Global Neuroendoscopy Devices Industry to experience a revolutionary 4.9% CAGR, transforming the field of neurology by 2033 | FMI

It is expected that from 2023 to 2033, the global neuroendoscopy devices industry size would grow at an actual CAGR of 4.9%. From US$ 214.5 million in 2023 to US$ 345 million by 2033, the market for neuroendoscopy devices is anticipated to grow. Previously, from 2018 to 2022, the market expanded at a 4.0% annual pace, reaching a peak of US$ 204.4 million in that year.

One of the key reasons driving market development is the rising demand for neuroendoscopy devices due to their growing technical improvements. Neuroendoscopy has significantly advanced thanks to developments in fiber optics and imaging. Endoscopes are now often used in neurological treatments due to advancements in neuroendoscopy equipment.

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Due to its sophisticated technology, the neuroendoscopy industry is in its infancy. Nonetheless, because of these gadgets’ continuing technical developments, the market is anticipated to expand significantly throughout the projected period. Another significant factor driving the growth of the neurology endoscopic devices market during the forecast period is the rising prevalence of brain tumors globally.

The occurrence of acute pediatric brain tumors is rising, which causes the market in North America to grow even more. Another aspect promoting expansion is the population’s increasing need for minimally invasive procedures.

Key Takeaways:

• By 2033, the neuroendoscopy devices market in the United Kingdom is likely to expand, with a CAGR of 4.2%.
• In 2022, the United States developed the neuroendoscopy devices business with a share of 33.7%.
• The neuroendoscopy devices market grew considerably to US$ 204.4 million in 2022.
• The neuroendoscopy devices market expanded with a CAGR of 4.0% between 2018 to 2022.
• By 2033, China’s neuroendoscopy devices market is projected to develop with a CAGR of 7.4%.
• By 2033, India’s neuroendoscopy devices industry is projected to expand with a CAGR of 6.1%.
• Japan’s neuroendoscopy devices industry grew significantly, with a 5.0% share in 2022.
• Australia’s neuroendoscopy devices market is likely to expand with a CAGR of 5.4% by 2033.
• Germany’s neuroendoscopy devices business grew, with a share of 8.7% in 2022
• In 2022, based on device type, rigid neuroendoscopy dominated the market, with a share of 70.1%.
• In 2022, the hospitals’ segment led the market, with a share of 52.5%, based on end use.

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Key Players’ Strategies and Recent Developments:

Because neuroendoscopy techniques are less invasive, the market for such devices is growing quickly. Also, increasing efforts by the main competitors in the market to introduce cutting-edge neuroendoscopy for various neurological operations promote revenue growth throughout the forecast period.

• The Axonpen System, a cutting-edge neuroendoscopy, was given the go-light by the United States Food and Drug Administration in January 2021, according to ClearMind Biomedical.
  • This neuroendoscopy allows for the controlled aspiration of tissue and fluid during surgery and lighting and imaging of intracranial tissue and fluids.
  • Thanks to this regulatory permission, the firm expanded its research and development skills and broadened its product offering.
• Adeor Medical AG and ClearPoint Neuro, Inc., a global therapy-enabling platform provider that offers guidance and delivery to the brain, announced their strategic alliance in August 2021.
  • This relationship included ClearPoint Neuro, Inc.’s United States distribution of medical tools and supplies used in neurosurgery.
  • The organization expanded its clientele and boosted sales thanks to this strategic relationship.

• Foncepi Comercial Exportadora Ltda
• B. Braun
• Karl Storz
• Olympus Corporation
• Stryker
• Medtronic
• Ackermann Instruments GmbH
• Adeor Medical AG
• Clarus Medical LLC
• Machida Endoscope
• Tonglu WANHE Medical Instrument
• Hawk
• Schindler Endoskopie Technologie GmbH
• Others

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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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