Neurovascular Devices Market – Global Industry Analysis And Forecast(2021 to 2029)

Neurovascular Devices Market was valued at US$ 2.5 Bn. in 2021. The Global Neurovascular Devices Market size is estimated to grow at a CAGR of 6 % over the forecast period.
Neurovascular Devices Market Overview:
The report explores the Neurovascular Device market's segments (Type, Application, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2017 to 2020. The report investigates the Neurovascular Device market's drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on thorough analytics of the Neurovascular Device market's contemporary competitive scenario.



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2021 is considered as a base year to forecast the market from 2022 to 2029. 2021’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2027. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Neurovascular Devices Market Dynamics:
Neurosurgeons and clinical experts are progressively taking a gander at restorative choices that can really decrease the gamble of casualty or seriousness of neurovascular sicknesses in patients. With a developing number of patients experiencing neurovascular sicknesses, (for example, epilepsy, cerebrum stroke, and cerebral aneurysm) and rising seriousness of ailments (like discharge and nearby diseases) in target patients, the interest for powerful neurovascular therapies is ceaselessly ascending across key business sectors like the US, Germany, Japan, China, and India. For example, a cerebral aneurysm is a typical neurovascular problem across the world. This condition has a huge gamble of discharge or super durable neurological harm related with it. Starting around 2020, ~6.5 million cerebrum aneurysm cases were accounted for in the US; besides, ~30,000 individuals in the US endure mind aneurysm crack consistently.

The significant expense of neurovascular surgeries and gadgets is a central point controlling the worldwide neurovascular gadgets market, particularly in non-industrial nations with unfortunate repayment strategies. The typical expense of standard methodology to treat aneurysm and conduit problems is USD 45,000 to USD 50,000 in the US. Furthermore, support costs and other related aberrant costs increment the all-out cost of responsibility for gadgets, accordingly restricting their reception. Little medical clinics and independent ASCs are less disposed to put resources into expensive and refined advancements because of monetary imperatives; this is more unmistakable in non-industrial nations. Attributable to significant expenses and an unfortunate repayment situation, an exceptionally restricted pool of patients in non-industrial nations can manage the cost of neurological treatment. Accordingly, medical services offices are hesitant to put resources into new or innovatively progressed frameworks, in this manner restricting the neurovascular gadgets market.

Rise in demand for minimally invasive neurosurgical systems negligibly obtrusive operations offer huge clinical benefits over traditional surgeries, for example, more limited emergency clinic stay, quicker quiet recuperation, higher procedural security and viability, and more prominent moderateness. Consequently, the market acknowledgment and interest for endoscopic and other insignificantly obtrusive surgeries is developing among clinical experts across the world. Geriatric people are more vulnerable to neurological and neurovascular illnesses and favor treatment methodology that offer simple analysis, simple strategies, higher wellbeing, the most un-conceivable emergency clinic stay, improved viability, and sensible costs.

Maturing likewise builds the rate of unfriendly thrombotic occasions like pneumonic embolism, stroke, and epilepsy, which can require neurosurgical intercessions. Besides, arteriovenous contortions additionally lead to hemorrhages and seizures, usually announced among people matured 40 years or more (Source: Medscape). In this manner, the rising geriatric populace and interest for negligibly obtrusive strategies are supposed to offer huge learning experiences for unmistakable as well as developing business sector players in the field of interventional neurology devices.

A few key neurovascular gadget makers (like Stryker and Medtronic Plc) have been effective in the turn of events and resulting commercialization of their separate items during the last ten years. These items were principally planned for interventional use during neurovascular medical procedures. Be that as it may, across the full-grown markets (especially in the US), the formative pipeline for interventional nervous system science items is impacted chiefly by evaluating pressure looked by the key item makers because of unsupportive government changes attempted over the most recent three years. A portion of these unsupportive unofficial laws and changes incorporate the accompanying:

• The Patient Protection and Affordable Care Act that was suspended for a two-year time span starting January 1, 2018, got restored in 2020. The law forces a 2.3% extract charge on the deal in the US of specific clinical gadgets by a maker, maker, or shipper.
• Administrative regulations in the US require significant logical proof for clinical preliminaries directed on human subjects to affirm the security, viability, and hazard profile of explicit clinical gadgets expected for a specific remedial application (counting for neurovascular mediation).
Neurovascular Device Market Segment Analysis:
Based on product, the Neurovascular Devices Market is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, support devices, and neuro thrombectomy devices.

The aneurysm coiling and embolization gadgets item fragment, by type, is additionally divided into embolic curls, stream redirection gadgets, and fluid embolic specialists. The aneurysm snaking and embolization gadgets section is assessed to represent the largest share of the interventional nervous system science market, result, in 2021, attributable to developing end-client inclination for negligibly obtrusive neurosurgical techniques and expanding market accessibility of embolic curls for neurovascular treatment.



