The U.S. Neurovascular Devices Market was pegged at $946.15 million in 2019, and is expected to garner $1.07 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027. The report provides an all-inclusive analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and wavering market trends.
Rise in prevalence of neurovascular diseases, increase in geriatric population across the U.S., technological advancements associated with neurovascular devices, and surge in incidence of underlying disease conditions drive the growth of the U.S. Neurovascular Devices market. On the other hand, higher prices of neurovascular devices restrain the market growth. However, increase in demand for minimally invasive procedures in U.S. offers novel opportunities to the market players in the coming years.
Covid-19 Scenario
- Limited availability of medical care for situation other than covid-19 and healthcare staff in the country during the initial phase of covid-19 has interrupted the growth of the neurovascular market.
- The nationwide lockdown and government regulations, and continuous rise in infection rate in the country created a widespread financial impact on the neurology hospitals and clinics.
- A variety of hospitals and clinics have witnessed a decline in number of patient visits during COVID-19, thereby decreasing client contacts. Furthermore, many neurovascular treatments have been delayed due to the Covid-19 crisis.
The U.S. neurovascular devices market is segmented on the basis of product and disease pathology. Based on product, the market is divided into embolization devices, revascularization devices, thrombectomy devices, embolic protection devices, and accessory devices. The embolization devices segment contributed to more than two-fifths of the U.S. neurovascular devices market in 2019, and is estimated to maintain its lead position during the forecast period. On the other hand, the revascularization devices segment is anticipated to register the highest CAGR of 5.4% from 2020 to 2027.
Based on disease pathology, the he market is classified into aneurysm, arteriovenous malformation, ischemic stroke, stenosis, and others. The aneurysm segment accounted for nearly half of the U.S. Neurovascular Devices market in 2019, and is expected to maintain its leadership status in terms of revenue throughout the forecast period. Nevertheless, the ischemic stroke segment is estimated to manifest the fastest CAGR of 5.9% from 2020 to 2027.
The leading market players in the report include B. Braun Melsungen AG, Integer Holdings Corporation, Johnson & Johnson (Cerenovus), Medtronic Plc., Merit Medical Systems, Inc., Microport Scientific Corporation, Penumbra, Inc., SAES Getters SpA (Memry Corporation), Stryker Corporation, Terumo Corporation (Microvention, Inc.).
The global Neurovascular Devices Market research report, published by Value Market Research, is designed to offer various market framework such as market size, portion, trends, growth path, value and factors that impact the current market dynamics over the forecast period 2021-2027.
Most importantly, this report also provides the latest significant strategies adopted by major players along with their market share.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the neurovascular devices market include Heat Map Analysis of Private Companies, Abbott, W. L. Gore & Associates, Inc., Johnson & Johnson, Medtronic, Merit Medical Systems, Inc., MicroPort Scientific Corporation, Penumbra, Inc., Stryker and Terumo Medical Corporation.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Neurovascular Devices Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/neurovascular-devices-market/download-sampleMarket DynamicsThe prominent drivers driving the development of the market is the thriving prevalence of strokes across the world.
The other major factors propelling the growth include a swelling number of patients, continuous product improvement, favorable medical compensation, and rising market demand for productive neurovascular devices.
Further, increasing researches for the improvement in neurovascular treatments, along with the expanding awareness among surgeons regarding minimally intrusive surgical methods deliver considerable growth chances in the market.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
Neurovascular devices are increasingly being used in for treating and management of neurovascular disorders such as arteriovenous malformations (AVMs) and brain aneurysm.
As the global burden of neurovascular disorders continue to rise, the demand for their treatments gains further traction.
Other factors that are reflecting favourably on the market include expansion of the geriatric population, and advances in medical technology in the field of interventional neurology.
Owing the low risk of damaging surrounding tissues and minimal surgical trauma, interventional procedure are more favoured as compared to neurosurgery.
On the other hand, inadequate number of hilly skilled neurologist, particularly in developing countries expected to have a negative impact on the growth of the market.
Reportedly, the funding syndicate in included two new international investors with the existing stakeholders.
