neurosurgical procedures, driving market growth.?
Middle East & Africa Neuroendoscopy Devices Market Trends?
The Middle East and Africa region are experiencing lucrative growth in the neuroendoscopy devices market. The market is gaining immense traction due to the increase in the number of hospitals, the growing geriatric population, and the rising demand for minimally invasive procedures.?
South Africa neuroendoscopy devices market is anticipated to register a considerable growth rate during the forecast period. South Africa has a well-developed healthcare sector focused on providing advanced medical services and technologies to its population. The need to deliver high-quality healthcare services, accurate diagnoses, and minimally invasive treatments is increasing the demand for neuroendoscopes in South Africa.?
Some of the prominent players in the neuroendoscopy devices market include:
Neuroendoscopy Devices Market Recent Developments
Segments Covered in the Report
This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2034. For this study, Nova one advisor, Inc. has segmented the neuroendoscopy devices market
Product
Application
Usability
End Use
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Regional
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