Neurovascular Devices Market Size: Key Player and Analysis Report, In-Depth Study, Future Growth, Share, New Investments
The global neurovascular devices market size was USD 2.84 Billion in 2022 and is expected to register a steady revenue CAGR of 6.0% during the forecast period, according to latest analysis by Emergen Research. The neurovascular devices market is witnessing significant growth and innovation as it plays a crucial role in the diagnosis and treatment of various neurological conditions affecting the blood vessels of the brain and spinal cord. Neurovascular devices are used in procedures such as embolization, angioplasty, and stenting to address conditions like aneurysms, arteriovenous malformations (AVMs), and ischemic strokes. The global neurovascular devices market is being driven by factors such as the increasing prevalence of neurological disorders, advancements in technology, growing aging population, and rising demand for minimally invasive procedures.
One of the primary drivers behind the growth of the neurovascular devices market is the rising prevalence of neurological disorders worldwide. According to the World Health Organization (WHO), neurological disorders affect millions of people globally, with conditions such as strokes, aneurysms, and AVMs contributing significantly to the disease burden. The increasing awareness about these conditions, along with improved access to healthcare services, has led to higher diagnosis rates and subsequent demand for neurovascular devices. Additionally, technological advancements in imaging techniques and treatment modalities have facilitated early detection and precise interventions, further driving market growth.
Technological advancements and innovations in neurovascular devices have revolutionized the field, contributing to market growth. For instance, the development of advanced imaging techniques, such as digital subtraction angiography (DSA), magnetic resonance imaging (MRI), and computed tomography (CT), has enhanced the diagnosis and treatment planning for neurovascular conditions. Additionally, the introduction of minimally invasive procedures, including endovascular coiling and stenting, has significantly reduced the risks associated with traditional open surgeries and improved patient outcomes. The continuous evolution of neurovascular devices, including the use of bioresorbable materials and drug-eluting stents, further augments the market growth potential.
While the neurovascular devices market offers promising growth prospects, it also faces certain restraints. One of the key challenges is the high cost associated with these devices and procedures. The advanced technology and materials used in neurovascular devices contribute to their higher price points, limiting their accessibility in some regions, especially in developing economies. Moreover, the stringent regulatory requirements and approval processes for these devices pose challenges for market players, hindering the introduction of new products and innovations. Addressing these cost-related issues and streamlining regulatory procedures will be essential to ensure the market's sustained growth.
Several growth factors are expected to propel the neurovascular devices market in the coming years. Firstly, the increasing geriatric population, particularly in developed regions, is driving the demand for neurovascular devices. Aging is a significant risk factor for neurological disorders, and as the population ages, the prevalence of conditions such as strokes and aneurysms is likely to rise. Additionally, the growing preference for minimally invasive procedures among patients and healthcare professionals boosts the adoption of neurovascular devices. These procedures offer several advantages, including reduced hospital stays, faster recovery times, and fewer complications, leading to increased patient satisfaction.
To provide statistical insights, the Centers for Disease Control and Prevention (CDC) reported that strokes are a leading cause of death and disability globally, affecting around 800,000 people in the United States each year. Furthermore, the American Heart Association estimated that approximately 6 million people in the United States are living with an unruptured brain aneurysm. These statistics highlight the significant patient population requiring neurovascular interventions and the market potential for neurovascular devices.
The global Neurovascular Devices Market report published by Emergen Research assesses the Neurovascular Devices market with regards to market size, market share, revenue growth, key segments, and regional bifurcation. The global Neurovascular Devices market is highly fragmented with numerous players operating on a global and regional level. The companies are engaged in mergers and acquisitions, joint ventures, and collaborations along with product advancements and R&D activities to cater to the growing global demand and gain a robust footing in the market.
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Competitive Terrain:
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Neurovascular Devices market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
The leading market contenders listed in the report are:
Stryker, Medtronic, Johnson and Johnson Services Inc., Microvention Inc., W. L. Gore & Associates, Inc., Merit Medical Systems., Penumbra, Inc., Lumenis Be Ltd., Acandis GmbH, and Codman Neurosurgery
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Emergen Research has segmented the global Neurovascular Devices market on the basis of type, application, end-use, and region:
Segments Covered in this report are:
Device Type Outlook (Revenue, USD Billion; 2019-2032) Cerebral Embolization and Aneurysm Coiling Devices Neurothrombectomy Devices Cerebral Angioplasty and Stenting Systems Support Devices Application Outlook (Revenue, USD Billion; 2019-2032) Cerebral Artery Stenosis Stroke Ischemic Stroke Arteriovenous Malformations Others End-use Outlook (Revenue, USD Billion; 2019-2032) Hospitals Specialty Clinics Others The various regions analyzed in the report include:
North America (U.S., Canada) Europe (U.K., Italy, Germany, France, Rest of EU) Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC) Latin America (Chile, Brazil, Argentina, Rest of Latin America) Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA) Key Objectives of the Report:
Analysis and estimation of the Neurovascular Devices Market size and share for the projected period of 2022-2030 Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Neurovascular Devices Market Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities Request Customization as per your specific requirement@ https://www.emergenresearch.com/request-for-customization/1932
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