Neurovascular Devices Market Is Expected To Reach US$ 3,257.1 Mn By 2026 | Credence Research

Posted December 30, 2019 by johnsonpaul

The global market for neurovascular devices was valued at US$ 1,863.0 million in 2017 and is expected to reach US$ 3,257.1 million by 2026 for a CAGR of 6.1 per cent between 2018 and 2026.

The latest market report published by Credence Research, Inc. “Neurovascular Devices Market: Growth, Future Prospects, and Competitive Analysis, 2018 - 2026” the global market for neurovascular devices was valued at US$ 1,863.0 million in 2017 and is expected to reach US$ 3,257.1 million by 2026 for a CAGR of 6.1 percent between 2018 and 2026.

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Market Insights

The global market for neurovascular devices has shown productive growth over the forecast period from 2018 to 2026. Neurovascular devices (e.g. embolic coils, neurothrombectomy devices, balloon occlusion devices, clot retrievers, flow diversion devices, etc.) support the treatment of numerous neurovascular disorders such as cerebral aneurysms, cerebral artery stenosis, intracranial atherosclerotic disease, and stroke. Growing medical tourism, increasing the elderly population, the advancement of high-quality medical devices, the evolution of minimally invasive surgeries and new techniques are few external factors driving the global market. Stroke holds a major market share in the field of neurovascular devices in 2018.

The incidence of movement disabilities is increasing due to the upsurge in neurovascular diseases such as arteriovenous malformations and brain aneurysm, mainly in the elderly population. Commercialization and development of embolization and coiling techniques, the advancement of carotid artery angioplasty and stenting, technology support and neurothrombectomy will further boost revenue growth during the forecast period. High device costs, lack of healthcare professionals, less awareness of advanced products in developing countries and an unstructured reimbursement scenario will reduce market growth during the forecast period. The market in North America and Europe is experiencing steady growth due to the presence of multi-specialty hospitals, rehabilitation centers and the availability of trained professionals. In addition, the significant adoption of interventional neurologic devices among neurologists and the massive presence of neurovascular device manufacturers in the U.S. will drive growth globally.

Key Market Movements:

Globally, the neurovascular devices market remains to exhibit a lucrative growth with a CAGR of 6.1% for the period from 2018 to 2026
Based on the type, the aneurysm coiling & embolization devices segment shows lucrative growth with increasing applications in the end-user industry
The growing number of hospitals, availability of branded devices with improved applications, and growing healthcare spending in the developing nations will further assist the overall growth of the neurovascular devices to market globally
Major players in this vertical are Penumbra, Inc. Phenox GmbH, Stryker, Abbott Laboratories, Terumo Corporation, Merit Medical Systems, Inc., W. L. Gore & Associates, Inc., Johnson & Johnson, MicroPort Scientific Corporation, Delaware Corporation, Rapid Medical, Medtronic plc, and others

You can get the sample copy of this research by Credence Research here:

Key research study highlights comprise:

Exhaustive research and analysis of the global neurovascular devices industry
The key market segments along have been explained in the report thoroughly along with their existing and estimated market size
Major elements of market dynamics such as drivers, challenges and opportunities and their effect on neurovascular devices market are also covered in the report
Key players operating in the market are profiled and accompanied by the competitive landscape evaluated on the basis of product offering & business strength
Cross-sectional analysis of each region covering individual segments for the forecast period 2018 - 2016 in terms of value (US$Mn)

The participants tracked for primary interviews include:

Marketing/product managers
Vice President/ CEOs
National sales managers
Market intelligence managers
Purchasing managers
Other stakeholders
Market Segmentation

By Type

Aneurysm Coiling & Embolization Devices
Cerebral Balloon Angioplasty & Stenting Systems
Neurothrombectomy Devices
Support Devices

By Indication Segment

Cerebral Artery Stenosis
Cerebral Aneurysm

By End-user Segment

Ambulatory Surgical Centers

By Geography Segment

North America (the U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India, Rest of Asia Pacific)
Rest of the World (the Middle East & Africa, Latin America)

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Last Updated December 30, 2019