Based on Pathology, the Neurovascular Devices Market is segmented into ischemic strokes, cerebral aneurysm, carotid artery stenosis, arteriovenous malformations & fistulas, and other diseases (including cavernous malformations and Moyamoya disease, among others)

The cerebral aneurysm segment is estimated to account for the largest share of the global interventional neurology market, by pathology, in 2021, driven by the developing reception of negligibly obtrusive neurosurgical techniques among neurosurgeons, expanding medical care consumption in arising nations, and expanding frequency of hazard factors, (for example, hypertension, cigarette smoking, elevated cholesterol, diabetes, and weight).
Neurovascular Devices Market Regional Insights:
North America overwhelmed the market with the share of 26.65% in 2021, attributable to the presence of key makers like Stryker Corporation, Penumbra, Inc., Johnson and Johnson, and Merit clinical frameworks, Inc. in the area. In April 2020, Cerus Endovascular Ltd. gotten CE Mark endorsement for its 0.021-inch Contour Neurovascular System, viable with more modest monetarily accessible 021 microcatheters for treatment of saccular intracranial aneurysms.

The rising predominance of neurological problems, and expanding interest for negligibly obtrusive surgeries are driving the market development around here. For example, as per the CDC, in US, yearly in excess of 795,000 individuals experience the ill effects of stroke, among 87% is an ischemic stroke.

Expansion in the R&D venture by the makers and ascend in the public authority drives are contributing colossally to the local market development. For example, Medtronic Neurovascular Clinical Affairs is supporting a clinical preliminary to survey the wellbeing and viability of the 'Pipeline Vantage Embolization Device' with Shield Technology in the treatment of intracranial aneurysms inside the expected sign for use. Additionally, as of late in April 2021, the Society of Neurointerventional Surgery (SNIS) and NeuroPoint Alliance (NPA) teamed up with the Society of Vascular and Interventional Neurology (SVIN) to the NeuroVascular Quality Initiative-Quality Outcomes Database (NVQI-QOD).

In February 2020, NeuroVasc Technologies, Inc. entered an essential organization with the Wego Group that remembers USD 34 million for subsidizing to help the company's item portfolio improvement and worldwide clinical preliminary program. The essential collusion denotes a significant step in the right direction for NeuroVasc Technologies in putting up a full neurovascular stage for sale to the public.

Asia Pacific is supposed to develop at the most elevated CAGR of 7.9% during the gauge time frame because of the variables, for example, rising objective infection trouble. As per an article distributed by M Gourie Devi, it is extended that around 30 million individuals in India experience the ill effects of a few types of neurological sicknesses and the typical commonness rate is 2,394 patients for every 1,00,000 of the populace. Besides, factors, for example, rising medical care consumption, section of vital participants in the district are additionally contributing towards the market development.

In December 2020, Terumo Corporation sent off the WEB Embolization System (Product name in Japan: Woven EndoBridge Device), an intrasaccular aneurysm treatment gadget. The gadget is a first-of-its-sort intrasaccular stream disruptor gadget accessible for the Japanese market. With the business send off, Terumo means to give new treatment choices to mind aneurysm cases that were trying to treat in as of now endorsed approaches.

The objective of the report is to present a comprehensive analysis of the global Neurovascular Device Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Neurovascular Device Market dynamic, and structure by analyzing the market segments and projecting the Neurovascular Device Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Neurovascular Device Market make the report investor’s guide.
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Global Neurovascular Device Market


Report Coverage
Details


Base Year:
2021
Forecast Period:
2022-2029


Historical Data:
2017 to 2021
Market Size in 2021:
US$ 2.5 Bn.


Forecast Period 2022 to 2029 CAGR:
6%
Market Size in 2029:
US$ 3.76 Bn.


 Segments Covered:
by pathology
• Ischemic Strokes
• Cerebral Aneuryms
• Carotid Artery Stenosis
• Arteriovenous Malformations and Fistulas
• Other Diseases


by product
• Aneurysm coiling & embolization devices
o Embolic coils
 Bare detachable coils
 Coated detachable coils
o Flow diversion devices
o Liquid embolic agents
• Cerebral balloon angioplasty & Stenting systems
o Carotid artery stents
o Embolic protection devices
o Balloon catheters
• Support devices
o Microcatheters
o Guidewires
• Neurothrombectomy devices
o Clot retrievals
o Suction & aspiration devices
o Snares


by end-use
• Hospitals & surgical centers
• Ambulatory care centers
• Research laboratories & academic institutes



Neurovascular Device Market by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Neurovascular Device Market Key Players:
• Medtronic
• Johnson and Johnson Services Inc.
• Penumbra, Inc.
• Microport Scientific Corporation
• Stryker
• Microvention Inc (Terumo Corporation)
• Codman Neuro (Integra Lifesciences)

Frequently Asked Questions about Neurovascular Devices Market

1] What segments are covered in the Neurovascular Devices Market report?
Ans. The segments covered in the Neurovascular Devices Market report are based on product, Pathology, and End-use.

2] Which region is expected to hold the highest share in the Neurovascular Devices Market?
Ans. The North American region is expected to hold the highest share in the Neurovascular Devices Market

3] What is the market size of the Neurovascular Devices Market by 2029?
Ans. The market size of the Neurovascular Devices Market by 2029 is expected to reach US$ 3.76 Bn.

4] What is the forecast period for the Neurovascular Devices Market?
Ans. The forecast period for the Neurovascular Devices Market is 2022-2029.

5] What was the market size of the Neurovascular Devices Market in 2021?
Ans. The market size of the Neurovascular Devices Market in 2022 was valued at US$2.5 Bn