The Neurovascular Devices Market is forecasted to grow from USD 2.23 Billion in 2019 to USD 3.53 Billion by 2027, delivering a CAGR of 5.6% during the forecast period. The market is primarily driven by the growing target population for patients, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and the increased market demand for effective neurovascular devices.
Technological advancements have improved life expectancy, resulting in an increase in the geriatric population as a consequence. The geriatric population (ages 60 & above) is projected to increase by 57% from 902 million in 2015 to 1.41 Billion by 2030, according to a report published by the United Nations. As a result, the geriatric population around the globe is expected to boost the demand for neurovascular devices.
Request free sample of this research report at: https://www.reportsanddata.com/sample-enquiry-form/1348
Technological developments in neurovascular therapy such as, the development of GORE TIGRIS by W L Gore and Medtronic distal filter embolic protection device SpiderFX, are expected to serve as a high impact rendering driver. The inclination towards minimally invasive surgery in brain aneurysm and stroke treatments will be a critical factor that will boost market growth.
The increasing number of neurovascular therapy research, increased demand for minimally invasive neurosurgical procedures, and increasing awareness about minimally invasive surgical procedures among neurosurgeons provide significant market growth opportunities. However, strict regulatory scenario and skilled neurosurgeon dearth might hinder the growth of the market during the forecast period.
Further key findings from the report suggest
- The Neurovascular Devices Market is forecasted to grow from USD 2.23 Billion in 2019 to USD 3.53 Billion by 2027, delivering a CAGR of 5.6% during the forecast period. The market is primarily driven by the growing target population for patients, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and increased market demand for effective neurovascular devices.
- The market for cerebral embolization and aneurysm coiling devices is expected to reach the valuation of USD 1.18 Billion in 2027, at a CAGR of 6.5% during the forecast period. The growing geriatric population and prevalence of cerebrovascular disorder are likely to encourage the development of this segment. Cerebral angiography involves using contrast colors and X-rays to monitor blood flow through the brain. Products for neuro thrombectomy are used in patients who are ineligible for activator therapy for tissue plasminogen.
- The market for stroke is expected to grow the largest at USD 2.02 Billion in 2027, at a CAGR of 6.1% during the forecast period. Motor impairment, which causes movement disabilities, is the most common outcome associated with stroke. The primary focus in stroke rehabilitation with the help of stents and embolization coils is the recovery of lost artery functions.
- In 2019, North America dominated the market for Neurovascular devices. The North American market is expected to reach the valuation of USD 1.28 Billion in 2027, at a CAGR of 6% during the forecast period. Key factors driving the growth of the sector include favorable reimbursement structure, particularly in the U.S., large-scale R&D investments, and extensive use of neurosurgical products supported by the availability of advanced technologies with higher efficiency and confidence.
- The major players in the market are W. L. Gore & Associates, Inc. (U.S.), Terumo Corp. (Japan), Abbott Laboratories (U.S.), Merit Medical Systems, Inc. (U.S.), Medtronic Plc (Ireland), Penumbra, Inc. (U.S.), Stryker Corp. (U.S.), Johnson & Johnson (U.S.), MicroPort Scientific Corp. (China), and others.
Order Your Copy Now: https://www.reportsanddata.com/checkout-form/1348
Segments Covered in the report:
This report forecasts volume and revenue growth at global, regional, and country levels to provides an analysis of industry trends in each segment and sub-segment from 2017 to 2027. For the purpose of this study, Reports and Data segments the market on the basis of type, application, and region.
Type (Revenue, USD Million; 2017-2027)
- Cerebral Embolization and Aneurysm Coiling
- Embolic Coils
- Flow Diversion
- Liquid Embolic Agents
- Cerebral Angioplasty and Stenting Systems
- Carotid Artery Stents
- Embolic Protection Systems
- Clot Retrieval
- Vascular Snares
- Micro Catheters
- Micro Guidewires
Application (Revenue, USD Million; 2017-2027)
- Cerebral Artery Stenosis
- Cerebral Aneurysm
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/neurovascular-devices-market
Region (Revenue, USD Million; 2017-2027)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Head of Business Development
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370