Neurovascular Devices Market is anticipated to depict strong growth during 2023-2032, owing to the constant technological innovations across neurovascular devices. In recent times, neurotechnologies have evolved to be more effective with closed-loop therapeutic control systems that deliver stimulation with optimal spatial resolution for better clinical outcomes.
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Ongoing product launches and marketing strategies by leading market behemoths is speculated to influence the overall business landscape through the coming years. For instance, Medtronic plc in 2022, launched Medtronic Neurovascular Co-Lab Platform developed to expedite the innovation in stroke treatment and care.
Overall, the neurovascular devices industry is segmented in terms of product, process, therapeutic application, end-use, and region.
Based on the product, the neurothrombectomy devices segment will gain momentum from 2023 to 2032. The segmental growth will be attributed to the rising incidences of acute ischemic stroke globally. As per the WHO statistics, approximately 15 million people are likely to suffer from stroke each year globally. In addition, the neurothrombectomy procedure offers better outcomes and lowers the mortality rate in patients making it one of the most preferred treatments for acute ischemic stroke.
Considering the process, the neurothrombectomy procedure segment will depict over 6% CAGR between 2023-2032. Increasing product advancements offering enhanced neurothrombectomy procedures will favor segmental growth over the forecast period.
By therapeutic application, the stenosis segment was valued at over USD 567 million in 2022. Intracranial stenosis supports narrowing of a brain artery. Increasing incidences of spinal stenosis will positively stimulate segment expansion by 2032. For instance, several studies using the International Classification of Diseases codes revealed that the prevalence of spinal stenosis was between 7% and 23% in 2022.
In terms of end-user, the clinics segment is slated to exhibit over 6% CAGR through 2032. The segmental expansion would be ascribed to the growing patient influx in clinics for neurovascular illness treatments such as aneurysms and hemorrhagic strokes and cost-effective primary care. Also, several clinics are being outfitted with cutting-edge neurovascular equipment, which will fuel the market development.
Regionally, Europe neurovascular devices market held over 29.5% market share in 2022. The regional market growth would come from the rising burden of chronic neurological disorders across countries such as Germany, the UK, and France. As per a study, neurological disorders in the EU ranked third after CVDs and cancers depicting more than 13% prevalence in 2020. In addition, the presence of the leading industry participants across the region will benefit the overall industry.
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Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Methodology
1.2 Market scope and definitions
1.3 Base estimates and working
1.3.1 Data collection
1.4 Forecast parameters
1.5 COVID-19 impact analysis at global level
1.6 Data validation
1.7 Data sources
1.7.1 Primary
1.7.2 Secondary
1.7.2.1 Paid sources
1.7.2.2 Unpaid sources
Chapter 2 Executive Summary
2.1 Neurovascular devices industry 360º synopsis, 2018 - 2032
2.1.1 Business trends
2.1.2 Product trends
2.1.3 Process trends
2.1.4 Therapeutic application trends
2.1.5 End-use trends
2.1.6 Regional trends
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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.
