Interventional Neuroradiology Market: Receives Significant Impetus During COVID-19 Outbreak; Demand to Sustain Post Pandemic

According to The Insight Partners market research study titled 'Interventional Neuroradiology Market - Global Analysis and Forecasts by Product, Disease and End User. The global interventional neuroradiology market is expected to reach US$ 3,254.55 Mn in 2027 from US$ 1,969.39 Mn in 2018. The market is estimated to grow with a CAGR of 5.9% from 2019-2027. The report highlights the trends prevalent in the global interventional neuroradiology market and the factors driving the market along with those that act as deterrents to its growth.

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The players operating in interventional neuroradiology market:

BALT EXTRUSION
Merit Medical Systems
Terumo Corporation
Medtronic
Penumbra, Inc.
Stryker
DePuy Synthes
Boston Scientific Corporation
W. L. Gore & Associates
MicroPort Scientific Corporation

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.

The report segments the global interventional neuroradiology market as follows:

Global Interventional Neuroradiology Market - By Product

Neurovascular Embolization & Coiling Assist Devices
Embolic Coils
Flow Diversion Devices
Liquid Embolic Agents
Accessories
Microcatheters
Microguidewires

Global Interventional Neuroradiology Market - By Disease

Cerebral Aneurysms
Intra-Cranial Tumors
Acute Strokes
Other Diseases

Global Interventional Neuroradiology Market - By End User

Hospitals
Ambulatory Surgical Centers
Other End Users

Market Insights

Progressive Aging Population

The ageing population is defined as group of people aged 65 and over. The growth of the ageing population is poised to become one of the most significant social transformations of the twenty-first century. The number of geriatric population has been rising significantly worldwide. As per the data published by the United Nations, in 2017, there were an estimated 962 million people aged 60 or over in the world, which comprised of 13 per cent of the global population. The geriatric population is estimated to grow at a rate of 3% every year.

Increasing Demand for Minimally Invasive Procedures

A minimally invasive medical procedure is generally carried out by inserting a small device or an implant in body through an incision or anatomical opening. Products such as neurovascular embolization and coiling assist devices including embolic coils, flow diversion devices and liquid embolic agents are widely being used in the field of neurology. In the field of neurology, embolic coils are used to isolate an aneurysm from the normal circulation without blocking off any small arteries nearby or narrowing the main vessel. Coil embolization is a minimally invasive procedure to treat an aneurysm by filling it with material that closes off the sac and reduces the risk of bleeding. It is performed from "within" the artery (endovascular) through a steerable catheter inserted into the blood stream at the groin and guided to the brain. Tiny coils, glue, or mesh stents are used to promote clotting and close off the aneurysm.

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