Global Neurovascular Devices Market Size and Revenue Forecasts

The report on the Global Neurovascular Devices Market initially offers an in-depth overview of the Neurovascular Devices Market along with insights into the developments and advancements in the sector. The report offers a comprehensive overview of the regional and competitive landscape and provides a deeper insight into the current market scenario and future growth prospects. The research study also provides a complete analysis of the market drivers, restraints, limitations, threats, risks, and growth opportunities.

The global neurovascular devices market size was USD 2.84 Billion in 2022 and is expected to register a steady revenue CAGR of 6.0% during the forecast period, according to latest analysis by Emergen Research. The neurovascular devices market is witnessing significant growth and innovation as it plays a crucial role in the diagnosis and treatment of various neurological conditions affecting the blood vessels of the brain and spinal cord. Neurovascular devices are used in procedures such as embolization, angioplasty, and stenting to address conditions like aneurysms, arteriovenous malformations (AVMs), and ischemic strokes. The global neurovascular devices market is being driven by factors such as the increasing prevalence of neurological disorders, advancements in technology, growing aging population, and rising demand for minimally invasive procedures.

One of the primary drivers behind the growth of the neurovascular devices market is the rising prevalence of neurological disorders worldwide. According to the World Health Organization (WHO), neurological disorders affect millions of people globally, with conditions such as strokes, aneurysms, and AVMs contributing significantly to the disease burden. The increasing awareness about these conditions, along with improved access to healthcare services, has led to higher diagnosis rates and subsequent demand for neurovascular devices. Additionally, technological advancements in imaging techniques and treatment modalities have facilitated early detection and precise interventions, further driving market growth.

Technological advancements and innovations in neurovascular devices have revolutionized the field, contributing to market growth. For instance, the development of advanced imaging techniques, such as digital subtraction angiography (DSA), magnetic resonance imaging (MRI), and computed tomography (CT), has enhanced the diagnosis and treatment planning for neurovascular conditions. Additionally, the introduction of minimally invasive procedures, including endovascular coiling and stenting, has significantly reduced the risks associated with traditional open surgeries and improved patient outcomes. The continuous evolution of neurovascular devices, including the use of bioresorbable materials and drug-eluting stents, further augments the market growth potential.

While the neurovascular devices market offers promising growth prospects, it also faces certain restraints. One of the key challenges is the high cost associated with these devices and procedures. The advanced technology and materials used in neurovascular devices contribute to their higher price points, limiting their accessibility in some regions, especially in developing economies. Moreover, the stringent regulatory requirements and approval processes for these devices pose challenges for market players, hindering the introduction of new products and innovations. Addressing these cost-related issues and streamlining regulatory procedures will be essential to ensure the market's sustained growth.

Several growth factors are expected to propel the neurovascular devices market in the coming years. Firstly, the increasing geriatric population, particularly in developed regions, is driving the demand for neurovascular devices. Aging is a significant risk factor for neurological disorders, and as the population ages, the prevalence of conditions such as strokes and aneurysms is likely to rise. Additionally, the growing preference for minimally invasive procedures among patients and healthcare professionals boosts the adoption of neurovascular devices. These procedures offer several advantages, including reduced hospital stays, faster recovery times, and fewer complications, leading to increased patient satisfaction.

To provide statistical insights, the Centers for Disease Control and Prevention (CDC) reported that strokes are a leading cause of death and disability globally, affecting around 800,000 people in the United States each year. Furthermore, the American Heart Association estimated that approximately 6 million people in the United States are living with an unruptured brain aneurysm. These statistics highlight the significant patient population requiring neurovascular interventions and the market potential for neurovascular devices.

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The report highlights the current impact of COVID-19 on the Neurovascular Devices market along with the latest economic scenario and changing dynamics of the market. It analyzes the impact of the pandemic on market growth and remuneration. The pandemic has changed the economic scenario of the world and has affected several sectors of the market. The report estimates the market for Neurovascular Devices according to the impact of COVID-19.

Analysis of the segments and their growth projection is carried out by extensive historical and current analysis of the market scenario. Further, the report offers details about the factors and features of the Neurovascular Devices market expected to boost the growth of the industry in the coming years.

Neurovascular Devices Market Segmentation:

  • Device Type Outlook (Revenue, USD Billion; 2019-2032)

    • Cerebral Embolization and Aneurysm Coiling Devices
    • Neurothrombectomy Devices
    • Cerebral Angioplasty and Stenting Systems
    • Support Devices

  • Application Outlook (Revenue, USD Billion; 2019-2032)

    • Cerebral Artery Stenosis
    • Stroke
    • Ischemic Stroke
    • Arteriovenous Malformations
    • Others

  • End-use Outlook (Revenue, USD Billion; 2019-2032)

    • Hospitals
    • Specialty Clinics
    • Others

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The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Neurovascular Devices market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.

Key Companies Profiled in the Report are:

Stryker, Medtronic, Johnson and Johnson Services Inc., Microvention Inc., W. L. Gore & Associates, Inc., Merit Medical Systems., Penumbra, Inc., Lumenis Be Ltd., Acandis GmbH, and Codman Neurosurgery

Regional Landscape section of the Neurovascular Devices report offers deeper insights into the regulatory framework, current and emerging market trends, production and consumption patterns, supply and demand dynamics, import/export, and presence of major players in each region.

The various regions analyzed in the report include:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Answered in the Report:

  • Who are the prominent distributors, vendors, and manufacturers of the market?
  • What are the driving and restraining factors of the growth of the Neurovascular Devices market throughout the forecast period?
  • What are the current and future market trends of the Neurovascular Devices market?
  • What are the sales and price analysis of the product by types, applications, and regions?
  • What are the expected opportunities for the companies and new entrants in the coming years?

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Highlights of Table of Contents (TOC):

  • Overview of Global Neurovascular Devices Market
  • Competitive analysis of the Neurovascular Devices market
  • Regional analysis of Global Neurovascular Devices market production and revenue
  • Regional analysis of Global Neurovascular Devices market supply, consumption, and export & import
  • Type-based market analysis of global Neurovascular Devices production, revenue, and price trends
  • Application-based analysis of the global Neurovascular Devices market
  • Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Neurovascular Devices market
  • Conclusion of the research report
  • Appendix

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