The global neurovascular device market was valued at USD 1.62 billion
in the year 2015 and is expected to reach a value of USD 2.92 billion by 2024,
growing at a CAGR of 6.5% according to a new report by Grand View Research,
Inc.
Key factors driving the market growth include increase in patients
suffering from cerebral vascular disorders mandating assistance of
neurovascular devices such as cerebral embolization and aneurysm coils,
implementation of advanced technological platforms in this field, and the
favorable reimbursement policies across established markets such as the U.S.,
Canada, U.K., Germany, and Japan.
The market is segmented on the basis of device type and respective
therapeutic applications. The embolization coils are widely employed in the
treatments of strokes and cerebral aneurysms. They are responsible for majority
of market share in the device type segment. According to World Health
Organization (WHO), strokes are the leading cause of disability and third cause
of death across the world. Stroke therapeutic application segment accounts for
the largest market as compared to others. In addition, according to the
American Heart Association, nearly 5% of the population is currently suffering
from the cerebral aneurysms. Aneurysms can cause moderate to severe brain
damage depending upon the condition. Therefore, their treatment is contributing
to the increased demand of these platforms.
The embolization and aneurysms coiling devices are minimally invasive
and are employed in effectively treating the aneurysms. Several diseases can be
treated with the help of a single coil however; the unusual cerebral aneurysms
require several expensive coils. Due to the efficacy, the volume for these
procedures has increased over the years. This trend will continue over the
forecast period, thereby rendering the leading position for this segment in
terms of revenue share. The stenting systems possess the potential to address
complex natured aneurysms, which were untreatable in the past. Hence, the
cerebral angioplasty and stenting systems will exhibit an impressive growth
pattern during the forecast period.
Moreover, Stryker Corporation is a key leader in the neurovascular
device market, owing to the strategic acquisition of complete neurovascular
portfolio of Boston Scientific Corporation in the year 2010. The other notable
players in this industry include Abbott Laboratories, W.L. Gore &
Associates, Inc., Micorport Scientific Corporation, and Terumo Corporation.
Full Research Report On neurovascular device market
Analysis:
http://www.grandviewresearch.com/industry-analysis/neurovascular-devices-market
http://www.grandviewresearch.com/industry-analysis/neurovascular-devices-market
Further Key Findings from the Study Suggest:
·
Rising incidence of cerebral vascular
disorders such as strokes (both ischemic and hemorrhagic), arterial stenosis,
and brain aneurysms are primarily responsible for the high demand for
neurovascular diseases.
·
On the basis of types, the market is
segmented into embolization and aneurysms coils, stenting systems,
neurothrombectomy and support devices. Among these, embolic coils are widely
used owing to the safety and efficacy, followed by the stenting systems.
·
According to the therapeutic application of
the device type, stroke accounts for the largest market share, reason being the
leading cause of disability and third cause of deaths worldwide.
·
In addition, the rising geriatric
population and increased life expectancy are causing an increase in the target
patient population.
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Grand View Research has segmented the neurovascular device market by
type, therapeutic application, and region:
Device Type Outlook (Revenue,
USD Million; 2013 - 2024)
·
Cerebral Embolization and Aneurysm Coiling
Devices
o Embolic Coils
o Flow Diversion Devices
o Liquid Embolic Agents
·
Cerebral Angioplasty and Stenting Systems
o Carotid Artery Stents
o Embolic Protection Systems (Distal Filter Devices, Balloon
Occlusion Devices)
·
Neurothrombectomy Devices
o Clot retrieval Devices
o Suction Devices
o Vascular Snares
·
Support Devices
o Micro catheters
o Micro guidewires
Therapeutic Applications
Outlook (Revenue, USD Million; 2013 - 2024)
·
Stroke
·
Cerebral Artery Stenosis
·
Cerebral Aneurysm
·
Others
Regional Outlook (Revenue,
USD Million; 2013 - 2024)
·
North America
o U.S.
o Canada
·
Europe
o Germany
o UK
·
Asia Pacific
o China
o Japan
·
Latin America
o Mexico
o Brazil
·
MEA
o South
Africa
Access Full Press Release of this Report:
https://www.grandviewresearch.com/press-release/global-neurovascular-devices-market-size-report
https://www.grandviewresearch.com/press-release/global-neurovascular-devices-market-size-report
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
For more information: https://www.grandviewresearch.com/
