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.
Allied Market Research has published a study report with the title Neurovascular Devices Market Size was Valued at USD 2.9 billion in 2019 and is Projected to Garner USD 3.7 billion by 2027 registering a CAGR of 5.2% from 2020 to 2027.
Covid-19 scenario-
- The pandemic has led to delays in several elective surgical procedures, impacting the global neurovascular devices market negatively.
- Also, any surgical process requires certain amount of preparation and arrangement to draw up a plan for the surgery. The outbreak of covid-19 has created an overall unprecedented situation, thereby affecting the global market to a significant extent.
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Top Companies of Neurovascular Devices: –
- Merit medical systems, Inc.
- Penumbra, Inc.
- Stryker Corporation
- Johnson & Johnson
- Merit medical systems, Inc.
Neurovascular Devices Market Segmentation: –
Based on product, the embolization devices segment accounted for more than two-fifths of the global neurovascular devices market revenue in 2019 and is expected to rule the roost by the end of 2027, due to rise in the incidence of neurovascular diseases, which require use of embolization devices. The revascularization devices segment, on the other hand, would register the fastest CAGR of 6.9% throughout the forecast period. Rise in prevalence of cerebral stenosis and brain aneurysm fuels the segment growth.
Based on disease pathology, the aneurysm segment contributed to nearly half of the global neurovascular devices market share in 2019 and is anticipated to lead the trail by 2027. This is due to surge in prevalence of this medical condition and rise in launch of new devices used in the treatment of aneurysm. At the same time, the ischemic stroke segment would portray the fastest CAGR of 7.4% till 2027, owing to surge in prevalence of ischemic stroke.
Based on geography, North America garnered the highest share in 2019, generating more than one-third of the global neurovascular devices market. This is due to easy availability of neurovascular devices and rise in geriatric population in the region. Simultaneously, Asia-Pacific would manifest the fastest CAGR of 7.1% during the study period, owing to factors such as surge in adoption of neurovascular devices and rise in healthcare expenditure among individuals.
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Our Market Research Solution Provides You Answer to Below Mentioned Question:
- Which are the driving factors responsible for the growth of market?
- Which are the roadblock factors of this market?
- What are the new opportunities, by which market will grow in coming years?
- What are the trends of this market?
- Which are main factors responsible for new product launch?
- How big is the global & regional market in terms of revenue, sales and production?
- How far will the market grow in forecast period in terms of revenue, sales and production?
- Which region is dominating the global market and what are the market shares of each region in the overall market in 2022?
- How will each segment grow over the forecast period and how much revenue will these segments account for in 2028?
- Which region has more opportunities?
By Region Outlook
North America
⦁ U.S.
⦁ Canada
⦁ Mexico
Europe
⦁ UK
⦁ Germany
⦁ France
⦁ Italy
⦁ Russia
⦁ Rest of Europe
Asia-Pacific
⦁ China
⦁ Japan
⦁ India
⦁ Australia
⦁ Rest of Asia-Pacific
LAMEA
⦁ Brazil
⦁ UAE
⦁ Turkey
⦁ Saudi Arabia
⦁ Rest of LAMEA
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