Portland, OR, Sept. 17, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global neurovascular devices market was estimated at $2.93 billion in 2019 and is expected to hit $3.71 billion by 2027, registering a CAGR of 5.2% from 2020 to 2027. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Increase in geriatric population across the globe, rise in prevalence of neurovascular diseases, and technological advancements related to neurovascular devices fuel the growth of the global neurovascular devices market. On the other hand, high cost of neurovascular devices and lack of expert neurosurgeons across the globe curtail down the growth to certain extent. However, several opportunities in emerging markets have proven to be highly advantageous for the frontrunners in the sector.
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Covid-19 scenario-
- The outbreak of Covid-19 has led to postponements of several elective surgical procedures which, in turn, has impacted the global neurovascular devices market negatively.
- At the same time, any surgical process, irrespective of its type and pattern, necessitates certain arrangement to put together proper plan for the surgical treatment. The pandemic has created a turbulence across the world, thus disturbing the growth of the global market.
The global neurovascular devices market is analyzed across product, disease pathology, and region. By product, the embolization devices segment contributed to more than two-fifths of the total market share in 2019 and is anticipated to lead the trail till 2027. The revascularization devices segment, on the other hand, would register the fastest CAGR of 6.9% during the study period.
By disease pathology, the aneurysm segment accounted for nearly half of the total market revenue in 2019 and is expected to rule the roost by the end of 2027. At the same time, the ischemic stroke segment would manifest the fastest CAGR of 7.4% throughout the forecast period.
Byregion, North America held the highest share in 2019, garnering more than one-third of the global neurovascular devices market. At the same time, Asia-Pacific would grow at the fastest CAGR of 7.1% from 2020 to 2027. The other provinces covered in the market report include Europe and LAMEA.
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The key market players analyzed in the global neurovascular devices market report include Stryker Corporation,Johnson & Johnson, Penumbra, Inc.,Acandis GmbH., Merit Medical Systems, Inc..,W. L. Gore & Associates, Inc., Medtronic Plc, Microport Scientific Corporation, Terumo Corporation, and Integer Holdings Corporation.These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry.
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