Market Research Future (MRFR) has published
a research report about the global neurovascular
devices market size to touch over USD 4.2 Billion by 2030. MRFR also
anticipates the global market’s growth to be at a rate of 5.7% during the
review period 2022 to 2030. This report talks about the market scenario and
future prospects regarding growth. In this report, the global neurovascular
devices market has been segmented on the basis of end-user, product,
therapeutic application, and lastly region.
Problems related to the nervous system are
serious. They cannot be seen easily, and their therapies usually lie in
surgeries where patients and doctors need to decide which surgeries are more
invasive and which are less invasive. Neurovascular devices are necessary for
treating neurovascular diseases. These devices have been developed due to
demand for minimally invasive procedures. There has never been a dearth of
neurovascular patients. Therefore, the global neurovascular devices market has
huge scope for growth. Factors contributing to the growth of this market
include favorable reimbursement policies, and ongoing product development &
commercialization.
On the basis of the end-users, this market
has been segmented into ambulatory surgical units and hospitals & clinics.
Ambulatory surgical units work for ambulatory surgery centers (ASC) that are
also known as outpatient surgery centers, same-day surgery centers, or
surgicenters. Ambulatory surgical units perform surgical procedures not
requiring an overnight hospital stay. Such surgery is commonly less complicated
than those required hospitalization.
Key Players
The key players in the global neurovascular
devices market include Abbott Laboratories (USA), Blockade Medical LLC.
(France), Delaware Corporation (USA), Evasc (Canada), Gynesonics (USA),
Johnson & Johnson Services, Inc. (the USA), Medikit Co., Ltd. (Japan),
Medtronic (USA), Merit Medical Systems Inc. (USA), MicroPort Scientific
Corporation (China), Neuravi (Israel), OxfordEndovascular (UK), Penumbra, Inc.
(USA), Rapid Medical (Israel), Sensome (France), Secant Group LLC (USA),
Stryker (USA), Terumo Corporation (Japan), and W. L. Gore & Associates,
Inc. (USA).
Segmentation:
The product-based segmentation segments the
Neurovascular
Devicesmarket insights into aneurysm coiling & embolization
devices, cerebral balloon angioplasty & stenting systems, neurovascular catheters, neuro thrombectomy devices,
and a support device. The aneurysm coiling & embolization devices segment
has been sub-segmented into embolic coils, flow diversion devices, and liquid
embolic. Embolic coils block blood flow into an aneurysm (weak area of an
artery). The embolic protection systems have been segmented into balloon
occlusion devices and distal filter devices. Cerebral angioplasty is a
procedure useful for opening the partially blocked carotid and vertebral
arteries in the neck. They can also do the same for blood vessels within the
brain. It has been segmented into is sub-segmented into carotid artery stents
and embolic protection systems. Stenting system indicates an improvement of
coronary luminal diameter in patients with symptomatic ischemic heart disease.
Neurothrombectomy devices are used for treating acute ischemic strokes. They
have been sub-segmented into aspiration devices, retrieval systems, and suction
devices. Based on therapeutic application, the market has been segmented into
the hemorrhagic stroke and ischemic strokes. A hemorrhagic stroke can be
defined as either a brain aneurysm burst or a weakened blood vessel leak. The
different types of ischemic strokes occur when the body is deprived of oxygen
or any other important nutrients.
The regional segmentation of the global
neurovascular devices market comprises of The Americas (North America &
South America), Europe, Asia Pacific, and Middle East & Africa (MEA)
region. The Americas dominate the global neurovascular devices market due to a
large number of patients suffering from neurovascular diseases like
arteriovenous malformations (AVMs) and brain aneurysm. Due to technological
advancement, high disposable income, and the availability of better medical
facilities, North America is the bigger market than South America. Moreover,
increasing healthcare expenditure, government aid to researches in the field of
medical sciences and the presence of the key players in North America boosts
the growth of the market in North America. Majority key players in this region
are based in the United States of America (USA).
Europe holds the second largest share in
global neurovascular devices market. Increasing prevalence of the neurovascular
diseases and the presence of a well-developed healthcare sector are the major
factors that drive the market growth in this region. Due to reasons same as The
Americas, Western Europe market is bigger than Eastern Europe. In Europe, most
of the key players in this market are based in France and the United Kingdom
(UK).
The Asia Pacific region is the fastest
growing market for the market due to continuously developing economies like
China and India, increasing demands for minimally invasive surgeries by the
growing geriatric population, and the presence of a huge patient population.
Asia Pacific region is yet to achieve the infrastructure development and
technological advancement as par the level of North America and Europe, and
there are few countries in this region that are technologically advanced. In
the Asia Pacific region, the biggest markets are Australia, China, India,
Japan, and South Korea, followed by the rest of Asia Pacific. MEA region is a
small market due to political instability in most countries due to movements
like Arab Spring. Lack of technology and less investment in healthcare due to
healthcare not being considered a priority by governments in this region are
the reasons for a small market. The biggest markets in this region are Kuwait,
Oman, Saudi Arabia, Qatar, and United Arab Emirates (UAE), followed by rest of
MEA region.
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