Neurovascular Devices Market

Neurovascular Devices Market is valued at USD 2541.7 Million in 2021 and expected to reach USD 4519.5 Million by 2028 with the CAGR of 8.57% over the forecast period. 

Global Neurovascular Devices Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2022-2028- Increasing incidences of neurovascular diseases, rising cases of brain aneurysm, and growing geriatric population are some of the major factors driving the growth of the Global Neurovascular Devices Market. 

Scope of Global Neurovascular Devices Market Report- 

Neurovascular devices are used to treat neurological disorders. For example, neurovascular devices include clips, coils, and stents, which are used to treat neurovascular disorders such as brain aneurysms. Neurovascular diseases affect the network of blood vessels around the brain. This leads to incurable conditions like strokes and aneurysms. Neurovascular devices are used to prevent stroke, carotid stenosis, aneurysm embolization, and other symptoms. Neurovascular devices are used to perform surgery to treat aneurysms and other cranial blood flow problems. 

The Covid-19 pandemic has shown a negative impact on the growth of the global neurovascular devices market. The impact of an outbreak on the market varies from country to country, depending on the local state of the health system and the actions taken to combat the epidemic. Neurocare and neurosurgeons have been adversely affected by the pandemic. To slow the spread of the coronavirus, brain surgeries have been frequently postponed or canceled during this period. 

The global neurovascular devices market is segmented on the product, application, end-user and region & country level. Based on product, the global neurovascular devices market is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, support devices and neurothrombectomy devices. By application, the global neurovascular devices market is segmented into arteriovenous malformations and fistulas, carotid artery stenosis, ischemic strokes, and cerebral aneurysms. By end-user, the global neurovascular devices market is segmented into hospitals and surgery centers, research laboratories & academic institutes and ambulatory care centres. 

The regions covered in the global neurovascular devices market report are North America, Europe, Asia-Pacific, Latin America, and the rest of the World. Based on country level, the market of global neurovascular devices is sub divided into U.S., Mexico, Canada, U.K., France, Germany, China, Italy, India, Japan, Southeast Asia, Middle East Asia (Saudi Arabia, UAE, Egypt) GCC, Africa, etc. 

Key Players of Global Neurovascular Devices Market Report- 

Some major key players for the global neurovascular devices market report cover prominent players like MicroPort Scientific Corporation, Penumbra, Inc., Stryker Corporation, Terumo Corporation, W. L. Gore & Associates, Inc., Johnson & Johnson, Medtronic plc, Abbott Laboratories, and others.  

Report Analysis	Details
Historical data	2018 - 2021
Forecast Period	2022 - 2028
Market Size in 2021:	USD 2541.7 Million
Base year considered	2021
Forecast Period CAGR %:	8.57%
Market Size Expected in 2028:	USD 4519.5 Million
Tables, Charts & Figures:	175
Pages	200
Neurovascular Devices Comapanies	MicroPort Scientific Corporation, Penumbra, Inc., Stryker Corporation, Terumo Corporation, W. L. Gore & Associates, Inc., Johnson & Johnson, Medtronic plc, Abbott Laboratories, and others.
Segments Covered	By Product, By Application, By End-user
Regional Analysis	North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa

 

News- 

Genesis Medtech Collaborated with Penumbra to Expand Neurovascular Market in China 

On January 20th, 2021; Partnership with the creation of Genesis Medtech's neurovascular franchise, pending complete acquisition of Hua Medtech. Genesis MedTech Group has agreed to fully acquire Hua MedTech as part of its plans to establish a specialty neurovascular franchise, including Penumbra, Inc., an NYSE-listed, global healthcare company focused on innovative therapies. has entered into a strategic collaboration, for domestic sales and production of products with Penumbra's technology for the Chinese market. 

