January 28, 2020
According to the research report titled ‘Neurovascular Devices Market Size By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), By Process (Neurothrombectomy, Cerebral Angiography, Carotid Endarterectomy, Stenting, Microsurgical Clipping, Coiling, Flow Diversion), By Therapeutic Applications (Brain Aneurysm, Stenosis, Ischemic Strokes), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, France, UK, Italy, Spain, Russia, Turkey, Netherlands, Belgium, Austria, Switzerland, Poland, Czech Republic, Hungary, Portugal, Greece, Romania, Bulgaria, Denmark, Sweden, Norway, Finland, Japan, China, India, Australia, Korea, Singapore, Hong Kong, Taiwan, Indonesia, Cambodia, Philippines, Vietnam, Malaysia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Competitive Market Share & Forecast, 2019 – 2025’, available at MarketStudyReport.com, the global neurovascular devices market is expected to cross USD 3 billion by 2025.
High occurrence of cerebrovascular diseases such as stenosis, brain aneurysm, and ischemic stroke is a major factor driving the neurovascular devices market growth. Increasing awareness pertaining to availability of treatment devices such as thrombectomy devices are also aiding the expansion of the market. Technological advancements regarding neurovascular devices are further stimulating the industry outlook. However, high costs and lack of awareness of such devices in emerging economies may hinder the market growth.
As per product type, embolic coils segment was worth USD 400 million in the year 2018 and is expected to register continuous growth during the forecast period. Increasing pervasiveness of neurovascular diseases coupled with easy availability of embolic coils of various shapes and sizes are fueling the segmental growth.
In terms of process type, neurothrombectomy segment held 10% revenue share in the year 2018. Shifting preferences towards advanced treatment options in tandem with increasing demand for neurothrombectomy procedures are augmenting the industry size.
Citing the end-use landscape, hospital segment is presumed to be worth USD 1.6 billion by the year 2025. Rising number of hospitalizations in tandem with favorable reimbursement policies for surgeries conducted in hospitals are key factors facilitating the business scenario.
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As per regional analysis, the report cites that North America neurovascular devices market accounted for USD 800 million in the year 2018 and is poised to amass commendable gains in the ensuing years. Evolving lifestyles, escalating healthcare expenditure, high presence of key industry players and rising demand for high quality treatment options are propelling the growth of North America neurovascular devices industry.
Terumo Corporation, Stryker, Penumbra Inc., MicroPort Scientific Corp., Medtronic, LivaNova PLC, Kaneka Medix Corp., Johnson & Johnson Services Inc., Integer Holdings Corp., Boston Scientific Corp., and Asahi Intecc Co. Ltd. are the prominent companies operating in the neurovascular devices market.
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