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/ interventional neurology market during the forecast period.
New York, May 31, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Neurovascular Devices/Interventional Neurology Market by Product, Pathology User - Global Forecasts to 2026" - https://www.reportlinker.com/p04759533/?utm_source=GNW
The aneurysm coiling & embolization devices segment is expected account for the largest share of the neurovascular devices/interventional neurology market from 2021 to 2026.
On the basis of product, the neurovascular devices/interventional neurology 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/interventional neurology market from 2021 to 2026.
On the basis of pathology, the neurovascular devices/interventional neurology 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 from 2021 to 2026.
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: The largest market in the neurovascular devices/interventional neurology industry.
North America accounted for the largest market share in the neurovascular devices/interventional neurology market in 2020.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.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
• By Company Type: Tier 1- 48%, Tier 2- 36%, and Tier 3- 16%
• By Designation: C-Level- 10%, Director Level- 14%, and Others- 76%
By Region: North America - 40%, Europe - 32%, Asia Pacific - 20%, Lain America - 5%, Middle East & Africa – 3%
*Others include sales managers, engineers, and regional managers.
Note: Tier 1 Company—Revenue > USD 5 billion, Tier 2 Company—Revenue between USD 1 and USD 5 billion, and Tier 3 Company—Revenue < USD 1 billion
The neurovascular devices/interventional neurology market is dominated by a few major players that have an extensive country presence such as Johnson & Johnson (US), Medtronic PLC (Ireland), Stryker Corporation (US), Terumo Corporation (Japan), Penumbra, Inc. (US), and MicroPort Scientific Corporation (China) among others.
The report defines, describes, and forecasts the neurovascular devices/interventional neurology market, by product, disease pathology, end-user, and region.It also offers a detailed qualitative and quantitative analysis of the market.
The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market, which include the analysis of the competitive landscape, market dynamics, market estimates in terms of value and volume, and future trends in the neurovascular devices/interventional neurology market.
Why Buy this Report?
1. The report identifies and addresses the key markets for the neurovascular devices/interventional neurology market, which would help equipment manufacturers and service providers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and help them in making better strategic decisions.
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