The Global Neurovascular Devices Market report offers a comprehensive analysis of the Neurovascular Devices market with regards to the current and emerging trends, regional outlook, competitive landscape, and forecast estimation for revenue and market share. The report is an all-inclusive document providing important details focusing on growth statistics, estimation of revenue shares and growth, market valuation, and also emphasizes the competitive landscape, business opportunities, and strategic alliances and approaches undertaken by the dominant industry players.
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.
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The report also offers key insights about top companies in the market along with a thorough SWOT analysis, Porter’s Five Forces analysis, and feasibility analysis to offer competitive edge to the readers. The report focuses on the recent trends, major challenges and opportunities, and limitations pertaining to the ongoing pandemic.
The report aims to provide a determining analysis of the market competition to help the user make a pivotal business analysis. The complete portfolios of the key companies, including their production capacity, revenue share and size, gross margin, sales revenue and margin, growth rate, along with their business strategies and technological developments, have been discussed in the report. The companies operating in the market and profiled in the report include The report also discusses the key players involved in the market such as 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
Key Features of the Neurovascular Devices Market Report:
- The report offers details about key drivers, restraints, opportunities, challenges, growth prospects, limitations, and threats
- The report encompasses details about the key companies, product portfolio along with specifications, production valuation, and market shares
- Evaluation of key current and emerging market trends and growth prospects
- It also offers research-backed estimations for the forecast period of eight years, primarily to estimate the potential market growth
- Brief overview of industry with regards to research and development, technological advancements, and product development
- In-depth assessment of upstream raw materials, downstream buyers, demands, and current market scenario
Regional Landscape section of the Neurovascular Devices report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.
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)
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Neurovascular Devices Market Segmentation:
The report bifurcates the Neurovascular Devices market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
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Device Type Outlook (Revenue, USD Billion; 2019-2032)
- Cerebral Embolization and Aneurysm Coiling Devices
- Neurothrombectomy Devices
- Cerebral Angioplasty and Stenting Systems
- Support Devices
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Application Outlook (Revenue, USD Billion; 2019-2032)
- Cerebral Artery Stenosis
- Stroke
- Ischemic Stroke
- Arteriovenous Malformations
- Others
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End-use Outlook (Revenue, USD Billion; 2019-2032)
- Hospitals
- Specialty Clinics
- Others
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ToC of the report:
Chapter 1: Market overview and scope
Chapter 2: Market outlook
Chapter 3: Impact analysis of COVID-19 pandemic
Chapter 4: Competitive Landscape
Chapter 5: Drivers, Constraints, Opportunities, Limitations
Chapter 6: Key manufacturers of the industry
Chapter 7: Regional analysis
Chapter 8: Market segmentation based on type applications
Chapter 9: Current and Future Trends
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