Neurovascular Devices Market is Expected to Reach USD 3.60 Billion By 2028 at a CAGR of 5.6% | Reports and Data

The Neurovascular Devices Market is forecasted to grow from USD 2.35 Billion in 2020 to USD 3.60 Billion by 2026, at a CAGR of 5.6%, during the forecast period. The market is primarily driven by the growing target population for patients, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and increased market demand for effective neurovascular devices.

Technological advances have increased life expectancy, resulting in an increase in geriatric population as a consequence. The geriatric population (age 60 & above) is projected to increase by 57% from 902 million in 2015 to 1.41 Billion by 2030, according to a report published by the United Nations. As a result, the aging population around the globe is expected to rise to boost demand for neurovascular devices.

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Neurovascular therapy technological developments, such as the development of GORE TIGRIS by W L Gore and Medtronic distal filter embolic protection device SpiderFX, are expected to serve as a high impact rendering driver. It is expected that inclination for minimally invasive surgery in brain aneurysm and stroke treatments will be the key factor that will increase market growth.

Increasing numbers of neurovascular therapy research, increased demand for minimally invasive neurochirurgical procedures, and increased awareness for minimally invasive surgical procedures among neurochirurgists provide significant market growth opportunities. However, strict regulatory scenario and skilled neurosurgeon dearth may hinder the growth of the market during the forecast period.

Further key findings from the report suggest:

The Neurovascular Devices Market is forecasted to grow from USD 2.35 Billion in 2020 to USD 3.60 Billion by 2026, at a CAGR of 5.6%, during the forecast period. The market is primarily driven by the growing target population for patients, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and increased market demand for effective neurovascular devices.

The market for cerebral embolization and aneurysm coiling devices is expected to grow the largest at USD 1.11 Billion in 2026, at a CAGR of 6.5% during the forecast period. Growing geriatric population and cerebrovascular disorder prevalence are likely to encourage segment development. Cerebral angiography involves using contrast colors and X-rays to monitor blood flow through the brain. Products for neurothrombectomy are used in patients who are ineligible for activator therapy for tissue plasminogen.

The market for stroke is expected to grow the largest at USD 1.91 Billion in 2026, at a CAGR of 6.1% during the forecast period. Motor impairment, which causes movement disabilities, is the most common outcome associated with stroke. The primary focus in stroke rehabilitation with the help of stents and embolization coils is the recovery of lost artery functions.

In 2020, North America dominated the market for Neurovascular devices. The market for North America is expected to reach USD 1.21 Billion in 2026, at a CAGR of 6% during the forecast period. Key factors driving this growth include a favorable reimbursement structure, particularly in the U.S., large-scale R&D investments, and wide use of neurochirurgical products supported by the availability of advanced technologies with higher efficiency and confidence.

Competitive Landscape:

The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, and product & service portfolio. The Neurovascular Devices market is extremely competitive and consists of several key players at the regional and global levels. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures, and collaborations to strengthen their market position and enhance their product portfolio.

Leading companies operating in the market are:

W. L. Gore & Associates, Inc. (US), Terumo Corp. (Japan), Abbott Laboratories (US), Merit Medical Systems, Inc. (US), Medtronic Plc (Ireland), Penumbra, Inc. (US), Stryker Corp. (US), Johnson & Johnson (US), MicroPort Scientific Corp. (China) and others.

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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:

Neurovascular Devices Market Segmentation:

Type (Revenue, USD Million; 2018-2028)

Cerebral Embolization and Aneurysm Coiling
Embolic Coils
Flow Diversion
Liquid Embolic Agents
Cerebral Angioplasty and Stenting Systems
Carotid Artery Stents
Embolic Protection Systems
Neurothrombectomy
Clot Retrieval
Suction
Vascular Snares
Support
Micro Catheters
Micro Guidewires

Application (Revenue, USD Million; 2018-2028)

Cerebral Artery Stenosis
Stroke
Cerebral Aneurysm
Others

Regional Outlook:

North America (U.S., Canada, Mexico)
Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
Latin America (Brazil, Rest of LATAM)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)

Some essential purposes of the Neurovascular Devices market research report:

Vital Developments: Custom investigation provides critical improvements to the Neurovascular Devices market, including R&D, new item shipment, coordinated efforts, development rate, partnerships, joint efforts, and local development of rivals working in the market on a global scale and regional.

Market Characteristics: The report contains Neurovascular Devices market highlights, income, limit, limit utilization rate, value, net, creation rate, generation, utilization, import, trade, supply, demand, cost, part of the industry in general, CAGR, and gross margin. Likewise, the market report offers an exhaustive investigation of the elements and their most recent patterns, along with Service market fragments and subsections.

Investigative Tools: This market report incorporates the accurately considered and evaluated information of the major established players and their extension into the Neurovascular Devices market by methods. Systematic tools and methodologies, for example, Porter's Five Powers Investigation, Possibilities Study, and numerous other statistical investigation methods have been used to analyze the development of the key players working in the Neurovascular Devices market.

Convincingly, the Neurovascular Devices report will give you an unmistakable perspective on every single market reality without the need to allude to some other research report or source of information. This report will provide all of you with the realities about the past, present, and eventual fate of the Neurovascular Devices market.

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