Market Overview –
By 2030, Market Research Future (MRFR) projects that the size of the neurovascular devices market would exceed USD 4.2 billion. Additionally, MRFR projects that the global market would increase at a 5.7% annual rate between 2022 and 2030.
The neurovascular devices market encompasses medical devices used in the treatment of conditions affecting blood vessels in the brain and spinal cord. These devices are essential for the management of neurovascular disorders such as stroke, aneurysms, arteriovenous malformations (AVMs), and other vascular abnormalities. The market for neurovascular devices is driven by factors such as the increasing incidence of neurovascular diseases, advancements in technology, and growing awareness about the importance of early intervention.
One of the primary drivers of the neurovascular devices market is the rising prevalence of stroke and other neurovascular disorders globally. Factors such as aging populations, sedentary lifestyles, hypertension, and diabetes contribute to the growing burden of these conditions, driving demand for effective treatment options.
Technological advancements in neurovascular devices have revolutionized the management of neurovascular diseases, enabling minimally invasive procedures with improved safety and efficacy. Devices such as stents, embolic coils, flow diverters, thrombectomy devices, and neurovascular balloons are commonly used in the treatment of neurovascular conditions, offering patients alternatives to traditional open surgery.
Moreover, increasing investments in research and development by medical device companies have led to the development of innovative neurovascular devices with enhanced features and improved patient outcomes. These advancements include biodegradable stents, drug-eluting devices, and navigational systems that provide real-time imaging during procedures, enabling precise treatment delivery.
However, challenges in the neurovascular devices market include stringent regulatory requirements, reimbursement limitations, and the high cost of advanced devices. Additionally, disparities in access to neurovascular care, particularly in low- and middle-income countries, pose challenges for market growth.
The Neurovascular Devices Market is growing due to increasing demand for advanced treatment options for neurological conditions. Neurovascular catheters play a crucial role in minimally invasive procedures, such as thrombectomy and angioplasty, for treating stroke and other cerebrovascular diseases. The market offers a range of devices and technologies to support neurovascular interventions, improving patient outcomes and reducing complications.
Overall, the neurovascular devices market is expected to witness significant growth in the coming years, driven by technological innovations, increasing prevalence of neurovascular diseases, and growing demand for minimally invasive treatment options that offer better outcomes and improved quality of life for patients
Segmentation –
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.
The product based segmentation segments the market into aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, 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.
Regional Analysis –
Regional analysis of the neurovascular devices market highlights distinct trends and opportunities across different regions globally. In North America, particularly in the United States, the market thrives due to factors such as a high prevalence of neurovascular diseases, advanced healthcare infrastructure, and significant investments in research and development.
The region witnesses a strong demand for neurovascular devices driven by an aging population and increasing adoption of minimally invasive procedures for stroke treatment and aneurysm repair. Europe showcases a mature neurovascular devices market, with countries like Germany, the UK, and France leading in terms of market size and technological advancements. The region benefits from favorable reimbursement policies and a growing focus on early detection and intervention of neurovascular disorders.
In the Asia-Pacific region, rapid urbanization, improving healthcare infrastructure, and rising healthcare expenditure contribute to the growth of the neurovascular devices market. Countries like China, India, and Japan witness increasing adoption of advanced neurovascular technologies to address the rising burden of stroke and other neurological conditions. Latin America exhibits significant growth potential in the neurovascular devices market, fueled by increasing awareness of neurovascular diseases and expanding access to healthcare services. The Middle East and Africa region also experience a gradual but steady uptake of neurovascular devices, driven by improving healthcare facilities and rising investments in stroke care and management.
Understanding these regional dynamics is crucial for stakeholders in the neurovascular devices market to develop targeted strategies, ensure market accessibility, and address the specific needs of diverse populations, ultimately improving patient outcomes and quality of care worldwide
Key Players –
The Neurovascular Devices Market Report key companies such as Stryker, Medtronic, Johnson & Johnson Services Inc., TERUMO CORPORATION, Abbott, Merit Medical Systems Inc., Medikit Co. Ltd., Penumbra Inc., MicroPort Scientific Corporation, Evasc, Rapid Medical, Neuravi, L. Gore & Associates Inc., OxfordEndovascular, Sensome, Blockade Medical LLC., Delaware Corporation, Secant Group LLC, and Gynesonics.
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