The global neurovascular devices market size is estimated to reach USD 4.28 billion by 2026, exhibiting a CAGR of 8.3% during the forecast period. One of the key drivers propelling the growth of this market is the increasing incidence of strokes on a global scale. According to the Brain Aneurysm Foundation, an estimated 6 million Americans each year suffer from cerebral aneurysms. The condition is also responsible for a half-million deaths globally each year. About 40% of ruptures result in death, and of those who survive, approximately 66% have some permanent brain damage. These neurovascular devices market trends along with the accessibility of new treatment options will substantively raise the demand for neurovascular devices in the forthcoming years.
As per the report, published by Fortune Business Insights, titled “Neurovascular Devices Market Size, Share & Industry Analysis, By Device Type (Stenting Systems, Embolization Devices, Neurothrombectomy Devices and Support Devices), By Application (Cerebral Aneurysms, Ischemic Stroke and Others), By End User (Hospitals, Specialty Clinics and Others) and Regional Forecast, 2019-2026” the market stood at USD 2.26 billion in 2018. The report stresses on all the aspects and characteristics of the market.
Highlights of the Report:
- In-depth analysis of various insights, namely, Neurovascular Devices Market trends, growth drivers, opportunities, and other related challenges.
- Comprehensive details of key market players, their core competencies, and Neurovascular Devices Market share.
- The potency of suppliers and buyers to make better business decisions.
- Lists out the market size in terms of volume.
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Key Players Operating in The Neurovascular Devices Market Include:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- Penumbra, Inc.
- Terumo Corporation
- Johnson & Johnson Services, Inc.
- Merit Medical Systems
- L. Gore & Associates, Inc.
- MicroPort Scientific Corporation
- Other Players
Numerous Advantages of Embolization Devices to Invoke Demand
The neurosurgeons are primarily focusing on the embolization of intracranial haemorrhages and cerebral aneurysms. The durability of the embolization devices over surgical clipping procedures has proven to be one of the major contributing factors in fuelling the demand for embolization devices. The superiority of the device in demonstrating clinical efficiency will augment healthy growth for the segment. Additionally, the aim to create cost-effective and efficient devices by key players will substantively have a positive impact on the neurovascular devices market shares.
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Increasing Reimbursement Policies to Enrich Market Potential
The government is implementing strict regulations for devices, followed by the implementation of reimbursement policies for the treatment of neurovascular diseases. This is solely due to the rising cases of strokes, which is burdensome for the patients on account of the high-cost associated with treatment. In the U.S., the average cost per person for treatment of ischemic stroke is estimated to be around USD 73,000 to USD 77,300 annually. Therefore, the increasing availability of reimbursement through public and private health insurance has created a vast space for the expansion of the neurovascular devices market growth. Therefore, an increasing number of patients undergoing treatment and surgeries in the emerging nations has impelled the government and non- government organizations to take stern decisions for the implementation of reimbursement policies.
Detailed Table of Content:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Incidence of Strokes, By Key Regions/Countries, 2018
- New Product Launch, By Key Players
- Technological Advancements in Neurovascular Devices
- Key Industry Developments – Partnerships, Mergers and Acquisitions
- Global Neurovascular Devices Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Device Type
- Stenting Systems
- Embolization Devices
- Neurothrombectomy Devices
- Support Devices
- Market Analysis, Insights and Forecast – By Application
- Cerebral Aneurysms
- Ischemic Stroke
- Market Analysis, Insights and Forecast – By End User
- Specialty Clinics
- Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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Reasons to Purchase this Report:
- Comprehensive analysis of the Neurovascular Devices Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Neurovascular Devices Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
KEY QUESTIONS ANSWERED:
- What is the market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Neurovascular Devices Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
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