Business Insights on Neurovascular Devices Market by Technology, Latest Trends, Market Dynamics and Future Growth to 2023

Global Neurovascular Devices Market that predicts the growth of this market between 2017 and 2023, with 8.8% CAGR. This report talks about the market scenario and future prospects regarding growth. In this report, the global neurovascular devices market has been segmented on the basis of end-user, product, therapeutic application, and lastly region.

These devices have been developed due to demand for minimally invasive procedures. There has never been a dearth of neurovascular patients. Therefore, the global neurovascular devices market has huge scope for growth. Factors contributing to the growth of this market include favorable reimbursement policies, and ongoing product development & commercialization.

Majority of the market players are focusing on the acquisitions, product launches, and distribution agreements. It was estimated that the NHS spent approximately USD 6.6 billion on neurological conditions from 2012-2013. It is reported that the average cost for the treatment of neurovascular devices using flow diversion is estimated to be about USD 24,650.

Problems related to the nervous system are serious. They cannot be seen easily, and their therapies usually lie in surgeries where patients and doctors need to decide which surgeries are more invasive and which are less invasive. Neurovascular devices are necessary for treating neurovascular diseases. These devices have been developed due to demand for minimally invasive procedures. There has never been a dearth of neurovascular patients. Therefore, the global neurovascular devices market has huge scope for growth. Factors contributing to the growth of this market include favorable reimbursement policies, and ongoing product development & commercialization.

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key players in the global neurovascular devices market include Abbott Laboratories (USA), Blockade Medical LLC. (France),  Delaware Corporation (USA), Evasc (Canada), Gynesonics (USA), Johnson & Johnson Services, Inc. (the USA), Medikit Co., Ltd. (Japan), Medtronic (USA), Merit Medical Systems Inc. (USA), MicroPort Scientific Corporation (China), Neuravi (Israel), OxfordEndovascular (UK), Penumbra, Inc. (USA), Rapid Medical (Israel), Sensome (France), Secant Group LLC (USA), Stryker (USA), Terumo Corporation (Japan), and W. L. Gore & Associates, Inc. (USA).

regional segmentation of the global neurovascular devices market comprises of The Americas (North America & South America), Europe, Asia Pacific, and Middle East & Africa (MEA) region. The Americas dominate the global neurovascular devices market due to a large number of patients suffering from neurovascular diseases like arteriovenous malformations (AVMs) and brain aneurysm. Due to technological advancement, high disposable income, and the availability of better medical facilities, North America is the bigger market than South America. Moreover, increasing healthcare expenditure, government aid to researches in the field of medical sciences and the presence of the key players in North America boosts the growth of the market in North America. Majority key players in this region are based in the United States of America (USA).

Europe holds the second largest share in global neurovascular devices market. Increasing prevalence of the neurovascular diseases and the presence of a well-developed healthcare sector are the major factors that drive the market growth in this region. Due to reasons same as The Americas, Western Europe market is bigger than Eastern Europe. In Europe, most of the key players in this market are based in France and the United Kingdom (UK).

In the Asia Pacific region, the biggest markets are Australia, China, India, Japan, and South Korea, followed by the rest of Asia Pacific. MEA region is a small market due to political instability in most countries due to movements like Arab Spring. Lack of technology and less investment in healthcare due to healthcare not being considered a priority by governments in this region are the reasons for a small market. The biggest markets in this region are Kuwait, Oman, Saudi Arabia, Qatar, and United Arab Emirates (UAE), followed by rest of MEA region.

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On the basis of the end-users, this market has been segmented into ambulatory surgical units and hospitals & clinics. Ambulatory surgical units work for ambulatory surgery centers (ASC) that are also known as outpatient surgery centers, same-day surgery centers, or surgicenters. Ambulatory surgical units perform surgical procedures not requiring an overnight hospital stay. Such surgery is commonly less complicated than those required hospitalization.

Latest Industry News

Israel based neurovascular device maker Rapid Medical has won Conformité Européene (CE) Mark approval in the European Union for its Tigertriever 13 stent retriever. This device is used for treating ischemic stroke. 31 JUL 2018
Israel-based medical device company Perflow Medical has announced the first clinical cases of the Cascade dynamic nonocclusive remodeling net, which is commercially available in Europe. 23 JUL 2018.

 

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