Global neuroendoscopy market is expected to witness sustainable growth owing to rising prevalence of cancer, spinal cord and brain disorders, along with increasing demand for minimally invasive procedures. Neuroendoscopy is generally used to perform surgical procedures such as biopsies, obstructions, ventriculostomies and removal of cysts & tumors. As stated by American Brain Tumor Association, one of the major reasons of cancer related deaths globally is brain tumor , especially in children younger than the age of 20. It is also stated that approximate 700,000 people are suffering from brain tumor in the U.S. Moreover, increasing incidences of life threatening colloid cysts are anticipated to propel market growth over coming seven years. Increasing awareness about treatment of brain related diseases especially in the developing economies is expected to additionally fuel the market growth over the forecast period. However, presence of substitute treatment such as gamma life surgeries, chemotherapy and radiation therapy are anticipated to restrain the growth of neuroendoscopy market over the forecast period
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Rigid endoscope product segment dominated the entire market with largest market share as of 2014. Higher procedural success rate and efficiency for removal of brain tumors are the factors leading to the growth of rigid endoscope market. However, insufficient reimbursement policies and price intensive nature of these equipments are anticipated to be the growth impeding factors for this market over next seven years. Geographically, North America held the largest market share, followed by Europe as of 2014. Increasing incidences of brain tumors along with rising implementation of minimally invasive procedures by various healthcare practitioners as a cost containment measure are the key factors fueling the growth of the market in North America. Asia Pacific is anticipated to be the fastest growing region over coming seven years owing to increasing disposable income, huge untapped opportunities and improvising healthcare infrastructure in this region.
The global neuroendoscopy market is competitive in nature, consisting of few players holding more than two third of the market share. Major players operational in the market include Karl Storz, Adeor and Aesculap. Other companies notable in the market include ConMed, Covidien, Medtronic and Richard Wolf. Various companies are adopting collaborative strategy with Asian Pacific imaging and optical expert companies in order to gain revenue share in the market such as Fuji, Olympus and Sony etc. thereby boosting the growth of neuroendoscopy market.
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