Rise in prevalence of neurovascular diseases, increase in geriatric population across the U.S., technological advancements associated with neurovascular devices, and surge in incidence of underlying disease conditions drive the growth of the U.S. Neurovascular Devices market. On the other hand, higher prices of neurovascular devices restrain the market growth. However, increase in demand for minimally invasive procedures in U.S. offers novel opportunities to the market players in the coming years.
According to the report published by Allied Market Research, the the U.S. Neurovascular Devices Market was pegged at $946.15 million in 2019, and is expected to garner $1.07 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Surge in geriatric population across the globe, increase in prevalence of neurovascular diseases, and technological advancements related to neurovascular devices fuel the growth of the global neurovascular devices market. On the other hand, high cost of neurovascular devices and lack of expert neurosurgeons across the globe impede the growth to some extent. Nevertheless, several opportunities in emerging markets have proven to be beneficial for the key players in the industry.
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- Limited availability of medical care for situation other than covid-19 and healthcare staff in the country during the initial phase of covid-19 has interrupted the growth of the neurovascular market.
- The nationwide lockdown and government regulations, and continuous rise in infection rate in the country created a widespread financial impact on the neurology hospitals and clinics.
- A variety of hospitals and clinics have witnessed a decline in number of patient visits during COVID-19, thereby decreasing client contacts. Furthermore, many neurovascular treatments have been delayed due to the Covid-19 crisis.
Onkar Sumant, a Manager, Healthcare at Allied Market Research, stated, “growth of the U.S. neurovascular devices market is attributed to rise in prevalence of neurovascular disease across the U.S. Furthermore, technological advancements related to neurovascular devices, and increase in geriatric population are the other factors that contribute to the growth of the market.”
neurovascular devices market in 2019, owing to surge in prevalence of the aneurysm, increase in demand for minimally invasive neurosurgical procedures, government initiatives to modernize healthcare infrastructure, technological advancement in neurovascular treatments, and increase in product approvals of new devices used in the treatment of aneurysm drive the growth of this segment.
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The leading market players in the report include B. Braun Melsungen AG, Integer Holdings Corporation, Johnson & Johnson (Cerenovus), Medtronic Plc., Merit Medical Systems, Inc., Microport Scientific Corporation, Penumbra, Inc., SAES Getters SpA (Memry Corporation), Stryker Corporation, Terumo Corporation (Microvention, Inc.).
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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