Press release
U.S. Neurovascular Devices Market to Worth US$ 1.07 billion by 2027 | Integer Holdings Corporation, Johnson & Johnson, Penumbra, Inc., SAES Getters SpA.
As per the report published by Allied Market Research, the U.S. Neurovascular Devices Market was pegged at $946.15 million in 2019, and is expected to garner $1.07 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027. The study analyzes the important strategies, drivers, competition, market dynamics, size, and important investment regions.
Key Takeaways:
Increase in demand for minimally invasive procedures in U.S. offers novel opportunities to the market players in the coming years.
The revascularization devices segment is anticipated to register the highest CAGR of 5.4% from 2020 to 2027.
The ischemic stroke segment is estimated to manifest the fastest CAGR of 5.9% from 2020 to 2027.
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Rise in prevalence of neurovascular diseases, increase in geriatric population across the U.S., technological advancements associated with neurovascular devices, and surge in incidence of underlying disease conditions drive the growth of the U.S. Neurovascular Devices market. On the other hand, higher prices of neurovascular devices restrain the market growth. However, increase in demand for minimally invasive procedures in U.S. offers novel opportunities to the market players in the coming years.
Major Factors Driving the Growth of US Neurovascular Devices Market:
Aging Population: The global population is aging, and with increasing age, the risk of neurovascular disorders such as stroke, aneurysms, and arteriovenous malformations (AVMs) rises. As a result, there is a higher demand for neurovascular devices used in the diagnosis and treatment of these conditions.
Advancements in Technology: Continuous advancements in medical technology have led to the development of more effective and minimally invasive neurovascular devices. These innovations improve the accuracy and safety of procedures and increase the adoption of neurovascular interventions.
Increasing Incidence of Stroke: Stroke remains a leading cause of death and disability worldwide. The rising incidence of strokes, particularly ischemic strokes, has driven the demand for neurovascular devices, such as clot retrieval systems and stents, for acute stroke treatment.
Endovascular Procedures: A shift toward minimally invasive endovascular procedures for the treatment of neurovascular conditions has been a significant driver. These procedures often require the use of neurovascular devices for stent placement, embolization, and thrombectomy.
Market Segmentation:
Product Type:
Neurothrombectomy Devices: Devices used to remove clots or thrombi from blood vessels in the brain. This includes stent retrievers, aspiration catheters, and thrombectomy systems.
Neurovascular Stents: Stents designed for use in intracranial and extracranial vessels to maintain blood flow or treat stenosis.
Neurovascular Embolization Devices: Devices such as coils and liquid embolic agents used for the endovascular treatment of aneurysms and vascular malformations.
Neurovascular Balloon Catheters: Balloon catheters used for angioplasty and blood flow restoration in the brain.
Intracranial Stents and Flow Diverters: Devices designed for the treatment of intracranial aneurysms and stenosis.
Support Devices: Devices like microcatheters and guidewires that facilitate the delivery of other neurovascular devices to target locations in the brain.
Intravascular Ultrasound (IVUS) Systems: Imaging devices used for intravascular visualization during neurovascular procedures.
Therapeutic Application:
Ischemic Stroke: Devices used for the treatment of ischemic strokes, such as neurothrombectomy devices.
Hemorrhagic Stroke: Devices used for the treatment of hemorrhagic strokes, including embolization devices for aneurysms.
Cerebral Aneurysms: Devices for the endovascular treatment of cerebral aneurysms.
Cerebral Arteriovenous Malformations (AVMs): Devices used for the embolization of cerebral AVMs.
Stenosis and Stent Placement: Devices for the treatment of intracranial and extracranial stenosis.
Others: Other therapeutic applications and conditions addressed by neurovascular devices.
End User:
Hospitals and Clinics: Devices used in hospital settings, including operating rooms and interventional radiology suites.
Ambulatory Surgical Centers (ASCs): Facilities that perform minimally invasive neurovascular procedures.
Specialty Neurological Centers: Centers specializing in the treatment of neurological conditions.
Others: Other healthcare facilities and settings where neurovascular procedures are performed.
Patient Age Group:
Pediatric Neurovascular Devices: Devices designed for pediatric patients.
Adult Neurovascular Devices: Devices intended for adult patients.
Geriatric Neurovascular Devices: Devices tailored to the specific needs of elderly patients.
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Competitive Landscape:
The leading market players in the report include B. Braun Melsungen AG, Integer Holdings Corporation, Johnson & Johnson (Cerenovus), Medtronic Plc., Merit Medical Systems, Inc., Microport Scientific Corporation, Penumbra, Inc., SAES Getters SpA (Memry Corporation), Stryker Corporation, Terumo Corporation (Microvention, Inc.).
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