Neurovascular Devices Market Synopsis:

The growth of healthcare technology is likely to reflect on the increasing demand for medical devices over the next couple of years. According to a study published by Market Research Future (MRFR), the global neurovascular devices market size is expected to strike a robust CAGR of 8.8% over the assessment period 2017 to 2023. The increasing burden of neurovascular diseases such as aneurysm and arteriovenous malformations (AVMs) among others are expected to encourage the expansion of the market in the years to come.

Healthcare technology is being rapidly developing and adopted by healthcare providers. The same trend is likely to continue over the next few years. This, in turn, is prognosticated to support the growth curve of the neurovascular devices market across the projection period. The rapid developments witnessed in the healthcare sectors of developing regions resonate strong potential for market growth. Key players are focusing on capitalizing the thriving demand across these fast-developing nations. This, in turn, is anticipated to catapult the market on upward trajectory.

Rising healthcare expenditure is likely to aid the growth of the neurovascular devices market over the next couple of years. Other factors, such as favorable reimbursement policies, product development, etc. are expected to expand the neurovascular diseases market in the forthcoming years. Also, rising investments in research & development, supported by governments, are projected to unleash developmental opportunities to the market in the foreseeable future.

Competitive Landscape:

The global market for neurovascular devices market is witnessing steady growth on the basis of support from companies like Johnson & Johnson Services, Inc., TERUMO CORPORATION, Stryker, Medtronic, Medikit co., ltd., Penumbra, Inc., Evasc, Abbott, Merit Medical Systems, Inc., Rapid Medical, Secant Group, LLC, MicroPort Scientific Corporation, OxfordEndovascular, Sensome, Neuravi, W. L. Gore & Associates, Inc., LLC., Delaware Corporation, Blockade Medical, and Gynesonics. These companies have gained significant traction from various tactical moves that they have implemented. For instance, their contributions in the mergers, acquisitions, and joint ventures have yielded better results. These companies are also investing much in innovations and spending notable amounts in research and development projects.

Neurovascular Devices Market Segmentation:

On the basis of product, the global neurovascular devices market has been segmented into aneurysm coiling & embolization devices, support device, neurothrombectomy devices, cerebral balloon angioplasty, and stenting systems. The aneurysm coiling & embolization devices segment is sub-segmented into embolic coils (detachable coils, and pushable coils), flow diversion devices, and liquid embolic. The neurothrombectomy devices segment has been sub-divided into retrieval systems, and suction and aspiration devices. The support device segment has been sub-divided into microguidewires and microcatheters. The cerebral balloon angioplasty and stenting systems segment has been sub-divided into carotid artery stents and embolic protection systems (balloon occlusion devices and distal filter devices).

On the basis of the therapeutic application, the neurovascular devices market has been bifurcated into hemorrhagic stroke and ischemic strokes.

On the basis of the end-users, the global neurovascular devices market has been bifurcated into hospitals & clinics, and ambulatory surgical units.

Neurovascular Devices Market Regional Analysis:

The geographical assessment of the global neurovascular devices market spans across Americas, Europe, Asia Pacific, and the Middle East & Africa (MEA). Americas is poised to hold the leading position in the global market place over the next few years. The rising burden of neurovascular diseases is expected to boost the expansion rate of the market in the forthcoming years. In addition, the region has been witnessing a rise in the cases of strokes, which leads to the occurrence of neurovascular diseases. It is anticipated to support the pace of growth of the neurovascular devices market in the years to come.

Europe is anticipated to retain its second spot across the projection period. The developed healthcare infrastructure of the region is poised to support the adoption of advanced medical devices. This, in turn, is projected to expedite the growth of the neurovascular devices market in the region across the projection period. Lastly, Asia Pacific is the fastest growing region and is likely to accrue a significant amount of revenue by the e4n d of the review period.

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Industry News:

 The global market for neurovascular devices is getting hit by the recent outbreak of COVID-19. This is because all the major hospitals are now primarily with treating coronavirus patients and they are postponing any kind of elective surgeries. Various segments of hospitals are functioning in a sluggish manner to accommodate more COVID-19 patients. Coming out of such an extensive impact is no easy task and the market may find itself in dire conditions in the coming few months.