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Neurovascular Devices Market to witness explicit growth, worldwide by 2023

03-28-2019 02:25 PM CET | Health & Medicine

Press release from: Allied Market Research

Neurovascular Devices Market

Neurovascular Devices Market

Neurovascular devices (such as coils) aid in treatment of various neurovascular disorders such as cerebral aneurysms and intracranial atherosclerotic disease. 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.

The number of elderly people increases and the number of patients suffering from neurovascular disease surges. Adoption of new minimally invasive techniques, such as blood flow switching and carotid stenting, also increases the market growth. However, the high cost of the device and the lack of neurosurgery are expected to hamper market growth.

The key business insights discussed in the report help the interested business owners and individuals understand the entire market. It provides an overview of the drivers, restraints, and opportunities impacting the industry. It tells about the market size, top pocket investments, segmentation, and key market strategies that are currently dominating the market. It also shares information about the leading players operating in the market.

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The report emphasizes on the various segments of global neurovascular devices market. The market is segmented into product, disease pathology, and region. Based on Product, the market is divided into embolization devices, revascularization devices, accessory devices, thrombectomy devices and embolic protection devices. The report splits the disease pathology segment into aneurysm, arteriovenous Malformation and fistulas (AVM). ischemic stroke, and stenosis. The market is analyzed across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA).

By product, the revascularization devices segment is expected to grow at a CAGR of 8.5% during the forecast period, thereby coming up as the fastest growing sector. Based on disease pathology, Aneurysm accounted for nearly three-fifth of the total market in 2016 and is expected to be dominant during the forecast period. By geography, Asia-Pacific has been cited as the fasted growing sector, registering a CAGR of 5.9% by 2023. This is due to improvement in healthcare infrastructures and rise in expenditures in emerging markets (such as India and China) to cater to the unmet medical needs.

The key players in the global neurovascular devices market are expanding the scope of their business operations by including inventive products in their product portfolios. The report includes a detailed competitive analysis of the major market players, such as Johnson & Johnson, Terumo Corporation, Penumbra, Inc., Stryker Corporation, Medtronic Plc., Microport Scientific Corporation, Acandis GmbH & Co. KG, Merit Medical Systems, Inc., Integer Holdings Corporation, and and W.L. Gore & Associates.

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.

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About us

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
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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
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