3.2% CAGR, Neurovascular Devices Market is Growing at Magnificent Revenue of $3,878.51 Million by 2027 – Stryker Corporation., Johnson & Johnson Services, Acandis, MicroPort Scientific Corporation

According to a new market research study titled 'Neurovascular Devices Market to 2027 - Global Analysis and Forecasts by Product, Application, End User and Geography, the global neurovascular devices market is expected to reach US$ 3,878.51 Mn in 2027 from US$ 2,919.41 Mn in 2018. The market is estimated to grow with a CAGR of 3.2% from 2019-2027. The report highlights the trends prevalent in the global neurovascular devices market and the factors driving the market along with challenges to its growth.

Global neurovascular devices market was segmented by product, application and end user. On the basis of the product the market is segmented as neurothrombectomy devices, aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems and support devices. Based on the application the market is segmented into cerebral aneurysms, ischemic strokes, arteriovenous malformation & fistulas and other applications. The end user segment is classified into hospitals, ambulatory surgical centers and specialized clinics.

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Increasing Incidences of Neurovascular Diseases
Neurological diseases are the disorders of the brain, spine and the nerves that connect them and supplies oxygenated blood. The neurovascular systems is highly dependent on the continuous supply of oxygen and nutrients which is been supplied by the arteries and veins. The supply of oxygen and nutrients to the brain is essential for its working, therefore a defect in the system can impair the function and it may quickly become a life threatening factor. The neurovascular condition, diseases or disorders includes, ischemic stroke, hemorrhage stroke, brain aneurysm, vascular malformation, brain tumors and others. The lifestyle habits, genetic disorders, related chronic diseases may cause development of the neurovascular diseases. During recent years, the prevalence of neurological disorders have increased significantly. For instance, cerebral aneurysm is one of the neurovascular diseases that is rising significantly across the world. The prevalence of cerebral aneurysms has increased tremendously across the globe. Nearly, 30,000 people in the United States suffer from brain aneurysm rupture every year. A brain aneurysm ruptures every 18 minutes. The annual rate of rupture in the United States is found close to 8 to 10 per 100,000 people. Thus, it is estimated that the rising prevalence of cerebral aneurysms is likely to fuel the growth of the market during the forecast period.

Development in the Healthcare Market
The healthcare industry has been witnessing rapid transformations during the previous years. Various technological advancements have been witnessed in the industry such as, use of stem cell therapy, smart brain prosthetics as well as transcranial MRI-guided focused ultrasound. Countries across the globe have been preferring advanced technologies in healthcare. With a need for better healthcare facilities, Technology-Enabled Care (TEC) solutions are being preferred to in the healthcare systems in the emerging economies. The increase in ageing population, incidences of chronic illnesses and pediatric care are the primary factors driving the growth of healthcare sector. Various established players in the industry have been investing significant amount of their revenue in research and development activities for the development of better and advanced products and technologies to be used in the healthcare industry. Also, the availability of reimbursement for various medical procedures are expected to fuel the growth of the industry in the coming years. There has been a significant increase in the healthcare expenditure during the previous years. As per World Bank, Healthcare expenditure accounts for 9.94% of global GDP. In the United States, 17.1% of its GDP is committed to the industry, whereas in Latin America, HC expenditures account for only 7.24%, with Brazil at 8.3%, and Mexico at 6.3%. Whereas the healthcare expenditure per capita was 11.3%, 9.1%, 5.6%, and 4.7% in Germany, UK, China, and India, respectively during the year 2017. The above stated factors are expected to offer broad growth opportunities in the healthcare industry at the global level.

Global Neurovascular Devices Market – By Product
• Neurothrombectomy Devices
o Clot Retrieval Devices
o Suction & Aspiration Devices
o Snares
• Aneurysm Coiling & Embolization Devices
o Embolic Coils
 Bare Detachable Coils
 Coated Detachable Coils
o Flow Diversion Devices
o Liquid Embolic Agents
• Cerebral Balloon Angioplasty & Stenting Systems
o Carotid Artery Stents
o Embolic Protection Systems
 Balloon Occlusion Devices
 Distal Fillers
• Support Devices
o Microcatheters
o Microguidewies

By Global Neurovascular Devices Market – By Application
• Cerebral Aneurysms
• Ischemic Stroke
• Arteriovenous Malformation & Fistulas
• Other Applications

By Global Neurovascular Devices Market – By End User
• Hospitals
• Ambulatory Surgical Centers
• Specialized Clinics

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This release was published on openPR.