 

 

Increasing Incidences of Neurovascular Diseases, Rising Cases of Brain Aneurysm, and Growing Geriatric Population are Some of the Major Factors Driving the Market Growth  

One of the major factors driving the growth of the neurovascular devices market is the increasing incidences of neurovascular diseases. Neurological diseases are disorders of the brain, spine, and nerves that connect them and supply oxygenated blood. The neurovascular system depends on a constant supply of oxygen and nutrients that are supplied by the arteries and veins. The brain needs a supply of oxygen and nutrients to function, so a malfunction in the system can impair function and quickly become life-threatening. Neurovascular conditions, diseases, or disorders include hemorrhage stroke, ischaemic stroke, cerebrovascular disease, vascular malformations, brain tumors, and others. Lifestyle habits, genetic disorders, and associated chronic diseases can lead to the development of neurovascular diseases. In recent years, the prevalence of neurological disorders has increased significantly. For instance; according to the Journal of the American Heart Association, on January 22nd, 2018; the number of deaths from neurological disorders increased by 50.5%, from 326,000 to 490,000 per year, and DALYs increased by 37.3% (6.0 to 8.3 million).  

In addition, the rising cases of brain aneurysms are also boosting the growth of the neurovascular devices market. The growth of this segment is attributed to the increasing instances of brain aneurysms in the geriatric population. Other major factors that contribute to the development of brain aneurysms include smoking, high blood pressure, and a family history of aneurysms. There are many invasive treatments available to treat this medical condition such as implants such as flow diverters and tubular stents. These neurovascular devices help divert blood flow through the aneurysm sac. Diversion blocks blood flow to the aneurysm, allowing the body to repair the lesion and encourage the patient's artery to rebuild. Larger aneurysms that cannot be treated safely with other methods may benefit from flow diverters. For instance; according to the Brain Aneurysm Foundation, in 2022; An estimated 6.5 million people in the United States will have a brain aneurysm, or about 1 in 50 people.  

Moreover, the growing geriatric population is also supplementing the neurovascular devices market growth. For instance; according to United Nation, in 2019, there were 703 million people in the world aged 65 years. The elderly population is projected to double to 1.5 billion by 2050. Old age is considered one of the most significant risk factors responsible for the development of various diseases such as cardiovascular and neurological conditions.  

However, the high cost associated with neurovascular devices may hinder the growth of the global neurovascular devices market. Despite that, increasing demand for minimally invasive neurosurgical procedures may create more opportunities in the global neurovascular devices market. 

North America Holds a Major Share in the Global Neurovascular Devices Market:  

Geographically, North America is expected to capture a major share in the global neurovascular devices market within the forecast period due to the increasing prevalence of ischemic stroke, and a growing number of technologically advanced product launches by key players in this region. The increasing prevalence of ischemic stroke is driving the growth of the market. For instance; according to the Centers for Disease Control and Prevention; on April 5th, 2022; more than 795,000 people in the U.S. had a stroke and about 87% of all strokes are ischemic strokes, in which blood flow to the brain is blocked. 

The Asia Pacific is the fastest-growing region in the global market due to the increasing prevalence of neurological diseases, increasing geriatric population, and growing demand for minimally invasive surgeries in this region. For instance; according to Deccan Chronicle, on April 12th, 2018; over 30 million people in India suffer from neurological diseases. 

Global Neurovascular Devices Market Segmentation: 

By Product

• Aneurysm coiling & embolization devices 
• Cerebral balloon angioplasty & Stenting systems 
• Support devices
• Neurothrombectomy devices 

By Application

• Arteriovenous Malformations and Fistulas  
• Carotid Artery Stenosis  
• Ischemic Strokes
• Cerebral Aneurysm 

By End-User

• Hospitals and Surgery Centers 
• Research laboratories & Academic Institutes 
• Ambulatory Care Centres 

Neurovascular Devices Market Key Players:

• MicroPort Scientific Corporation
• Penumbra, Inc.
• Stryker Corporation
• Terumo Corporation
• L. Gore & Associates, Inc.
• Johnson & Johnson
• Medtronic plc
• Abbott Laboratories

Key Benefits of Global Neurovascular Devices Market Report– 

• Global Neurovascular Devices Market report covers in-depth historical and forecast analysis 
• Global Neurovascular Devices Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level. 
• Global Neurovascular Devices Market report helps to identify opportunities in marketplace.    
• Global Neurovascular Devices Market report covers extensive analysis of emerging trends and competitive landscape.