The neuroendoscopy market size surpassed USD 187 million in 2018 and is projected to achieve over 4.8% CAGR during the forecast period 2020-2026. Factors such as favorable government initiatives, rising prevalence of neurological disorders, and increasing benefits of neuroendoscopic surgery are driving the market growth.
The first neuroendoscopic surgery was performed in 1910 to treat hydrocephalus with limited success. Crude instruments and poor illumination impeded the progress. New technology such as fibreoptic has advanced the field of neuroendoscopy by providing bright and high-resolution endoscopes. These advancements have renewed the interest of neurosurgeons in the field, and now these products are considered in neuro-oncology for sampling and excising tumours. As sophistication of devices continues to grow, the market will flourish.
Neuroendoscopes remove tumours through smaller incisions in the skull, mouth, or nose and reduce surgical trauma. Additionally, the use of modern diagnostic tools, visual equipment and surgical instruments will enhance patient health. Hence, an increase in preference for minimally invasive surgical procedures will foster the market growth in the coming years. Advancements and innovations in minimally invasive technologies have resulted in the rise of number of surgeries using such technologies. These factors will augment the demand and adoption of neuroendoscopies, enhancing the neuroendoscopy procedure market over the forecast period. Moreover, these devices will see application in hydrocephalus treatment as alternatives to shunts, thereby fostering the market expansion.