Significant improvements have been made in the field of neurosurgery recently, with a special emphasis on minimally invasive procedures. Neuroendoscopy is one such method that has completely changed the industry. Using specialised equipment, neuroendoscopy enables surgeons to visualise, identify, and treat a variety of neurological diseases with little to no invasiveness. This blog article will examine the Neuroendoscopy Devices Market in depth, highlighting its development, major factors, and promising future developments.
A neuroendoscope, a thin equipment containing a light source and a high-resolution camera, is used during neuroendoscopy. To access the brain or spinal cord, it is introduced through tiny incisions or natural orifices, including the nasal passage. The camera’s real-time visualisation allows surgeons to precisely navigate intricate anatomical structures.
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From 2023 to 2033, the market for neuroendoscopy devices is projected to grow at an effective CAGR of 4.9%. By 2033, the market for neuroendoscopy devices is projected to have grown from US$ 214.5 million in 2023 to US$ 345 million. In the past, the market expanded at a 4.0% annual rate from 2018 to 2022, reaching a peak of US$ 204.4 million in that year.
Globally, neurological conditions like intracranial cysts, hydrocephalus, and brain tumours are on the rise. In comparison to open surgery, neuroendoscopy is less invasive, resulting in fewer problems, shorter hospital stays, and quicker recovery times. As a result, there has been a noticeable increase in the demand for neuroendoscopy equipment.
Key Takeaways:
- The neuroendoscopy devices market is predicted to develop at a CAGR of 7.5% in the intraventricular surgery section of the surgery type category.
- In the United States, the neuroendoscopy devices market is estimated to reach US$ 122.5 million by 2032, rising at a CAGR of 7.4% throughout the forecast period.
- By 2032, the neuroendoscopy devices market in the United Kingdom is expected to be valued US$ 14.1 million, with a CAGR of 6.3% through 2032.
- With a CAGR of 6.9% throughout the forecast period, China is expected to reach a market size of US$ 28.4 million in neuroendoscopy devices market by 2032.
- By 2032, the neuroendoscopy devices market in Japan is estimated to be worth US$ 20.0 million, growing at an annual rate of 5.9% through 2032.
- With a CAGR of 5.2% throughout the forecast period, South Korea is predicted to reach a market size of US$ 12.5 million in neuroendoscopy devices market by 2032.
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Competitive Landscape:
Companies that have developed new products to increase their market share among consumers are also adopted by leading companies. It is these strategies that have led to the development of the neuroendoscopy devices market.
Globally, B. Braun, Aesculap, and Karl Storz are few of the top companies in terms of neuroendoscopy devices sales.
Neuroendoscopy devices market is fragmented in nature as multiple startups have entered the market in recent years as well as major players such as 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.
Recent Development:
- One of Aesculap’s latest additions to its neuroendoscope line was the MINOP neuroendoscope. The company subsequently consolidated its position as a major force in the neuroendoscopy devices market.
- Due to its new product launch in December 2018, KARL STORZ was able to hold a strong position in neuroendoscopy with its new 4 mm endoscopic NIR/ICG fluorescence imaging system.
- The system is designed to help neurosurgeons enhance minimally invasive neurosurgery techniques, therefore, the new system assisted doctors to enhance their skills in this field.
Key segments
By Surgery Type:
- Intraventricular
- Transcranial
- Transnasal
By Device Type:
- Rigid Neuroendoscopy
- Flexible Neuroendoscopy
By Application:
- Hospitals
- Medical Research Centers
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