Selbyville, Delaware, Dec. 20, 2019 (GLOBE NEWSWIRE) --
Global Neuroendoscopy market is anticipated to surpass USD 250 million by 2025, according to a new research report by Global Market Insights, Inc. The advantages associated with neuroendoscopic devices will drive the market growth over analysis period.
Increasing number of brain tumor cases worldwide will result in augmenting the demand and adoption rate of neuroendoscopy surgical procedures, thereby propelling the neuroendoscopy industry growth. Several risk factors such as exposure to radiation and family history of brain tumors has surged the risk of brain tumor across the globe. Brain tumor is an abnormal growth of tissue specifically in central spine and brain that can disrupt the normal brain function. Various types of tumors such as acoustic neuroma, astrocytoma, glioblastoma, meningioma, craniopharyngioma and glioma among others will further increase the number of neurosurgery procedures. Furthermore, rapid increase in brain tumor cases in Asian countries such as India, Japan, China and Singapore among others will pave market growth opportunities in the region. Hence, rising brain and central nervous system cancer cases will have a significantly positive impact on the industry growth.
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The product segment is bifurcated into rigid and flexible neuroendoscopes. Rigid neuroendoscopes segment was valued at around USD 120 million in 2018 and is projected to witness lucrative growth opportunities over the analysis timeline. Rigid endoscopes are instruments that are extensively used during endoscopic procedures to investigate the internal body organs with the help of a tubular telescope. Moreover, increasing application of rigid neuroendoscopes in intraventricular neuroendoscopy will foster the segmental growth.
Some major findings of the neuroendoscopy market report include:
- Recent advancements and innovations in minimally invasive technologies has resulted in increase in number of minimally invasive neurosurgeries across the globe
- Technological innovations and developments in manufacturing of novel neuroendoscopy devices will boost the market growth in near future
- Increasing use of minimally invasive instruments such as neuroendoscopes has allowed surgeons to reduce morbidity during the surgical procedures by reducing the need for large surgical incisions
- Growing geriatric population is one of the primary factors driving the neuroendoscopy market growth
Application segment covers transnasal neuroendoscopy, intraventricular neuroendoscopy and transcranial neuroendoscopy. Transnasal neuroendoscopy segment is anticipated to witness around 25.1% revenue share during forthcoming years. Transnasal neuroendoscopy is indicated for use in endoscope-assisted micro-neurosurgery and pure neuroendoscopy. It is widely used for direct visualization, diagnosis and therapeutic procedures including removal of cysts and tumors. Additionally, improvements in surgical instrumentation further allows neurosurgeons to treat more complex surgeries through customized less invasive approaches. Therefore, rising applications of transnasal neuroendoscopy surgical procedure will accelerate the industry progression.
Browse key industry insights spread across 222 pages with 535 market data tables & 20 figures & charts from the report, “Neuroendoscopy Market, Industry Analysis Report, Regional Outlook, Price Trends, Application Potential, Competitive Market Share & Forecast, 2019 – 2025” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/neuroendoscopy-market
Usability segment of neuroendoscopy market is classified based on reusable neuroendoscopes and disposable neuroendoscopes. Disposable neuroendoscopes segment will exhibit 5.5% CAGR during the analysis period owing to increasing demand for disposable neuroendoscopes over the reusable ones. Disposable neuroendoscopes are sterile and possess lower risk of patient infection that enhances the segmental demand. Moreover, development of temporary disposable neuroendoscopes for brain and central nervous system surgeries will augment the neuroendoscopy business growth.
Patient segment is further divided into adult and pediatric. The pediatric segment was valued at around USD 25 million in 2018 and is estimated to witness substantial growth during analysis period. Medulloblastomas, astrocytomas, ependymomas and brainstem gliomas are the most common tumor types occurring among children that boosts the neuroendoscopy industry growth. Additionally, presence of qualified pediatric neurosurgeons in developed countries to efficiently diagnose children’s health proves beneficial for the business growth.
End-use segment covers hospitals, ambulatory surgical centers (ASCs), diagnostic centers and others. ASCs are anticipated to witness over 20% revenue share in 2018. ASCs offer several benefits as compared to hospitals and diagnostic centers such as shorter hospital stay, well-equipped devices and low risk of developing hospital acquired infection. Also, presence of skilled healthcare professionals coupled with rising number of neuro surgeries will fuel the segmental growth.
Asia Pacific neuroendoscopy market accounted for around USD 30 million in 2018. The rising awareness among individuals regarding the neuroendoscopy procedures to effectively diagnose patient health will enhance the business growth. Also, growing healthcare expenditure in developing countries of Asia Pacific will promote the regional growth.
Some of the notable industry players operating in neuroendoscopy market are Clarus Medical, B. Braun, KARL STORZ, adeor medical, Ackermann Instrumente, Schindler endoskopie technologie, Tonglu WANHE, Machida Endoscope and HAWK. The industry players undertake different organic and inorganic growth strategies to maintain the market competition. For instance, KARL STORZ maintains its financial stability by developing superior quality neuroendoscopy devices. The firm has established secured presence in neuroendoscopy industry, thus further enhancing the product range of the firm.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.