According to the report “North America Interventional Neurology/Neurovascular Devices Market,” published by Market Data Forecast, the global market is projected to reach USD 1,111.91 million by 2021, at a CAGR of 8.5% from 2016 to 2021.
Interventional neurology is a medical subspecialty that includes the use of medical imaging equipment to visualize the neck, head, and spine for the purpose of therapeutic and diagnostic procedures. Specialists in this field have trained in the fields of neurology before pursuing a fellowship in interventional neurology to get specialized training. They can work for neurology centers and also for hospitals, offering a various variety of procedures to their patients. Only when they are referred by another doctor, People usually see this type of medical specialist.
Interventional neurology is a non-surgical specialty that uses a number of options for treatment like image guided techniques, minimally invasive for the treatment of many complex and dangerous diseases of brain, neck and spine. The specialty for the treatment of these neurovascular diseases is known as neurosurgery. A variety of material such as cobalt, nitinol, and platinum are used in neurovascular devices to achieve the specific characteristics for ischemic stroke prevention and aneurysm repair. In many cases of ischemic stroke where a patient arrives at the hospital outside of the time window open to traditional treatment, an interventional neurologist may be able to address the patient’s condition..
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North America Interventional Neurology Devices Market: Drivers & Restraints
North America Interventional neurology market is mainly driven by growth in patient population, advancements in technology, favourable reimbursements across mature markets, significant adoption of neurovascular devices among neurosurgeons, presence of key manufacturers in the region, and increasing R&D investments. But, ongoing healthcare reforms in United States, lack of skilled neurosurgeons, stringent regulatory bodies across major markets are hindering the growth of neurology market.
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North America Interventional Neurology Devices Market: Segmentation
- Embolization and Coiling
- Carotid Stenting
- Micro support devices
- Y-o-Y Growth Analysis, By Technology
- Market Attractiveness Analysis, By Technology
- Market Share Analysis, By Technology
- Carotid Stent
- Flow Diversion
- Suction Device
- stenting systems
- Clot Retrieval
- Y-o-Y Growth Analysis, By Product
- Market Attractiveness Analysis, By Product
- Market Share Analysis, By Product
- Ambulatory centers
- Neurology clinics
- Y-o-Y Growth Analysis, By End-users
- Market Attractiveness Analysis, By End-users
- Market Share Analysis, By End-users
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North America Interventional Neurology Devices Market: Overview
North America is expected to account the highest share in the market owing to significant adoption of neurovascular devices among neurosurgeons, presence of key manufacturers in the region, and increasing R&D investments are driving the growth of the North American interventional neurology market. Neurostimulation devices accounted for over 50% of the revenue generated in the market for 2014. This large share can be attributed to the growing number of chronic CNS disorders, a globally ageing population and development of minimally invasive neurological and faster acting stimulation devices that attract higher market usage and penetration in the neurology devices market.
According to National Institute of Neurological Disorders and Stroke (NINDS), approximately 50 million Americans are affected due to these disorders leading to high economic & disease costs burden for medical expenses coupled with loss of productivity. The industry is expected to witness a considerable increase in demand for CNS related therapeutic procedures over the forecast period.
North America Interventional Neurology Devices Market: Region-wise Outlook
Based on Geography, the North America Interventional Neurology market is analyzed under various regions namely U.S and Canada. North America is predicted to account the largest share of the interventional neurology market, followed by Europe and Asia-Pacific. Moreover, Asia-Pacific is expected to show highest CAGR during the forecast period.
Key Questions Answered
- What will be the market growth till 2021 and what will be the resultant market forecast in the year?
- What was the market size from 2016 to 2021 ?
- What is the current and future Interventional Neurology Devices Market outlook in North America?
- What trends are affecting the Global market?
- What is the competitive landscape and market share of major players in the Interventional Neurology Devices space in North America?
- What are the key, high growth markets that Interventional Neurology Devices manufacturers should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Interventional Neurology Devices currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Interventional Neurology Devices?
- What are the challenges and barriers that have hindered widespread adoption of Interventional Neurology Devices?
North America Interventional Neurology Devices Market: Key Players
Key players in North America Interventional Neurology Market are Stryker Corporation, Medtronic plc, Penumbra Inc., Johnson & Johnson, Terumo Corporation, Abbott Laboratories, W. L. Gore & Associates Inc., Merit Medical Systems Inc., Microport Scientific Corporation, and Medikit Co., Ltd.
Reasons to buy North America Interventional Neurology Devices Market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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