Interventional Neuroradiology Market (Covid-19) Impact and Analysis by 2027 | Balt Extrusion, Merit Medical Systems, Terumo Corporation, Medtronic, Penumbra, Stryker, DePuy Synthes, Boston Scientific Corporation, W. L. Gore & Associates, and MicroPort Sci

The Insight Partners analysts forecasts the latest report on “Interventional Neuroradiology Market (Covid-19) Impact and Analysis by 2027”, according to report; The Interventional Neuroradiology Market report covers the overall and all-inclusive analysis of Market with all its factors that have an impact on market growth. This report is anchored on the thorough qualitative and quantitative assessment of the Interventional Neuroradiology Market.

The study provides details such as the market share, Market Insights, Strategic Insights, Segmentation and key players in the Interventional Neuroradiology Market.

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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.

Some of the Major Market Players Are:

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

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.

At present, Europe and Asia Pacific regions has the highest population aged 60 years and above. The number of ageing population in the world is projected to reach around 1.4 billion in 2030 and it will reach around 2.1 billion in 2050, and is expected to reach up to 3.1 billion in 2100. Ageing has been linked with the various chronic diseases due to problems related to it. Hence, owing to the growing geriatric population and the rise in associated neurological disorders, the market for interventional neuroradiology is anticipated to witness significant growth.

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.

In addition, the rise in the awareness about the minimally invasive procedures and availability of the reimbursement for the minimally invasive procedures are likely to foster the demand for minimally invasive procedure. Thus, owing to these factors the market for the interventional neuroradiology is likely to propel at a significant rate during the forecast period.

Product Insights

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.

Disease Insights

Global interventional neuroradiology market, based on the disease was segmented into, acute strokes, cerebral aneurysms, intra-cranial tumors, and others. In 2018, the acute strokes segment held a largest market share of 42.16% of the interventional neuroradiology market, by disease. This segment is also expected to dominate the market in 2027 due to the rising prevalence of acute strokes, due to large incidence of causative factors such as diabetes or habits such as smoking. In addition, the segment is anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.

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.

MARKET SEGMENTATION

By Product

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

By Disease

• Cerebral Aneurysms
• Intra-Cranial Tumors
• Acute Strokes
• Other Diseases
• By End User
• Hospitals
• Ambulatory Surgical Centers
• Other End Users

The report analyses factors affecting the Interventional Neuroradiology Market from further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the Interventional Neuroradiology Market in these regions.

Moreover, the report entails the estimate and analysis for the Interventional Neuroradiology Market on a global as well as regional level. The study provides historical data as well as the trending features and future predictions of the market growth. Further, the report encompasses drivers and restraints for the Interventional Neuroradiology Market growth along with its impact on the overall market development. In addition, the report provides an analysis of the accessible avenues in the market on a global level.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global Interventional Neuroradiology Market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions. The Interventional Neuroradiology Market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

Promising Regions & Countries Mentioned in The Interventional Neuroradiology Market Report:

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East & Africa

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Major Features of Interventional Neuroradiology Market Report:

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Interventional Neuroradiology market
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global Interventional Neuroradiology market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution.

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