Neurovascular Devices/Interventional Neurology Market Overview
The Neurovascular Devices/Interventional Neurology Market size is estimated to reach $3.4 Bn by 2025, growing at a CAGR of 9.1% during the forecast period 2020-2025. Neurovascular/interventional neurology devices are used to treat several neurovascular diseases including aneurysms, arteriovenous malformations, atherosclerosis, and moyamoya diseases that affect the Blood Vascular system as well as the Central Nervous system associated with it. Factors such as favorable medical reimbursements large target patient population base, ongoing product development & commercialization, and expansion of healthcare infrastructure is driving the growth of Neurovascular Devices/Interventional Neurology Market during the forecast period 2020-2025.
Geographically, North America held largest market share in the Neurovascular Devices/Interventional Neurology Market in 2019. This is owing to the increasing number of clinical trial and large patient population for target diseases.
The factors such as the increasing number of research activities in the field of neurovascular therapies and rising demand for minimally invasive neurosurgical procedures are set to offer renewed growth opportunities for the market players during the forecast period 2020-2025.
Detailed analysis on the Strength, Weakness and Opportunities of the prominent players operating in the market will be provided in the Neurovascular Devices/Interventional Neurology Market report.
Neurovascular Devices/Interventional Neurology Market Segment Analysis – By Product Type
Based on Product Type, Neurovascular Devices/Interventional Neurology Market is segmented into Cerebral Balloon Angioplasty and Stenting Systems, Aneurysm Coiling & Embolization Devices, Support devices and Neurothrombectomy Devices. Aneurysm Coiling & Embolization Devices hold the major share in the market in 2019. This is Owing to the growing End User performance for neurosurgical procedures and increasing market and availability of embolic coils for neurovascular treatment. Moreover Rising demand for minimally invasive neurosurgical procedures is driving the Aneurysm Coiling & Embolization Devices and is set to be the fastest growing with a CAGR of 9.95% during the forecast period 2020-2025.
Neurovascular Devices/Interventional Neurology Market Segment Analysis – By Disease
Based on Disease Type, Neurovascular Devices/Interventional Neurology Market is segmented into Arteriovenous Malformation and Fistulas, Ischemic Strokes, Cerebral Aneurysms, and Other Disease Pathologies. The Ischemic Strokes segment is set to be the fastest-growing CAGR during the forecast period 2020-2025 this is owing to improved minimally invasive procedures demand, and expansion in health care.
Neurovascular Devices/Interventional Neurology Market Segment Analysis – By Geography
Based on Geography the Neurovascular Devices/Interventional Neurology Market is segmented into North America, Europe, Asia-Pacific and Rest of the World. North America had a largest share in terms of revenue in 2019 with a share of 40.7%. This is owing to high adoption rate of neurovascular devices and presence of major key manufacturers in this region. Asia Pacific is set to be the fastest-growing market during the forecast period 2020-2025. This is owing to increasing healthcare expenditure on healthcare domain and increasing manufacturers in this region
Neurovascular Devices/Interventional Neurology Market Drivers
Rising popularity of neurovascular diseases:
The brain consumes one fifth of body’s energy and nutrients the cerebrovascular system plays a key role in supporting the brain by providing oxygen and nutrients to the brain. Any abnormalities occurring in the cerebral microvasculature is set to affect the integrity of brain functioning. This relationship is best appreciated based on the concept of the neurovascular unit (NVU), which comprises multiple cell types, including neurons, vascular smooth muscle cells, endothelial cells, astrocytes, microglia, and pericytes. With increasing such incidence of Neurovascular diseases, the Neurovascular Devices/ Interventional Neurology Market is set to drive the demand during the forecast period 2020-2025.
Neurovascular Devices/Interventional Neurology Market Challenges
Challenges such as Ethical decision making, Risk of moral injury and treatment priority settings, as well as medico-legal risks, and financial uncertainties.
Neurovascular Devices/Interventional Neurology Market Industry outlook:
Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Neurovascular Devices/Interventional Neurology Market. Key companies of this market are W.L. Gore & Associates, Inc, Abbott Laboratories, Stryker Corporation, Medtronic PLC, Terumo Corporation, Johnson & Johnson, Penumbra, Inc, Boston Scientific Corporation, Merit Medical Systems, Inc, and Microport Scientific Corporation among others.
Neurovascular Devices/Interventional Neurology Market Developments:
In January 2017, Abbott Laboratories has acquired St. Jude Medical The transaction provides Abbott with expanded opportunities for future growth and is an important part of the company’s ongoing effort to develop a strong, diverse portfolio of Neurovascular devices, diagnostics, nutritionals and branded generic pharmaceuticals.