Neurovascular Devices Market 2018: Study on Prominent Players | Asahi Intecc Co. Ltd., Boston Scientific Corporation, Integer Holdings Corporation, Johnson & Johnson (Depuy Synthes), Kaneka Medix Corp., LivaNova, Medtronic, Microport Scientific Corporatio
Increasing adoption of minimally invasive surgical procedures is primary factor driving neurovascular devices market growth. Some of the advantages of minimally invasive surgeries such as smaller incision length, less discomfort, reduced blood loss during the surgery, and shorter hospitalization stay make it a preferable treatment option fueling industry expansion.
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Advancement in neurovascular technology such as stent retriever technology used for the treatment of ischemic stroke along with favorable government initiatives to develop healthcare infrastructure will accelerate market growth in the coming years.
However, high cost of neurovascular devices and dearth of neurosurgeons in the developing regions will hamper market growth in the future.
Embolic coils held over 30% of overall market size in 2017 followed by neurovascular thrombectomy devices. Increasing incidences of acute ischemic stroke with large artery occlusion along with development of novel solutions by industry players will foster neurovascular thrombectomy segment growth in the coming years.
Flow diverters will witness more than 3% CAGR over the coming years due to increasing prevalence of cerebrovascular diseases along with availability of various flow diverters used for treating patients with unruptured large intracranial aneurysms.
Coiling procedure dominated the market in 2017 by holding more than 35% of total market share owing to increasing demand for surgical procedures with minimum invasion catering to unmet medical needs of patients.
Stenting technique will witness over 4.5% CAGR over the forecast period due to increased adoption of carotid stents among neurosurgeons as an effective treatment option for ischemic strokes, aneurysm and stenosis. Neuroform, Solitaire, Enterprise, and Leo plus are among the popularly used stents in the market for stenting techniques to treat intracranial aneurysms.
Ischemic strokes accounted for more than 42% industry share and is expected to experience similar trend over the future years. Stenosis segment will witness considerable growth over the coming years owing to rising geriatric patients suffering from aortic stenosis that leads to surging demand for neurovascular devices.
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Hospitals accounted for more than 85% of the business revenue share in 2017. Increasing usage of neurovascular devices owing to rising number of advanced minimally invasive treatments performed in these facilities will propel segment growth.
U.S. neurovascular devices market size was around USD 480 million in 2017 and anticipated to surpass USD 600 million by 2024. Increasing incidences of Hemorrhagic stroke along with high adoption of technologically advanced products in the country will augment regional revenue size.
UK neurovascular devices market is well established and present excellent opportunities in future. Increasing geriatric population coupled with increasing prevalence of ischemic stroke and neurological disorders should drive future market growth.
China neurovascular devices market will witness 6% growth from 2018 to 2024. Increasing prevalence of neurological disorders along with large proportion of undiagnosed population will foster demand for neurovascular devices. Increasing geriatric patient pool along with favorable government initiatives to improve healthcare infrastructure are driving factors for industry growth.
Some of the key industry players operating in global neurovascular devices market are Medtronic, Penumbra, Terumo Corporation, Stryker and Johnson & Johnson (Depuy Synthes). The industry players resort to innovative product launch and strategic acquisition to strengthen their market foothold.
Chapter 1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
126.96.36.199. Paid sources
188.8.131.52. Unpaid sources
Chapter 2. Executive Summary
2.1. Neurovascular devices industry 3600 synopsis, 2013 - 2024
2.1.1. Business trends
2.1.2. Product trends
2.1.3. Process trends
2.1.4. Therapeutic application trends
2.1.5. End-use trends
2.1.6. Regional trends
Chapter 3. Neurovascular Devices Industry Insights
3.1. Industry segmentation
3.2. Industry landscape, 2013 – 2024
3.3. Industry impact forces
3.3.1. Growth drivers
184.108.40.206. Increasing number of brain aneurysm and ischemic strokes in U.S.
220.127.116.11. Rising demand for surgical procedures with minimum invasion
18.104.22.168. Advancement in process in developed regions
22.214.171.124. Government initiatives to modernize and expand healthcare infrastructure across the globe
3.3.2. Industry pitfalls & challenges
126.96.36.199. Need for designing more effective and low-cost treatments
188.8.131.52. Companies are facing challenges in commercialization across the developing economies
3.4. Growth potential analysis
3.4.1. By product
3.4.2. By process
3.4.3. By therapeutic application
3.4.4. By end-use
3.5. Regulatory & reimbursement landscape
3.6. Pricing analysis
3.7. Porter’s analysis
3.8. Competitive landscape, 2017
3.8.1. Company market share analysis,2017
3.8.2. Strategy dashboard
3.9. PESTEL analysis
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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