This study involved four major activities in estimating the current size of the neurovascular devices market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market.
The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were done to determine the market size of the segments and sub-segments.
Expected Revenue Surge:
The neurovascular devices/ interventional neurology market size is expected to grow from an estimated USD 2.5 billion in 2021 to USD 3.8 billion by 2026, at a CAGR of 8.6%.
Major Growth Influencing Factors:
The growing target patient population, ongoing product development, and commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across the emerging markets, growth in market demand for effective neurovascular devices, increase in research in the field of neurovascular therapies, rise in demand for minimally invasive neurosurgical procedures, and increase in awareness among neurosurgeons about minimally invasive surgical procedures are high growth prospects for the neurovascular devices market during the forecast period.
Download PDF Brochure@
The aneurysm coiling & embolization devices segment is expected account for the largest share of the neurovascular devices market during the forecast period.
On the basis of 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 & embolization devices product segment, by type, is further segmented into embolic coils, flow diversion devices, and liquid embolic agents. The aneurysm coiling & embolization devices segment is estimated to account for the largest share of the neurovascular devices/interventional neurology market, by product, in 2021, owing to growing end-user preference for minimally invasive neurosurgical procedures and increasing market availability of embolic coils for neurovascular treatment.
The cerebral aneurysm segment is estimated to account for the largest share of the global neurovascular devices market during the forecast period.
On the basis of 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 neurovascular devices/interventional neurology market, by pathology, in 2021, led by the growing adoption of minimally invasive neurosurgical procedures among neurosurgeons, increasing healthcare expenditure in emerging countries, and increasing incidence of risk factors (such as high blood pressure, cigarette smoking, high cholesterol, diabetes, and obesity).
The ambulatory care centers segment is expected to grow at the highest CAGR during the forecast period.
Based on end-user, the neurovascular devices/interventional neurology market has been segmented into hospitals & surgical centers, ambulatory care centers, and research laboratories, and academic institutes. As of 2020, hospitals & surgical centers are estimated to account for the largest share of the global neurovascular devices/interventional neurology market in 2021, while ambulatory care centers are projected to register the highest CAGR during the forecast period. Growing patient preference for minimally invasive medical procedures, rising number of ambulatory surgery centers across developed countries, along with the ease of scheduling, the focused clinical staff, the improved productivity, and the increased safety, and efficacy of these centers, are the major factors that are expected to drive the growth of this end-user segment in the coming years.
North America is expected to be the largest market during the forecast period.
North America is estimated to be the largest market for neurovascular devices during the forecast period. The neurovascular devices/interventional neurology market in North America is driven primarily by factors such as the growing target patient population for neurovascular diseases, rising awareness among neurosurgeons regarding the benefits offered by interventional neurology devices, and ongoing government initiatives to modernize & expand healthcare infrastructure. Additionally, the adoption of these devices has increased due to falling product prices, thereby further supporting the market growth in this region.
To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the neurovascular devices/interventional neurology market. The major players in the neurovascular devices/interventional neurology market are Johnson & Johnson (US), Medtronic PLC, Stryker Corporation (US), Terumo Corporation (Japan), Penumbra, Inc. (US), MicroPort Scientific Corporation (China), and Kaneka Corp. (Japan) among others.
Different Growth Strategies Adopted by Them:
These players are adopting various strategies to increase their share in the neurovascular devices market. Collaborations & agreements, new product launches, and expansions have been a widely adopted strategy by the major players in neurovascular devices industry.
Request Sample Pages@
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarketss flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441