According to Market Research Future (MRFR), the global interventional neurology market is projected to grow significantly over the forecast period. The market held a valuation of USD 1832.6 million in 2017 and expected to rise from 2017 to 2023 (forecast period) at a CAGR of 7.8%.
Interventional neurology can be described as a specialty for the treatment of major diseases of the brain, spine, and neck through minimally invasive image-guided techniques. Major diseases treated with interventional neurologists include cerebral aneurysm, meningiomas, head and neck tumors, ischemic strokes, intracranial atherosclerosis, spinal vascular malformations, and vertebral body tumors.
Market Dynamics
Increasing prevalence of neurological diseases is one of the primary factors driving the market for interventional neurology. Of the 1.2 million most commonly diagnosed adult-onset brain conditions, 21% and 51.3% are due to Alzheimer's disease and stroke, respectively. Several other factors, such as technological advancements, the existence of a large target patient population, favorable medical reimbursements, and increasing demand for effective neurovascular devices, are also expected to drive the growth of the market.
However, the lack of trained neurosurgeons and strict regulations may hinder the growth of the market over the forecast period.
Segmentation
The global interventional neurology market size is segmented on disease pathology, product, end-user, and region.
By disease pathology, the market is segmented into arteriovenous malformation and fistulas, cerebral aneurysms, ischemic strokes, and others.
By product, the market is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty and stenting systems, support devices, and neurothrombectomy devices. The segment for aneurysm coiling & embolization devices is further categorized as embolic coils, liquid embolic agents, and flow diversion devices. The segment for embolic coils includes coated detachable coils and bare detachable coils. The segment for cerebral balloon angioplasty and stenting systems are further categorized as carotid artery stents and embolic protection systems. The segment for embolic protection systems includes distal filter devices and balloon occlusion devices. The neurothrombectomy devices are further categorized as clot retrieval devices, suction and aspiration devices, and snares. The segment for support devices is further classified as microcatheters and microguidewires.
Based on the end-user, the market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others.
Region-wise, the global interventional neurology market size is segmented into the four global regions, namely the Americas, Europe, the Asia Pacific, and the Middle East & African region.
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The Americas dominated the interventional neurology global market due to the involvement of major market players and the increasing geriatric population.
It was estimated that Europe was second in the global interventional neurology market in 2017. This can be due to growing investment in research and development. Increased participation of industry participants is also improving the interventional neurology industry. In 2018, for example, Rapid Medical announced the approval in the European Union of the CE Mark for its Tigertriever 13 stent retriever to treat ischemic stroke.
The Asia Pacific was also anticipated to be the fastest-growing region in 2017. Factors such as the rising healthcare sector, the growing penetration of market players in the region, and the increase in healthcare expenditure are driving regional markets in the Asia Pacific region. According to data presented by the Australian Institute of Health and Welfare in 2017, almost USD 181 billion is spent on health in Australia.
The Middle East and Africa had the lowest share in the global interventional neurology market size due to the low per capita income, particularly in the African region. Development in this area is due to increasing cases of neurological conditions. Over the years, the burden of neurological disorders in the African region has increased. The annual incidence of stroke has been projected to be 316 per 100 000 in Africa.
Key Players
Some of the major participants in the global interventional neurology market are Boston Scientific Corporation, Abbott Laboratories, Johnson & Johnson, Stryker Corporation, Medtronic PLC, Merit Medical Systems, Terumo Corporation, Penumbra, Inc., Micropart Scientific Corporation, B. Braun Melungeon AG, Inc., W.L. Gore & Associates, Inc., Cook Medical, and others.
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Market HighlightsThe Global interventional neurology market is expected to grow at an approximate CAGR of 7.8% during forecast period, 2018–2023.Increasing participation of market players is the key factor driving the interventional neurology market.
For instance, in 2018, Rapid Medical announced CE Mark approval in the European Union for its Tigertriever 13 stent retriever for the treatment of ischemic stroke.Various other factors such as technological advancements, presence of a large target patient population, favourable medical reimbursements and growing demand for effective neurovascular devices are also expected to propel the growth of the market.However, lack of skilled neurosurgeons and stringent regulations can hinder the market growth over the forecast period.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/7211Regional AnalysisThe Americas dominated the global market for interventional neurology owing to presence of major market players and rising geriatric population.In 2017, it was estimated that Europe stood second in the global interventional neurology market.
Factors such as growing healthcare sector, increasing penetration of the market players within the region, and increasing healthcare expenditure drives the regional markets of the Asia Pacific region.On the other hand, the Middle East and Africa held least share in the global interventional neurology market due to the low per capita income, especially within the African region.
The burden of neurological disorders in African region has been increasing over the years.
The annual incidence of stroke has been estimated to be 316 per 100 000 in Africa.SegmentationThe Global interventional neurology market is segmented based on disease pathology, product, end user and region.The Global market for interventional neurology, by disease pathology is segmented into cerebral aneurysms, arteriovenous malformation and fistulas, ischemic strokes, and others.The market, by product, is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty and stenting systems, neurothrombectomy devices, and support devices.The aneurysm coiling & embolization devices segment is further classified as embolic coils, flow diversion devices, and liquid embolic agents.
The cerebral balloon angioplasty and stenting systems segment is further classified as carotid artery stents, and embolic protection systems.
Interventional Neurology Market Research Report: By Disease Pathology (Cerebral Aneurysms, Ischemic Strokes, & Others), Product (Aneurysm Coiling & Embolization, Neurothrombectomy, Support Devices, & Others), End User – Global Forecast Till 2027Market HighlightsThe Global interventional neurology market is expected to grow at an approximate CAGR of 7.8% during forecast period, 2018–2023.Increasing participation of market players is the key factor driving the interventional neurology market.
For instance, in 2018, Rapid Medical announced CE Mark approval in the European Union for its Tigertriever 13 stent retriever for the treatment of ischemic stroke.Various other factors such as technological advancements, presence of a large target patient population, favourable medical reimbursements and growing demand for effective neurovascular devices are also expected to propel the growth of the market.However, lack of skilled neurosurgeons and stringent regulations can hinder the market growth over the forecast period.Request Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/7211SegmentationThe Global interventional neurology market is segmented based on disease pathology, product, end user and region.The Global market for interventional neurology, by disease pathology is segmented into cerebral aneurysms, arteriovenous malformation and fistulas, ischemic strokes, and others.The market, by product, is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty and stenting systems, neurothrombectomy devices, and support devices.
The cerebral balloon angioplasty and stenting systems segment is further classified as carotid artery stents, and embolic protection systems.
The neurothrombectomy devices are further classified as clot retrieval devices, suction and aspiration devices, and snares.
The support devices are further classified as microcatheters, and microguidewires.Based on end user, the market is segmented into hospitals & clinics, ambulatory surgical centers, research & academic institutes, and others.Browse Detailed TOC with COVID-19 Impact Analysis at: https://www.marketresearchfuture.com/reports/interventional-neurology-market-7211 Regional AnalysisThe Americas dominated the global market for interventional neurology owing to presence of major market players and rising geriatric population.In 2017, it was estimated that Europe stood second in the global interventional neurology market.
Factors such as growing healthcare sector, increasing penetration of the market players within the region, and increasing healthcare expenditure drives the regional markets of the Asia Pacific region.On the other hand, the Middle East and Africa held least share in the global interventional neurology market due to the low per capita income, especially within the African region.
