This 2018 Neurovascular Devices market report provides 2024 forecasts built using statistical analysis while covering data from primary research as well as secondary sources that help gain market insights and provide industry growth expectations.
Neurovascular Devices Market will reach USD 2.0 billion by 2024, Ischemic strokes will dominate the market with revenue share of 43.3% in 2017 owing to its high incidence along with increasing financial burden on healthcare systems. Strong government support and increasing funding for stoke prevention will foster segment revenue size in the future. Brain aneurysm will be fastest growing segment over the forecast period.
Report Mainly focuses on the top Manufacturers in global market are given bellow - Terumo Corporation, Penumbra, Stryker, Johnson & Johnson (Depuy Synthes) and Medtronic.
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By Product
By Process
By Therapeutic Application
By End Use
Increasing incidences and financial cost burden associated with neurological disorders such as acute ischemic stroke and brain aneurysm will drive neurovascular devices industry growth over the forecast period. As per American Stroke Association, worldwide prevalence of stroke accounted for 25.7 million in 2013. Also, stroke is one of the leading cause of death as well as long-term disability in the U.S. This will act as a major factor propelling demand for neurovascular devices in the future.
Rising geriatric population vulnerable to brain disorders coupled with soaring demand for minimally invasive procedures will substantially influence the neurovascular devices revenue size.
Increasing healthcare expenditure in developing countries along with rising government initiatives for the prevention of neurological disorders will foster market growth over the forecast timeline. However, dearth of neurosurgeons in the developing countries along with soaring cost of neurovascular devices are factors impeding market growth over the coming years.
Embolic coils dominated the industry with revenue more than USD 500 million in 2017. The segment will witness lucrative growth over the forecast period due to its wide applications in therapeutic areas such as brain aneurysm and ischemic strokes.
Carotid stents will witness considerable growth of 3.0% by 2024. This is attributable to the advantages offered by such devices such as its minimally invasive nature and its ability to prevent artery wall from collapsing and preventing restenosis. These devices are also expected to gain popularity owing to its revascularization benefits. Such factors will propel segment revenue growth.
Coiling procedure led the market with revenue share of 37.1% in 2017 and is expected to witness similar trend over the coming years. Growing number of patients suffering from brain aneurysm coupled with surging demand for minimally invasive procedures will augment segmental growth. Flow disruption technique is poised to be the fastest growing segment by 2024.
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Hospitals led the industry and will register more than 3.5% CAGR by 2024. This is attributable to increasing neurological disorders and growing demand for neurovascular devices to treat patients suffering from neurovascular diseases. Canada neurovascular devices market will witness significant growth due to increasing incidences and mortality associated with stoke in the country. Presence of The Canadian Neurovascular Health Society focused on research of neurovascular conditions and creating awareness among patients will favor business growth.
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