Worldwide Market Reports added Latest Research Report titled "Interventional Neurology Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026" to its Large Report database.
The Global Interventional Neurology Market is projected to reach USD 2,684.6 million by 2024, according to a new report by published by Coherent Market Insights. Recommendations from the American Heart Association and American Stroke Association to use neurointerventional devices in stroke is a major factor boosting market growth.
Increasing demand for minimally invasive procedures is one of the prime factors driving adoption of neurointerventional devices worldwide. The American Heart Association and American Stroke Association recommends use of neurointerventional devices in treating stroke, due to which there has been an augmented demand for these devices in the recent past. In order to capitalize on this highly lucrative growth opportunity, a range of new products such as Solitaire stent retriever, EmboTrap stent retriever, and Penumbra 3D Revascularization Device have been launched in the recent past.
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Developed economies such as the U.S., Canada, U.K., Australia, Japan, and Germany are witnessing rapid shift from conventional surgical methods to minimally invasive therapies. Moreover, there is a shift towards adopting detachable and bare platinum coils as against the highly priced coated coils. According to the Brain Aneurysm Foundation, around six million people in the U.S. i.e. one in 50 people suffer from brain aneurysm every year. High incidence rate of stroke and aneurysm is expected to continue strengthening demand for neurointerventional devices in the U.S. market.
The global Interventional neurology market is witnessing strategic agreements among leading players focusing on diversifying their product portfolio and increasing their market presence.
• In 2016, Codman & Shurtleff, Inc. inked an exclusive distribution agreement with InNeuroCo, Inc. for its intermediate catheter and super distal access device in the U.S. and European markets
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• In 2015, Medtronic PLC acquired Lazarus Effect, a California-based medical device company engaged in development of acute ischemic stroke products for around US$ 100 million. Lazarus Effect was acquired with an aim to enhance Medtronic's neurovascular business and related portfolio.
Advent of innovative solutions that enhance the outcomes of surgeries are fueling demand for neurointerventional devices
• Medical University of South Carolina (MUSC) is investigating the safety and success rate of ADAPT - direct-aspiration first pass technique that removes the clot in a single-pass
• FDA expanded the approval of Solitaire stent retriever device of Medtronic PLC for reduction of stroke-related disability. This device can now be used in patients with large vessel occlusion, proximal anterior circulation, and smaller core infarcts to reduce paralysis, and other stroke-related disabilities.
• CE approved EmboTrap stent retriever platform, the EmboTrap II Revascularization Device from Neuravi Ltd. This new device enables removal of clots of different lengths with ease.
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