PORTLAND, Ore., Feb. 09, 2021 (GLOBE NEWSWIRE) -- As per the report published by Allied Market Research, the U.S. Neurovascular Devices Market was pegged at $946.15 million in 2019, and is expected to garner $1.07 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027. The report provides an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
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Rise in prevalence of neurovascular diseases, increase in geriatric population across the U.S., technological advancements associated with neurovascular devices, and surge in incidence of underlying disease conditions drive the growth of the U.S. Neurovascular Devices market. On the other hand, higher prices of neurovascular devices restrain the market growth. However, increase in demand for minimally invasive procedures in U.S. offers novel opportunities to the market players in the coming years.
Covid-19 Scenario
- Limited availability of medical care for situation other than covid-19 and healthcare staff in the country during the initial phase of covid-19 has interrupted the growth of the neurovascular market.
- The nationwide lockdown and government regulations, and continuous rise in infection rate in the country created a widespread financial impact on the neurology hospitals and clinics.
- A variety of hospitals and clinics have witnessed a decline in number of patient visits during COVID-19, thereby decreasing client contacts. Furthermore, many neurovascular treatments have been delayed due to the Covid-19 crisis.
The U.S. neurovascular devices market is segmented on the basis of product and disease pathology. Based on product, the market is divided into embolization devices, revascularization devices, thrombectomy devices, embolic protection devices, and accessory devices. The embolization devices segment contributed to more than two-fifths of the U.S. neurovascular devices market in 2019, and is estimated to maintain its lead position during the forecast period. On the other hand, the revascularization devices segment is anticipated to register the highest CAGR of 5.4% from 2020 to 2027.
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Based on disease pathology, the he market is classified into aneurysm, arteriovenous malformation, ischemic stroke, stenosis, and others. The aneurysm segment accounted for nearly half of the U.S. Neurovascular Devices market in 2019, and is expected to maintain its leadership status in terms of revenue throughout the forecast period. Nevertheless, the ischemic stroke segment is estimated to manifest the fastest CAGR of 5.9% from 2020 to 2027.
The leading market players in the report include B. Braun Melsungen AG, Integer Holdings Corporation, Johnson & Johnson (Cerenovus), Medtronic Plc., Merit Medical Systems, Inc., Microport Scientific Corporation, Penumbra, Inc., SAES Getters SpA (Memry Corporation), Stryker Corporation, Terumo Corporation (Microvention, Inc.).
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We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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