Pune, India, May 26, 2022 (GLOBE NEWSWIRE) -- According to MarketStudyReport, the global neurovascular devices market size is predicted to reach USD 4,590 million by 2028, representing a CAGR of 6.7% through 2022-2028. Rising investments towards expansion and development of advanced healthcare infrastructure coupled with growing geriatric population are some of the prime factors fueling the overall market size.
It entails a comprehensive study of backdated information and current dynamics, in order to predict the growth pattern of this marketplace over 2022-2028. The various market segmentations are also evaluated to understand the prevailing trends and revenue generating opportunities found in this industry vertical, further allowing for profit enticing decisions among investors.
It is worth noting that illnesses in which a part of the brain is temporarily or permanently impacted by bleeding or limited blood flow are referred to as neurovascular or cerebrovascular disease. Blood artery constriction, clot formation, blockage, and blood vessel rupture can all cause blood flow restrictions .
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Moreover, atherosclerosis, aneurysms, arteriovenous malformations, and other neurovascular illnesses that affect the nervous system and brain, as well as the blood vascular system linked with them, are treated with neurovascular devices.
Thus, increasing prevalence of neurovascular disorders and the mounting demand for minimally invasive surgical procedures are favoring the overall market dynamics. However, the high cost of neurovascular devices and a scarcity of experienced specialists could act as major bottlenecks for the overall market expansion.
Overview of market segmentations
The global neurovascular devices market is analyzed based on product type, application spectrum, end-user reach, and geographical landscape.
By product type, the market is divided into access devices, angioplasty and stenting, embolization devices, and thrombectomy devices. Experts claim that the embolization devices segment accounted for the largest market share in 2021 and is expected to depict similar growth trends during the forecast duration.
On the basis of application spectrum, the market is bifurcated into ischemic strokes, cerebral artery stenosis, arteriovenous malformation and fistulas, cerebral aneurysm, and others. The ischemic strokes segment accounts for highest revenue share and is expected to maintain its growth momentum in the ensuing years, primarily to increasing cases of obesity and widespread adoption of unhealthy lifestyle.
The end-user analysis of this business space consists of specialized clinics, hospitals, and ambulatory surgical centers.
Summarizing the regional outlook
The geographical reach of the global neurovascular devices market spans across Asia Pacific, Europe, North America, and the rest of the world. In terms of revenue, the Asia Pacific market is predicted to expand the fastest, owing to rising aging population and increasing prevalence of neurovascular illnesses in the region.
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Global Neurovascular Devices Market by Product Type (Revenue, USD Million, 2018-2028)
Access Devices
- Guidewire
- Microcatheter
Angioplasty and Stenting
- Embolic Protection Systems
- Carotid Stenting
Thrombectomy Devices
- Liquid Embolic Agent
- Flow Diverter
- Embolic Coils
Embolization Devices
- Snares
- Suction & Aspiration Devices
- Clot Retrieval Devices
Global Neurovascular Devices Market Application Spectrum (Revenue, USD Million, 2018-2028)
- Arteriovenous Malformation and Fistulas (AVM)
- Ischemic Strokes
- Cerebral Artery Stenosis
- Cerebral Aneurysm
- Others
Global Neurovascular Devices Market by End-user Reach (Revenue, USD Million, 2018-2028)
- Ambulatory Surgical Centers (ASCs)
- Hospitals
- Specialized Clinics
Global Neurovascular Devices Market by Geographical Reach (Revenue, USD Million, 2018-2028)
- Asia Pacific
- North America
- Europe
- The Rest of the World
Global Neurovascular Devices Market by Competitive Arena (Revenue, USD Million, 2018-2028)
- EndoVasix Inc.
- Johnson & Johnson
- Medtronic plc
- MicroPort Scientific Corporation
- MIVI Neuroscience Inc.
- Oxford Endovascular Limited
- Penumbra Inc.
- Rapid Medical Ltd.
- Stryker Corporation
- Terumo Corporation
Table of Content:
PART 1. INTRODUCTION
- Report description
- Objectives of the study
- Market segment
- Years considered for the report
- Currency
- Key target audience
PART 2. METHODOLOGY
PART 3. EXECUTIVE SUMMARY
PART 4. MARKET OVERVIEW
- Introduction
- Drivers
- Restraints
- Impact of COVID-19 pandemic
PART 5. MARKET BREAKDOWN BY PRODUCT
- Access devices (microcatheter, guidewire)
- Angioplasty and stenting (carotid stenting, embolic protection systems)
- Embolization devices (embolic coils, flow diverter, liquid embolic agent)
- Thrombectomy devices (clot retrieval devices, suction & aspiration devices, snares)
PART 6. MARKET BREAKDOWN BY APPLICATION
- Arteriovenous malformation and fistulas (AVM)
- Cerebral aneurysm
- Cerebral artery stenosis
- Ischemic strokes
- Others
PART 7. MARKET BREAKDOWN BY END USER
- Ambulatory surgical centers (ASCs)
- Hospitals
- Specialized clinics
PART 8. MARKET BREAKDOWN BY REGION
- Asia Pacific
- Europe
- North America
- Rest of the World (RoW)
PART 9. KEY COMPANIES
Related Report:
Neurovascular Devices Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028
The neurovascular devices market is pegged to register considerable gains by 2028, driven by the rapidly growing prevalence of neurological disorders across the globe. The fast growing disease load is further calling for the development of more effective neurovascular devices, which will most notably drive the industry outlook over the forthcoming yeas. Neurological disorders, also known as NDs, are heterogeneous diseases which affect the body's peripheral, autonomic, as well as central nervous system. Some of the non-communicable NDs include ailments such as multiple sclerosis, non-migraine headaches, migraines, Alzheimer's disease as well as other dementias, epilepsy, Parkinson's disease, and other neurological disorders. Ambulatory surgical centers would be emerging as the most distinguished end-use segment having held a market valuation around USD 1 billion in 2021. The growth is attributed to low-cost treatment offered at ambulatory surgical centers. The Latin America neurovascular devices market is expected to witness a CAGR of over 4.5% through the forecast period owing to the developing healthcare and medical care infrastructure of the region.
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