The rise in the incidence rate of neurological disorders, increasing acceptance of neuro endoscopic surgery

NEW YORK , NEW YORK, UNITED STATES, September 22, 2021 /EINPresswire.com/ -- The global neuroendoscopy market is forecast to reach USD 278.2 Million by 2027, according to a new report by Reports and Data. Neuroendoscopy can be defined as a type of brain surgery that is minimally invasive. It enables surgeons to reach areas of the brain which are beyond reach in traditional surgery. It also allows the elimination of tumors without the requirement of a large incision in the skull; rather, tumors are eliminated through nose, mouth, or with the help of a small window through the skull. The medical process is performed with the help of an endoscope that is a flexible, small tube with a small set of surgical instruments and a camera attached to it. The process is also applicable in removing a tissue sample for advanced testing i.e., biopsy. Types of brain tumors that are usually treated with the help of the process are Pineal region tumors, Skull base tumors, Pituitary tumors, Ventricular tumors, and Rathke's cleft cysts. It is mentionable here that the expanding healthcare market in developing regions, increasing acceptance of neuro endoscopic surgery over conventional brain surgery due to its advantages like minimally invasive and rise in incidence rate of neurological disorders is contributing to the continuous growth of the market.

In regards to region, Europe can be seen to occupy a prominent market share. The market share held by the region is attributed to expanding healthcare sector and high incidence rate of neurological disorders.

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Key participants include

Braun Melsungen AG, Karl Storz GmbH & Co.Kg, Adeor Medical AG, Ackermann Instrumente GmbH, Machida Endoscope Co., Ltd., Hangzhou Hawk Optical Electronic Instruments Co., Ltd., Schindler Endoskopie Technologie GmbH., Tonglu Wanhe Medical Instrument Co., Ltd., Locamed Ltd, and Clarus Medical.

Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.

The report has gather vital information about recent mergers and acquisitions, joint ventures, collaborations, partnerships, brand promotions, R&D activities, and government and corporate deals, among others through extensive primary and secondary research. The report also offers detailed analysis of each competitor along with their financial standing, global market position, product portfolio, manufacturing and production capacity, and business expansion plans.

The report offers a comprehensive overview of the regional bifurcation of the market with respect to market share, market size, revenue growth, import/export, production and consumption patterns, macro and micro economic growth factors, regulatory framework, investment and funding opportunities, and presence of key players in each region including North America, Asia Pacific, Latin America, Europe, and Middle East & Africa. The report offers a country-wise analysis to further discuss the revenue growth and lucrative growth opportunities for the Neuroendoscopy market in these key regions.

Further key findings from the report suggest

• The Neuroendoscopy market held a market share of USD 180.6 Million in the year 2018 that is forecasted to grow at a rate of 4.9% during the forecast period.

• In context to Product Type, the Rigid Neuroendoscopes segment generated a higher revenue of more than USD 119.2 Million in 2018, with a CAGR of 4.4% during the forecast period. Affordable pricing and smaller size of rigid neuro endoscopes results in its elevated preference and revenue generated by this segment. Advancements in rigid videoscopes and fibrescopes that allows visualization also results in its high demand in intraventricular neuroendoscopy that also contributes to the revenue generated by this segment.

• In context to Usability, the Disposable Neuroendoscopes segment generates a higher revenue of USD 112.0 Million in 2018, with a CAGR of 5.4% during the forecast period. The revenue generated by the Disposable Neuroendoscopes segment is attributed to lower cost of Disposable Neuroendoscopes as compared to Reusable Neuroendoscopes along with other advantages like reduced risk of infection, which results in its increasing preference in the healthcare sector.

• In context to Application, the Transcranial Neuroendoscopy segment is projected to witness the fastest growth rate of 5.4% during the forecast period, which is expected to occupy 23.0% by 2027. The rising application of Neuroendoscopy in the treatment and diagnosis of larger tumors, along with advancements in preoperative imaging, contributed to the growth rate witnessed by this segment.

• In regards to End-user, the Hospitals segment held the largest market share of 49.0% in 2018, with a CAGR of 5.0% during the forecast period. The market share held by the Hospitals segment is attributed to facilities like insurance coverage to care users, state-of-the-art facilities along with the presence of experienced neurosurgeries in hospitals, which results in its higher preference among care users.

• In regards to the region, Asia Pacific is projected to witness the fastest growth rate of 5.4% during the forecast, which is expected to hold 9% of the market by 2027. The growth rate witnessed by the region is resultant of elevating demand for Neuroendoscopy in this region along with expanding healthcare market, which is supporting the growth of the market in this region.

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For the purpose of this report, Reports and Data have segmented the global Neuroendoscopy market, according to Product Type, Usability, Application, End-user, and Region:

Product Type Outlook (Revenue, USD Million; 2016-2027)

• Flexible Neuroendoscopes
• Rigid Neuroendoscopes

Usability Outlook (Revenue, USD Million; 2016-2027)

• Disposable Neuroendoscopes
• Reusable Neuroendoscopes

Application Outlook (Revenue, USD Million; 2016-2027)

• Transcranial Neuroendoscopy
• Transnasal Neuroendoscopy
• Intraventricular Neuroendoscopy

End-user Outlook (Revenue, USD Million; 2016-2027)

• Hospitals
• Ambulatory surgical centers
• Diagnostic centers
• Others

Regional Outlook (Revenue, USD Million; 2016-2027)

• North America
• Europe
• Asia Pacific
• MEA
• Latin America

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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