Interventional Neuroradiology Market Analysis 2019 – 2027: Balt Extrusion, Merit Medical Systems, Terumo Corporation, Medtronic, Penumbra, Stryker, and DePuy Synthes

The global interventional neuroradiology market accounted to US$ 1,969.39 Mn in 2018 and is expected to grow at a CAGR of 5.9% during the forecast period 2019 – 2027, to account to US$ 3,254.55 Mn by 2027.

Progressive aging population, increasing demand for minimally invasive procedures and rise in the prevalence of the cerebral aneurysm play vital role in the growth of the interventional neuroradiology market. However, the restraints such as high cost of embolization coils and dearth of skilled professionals are likely to impact the growth of the market in the forecast period.

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The players operating in interventional neuroradiology market are, Balt Extrusion, Merit Medical Systems, Terumo Corporation, Medtronic, Penumbra, Inc., Stryker, DePuy Synthes, Boston Scientific Corporation, W. L. Gore & Associates, and MicroPort Scientific Corporation among others.

Progressive Aging Population is driving the market for Interventional Neuroradiology over the forecast period.

The interventional neuroradiology market by product is segmented into neurovascular embolization & coiling assist devices and accessories. In 2018, the neurovascular embolization & coiling assist devices segment held a largest market share of 72.17% of the interventional neuroradiology market, by product. This segment is also expected to dominate the market in 2027 owing to increase in the number of interventional neurology procedures. The segment is also anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.

The market players have been establishing acquisitions and collaborations in the market, which enables them to hold a strong position in the market. For instance, in November, 2018, Stryker completed the acquisition of K2M Group Holdings, Inc. The acquisition aims to increase the product portfolio of Stryker’s spine and neurotechnology segment. The developments performed by the companies are helping the market to grow in the coming years.

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Strategic Insights

Strategic acquisition and product launches were observed as the most adopted strategy in global interventional neuroradiology industry. Few of the recent product launch and acquisitions are listed below;

2018: Balt USA, subsidiary of Balt Extrusion, received 510 (k) approval for the Optima Coil System in the US. The approval of the Optima Coil System makes it the first Balt USA product to be developed and approved for use in the US.

2018: MicroVention, Inc., received the FDA Premarket Approval (PMA) for the WEB Aneurysm Embolization System for the treatment of intracranial wide neck bifurcation aneurysms. The WEB System is a unique, single-device treatment solution for wide neck bifurcation aneurysms, which may account for up to 35% of all aneurysms.

2016: Merit Medical Systems, Inc. received 510(k) clearance for the SwiftNINJA Steerable Microcatheter. The clearance aims to offer peripheral and coronary applications. With the exception of Japan, Merit has global distribution rights for the SwiftNINJA.

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