Selbyville, Delaware, March 01, 2022 (GLOBE NEWSWIRE) --
Global neurovascular devices market value is projected to reach USD 4.5 Bn by 2028, according to a new research report by Global Market Insights Inc. Growing geriatric population coupled with rising prevalence of neurological disorders such as strokes, brain aneurysm, and epilepsy in developing countries will drive the overall industry growth.
Growing awareness among neurosurgeons as well as patients about minimally invasive surgical techniques for treatment of various neurological disorders will spur market demand. Additionally, market players are focusing on integration of high-tech solutions including mixed reality (MR) and augmented reality (AR) into minimally invasive neurosurgery devices that will foster business progression. Patients with neurovascular diseases using minimally invasive techniques experience reduced cost of treatments, less pain, and quick recovery time. Also, aging population are more prone to neurovascular diseases and prefer treatment procedure that is less invasive, offer high safety and least possible hospital stay. Thus, due to such advantages will foster the market statistics.
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Some major findings of the neurovascular devices market report include:
- Rising technological advancements in neurovascular devices will foster the market revenue.
- Increasing use of embolic coils in wide range of medical applications, such as brain aneurysm, ischemic strokes and stenosis will boost the market demand.
- Increasing R&D investments for developing advanced neurovascular devices will propel industry landscape.
- The difficulties associated with the commercialization of neurovascular devices in developing economies will hamper business outlook during analysis period.
Flow diverters segment is expected to exhibit around 7% CAGR during the analysis timeframe. The flow diverters are most commonly used endovascular devices for treating brain aneurysms. Flow diverters such as Pipeline Embolization Device (PED) are gaining popularity for treating unruptured large intracranial aneurysms. Such usage of these devices will flourish the segmental market value. Furthermore, increasing advanced product launch to treat brain aneurysm are set to drive the industry expansion.
Browse key industry insights spread across 280 pages with 308 market data tables & 15 figures & charts from the report, “Neurovascular Devices Market Analysis By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), Process (Neurothrombectomy, Cerebral Angiography, Carotid Endarterectomy, Stenting, Microsurgical Clipping, Coiling, Flow Diversion), Therapeutic Applications (Brain Aneurysm, Stenosis, Ischemic Strokes), End-use (Hospitals, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2028” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/neurovascular-devices-market
Carotid endarterectomy segment account for around USD 220 million in 2021. The growth is owed to rising cases of carotid stenosis. Carotid stenosis usually occurs when fatty, waxy deposits build up in one of the carotid arteries. Moreover, increase in transient ischemic attacks (TIAs) usually caused by a blood clot further accelerates the demand for carotid endarterectomy thereby, propelling its market revenue.
Neurovascular devices market from stenosis segment held 14.5% revenue share in 2021. This is owing to surging number of patient suffering with spinal stenosis. For instance, according to the American Academy of Orthopedic Surgery report, in 2021, approximately 2.4 million Americans population suffered with spinal stenosis. Maximum patients that at present are suffering with stenosis are older patients with more chronic or recurring indications of degenerative spinal disease and aortic stenosis. Such scenarios will therefore propel the business landscape.
Clinics segment accounted for around 13% market share in 2021 due to rising preference towards clinics, as it provides cost-effective primary care to patients with neurovascular disorders such as aneurysms, hemorrhagic strokes, and others. In addition, several clinics equipped with advanced neurovascular devices will spur the segmental demand. Moreover, medical professionals are increasingly focusing towards opening their clinics in sub-urban and tier-2 cities, such scenario expected to drive the business outlook.
Asia Pacific neurovascular devices market held around USD 793 million revenue in 2021. The regional growth is ascribable to rapidly increasing healthcare expenditure, robust geriatric population along with high neurovascular disease burden throughout the region. Therefore, the industry prospects are accredited to the robust development of medical devices and the presence of companies that are recognized market leaders. Furthermore, large patient pool, increasing disposable income and new product launches across the region will offer attractive growth opportunities for business expansion over the foreseeable future.
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Some of the prominent business players operating in neurovascular devices industry include Asahi Intecc CO., LTD., Boston Scientific Corporation, Integer Holdings Corporation, Johnson & Johnson Services, Inc., Kaneka Medix Corp., LivaNova PLC, Medtronic, MicroPort Scientific Corporation, Penumbra, Inc., Stryker, and Terumo Corporation.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
