Neurovascular Devices Market determined to grow $3,409 Million by 2023 : Revascularization devices segment is projected to grow at fastest CAGR during forecast period
New report published by Allied Market Research, titled, "Neurovascular Devices Market by Product, and Disease Pathology: Global Opportunity Analysis and Industry Forecast, 2017-2023," the global neurovascular devices market was valued at $2,371 million in 2016, and is projected to reach $3,409 million by 2023, growing at a CAGR of 5.3% from 2017 to 2023. The embolization devices segment held more than two-fifths share of the total market in 2016.
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Embolization devices segment is expected to dominate the market throughout the analysis period, owing to increase in the incidence of neurovascular disorders, such as arteriovenous malformations (AVMs), carotid artery disease, and intracranial atherosclerotic disease. On the other hand, revascularization devices segment is expected to grow at the highest CAGR of 8.5% during the forecast period.
Key Findings of the Neurovascular Devices Market:
• Revascularization devices segment is projected to grow at a CAGR of 8.5% during the forecast period.
• Aneurysm contributed for nearly three-fifths share of the global neurovascular devices market in 2016.
• Ischemic stroke segment is expected to register the highest CAGR of 5.7% during the analysis period.
• France and Germany jointly contributed for more than one-third share of the European neurovascular devices market in 2016.
• Japan is the major shareholder, accounting for more than one-third share of the Asia-Pacific neurovascular devices market in 2016.
Asia-Pacific is projected to grow at the highest CAGR of 5.9% during the forecast period owing to improvement in healthcare infrastructures and rise in expenditures in emerging markets (such as India and China) to cater to the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for the market growth.
The major companies profiled in the report include Stryker Corporation, Medtronic Plc., Johnson & Johnson, Terumo Corporation, Penumbra, Inc., Integer Holdings Corporation, Microport Scientific Corporation, Merit Medical Systems, Inc., W.L. Gore & Associates, and Acandis GmbH & Co. KG.
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Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.
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