Neurointerventional Devices Market: Infrastructural Advancements Set to Boost Growth during the Forecast Period | Key Players - Boston Scientific Corporation, Medtronic plc, St. Jude Medical, Nevro Corp., Nuvectra Corporation, Stimwave Technologies
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Neurointerventional devices are used for the treatment of aneurysm, and ischemic strokes. Attributed to minimally invasive features, healthcare professionals use coiling procedure, cerebral angiography, and stenting technologies for the treatment of vascular diseases in neck, spine and head. Neurointerventional devices witness significant demand in the pharmaceutical and healthcare industry. Growing prevalence of atherosclerosis will also rev up demand for these devices in the healthcare sector.
A recently published report by Fact.MR reveals that the global neurointerventional devices market is expected to represent a value of over US$ 2,000 Mn, registering a robust CAGR growth over the forecast period, 2017 – 2022.
Consumption in Healthcare Industry
Attributed to minimally invasive technology, the neurointerventional devices witness significant demand for treatment of various diseases across the healthcare industry. Treatment of ischemic strokes and brain aneurysm has led to an upsurge in demand for neurological treatment such as clipping and stenting. Healthcare professionals are increasingly adopting minimally invasive devices for neurological treatment. Bound to such factors, the neurointerventional devices is expected to witness significant adoption in the healthcare industry globally.
Considerable Demand in the Pharmaceutical Industry
Growing prevalence of vascular diseases and atherosclerosis has led to an upsurge in demand for neurointerventional treatment in the healthcare industry. This has led to an upsurge in demand for these devices in the pharmaceutical industry globally. Moreover, surge in demand for technologically enhanced neurointerventional devices will further witness significant demand in healthcare institutions. This has revved up demand for neurointerventional devices among neurosurgeons, which is expected to impact growth of the global neurointerventional devices market positively.
Atherosclerosis to Fuel Demand for Neurointerventional Devices
Apart from treatment of ischemic strokes and aneurysm, the neurological devices are also used for treatment of vascular diseases. Growing prevalence of atherosclerosis due to building fatty plaque leads to narrow vessels. This vascular disorders adversely affect the kidneys, legs, neck, and stomach arteries. As these arteries are connected with the brain, vascular disorder adversely affects the brain too. Due to such factors, the neurointerventional devices witness significant demand in the healthcare industry.
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Hospitals to Register Significant Growth
Embolic coils will outsell other neurointerventional devices, and is expected to represent a value of over US$ 270 Mn by the end of 2017. North America is predicted to represent the largest market for neurointerventional devices globally. On the basis of products, balloon neurointerventional devices is expected to register the highest CAGR growth in the global neurointerventional devices market throughout 2022. Neurovascular thrombectomy is expected to register the second highest revenue growth in the global market.
Neurointerventional devices is expected to witness significant demand in the hospitals globally. Hospital is predicted to represent a value of more than US$ 900 Mn by the end of 2022. During the predicted period, this segment will register the highest CAGR as compared to other end users in the global neurointerventional devices market. Ambulatory surgical centers is expected to witness the second highest growth in the global neurointerventional devices market by 2022 – end.
In terms of technology, coiling procedure is expected to register the highest revenue growth in the global neurointerventional devices market. Coiling procedure is predicted to represent a value of more than US$ 300 Mn in 2017. North America will witness considerable demand for coiling procedures in the healthcare industry. Neurothrombectomy procedure is expected to witness the second highest revenue growth in the global market. This segment is expected to represent a value of more than US$ 100 Mn by the end of 2017.
Coiling procedures, cerebral angiography, and stenting among other technologies will register the highest CAGR growth in the global neurointerventional devices market through 2022. These segments are expected to witness parallel CAGR growth in the global neurointerventional devices market during the predicted period.
Market Players Operating in the Global Market
Major market players operating in the global neurointerventional devices market include Boston Scientific Corporation, Medtronic plc, St. Jude Medical, Inc., Nevro Corp., Nuvectra Corporation, Stimwave Technologies, Inc., and Saluda Medical Pty Ltd.
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