Innovation in neurovascular disease treatment majorly drives the market growth. For instance, increase in adoption of internal carotid artery stenting for the treatment of intracranial atherosclerotic disease and rise in use of embolization for cerebral AVMs have fueled the market growth.
The key players in the global neurovascular devices market are expanding the scope of their business operations by including inventive products in their product portfolios. The report includes a detailed competitive analysis of the major market players, such as Johnson & Johnson, Terumo Corporation, Penumbra, Inc., Stryker Corporation, Medtronic Plc., Microport Scientific Corporation, Acandis GmbH & Co. KG, Merit Medical Systems, Inc., Integer Holdings Corporation, and and W.L. Gore & Associates.
The global neurovascular devices market was valued at $2,371 million in 2016, and is projected to reach $3,409 million by 2023, growing at a CAGR of 5.3% from 2017 to 2023. The embolization devices segment held more than two-fifths share of the total market in 2016.
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The key business insights discussed in the report help the interested business owners and individuals understand the entire market. It provides an overview of the drivers, restraints, and opportunities impacting the industry. It tells about the market size, top pocket investments, segmentation, and key market strategies that are currently dominating the market. It also shares information about the leading players operating in the market.
The report emphasizes on the various segments of global neurovascular devices market. The market is segmented into product, disease pathology, and region. Based on Product, the market is divided into embolization devices, revascularization devices, accessory devices, thrombectomy devices and embolic protection devices. The report splits the disease pathology segment into aneurysm, arteriovenous Malformation and fistulas (AVM). ischemic stroke, and stenosis. The market is analyzed across various regions including North America, Asia-Pacific, Europe, and Latin America, Middle East and Africa (LAMEA).
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By product, the revascularization devices segment is expected to grow at a CAGR of 8.5% during the forecast period, thereby coming up as the fastest growing sector. Based on disease pathology, Aneurysm accounted for nearly three-fifth of the total market in 2016 and is expected to be dominant during the forecast period. By geography, Asia-Pacific has been cited as the fasted growing sector, registering a CAGR of 5.9% by 2023. This is due to improvement in healthcare infrastructures and rise in expenditures in emerging markets (such as India and China) to cater to the unmet medical needs.
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