Neurovascular Devices Market : Top Players – 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 size was valued at USD 1.7 billion in 2017 and is expected to witness more than 3.8% CAGR from 2018 to 2024.

Growing number of cases of brain aneurysm and ischemic stroke across the U.S. will be major factor driving market growth. Ischemic stroke is the highest occurring subtype of stroke in the U.S. and stroke is the fourth leading mortality factor. According to The American Journal of Medicine, approximately 795,000 strokes occur each year in the country. With increasing geriatric population across the country, burden of ischemic stroke is rapidly rising that will result into substantial demand for neurovascular devices over the upcoming years.

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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.

Technological advancements in neurovascular devices will serve as a high impact rendering factor for neurovascular devices industry growth. Advanced neurovascular devices are manufactured by considering genetic factors as well as pathophysiology of neurovascular diseases. Firms are focusing on new product launches by adopting novel technologies to capture greater profits and offer efficacy of disease treatment. For instance, in June 2018, Terumo announced about the U.S. FDA clearance of SOFIA Catheter, a technique for successful revascularization of patients. Thus, increasing technological advancements will escalate neurovascular devices demand and adoption, further stimulating the market size.

Greater cost associated with neurovascular devices and treatment can slower the adoption and customer preference for the devices. In addition, challenges pertaining to commercialization of neurovascular devices due to lack of resources and proper business environment across emerging economies may restrict neurovascular devices market growth in the foreseeable future.

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.

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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.

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.

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 Asahi Intecc, Boston Scientific Corporation, Integer Holdings, Integra Lifesciences, Johnson & Johnson, Kaneka Medix Corp., LivaNova PLC, Medtronic, Stryker and Terumo Corporation. 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.

Report Content

Chapter 1. Methodology
1.1. Methodology
1.2. Market definition
1.3. Forecast parameters
1.4. Data sources
1.4.1. Secondary
1.4.1.1. Paid sources
1.4.1.2. Unpaid sources
1.4.2. Primary

Chapter 2. Executive Summary
2.1. Neurovascular devices industry 360º 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
3.3.1.1. Increasing number of brain aneurysm and ischemic strokes in U.S.
3.3.1.2. Rising demand for surgical procedures with minimum invasion
3.3.1.3. Advancement in process in developed regions
3.3.1.4. Government initiatives to modernize and expand healthcare infrastructure across the globe
3.3.2. Industry pitfalls & challenges
3.3.2.1. Need for designing more effective and low-cost treatments
3.3.2.2. Companies are facing challenges in commercialization across 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 and reimbursement landscape
3.5.1. U.S.
3.5.2. Europe
3.5.3. China
3.6. Pricing analysis
3.6.1. U.S.
3.6.2. Europe
3.6.3. China
3.6.4. Japan
3.7. Porter’s analysis
3.8. Company market share analysis, 2017
3.8.1. Strategy dashboard
3.9. Porter’s analysis
3.10. PESTEL analysis

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