Global Neurovascular Devices Market Size Worth over USD 7,011 Million in 2035 | Roots Analysis

Global Neurovascular Devices Market Overview

The global neurovascular devices market is anticipated to be worth USD 3,325 million in current year and this value is likely to reach USD 7,011 million by 2035, expanding at a CAGR of 7.02% according to a new report by Roots Analysis.

The growth in the global neurovascular devices market size over the next decade is likely to be the result of a rise in the demand for advanced, targeted and minimally invasive techniques for an effective treatment of neurovascular disorders. Neurovascular devices include catheters, embolic devices and guidewires which selectively repair the disrupted blood flow within the brain. These targeted devices have emerged as a potential alternative to conventional surgical methods owing to their several benefits such as high precision, reduced complications and better patient outcomes.

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Key Report Takeaways

1. Currently, more than 50 device developers, globally, are engaged in developing neurovascular devices; around 70% of these devices are developed by mid-sized and small players headquartered in developed geographies
2. Around 90% of the neurovascular devices are already commercialized; owing to the fact that these devices reduce the chances of disease recurrence and have higher success rate
3. In pursuit of expanding the neurovascular devices portfolio, the partnership activity in this domain has witnessed a substantial growth with an annualized rate of 52% since 2019
4. Owing to various advantages offered by neurovascular devices in improving patient care outcomes, multiple investors have extended financial support; over USD 1.5 billion has been invested in the last few years
5. As a result of the growing demand for minimally invasive devices, the global neurovascular devices market is likely to grow at a CAGR of 7.02% over the forecast period
6. The global neurovascular devices market is expected to be well distributed across different type of device, therapeutic application, end users, key geographical regions and key leading players

Competitive Landscape of Global Neurovascular Devices Market

The global neurovascular devices market landscape features over 340 commercialized and under-development stage devices. Overall, the market landscape of neurovascular devices is well-fragmented, featuring the presence of very small, small, mid-sized, large, and very large device developers, which claim to have the required expertise and technologies to develop and commercialize neurovascular devices for different types of neurovascular conditions. It is interesting to highlight that most of these (~41%) neurovascular devices companies are located in North America, followed by Asia-Pacific; prominent hubs in North America include US and Canada. Additionally, key players, including Johnson & Johnson, Medtronic Inc., MicroVention, Penumbra Inc. and Stryker Corporation offer more than 20 neurovascular devices within their respective portfolios.

Global Neurovascular Devices Market Regional Outlook

Based on the key geographical regions, the global neurovascular devices market can be segmented into five major regions, North America, Europe, Asia-Pacific, Middle East and North Africa and Latin America. Led by the US, North America is anticipated to capture the majority share of the global neurovascular devices market in the current year and this trend is likely to remain unchanged during the forecast period. Key industry players such as Johnson & Johnson, Medtronic, MicroVention, Penumbra and Stryker are pivotal in shaping the market dynamics in this region. Additionally, the rising focus on expanding healthcare infrastructure with advanced treatments in Middle East and North Africa is likely to be the reason to increase the application of neurovascular devices in the region.

Latin America is likely to exhibit lucrative opportunities owing to increasing prevalence of neurovascular disorders cases. The preference towards advanced neuro interventional devices is one of the promising growth factor in the Latin America.

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Global Neurovascular Devices Market Key Players
Examples of key companies engaged in global neurovascular devices market (which have also been profiled in this market report; the complete list of companies is available in the full report) include:

1. Acandis
2. Achieva Medical
3. Balt
4. HeMo Bioengineering
5. Johnson & Johnson
6. Medtronic Inc.
7. MicroVention
8. Penumbra Inc.
9. Phenox
10. Shanghai Heartcare Medical Technology
11. Stryker Corporation
12. Zylox-Tonbridge

Global Neurovascular Devices Market Segments

Based on the research, Roots Analysis has segmented the Global Neurovascular Devices Market into Type of Device, Therapeutic Application, End Users, Key Geographical Regions and Key Leading Players

Global Neurovascular Devices Market, by Type of Device
1. Neurothrombectomy Devices
2. Embolization Devices
3. Angioplasty Devices

Global Neurovascular Devices Market, by Therapeutic Application
1. Ischemic Stroke
2. Aneurysm
3. Stenosis
4. Arteriovenous Malformations (AVMs)

Global Neurovascular Devices Market, by End User
1. Hospitals and Specialty Clinics
2. Ambulatory Care Centres
3. Other End Users

Global Neurovascular Devices Market, by Key Geographical Regions
1. North America
2. Europe
3. Asia-Pacific
4. Middle East and North Africa
5. Latin America

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Contact Details
Gaurav Chaudhary
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+44 (122) 391 1091
Email: Gaurav.chaudhary@rootsanalysis.com or sales@rootsanalysis.com
Website: https://www.rootsanalysis.com

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Roots Analysis is a global leader in the pharma / biotech market research. Having worked with over 750 clients worldwide, including Fortune 500 companies, start-ups, academia, venture capitalists and strategic investors for more than a decade, we offer a highly analytical / data-driven perspective to a network of over 450,000 senior industry stakeholders looking for credible market insights. All reports provided by us are structured in a way that enables the reader to develop a thorough perspective on the given subject. Apart from writing reports on identified areas, we provide bespoke research / consulting services dedicated to serve our clients in the best possible way.

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