Neurovascular Devices Market to Reach USD 5.5 Billion by 2028 | Stryker, Johnson & Johnson, Medtronic, Terumo Corporation, Penumbra, Inc, MicroPort Scientific Corporation, Kaneka Corporation, BALT and Others

The global neurovascular devices market is projected to reach USD 5.5 Billion by 2028 from USD 3.6 Billion in 2023, at a CAGR of 8.7% during the forecast period. The increase in the demand for neurovascular devices market is driven by the increasing population proportional a risk of developing various neurovascular diseases such as Ischemic stroke, cerebral aneurysms owing to the growing prevalence of hypertension, diabetes, and obesity. However, high cost of neuro-interventional procedures and associated products and shortage of skilled neurologists across emerging countries are likely to hamper the growth of market.

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Prominent companies include Stryker (US), Johnson & Johnson (US),Medtronic (Ireland), Terumo Corporation (Japan), Penumbra, Inc. (US), MicroPort Scientific Corporation (China), Kaneka Corporation (Japan), BALT (France), Perflow Medical Ltd. (Israel), Phenox GmbH (Germany), Sensome (France), Evasc (Canada), Rapid Medical (Israel), Asahi Intecc Co., Ltd (Japan), Acandis GmbH (Germany), Medikit Co. Ltd. (Japan), Imperative Care (US), Lepu Medical Technology(Beijing)Co.,Ltd. (China), Cerus Endovascular Inc. (USA), and Zylox-Tonbridge Medical Co., Ltd (China).

The neurovascular devices market refers to the medical devices used for the treatment of neurological disorders such as stroke, aneurysms, and arteriovenous malformations (AVMs). These devices are designed to restore blood flow to the brain, repair damaged blood vessels, and prevent further damage to the brain.

The neurovascular devices market is categorized into various segments based on device type, therapeutic application, end-user, and region. The major device types include embolic coils, neurovascular stents, flow diversion devices, and others. The therapeutic applications include ischemic strokes, hemorrhagic strokes, and others. The end-users of neurovascular devices include hospitals, clinics, and ambulatory surgical centers.

"The North America segment accounted for the highest market share in the neurovascular devices market, by region, during the forecast period"

Based on the region, the global neurovascular devices market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to witness a high market share during the forecast period. This can be attributed to the factors such as strong adoption of endovascular treatment procedures for the ischemic stroke, cerebral aneurysm, and arteriovenous malformation, availability of R& D investments for development of novel neurovascular devices, strong foothold of key players in region, and favorable reimbursement policy for neurovascular treatment procedures.

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This release was published on openPR.