Press release
Neurovascular Devices Market Product -Based Insights 2020 Top Companies like phenox, Integer Holdings, MicroPort Scientific
The scope of the Neurovascular Devices market includes product, application, end user, and region. The market for Neurovascular Devices is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the Neurovascular Devices market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.Neurovascular devices are used in neurovascular diseases that possibly affects the network of blood vessels that surround the brain. This leads to incurable conditions such as strokes and aneurysms. Neurovascular devices are used to prevent stroke, aneurysm embolization, carotid stenosis and other symptoms. Neurovascular devices are also used for performing surgical procedures to treat aneurysms and other cranial blood flow problems.
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The Neurovascular Devices Market was valued at US$ 2,997.36 million in 2019 and is projected to reach US$ 3,871.20 millionby 2027; it is expected to grow at a CAGR of3.2%from 2020to 2027.
The major players operating in the neurovascular devices market include, Medtronic plc, Stryker Corporation., Johnson & Johnson Services, Inc., Acandis GmbH & Co. KG., MicroPort Scientific Corporation, Terumo Corporation, Penumbra, Inc., phenox GmbH, Integer Holdings Corporation, and Memry Corporation. The companies have carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.
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.
The market for neurovascular devices is expected to grow significantly due to factors such as increasing incidences of neurovascular diseases, rising demand for minimally invasive procedures, and significantly growing aging population. However, factor such as high cost of embolization coils and lack of expert professionals are the major restraining factors for the growth of the market. COVID19 has impacted the neurovascular devices market. In many countries situation such as lockdown has led the patient to opt for rescheduling the neuro surgeries which has significantly contributed in the market disruption
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.
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Table of Content
Introduction
1.1 Scope of the Study
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Global Neurovascular Devices Market – By Product
1.3.2 Global Neurovascular Devices Market – By Application
1.3.3 Global Neurovascular Devices Market – By End User
1.3.4 Global Neurovascular Devices Market – By Geography
2. Global Neurovascular Devices Market – Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Global Neurovascular Devices– Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe– PEST Analysis
4.2.3 Asia Pacific– PEST Analysis
4.2.4 Middle East and Africa – PEST Analysis
4.2.5 South and Central America – PEST Analysis
4.3 Number Of Procedures
4.3.1 Cerebral Angioplasty
4.3.2 Endovascular Clot Retrieval Therapy
4.3.3 Neurothrombectomy
4.3.4 Cerebral Aneurysms
4.3.5 Endovascular Embolization
5. Global Neurovascular Devices Market – Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Increasing Incidences of Neurovascular Diseases
5.1.2 Rising Demand for Minimally Invasive Procedures
5.1.3 Significantly Growing Geriatric Population
5.2 Key Market Restraints
5.2.1 High Cost of Embolization Coils
5.2.2 Lack of Expert Professionals
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