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Neurointerventional Devices Market to Expand to US$ 4,524.34 Mn; Top Players are Terumo, iVascular, Stryker, Medtronic
Neurothrombectomy segment is expected to grow at a fast pace over the forecast period.According to The Insight Partners market research titled 'Neurointerventional Devices Market to 2027 – Global Analysis and Forecasts by Type, Technique and End User'. The global neurointerventional devices market is expected to reach US$ 4,524.34 Mn in 2027 from US$ 2,323.02 Mn in 2018. The market is projected to grow with a CAGR of 8.0% from 2019-2027. The report provides trends prevailing in the global neurointerventional devices market and the factors driving market and also the factors that act as hindrances.
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The global neurointerventional devices market, based on the technique, was segmented into neurothrombectomy, stenting, coiling procedure, cerebral angiography, and flow disruption. In 2018, the neurothrombectomy accounted for the largest market share in the global neurointerventional devices market by technique. Technological development in neurothrombectomy procedures and its high acceptance by healthcare professionals are the major factors driving the growth of the segment. The primary factor for the growth of the market is the increasing adoption of neurothrombectomy techniques.
The major factors boosting the market growth are increasing demand for minimally invasive procedures, and the rise in the prevalence of the cerebral aneurysm is anticipated to drive the market. However, the high cost of neurointerventional devices is hampering the growth of the market.
The neurointerventional devices market majorly consists of players such as Medtronic, Stryker, iVascular S.L.U., Terumo Corporation, Boston Scientific Corporation, Merit Medical Systems, Penumbra, Inc., Rapid Medical, MicroPort Scientific Corporation, and InspireMD, Inc. among others. Several companies are concentrating on organic strategies, such as product launch and product approvals. For instance, in May 2019, Stryker received pre-market FDA approval for Neuroform Atlas Stent System Neuroform Atlas is only the second adjunctive stent to be given PMA clearance in combination with detachable embolic coils for the treatment of wide-neck, intracranial aneurysms.
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