Neurovascular Devices Market report for 2018-2024 - Top companies | Amico JSC, Canon, Carestream healthcare, Fujifilm, GE Healthcare, Hologic, I.M.S., Konica Minolta, Korean C, Medical technologies, Planmed Oy, Philips, Siemens Healthcare

Neurovascular Devices Market was valued at USD 1.7 billion in 2017 and is expected to witness more than 3.8% CAGR from 2018 to 2024; according to a new research report by Global Market Insights.

Increasing patient demand for minimally invasive surgeries will augment neurovascular devices business growth over the coming years. Advancement of novel technology has led to significant demand for procedures with minimum invasion. Minimally invasive procedures offering benefits to the patients including decreased pain, less blood loss and cost-effectiveness will increase adoption of neurovascular surgeries, thereby accelerating neurovascular devices market growth.

High demand for minimally invasive surgical devices will significantly drive neurovascular devices market growth over the forecast period. Absence of post-operative complications, enhanced effectiveness and better patient outcomes are the major factors escalating demand for neurovascular devices market. With use of minimally invasive neurovascular devices, patients experience reduction in recovery time. Such factors will favor considerable growth in the future.

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Coiling procedure technique segment contributed to largest revenue of USD 607.0 million in 2017 owing to rising prevalence of intracranial aneurysms. Also, increasing influence of minimally invasive procedures will escalate demand for coiling procedures that does not require incision in skull. Increasing burden of intracranial aneurysm will escalate demand for coiling procedure, thus propelling segmental growth.

Embolic coils segment accounted for largest revenue of USD 523.4 million in 2017. Minimally invasive and cost-effective product intended for treatment of brain aneurysms is major factor for segmental growth. Improved design to provide maximum efficiency will favor segmental growth in the future.

Ischemic stroke segment is expected to grow at 2.7% during the forecast timeframe. Segmental growth is attributable to rise in number of ischemic strokes worldwide, owing to rising geriatric population. According to World Health Organization (WHO), 15 million people suffer from stroke across the globe annually. Increasing incidences of ischemic stroke and high adoption of neurovascular devices will favor industry growth over forecast timeframe.

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Hospitals segment accounted for largest market share of 88.4% in 2017. Increasing adoption of neurovascular devices owing to rise in number of ischemic strokes will lead to segmental growth. Various government policies in developed countries for treatment of neurovascular disorders and growing healthcare expenditure in developing countries will favor segmental growth across the forecast timeframe.

U.S. neurovascular devices market will grow at 3.6%, owing to high pervasiveness of brain aneurysms. According to Brain Aneurysm Foundation, stroke is the third leading cause of death in U.S. High prevalence of unruptured brain aneurysm will favor business growth. high disposable income and increasing government expenditure on healthcare will further lead to business growth in the future.

Japan neurovascular devices market accounted for revenue size of USD 144.7 million in 2017 owing to rising cases of brain aneurysms coupled with increasing geriatric population. High pervasiveness of brain aneurysm is credited to growing geriatric population. Rising geriatric population will escalate number of brain aneurysm cases, thereby propelling industry growth.

Some of the prominent players involved in neurovascular devices market are :-

• Amico JSC
• Canon
• Carestream healthcare
• Fujifilm
• GE Healthcare
• Hologic
• I.M.S.
• Konica Minolta
• Korean C
• Medical technologies
• Planmed Oy
• Philips
• Siemens Healthcare

These firms adopt strategic initiatives such as mergers, acquisitions, geographical expansion and new product launch to reap benefits in neurovascular devices market. For instance, in January 2018, Medronic announced U.S. FDA approval for Riptide Aspiration System for treatment of acute ischemic stroke. This approval will help in expansion of neurovascular product portfolio, thereby increasing its business revenue.

Charts & Figures
FIG. 1 Industry segmentation
FIG. 2 Global neurovascular devices market, 2013- 2024 (USD Million)
FIG. 3 Growth potential analysis, by product
FIG. 4 Growth potential analysis, by process
FIG. 5 Growth potential analysis, by therapeutic application
FIG. 6 Growth potential analysis, by end-use
FIG. 7 Company market share analysis, 2016
FIG. 8 Strategy dashboard
FIG. 9 Porter’s analysis
FIG. 10 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.

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com

This release was published on openPR.