December 06, 2019
According to the research report titled ‘Neurovascular Devices Market to 2027 - Global Analysis and Forecasts by Product (Neurothrombectomy Devices, Aneurysm Coiling & Embolization Devices, Cerebral Balloon Angioplasty & Stenting Systems and Support Devices), Application (Cerebral Aneurysms, Ischemic Strokes, Arteriovenous Malformation & Fistulas and Other Applications); and End User (Hospitals, Ambulatory Surgical Centers and Specialized Clinics) and Geography’ available at MarketStudyReport.com, the global neurovascular devices market was worth US $2,919.41 million in 2018 and is expected to grow with a CAGR of 3.2% during the period of 2019-2027, hence reaching US $3,878.51 million by the year 2027.
For the record, neurovascular diseases are treated with minimally invasive procedures which are conducted by inserting a small device in body through anatomical opening or an incision.
Surging popularity of minimally invasive treatments and growing occurrences of neurovascular disorders are driving the growth of neurovascular devices market for the forecast period. Minimally invasive procedures have multiple benefits including less muscular and nervous trauma, lesser pain, less bleeding & scarring, and lesser hospital stay among others. All these features, along with rising geriatric population, availability of medical reimbursement are augmenting the demand for neurovascular devices across the globe. However, inflated prices for embolization coils and scarcity of skilled professionals are hindering the growth of the neurovascular devices market.
As per product type, neurovascular device market is categorized into aneurysm coiling & embolization devices, neurothrombectomy devices, support devices, and cerebral balloon angioplasty & stenting systems. According to the report, aneurysm coiling & embolization devices segment is presumed to register significant growth over the forecast period, since it is widely used in neurology.
Based on application spectrum, the market is classified into cerebral aneurysms, arteriovenous malformation & fistulas, ischemic strokes, and others. On the basis of end user scope, the market is bifurcated into ambulatory surgical centers, hospitals, and specialized clinics.
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Considering the geographical landscape, the global neurovascular devices market is divided into regions namely, North America, Central & South America, Europe, Middle East & Africa, and Asia Pacific.
The major companies operating in the neurovascular devices market are Medtronic Plc, Johnson and Johnson Services Inc. (DePuy Synthes), Stryker Corp., Penumbra Inc., MicroPort Scientific Corp., Terumo Corp., Acandis GmbH & Co. KG., Memry Corp., Integer Holdings Corp., and Phenox GmbH.
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