Neurovascular Devices Industry Overview
The global neurovascular devices market size was valued at USD 2.84 billion in 2022 and is anticipated to expand at a CAGR of 6.01% during the forecast period. The neurovascular devices market is likely to be driven by the increasing prevalence of neurological illnesses, technological developments, and increased demand for minimally invasive procedures.
Interventional neurology devices are used to diagnose and treat central nervous system and brain vascular disorders. Endovascular, catheter-based procedures, angiography, and fluoroscopy are all part of the interventional neurology. Catheter angiography is one of the oldest in-vivo brain vascular imaging techniques used to diagnose a variety of neurological diseases including cerebral aneurysm, arteriovenous malformations, intracranial stenosis, arteriovenous fistula, and vasculitis.
Gather more insights about the market drivers, restrains and growth of the Neurovascular Devices Market
Increase in incidences of neurological disorders such as brain/ cerebral aneurysm, strokes, epilepsy amongst many others in several countries is expected to drive the neurovascular devices market growth. According to the NHS England, around 1 in 12,500 people in England have ruptured brain aneurysm every year. Furthermore, brain aneurysm affects approximately 3.0% of the persons in the U.K.. Furthermore, the Brain Aneurysm Foundation estimates that 6.0 million Americans are impacted by brain aneurysms each year.
Every year, the disease kills half a million people globally. Approximately 40.0% of ruptures result in death and approximately 66.0% of those who survive has some permanent brain damage. Thus, the rapidly and vast growing patient population base for the target diseases across the key markets is primarily responsible for the significant volume consumption of neurovascular devices, leading to the market growth.
A slew of potential new technologies, merger and acquisitions in the neurovascular space are on the horizon. For instance, in October 2022, the Medtronic Neurovascular Co-Lab Platform was created to help speed much-needed innovation in stroke treatment and care. Their community platform aims to transform ideas and technology into breakthrough global medicines by giving entrepreneurs and physicians with insight and care, and, most importantly, ensuring that innovation reaches as many people as possible around the world. As a result, the availability of new treatment choices and an expanding variety of tactics will drive up demand for the neurovascular devices in the coming years.
Minimally invasive surgeries are gaining popularity owing to the reduced risk and trauma associated with these procedures. Smaller incisions decrease postoperative pain and facilitate speedy recovery leading to high adoption of these procedures and triggering growth of R&D in this field. Several key players are investing in R&D for the launch of innovative minimally invasive surgical instruments. The endovascular coiling used for the treatment of intracranial aneurysm is one of the minimally invasive procedures that are widely recommended by the physicians. In this procedure, a microcatheter is inserted in the groin area through the artery consisting an aneurysm. Platinum coils are then released as the coil promotes clotting of aneurysm and prevents blood from entering other regions of the brain.
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Key Companies profiled:
- Medtronic
- Johnson and Johnson Services Inc.
- Penumbra, Inc.
- Micro port Scientific Corporation
- Stryker
- Microvention Inc. (Terumo Corporation)
- Codman Neuro (Integra Life sciences)
Order a free sample PDF of the Neurovascular Devices Market Intelligence Study, published by Grand View Research.
The global Neurovascular Devices Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the neurovascular devices market include Heat Map Analysis of Private Companies, Abbott, W. L. Gore & Associates, Inc., Johnson & Johnson, Medtronic, Merit Medical Systems, Inc., MicroPort Scientific Corporation, Penumbra, Inc., Stryker and Terumo Medical Corporation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Neurovascular Devices Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/neurovascular-devices-market/download-sampleMarket DynamicsThe prominent drivers driving the development of the market is the thriving prevalence of strokes across the world.
The other major factors propelling the growth include a swelling number of patients, continuous product improvement, favorable medical compensation, and rising market demand for productive neurovascular devices.
Further, increasing researches for the improvement in neurovascular treatments, along with the expanding awareness among surgeons regarding minimally intrusive surgical methods deliver considerable growth chances in the market.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
