Neurovascular devices are medical instruments that are used in treatment of neurovascular disorders affecting cerebral arteries and veins of brain. Some common neurovascular devices include aneurysm coils, intracranial stents, cerebral balloon systems among others. These devices help in filtration and flow diversion of blood thus improving blood circulation and brain function. The growing prevalence neurological disorders like stroke and cerebral aneurysm has boosted the demand for neurovascular devices. Neurovascular disorders affect millions of people globally and require effective minimally invasive treatment options for better outcomes.
The Global Neurovascular Devices Market is estimated to be valued at US$ 3.05 Bn in 2024 and is expected to exhibit a CAGR of 13% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the Neurovascular Devices are 3M, Convatec Group PLC, Smith & Nephew PLC, Urgo Medical, and Coloplast Corporation, among others. 3M is a leading manufacturer of medical tapes and wound care products for neurovascular use. Convatec manufactures ostomy care products and advanced wound therapies.
The key opportunities in the Neurovascular Device Market include development of advanced flow diverters, coiling assistance devices and bioabsorbable stents. There is also demand for minimally invasive neurosurgical robotic technologies for treating complex neurovascular disorders.
The major players are focused on expanding their geographical presence in emerging regions of Latin America, Asia Pacific and Middle East & Africa. For instance, Smith & Nephew launched its products in India and plans to double its India base by 2023. Convatec aims to strengthen its presence in China.
Market Drivers
Growing elderly population susceptible to neurological disorders is a key factor driving the neurovascular devices market. Changing lifestyles and risk factors like hypertension are contributing to rising stroke incidences. Advancements in interventional neurology and availability of reimbursement are further augmenting the market growth.
Market Restrain
High costs of neurovascular procedures and devices remain a major challenge especially in developing nations. Lack of skilled neurosurgeons also restrains the market potential to some extent. Stringent regulations for new product approvals also restrict quicker market entry for small players.
Segment Analysis
The neurovascular devices market is segmented into neurothrombectomy devices, aneurysm coiling and embolization devices, cerebral balloon angioplasty and stenting systems, support devices, and aneurysm clips. Among these, the aneurysm coiling and embolization devices segment dominated the market in 2024 due to rise in incidence rates of unruptured brain aneurysms and intracranial aneurysms. Aneurysm coiling and embolization devices are highly preferred minimally invasive techniques for the treatment of brain aneurysms.
Global Analysis
Regionally, North America accounted for the largest share of the global neurovascular devices market in 2024 due to increase in healthcare expenditure and rise in demand for minimally invasive procedures. The presence of advanced healthcare infrastructure and availability of skilled professionals are also contributing for the dominance of North America in the global market. Asia Pacific is anticipated to grow at the highest CAGR during the forecast period owing to rise in healthcare expenditure, increase in geriatric population, and growth in prevalence of risk factors for stroke and brain aneurysms in developing nations such as India and China. Countries in Asia Pacific are projected to offer immense growth opportunities to market players on account of enhancement in healthcare facilities and medical reforms.
Get more insights on Neurovascular Device Market
TheBusinessResearchCompany published its Interventional Neurology Devices And Equipment Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global interventional neurology devices and equipment market.
The report covers the interventional neurology devices and equipment market’s segments- aneurysm coiling & embolization devices, cerebrospinal fluid management devices, neurothrombectomy devices, support devices, hospitals, neurology clinics, ambulatory care centers, embolic coils, flow diversion devices, liquid embolic devices, carotid artery stents, embolic protection systems, micro guide wires, micro catheters, clot retrieval devices, suction and aspiration devices, and snares.Explore Complete Report https://www.thebusinessresearchcompany.com/report/interventional-neurology-devices-and-equipment-global-market-reportInterventional Neurology Devices And Equipment Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 50+ geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.Request to get the sample of this report https://www.thebusinessresearchcompany.com/sample.aspx?id=2433=smpStryker Inc.’s latest technological development Neuroform Atlas Stent System is expected to provide significant results to treat brain aneurysms with embolic coils.
Neuroform Atlas has enhanced stent conformability, a low-profile delivery system, and high deployment accuracy even in distal anatomy, making it the latest choice of neurosurgeons, thereby steering the market.Get Discount On This Report https://www.thebusinessresearchcompany.com/sample.aspx?id=2433=discountChapters from Table of Content:Chapter 1.
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.
