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Innovations in Managing Adult Intraventricular Hemorrhage: Market Insights
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According to The Business Research Company's, The adult intraventricular hemorrhage market size has grown strongly in recent years. It will grow from $1.97 billion in 2023 to $2.09 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to advancements in neuroimaging techniques, an increase in hypertension and cardiovascular diseases, the growing elderly population, an increase in incidents of traumatic brain injuries, and medical technology innovations.
The adult intraventricular hemorrhage market size is expected to see strong growth in the next few years. It will grow to $2.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The growth in the forecast period can be attributed to innovations in minimally invasive surgical techniques, enhanced healthcare infrastructure, increased focus on stroke prevention and management, development of new pharmacological treatments, and growing awareness and education programs. Major trends in the forecast period include the rise of telemedicine and remote monitoring, the development of targeted therapies, the expansion of comprehensive stroke centers, enhanced rehabilitation services, and a trend toward personalized medicine.
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Market Drivers and Trends:
The increasing incidence of strokes is expected to propel the growth of the adult intraventricular hemorrhage market going forward. A stroke is a medical emergency that occurs when blood flow to the brain is interrupted or reduced, leading to brain cell damage. The increasing incidence of strokes is primarily due to factors such as an aging population, rising rates of hypertension, diabetes, and obesity, and lifestyle-related risk factors such as smoking and physical inactivity. Strokes can cause adult intraventricular hemorrhage (IVH) by leading to bleeding within the brain's ventricular system, often due to ruptured blood vessels. For instance, in June 2024, according to the Australian Bureau of Statistics, an Australia-based government agency, there were 9,100 doctor-certified deaths due to cerebrovascular diseases, including stroke, in 2020. This number rose to 9,300 in both 2021 and 2022. This increase marks a reversal of a historical decline, with the number of deaths in 2022 being 2.2% higher than in 2020. Therefore, the increasing incidence of strokes is driving the growth of the adult intraventricular hemorrhage market.
Major companies operating in the adult intraventricular hemorrhage market are focused on developing innovative products, such as neuroaccess devices, for neurovascular management of ischemic and hemorrhagic strokes. Neuroaccess devices are medical tools used to gain entry to the brain or spinal cord for diagnostic or therapeutic procedures. For instance, in June 2024, Penumbra Inc., a US-based medical device company, announced the CE Mark approval and European launch of its BMX81 and BMX96 neuroaccess devices for managing ischemic and hemorrhagic stroke. These devices are designed for the neurovascular management of ischemic and hemorrhagic strokes and are Penumbra's most advanced neuroaccess offerings. Unlike traditional access catheters, the BMX81 and BMX96 are made using laser-cut stainless steel hypo tube technology, offering stability and trackability to allow physicians to easily navigate the brain's complex anatomy.
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Major Key Players of the Market:
Johnson and Johnson, Abbott Laboratories, Medtronic Plc, Siemens Healthineers, Medline Industries, Philips Healthcare Inc., Stryker Corporation, GE HealthCare Technologies Inc., Teva Pharmaceutical Industries Ltd., Boston Scientific Corporation, B. Braun Melsungen AG, Alcon Inc., Zimmer Biomet Holdings Inc., Olympus Corporation, Smith and Nephew, Kaneka Corporation, Karl Storz SE and Co. KG, Carl Zeiss Meditec AG, Integra Lifesciences Holdings Corp, Elekta AB, Leica Microsystems GmbH, KLS Martin Group, Natus Medical Incorporated, Aesculap Inc., NeuroPace Inc., Sophysa USA Inc, Spiegelberg GmbH and Co. KG, Vivonics Inc.
Adult Intraventricular Hemorrhage Market 2024 Key Insights:
• The adult intraventricular hemorrhage market size is expected to see strong growth in the next few years. It will grow to $2.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%.
• Growth Of Adult Intraventricular Hemorrhage Market Driven By Increasing Stroke Incidence
• Innovative Neuroaccess Devices Enhancing Neurovascular Management
• North America was the largest region in the adult intraventricular hemorrhage market in 2023
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