According to the latest report by IMARC Group, titled "Neurovascular Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027," the global neurovascular devices market reached a value of US$ 2.56 Billion in 2021. Neurovascular devices are widely used in the treatment of neurovascular diseases. They include clips, coils, and stents for treating various neurovascular disorders, including various peripheral and central nervous system disorders. Several neurovascular conditions that can be treated with neurovascular devices include brain aneurysms, arteriovenous malformation and fistulas, ischemic stroke, and stenosis. Some of the other neurovascular devices include carotid artery stents, distal filter devices, and microcatheters. These devices use minimally invasive and image-guided techniques to treat hazardous and complex conditions of the brain, neck, and spine.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Neurovascular Devices Market Trends:
The global market is majorly driven by the increasing prevalence of neurological disorders. In line with this, the rising demand for minimally invasive procedures is significantly contributing to the market growth. Furthermore, various market players are focusing on broadening the range of neuroendovascular tools available for treating certain types of aneurysms with excellent safety and efficacy, which is expected to create numerous growth opportunities in the market. Apart from this, the growing prevalence of acute ischemic stroke is catalyzing the market. Besides, the increasing investments in research and development (R&D) are strengthening the market. Additionally, the rising government initiatives to modernize healthcare infrastructure are also providing a boost to the market worldwide. On account of the factors above, the market is anticipated to reach a value of US$ 3.7 Billion by 2027, exhibiting a CAGR of 6.12% during 2022-2027.
- Based on the product, the market has been segmented into cerebral embolization and aneurysm coiling devices (embolic coils, flow diverters, and liquid embolic agents), cerebral angioplasty and stenting systems (carotid artery stents and embolic protection devices), neurothrombectomy devices (clot retrieval devices, suction devices, and vascular snares), support devices (micro catheters and micro guidewires).
- Based on the application, the market has been categorized into ischemic stroke, aneurysm, arteriovenous malformation and fistulas (AVM), stenosis, and others.
- Based on the end-user, the market has been classified into hospitals, ambulatory surgical centers, clinics, and others.
- Based on the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa.
- The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some key players include Acandis GmbH, Asahi Intecc Co. Ltd., Imperative Care Inc., Integer Holdings Corporation, Johnson & Johnson, Medtronic plc, MicroPort Scientific Corporation, Penumbra Inc., Per-flow Medical Ltd., Rapid Medical, Stryker Corporation, and Terumo Corporation.
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