The Neurovascular Device Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- November 21, 2022
- HEALTHCARE
- Neurovascular Device Market, Neurovascular Device Market Growth, Neurovascular Device Market Share, Neurovascular Device Market Size, Neurovascular Device Market Trends
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The neurovascular devices market is expected to witness a CAGR of around 8% during the forecast period. Neurovascular devices also called interventional neurology devices are widely used in the treatment and diagnosis of various types of peripheral and central nervous system disorders and ailments such as the rising prevalence of neurological disorders, cerebral aneurysms, strokes, and epilepsy. These all factors will drive the growth of this market during the forecast period. For instance, according to the Centers for Disease Control and Prevention (CDC), IN 2020, about 87% of strokes are ischemic strokes in which the flow of the blood towards the brain is blocked and brain cells die in the aged people
During the COVID-19 pandemic, the neurovascular device takes sharp growth as there was a limitation imposed by the government on free movement and travel, the shutdown of the manufacturing unit, and limitations on manufacturing and distribution of medical equipment. Furthermore, the healthcare facilities were only treating emergency cases and postpended the inessential appointments.
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Based on device, the market has been categorized into aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, support devices, neuro thrombectomy devices, and others. Amongst these, the aneurysm coiling & embolization devices category is expected to witness significant growth during the forecast period. Owing to, the increasing prevalence of neurological conditions, new product advancements, and research & development programs by the major companies. these factors will boost the growth of this market during the forecast period. For instance, in 2019, Medtronic announced the launch of the Solitaire X revascularization device used for the removal of blood clots in the brain.
Based on therapeutic application, the market has been segmented into ischemic strokes, cerebral aneurysms, carotid artery stenosis, arteriovenous malformations and fistulas, and others. Among them, the cerebral aneurysms category is expected to have the fastest growth rate in the market This is mainly due to the increasing brain injuries, cerebral disorders, and rising prevalence of hypertension in the geriatric population are the major factors for the growth of this market during the forecast period. For instance, according to the Brain Aneurysm Foundation, an estimated 6 million Americans are affected by cerebral aneurysms.
For a detailed analysis of the neurovascular device market browse through – https://univdatos.com/report/neurovascular-device-market/
Based on end-user, the market has been segmented into hospitals & surgical centers, ambulatory surgical centers, and others. Among them, the hospitals & surgical centers segment is expected to have the fastest growth rate in the market mainly due to the availability of neurovascular devices, skilled healthcare professionals, and the safety & efficacy during the treatment procedures. Moreover, the growing patient pool suffering from neurovascular diseases such as brain aneurysms, and arteriovenous malformations are also contributing to the growth of this market during the forecast period. For instance, according to the Brain Aneurysms Foundation, about 30,000 people in the United States suffer a brain aneurysm rupture each year.
For a better understanding of the market, the report provides a detailed analysis of major regions and countries including North America (U.S., Canada, Rest of North America); Europe (Germany, U.K., France, Spain, Italy, Rest of Europe); Asia-Pacific (China, India, Japan, Rest of Asia-Pacific) and Rest of World. North America holds a lucrative market share owing to higher per capita income and the rising hospital administration, growing healthcare expenditure, and the availability of major key players in the region attributed to the growth of the market in the regions. Moreover, the growing patient pool in hospitals with neurological disorders is also contributing to the growth of this market in the region. For instance, according to the Centers for Disease Control and Prevention (CDC), every year, more than 795,000 people in the United States have a stroke. About 610,000 of these are first or new strokes.
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Some of the major players operating in the market include Stryker Corporation, Medtronic plc, Johnson & Johnson, Terumo Corporation, Penumbra Inc., Microport Scientific Corporation, Medikit co. Ltd., Integers Holding Corporation, BALT Group, Kaneka Corporation
Neurovascular Device Market Segmentation
Market Insight, By Device
- Aneurysm coiling & embolization devices
- Cerebral balloon angioplasty & Stenting systems
- Support devices
- Neurothrombectomy devices
- Others
Market Insight, By Therapeutic Application
• Ischemic Strokes
• Cerebral Aneurysm
• Carotid Artery Stenosis
• Arteriovenous Malformations and Fistulas
• Others
Market Insight, By End-User
- Hospitals & surgical centers
- Ambulatory Surgical centers
- Others
Market Insight, By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- Stryker Corporation
- Medtronic plc
- Johnson & Johnson
- Terumo Corporation
- Penumbra Inc.
- Microport Scientific Corporation
- Medikit co. Ltd.
- Integers Holding Corporation
- BALT Group
- Kaneka Corporation
