Neurovascular Intervention Devices Global Market - Forecast to 2027
Over the decade, due to the technological advancements with emerging and innovative technologies used under minimally invasive conditions has led to the rapid development of neurovascular interventions.
New York, Oct. 21, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Neurovascular Intervention Devices Global Market - Forecast to 2027" - https://www.reportlinker.com/p05476600/?utm_source=GNWAs a result of rapid advances, there is the great expansion in the potential therapeutic application for neurovascular diseases.
Neurovascular Interventional devices are used to treat intracranial aneurysm, ischemic stroke, arteriovenous malformation, carotid stenosis and other diseases like intracranial stenosis, dural fistula. The Neurovascular Intervention devices global market is expected to grow at a high single digit CAGR from 2020 to 2027. The market is primarily driven by the increase in incidence and prevalence of neurovascular diseases like intracranial aneurysm, stroke and arteriovenous malformations, increase in the aging population, technological advancement, acquisitions and favourable reimbursements and factors such as product recall, complications associated with implanted devices, lack of skilled and trained professionals, emerging alternatives such as stem cell therapies, radiation therapies and also stringent regulatory policies for the product approval due to classification of the neurovascular interventions as class II and III devices thereby hindering the growth of the market.
Neurovascular Intervention devices global market is segmented based on products, applications and geography. The products are segmented into artificial embolization devices, stents, thrombectomy devices and support devices. Among products, the artificial embolization devices segment accounted for the largest share in 2020 and is projected to grow at a low single digit CAGR from 2020 to 2027 due to technological advancements in coils & flow diverter, development of coils for dual application i.e. for intracranial aneurysm and arteriovenous malformation. Further, the artificial embolization devices are sub-segment into coils, liquid embolics, flow diverters, flow disruptors and others (embolic spheres and vascular plugs). The coil segment accounted for the largest share in 2020 due to the development of soft and smart coils.
As Neuroendovascular space has responded to a significant advance in the properties of coils such as pliability, detachment zone, coatings, lengths, and shapes hence, driving the coils market. The flow diverter segment is the fastest-growing segment and is projected to grow at a high single digit CAGR from 2020 to 2027 due to its advantages like the presence of effective embolic materials that penetrates small vessels, nature of self-expansion, cohesiveness and non-adherence when compared to glues. The coils are further classified into bare metal coils and coated coils. The bare metal coil segment accounted for the largest share in 2020 and the coated coil segment is the fastest-growing segment and is projected to grow at a low single digit CAGR from 2020 to 2027 due to increased compatibility, efficacy and cost.
The Stents are sub-segmented into intracranial stents and carotid stents. The carotid stents segment accounted for the largest share in 2020 and is expected to grow at a high single digit CAGR from 2020 to 2027, owing to the development of self-expanding stents and is used in patients who have high surgical risk and also the availability of different stent structures to tailor the procedures in a different subset of lesions in the brain. The intracranial stents are sub-segmented into stenosis stent and aneurysm coil stent. The aneurysm coil stents segment accounted for the largest share in 2020 and the stenosis stent segment is projected to grow at a high single digit CAGR from 2020 to 2027 due to increase in the intracranial aneurysm procedures. The thrombectomy devices are sub-segmented into stent retrievers and aspiration devices. The stent retriever segment accounted the largest share of in 2020 and is expected to grow at a low double digit CAGR from 2020 to 2027 due to product approvals and expansion in indication of treatment from 6 hrs to 24 hrs.
The global neurovascular intervention markets by applications are segmented into intracranial aneurysm, ischemic stroke, arteriovenous malformation and others. Among applications, the intracranial aneurysm segment accounted for the largest share in 2020 due to the increase in incidence and prevalence of intracranial aneurysm and increase in the aging population. The Ischemic stroke segment is fastest-growing segment during the forecasting period with a high single digit CAGR from 2020 to 2027 due to increase in product regulatory approvals of thrombectomy devices, increase in ischemic stroke patients which are in turn driven by the rise in population with smoking, alcohol consumption, hypertension and diabetes, technological advancement in stent retriever and aspiration devices which aids in local arrest of blood flow and removal of thrombus without fragmentation and theses devices can retrieve clots of large size.
The global neurovascular intervention global market by geography is segmented as North America (U.S. and others), Europe (Germany, U.K., France and Others), Asia-Pacific (Japan, China, India, and Others) and Rest of the World (Brazil, Rest of Latin America and Middle East & others). North America accounted for the highest market share followed by Europe in 2020. Favourable reimbursement coverage, adoption of advanced minimally invasive procedures and increase in incidence and prevalence of neurovascular diseases are the driving neurovascular intervention devices market. The Asia-Pacific region is the fastest-growing region with a high single digit CAGR from 2020 to 2027. However, Asian countries especially India and China are the fastest-growing nations at a high single digit CAGR from 2020 to 2027 with its growing awareness of minimally invasive techniques, a gradual increase in the healthcare expenditure and increase in the aging population and reduction in the cost of neurovascular interventions.
The Neurovascular Intervention devices market is a consolidated, highly competitive market and all the existing players in this market are involved in developing new and advanced products to maintain their market shares. Some of the key players of the Neurovascular Intervention devices global market are Stryker Corporation (U.S.), Medtronic Plc (Ireland), Penumbra, Inc. (U.S.), Terumo Corporation (Micro Vention, Japan), Johnson & Johnson (U.S.), Balt Extrusion (France), Abbott Laboratories (U.S.), Boston Scientific Corporation (U.S.), Silk Road Medical Inc. (U.S.), Microport Scientific Corporation (China), and Acandis GmbH (Germany).
The report provides an in-depth market analysis of the above-mentioned segments across the following regions:
• North America
• Rest of the World (RoW)
o Rest of Latin America
o Middle East & Others
Read the full report: https://www.reportlinker.com/p05476600/?utm_source=GNW
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