Market Trends of Neuroendoscopy Industry
This section covers the major market trends shaping the Neuroendoscopy Market according to our research experts:
The Rigid Neuroendoscope Segment is Expected to Show Better Growth in the Forecast Period
Flexible neuroendosocpes are optic instrument that transmits light and carries images back to the observer through flexible transparent fibers and is used to inspect and treat interior portions of the body. Several advantages associated with flexible neuroendoscopy are expected to drive the demand for flexible neuroendoscopes. One of the primary advantages of flexible neuroendoscopes is that their geometry is not fixed and can be paved along a curved trajectory. Flexible endoscopes provide visibility of the internal side of the organ, which generally cannot be seen with a normal view. According to the study titled, '' Efficacy analysis of flexible neuroendoscopy combined with dry-field techniques in the treatment of chronic subdural hematoma'', published in June 2019, a flexible endoscopy device was used for chronic subdural hematoma (CSDH). The study revealed that flexible neuroendoscopy was efficient in combination with dry-field techniques (DFTs) in the treatment of CSDH patients.
Furthermore, as per a study titled. 'New perspectives in the endoscopic treatment of brain purulent collections: targets, techniques, results in a case series, and overview of the literature', published in May 2020, showed that flexible endoscopy in the treatment of purulent intracranial infections was effective. Such studies are expected to support market growth. The presence of technologically advanced products in the market is further expected to accelerate the market growth. For instance, ''flexible video neuro endoscope'' developed by Karl Storz GmbH is used in the treatment of hydrocephalus. It is the only Food & Drug Administration-approved video neuroendoscopes. Such products are expected to impact market growth positively.
Therefore, with the above-mentioned factors, the market is expected to boost in this segment.
North America is Estimated to Dominate the Neuroendoscopy Market
North America currently dominates the market and is expected to continue the same trend. The neuroendoscopy market is mainly driven by factors such as rising government initiatives and the increasing prevalence of neurological disorders.
In the United States, the risk of being affected by a neurodegenerative disease is increasing dramatically, with the rising geriatric population, as per the National Institute of Environmental Health Sciences. This indicates that most Americans may be affected by neurodegenerative diseases in the coming decades. As per the data of the United States Census Bureau, in 2019, about 54 million Americans are aged 65 years and above. Furthermore, according to the Alzheimer's Association, more than 5.8 million Americans suffer from Alzheimer's disease as of 2020.
Furthermore, as per the analysis of 2020 by the Central Brain Tumor Registry of the United States, in 2013-2017, the incidence rate of brain tumors (malignant and non-malignant) was recorded to be about 23.79 cases per 100,000, with the total count of nearly 415,411 incident tumors. In addition, the rising preference of people toward minimally invasive surgery as it cause less post-operative pain is also expected to boost the demand for neuroendoscopes in the market studied. The increasing product approvals are also expected to thrive in the market in this region. For instance, in January 2021, the United States Food and Drug Administration approved Axonpen System designed by ClearMind Biomedical. It is a novel neuroendoscopes that is used in the visualization of intracranial tissue and fluids and the controlled aspiration of tissue and/or fluid during surgery. Thus, with the rising burden of neurological disorders along with the rising preference for minimally invasive surgeries and technological advancements with respect to new products, it is expected to contribute to market growth.
