Neurovascular Devices Market | 2018 Key Players | ohnson & Johnson (Depuy Synthes), Penumbra, Medtronic, Stryker and Terumo Corporation

Neurovascular Devices Market to exceed USD 2 billion by 2024 as per a new research report.

Increasing accessibility of technologically progressive carotid artery stents crossways major markets, uprising private-public research funding to develop new innovative products, high prevalence of stenosis and growing adoption of balloons among neurosurgeons will fuel the growth of neurovascular devices market.

Neurovascular devices market growth is most likely to be hindered by dearth of skilled neurologists, stringent government regulations for the approval of innovative devices and unfavorable regulatory scenario for designing low cost as well as more effective treatments, which is most likely to result in increased pricing pressure on key neurovascular device manufacturers.

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The embolic coils command the major market share in the product type segment, owning to their widespread usage in the treatment of cerebral embolization and strokes. Strokes contribute to the largest market under the therapeutic application segment. Per WHO, strokes are the major cause of frailty and death across the globe accounting for the large customer base. Hence, expanding the global demand for neurovascular devices.

Per American Heart Association, nearly 5% of the population is presently suffering from brain aneurysm. It can cause slight to severe brain damage. Therefore, their treatment is contributing to the increased demand for neurovascular devices.

The stenting systems has the potential to address complex natured aneurysms, hence, the stenting systems and cerebral angiography will exhibit an impressive growth pattern over the forecast years.
North America neurovascular devices market commands the largest market share, owing to increased adoption of interventional neurovascular devices by neurologists’ due to the technological sophistication, large presence of device manufacturers.

Europe neurovascular devices market accounted for the second largest market after North America. U.K. neurovascular devices market will witness significant growth due to increasing prevalence of ischemic stroke, obesity and growing geriatric population. According to Stroke association statistics, every 13 minutes an individual die of stroke in UK. Growing demand for minimally invasive procedures, technological advancements pertaining to neurovascular devices and modernization of healthcare infrastructure will boost market growth.

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APAC neurovascular devices market is the most rapidly growing geographic segment, owing to the ongoing government initiatives to streamline & expansion of healthcare infrastructure as well as increasing awareness among neurosurgeons associated with the benefits offered by interventional neurology devices and decreasing prices of neurovascular devices in Asia-Pacific region.

Japan neurovascular device market will inhabit more than 40% of the Asia-Pacific neurovascular devices market sales by 2024, owing to low cost production facilities coupled with increasing penetration of healthcare insurance and economic prosperity.

Some key industry players are Johnson & Johnson, Stryker, Terumo, Medtronic, Abbott Laboratories, Merit Medical Systems, W. L. Gore & Associates, Microport Scientific Corporation, and Medikit Co and Penumbra, which are strengthening their market position by focusing on research activities to develop naive cost-effective technologies.

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This release was published on openPR.