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Global Neurovascular Devices Industry is Expecting Major Makeover in Near Future

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Makarand Vaidya

Major Objectives Behind This Study Are:

To define, describe, and forecast the global neurovascular devices market on the basis of product, disease pathology, and region.
To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the neurovascular devices/interventional neurology devices market

The neurovascular devices market is expected to reach USD 2.62 billion by 2021 from USD 1.74 billion in 2016, at a CAGR of 8.6% from 2016 to 2021.

Major factors driving the growth of this market include growing target patient population, ongoing product development & commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and growing market demand for effective neurovascular devices. 

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Moreover, increasing number of researches in the field of neurovascular therapies, rising demand for minimally invasive neurosurgical procedures, and increasing awareness among neurosurgeons about minimally invasive surgical procedures provide significant growth opportunities in the market. However, stringent regulatory scenario and dearth of skilled neurosurgeons may hinder the growth of this market during the forecast period.

Critical questions the report answers:

What are the emerging technologies for interventional neurology treatment ecosystem? What is their growth potential during next decade?

What are the key revenue generating pockets for major neurovascular devices market; and their future potential during next decade?

How competitive landscape is evolving in minimally invasive/interventional neurology devices industry?

On the basis of disease pathology, the market is segmented into ischemic strokes, cerebral aneurysm, arteriovenous malformations & fistulas, and other diseases. The ischemic strokes segment is poised to be the fastest growing segment during the forecast period owing to growing incidence of ischemic stroke (coupled with exposure of larger proportion of global population to major risk factors such as smoking and diabetes), and increasing patient preference for minimally invasive therapeutic alternatives. 

Target Audience:

Original Equipment Manufacturers (OEMs)
Product Sales and Distribution Companies
Healthcare Service Providers (Hospitals and Surgical Centers)
Non-government Organizations
Government Regulatory Authorities
Research Laboratories and Academic Institutes
Clinical Research Organizations (CROs)
Research and Development Companies
Market Research and Consulting Firms

On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is the fastest-growing geographic segment in the neurovascular devices/interventional neurology market. The large market growth of this geographic segment can be attributed to the presence of a large patient population base for target diseases, rising awareness among neurosurgeons related to the benefits offered by interventional neurology devices, and ongoing government initiatives to modernize & expand healthcare infrastructure. 

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The key players in the neurovascular devices/interventional neurology market focused on various strategies such as product launches & enhancements; agreements and collaborations; strategic acquisitions; and expansions to increase market shares in the global market. 

Product launches & enhancements were the key strategies adopted by major industry players to achieve the desired market growth during 2013-2016. 

This strategy was mainly adopted by Stryker Corporation (U.S.), Medtronic plc (U.S.), Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc. (U.S.), Abbott Laboratories (U.S.), Merit Medical Systems, Inc. (U.S.), W. L. Gore & Associates, Inc. (U.S.), and MicroPort Scientific Corporation (China).

Apart from product launches & enhancements, many prominent players also adopted agreements & collaborations as the key growth strategy to strengthen market presence, enhance R&D capabilities, and to expand distribution networks to generate additional demand by sensitizing end users through an increase in availability of neurovascular products 

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