This study covers the market dynamics and trends in major countries that are expected to influence the current market scenario and future status of the Global Neurovascular Devices Market over the forecast period. The Global Neurovascular Devices Market is expected to grow at a CAGR of 8.8% during forecast period.
MarketResearchFuture.com adds “Neurovascular Devices Market – 2018 Global Analysis, Growth, Trends and Opportunities Research Report forecasting to 2023” reports to its database.
Neurovascular devices are extensively used for the treatment of neurovascular diseases like brain aneurysm, arteriovenous malformations (AVMs), and others. With the increasing global burden of the neurovascular diseases and rising demand for minimally invasive procedures, the market for neurovascular devices was developed. The market continues to expand on these suitable platforms. Additionally, factors such as favorable reimbursement policies, and ongoing product development & commercialization drive the market growth. Thus, the global market for neurovascular devices is expected to grow at an exponential rate during the forecast period. Majority of the market players are focusing on the acquisitions, product launches, and distribution agreements. It was estimated that the NHS spent approximately USD 6.6 billion on neurological conditions from 2012-2013. However, high procedural cost followed by reported cases of injury and the need for physician training is estimated to restrain the market growth during the forecast period. It is reported that the average cost for the treatment of neurovascular devices using flow diversion is estimated to be about USD 24,650.
Factors such as growing geriatric population, favorable reimbursement policies, and ongoing product development & commercialization favor the growth of the global neurovascular devices market. Additionally, increasing prevalence of neurovascular diseases like brain aneurysm, arteriovenous malformations (AVMs), and others followed by rising demands for minimally invasive therapeutic procedures fuels the market growth. However, high procedural cost, increase in the number of reported cases of injury, and need for physician training is estimated to restrain the market growth during the forecast period.
The key players for the global neurovascular devices market are Stryker, Medtronic, Johnson & Johnson Services, Inc., TERUMO CORPORATION, Abbott, Merit Medical Systems, Inc., Medikit co., ltd., Penumbra, Inc., MicroPort Scientific Corporation, Evasc, Rapid Medical, Neuravi, W. L. Gore & Associates, Inc., OxfordEndovascular, Sensome, Blockade Medical, LLC. Delaware Corporation, Secant Group, LLC, and Gynesonics.
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The Americas dominate the global neurovascular devices market owing to increasing prevalence of neurovascular diseases like brain aneurysm, arteriovenous malformations (AVMs), besides others. In 2014, according to a study published in the Methodist DeBakey Cardiovascular Journal, about one million strokes occurred annually in the U.S. with 10% to 15% accounting for the intracranial atherosclerotic disease. Moreover, increasing healthcare expenditure and presence of the key players within the regions boosts the growth of the market in the Americas.
Europe is the second largest neurovascular devices market, which is followed by Asia Pacific. Presence of a well-developed healthcare sector, increasing prevalence of the neurovascular diseases are the major drivers for market growth within the region. According to the Neurological Alliance in 2014, the number of neurological cases in England reached approximately 12.5 million- accounting for 59,000 cases per clinical commissioning group.
Asia Pacific is the fastest growing region for the market due to the presence of a huge patient population, continuously developing economies like India & China, and increasing demands for minimally invasive surgeries by the growing geriatric population. In 2016, according to the United Nations Economic and Social Commission for Asia and the Pacific, approximately 12.4% of the population in the region aged 60 years or more, which is projected to increase to more than a quarter and reach 1.3 billion by 2050.
On the other hand, the Middle East & Africa has the least share of the global neurovascular devices market due to the presence of poor economy, especially in the Africa region. The Middle East holds the majority of the market of this region due to a well-developed healthcare sector and huge healthcare expenditure by the developed economies like Kuwait, Qatar, Dubai, and others.
- Pharmaceutical Companies
- Biotechnological Institutes
- Government and Private Laboratories
- Research and Development (R&D) Companies
- Medical Research Laboratories
- Market Research and Consulting Service Providers
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The global neurovascular devices market is segmented on the basis of product, therapeutic application, and end-user.
On the basis of the product, the market is segmented into aneurysm coiling & embolization devices, neurothrombectomy devices, support device, cerebral balloon angioplasty, and stenting systems. The aneurysm coiling & embolization devices segment is sub-segmented into embolic coils, flow diversion devices, and liquid embolic. The neurothrombectomy devices segment is sub-segmented into retrieval systems, and suction and aspiration devices. The support device segment is sub-segmented into microcatheters and microguidewires. The cerebral balloon angioplasty and stenting systems segment is sub-segmented into carotid artery stents and embolic protection systems. On the basis of the therapeutic application, the market is categorized into hemorrhagic stroke and ischemic strokes. On the basis of the end-users, the market is segmented into hospitals & clinics and ambulatory surgical units.
What makes our report unique?
1) An extensive research study on the Global Neurovascular Devices market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Neurovascular Devices market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
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