According to a new report published by Allied Market Research, titled, โNeurovascular Devices Market: Global Opportunity Analysis and Industry Forecast, 2021-2030โ the neurovascular devices market accounted for $2,935 million in 2019, and is expected to reach $3,712 million by 2027, registering a CAGR of 5.2% from 2020 to 2027. Neurovascular devices are used in the treatment of neurovascular disorders. For example, neurovascular devices include clips, coils, and stents, which are used to treat neurovascular disorders such as cerebral artery disease. Similarly, clot recovery equipment, suction and aspiration equipment are used to remove blood clots in the arteries and blood vessels of the brain, which can lead to life-threatening conditions such as stroke.
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COVID-19 Impact Analysis:
COVID-19 pandemic has also affected the market adversely. For instance, after COVID-19 was declared as a pandemic by the WHO, countries worldwide adopted nationwide lockdowns to observe social distancing as a measure to contain the spread. This led to disruption, limitation, challenges, and changes in each sector of every industry. Similarly, the neurovascular devices industry was also impacted by the pandemic. For instance, neurovascular devices are used in surgical operations. Thus, limited availability of medical care for conditions other than COVID-19 around the world has impacted the neurovascular market in a negative manner.
Factors such as the increase in technological advances related to neurovascular devices also drive the growth of the market for neurovascular devices. However, the high cost of neurovascular equipment and the shortage of qualified neurosurgeons to handle these devices hinder the growth of the market. In contrast, the high growth rate displayed by developing nations provides beneficial opportunities for players operating in the neurovascular devices market.
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North America has a large share in the neurovascular devices market and this trend is expected to continue due to the presence of a large number of major players working in the neurovascular devices market. Some of the major players operating in the region include Striker Corporation, Penumbra, Inc., Johnson & Johnson and Merit Medical Systems, Inc. Thus, the presence of major players in the region leads to easy availability of neurovascular equipment. Furthermore, other factors such as the increase in the prevalence of neurovascular disorders is another major factor that drives the growth of the market for neurovascular devices in this region.
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- This report entails a detailed quantitative analysis along with the current global neurovascular devices market trends from 2019 to 2027 to identify the prevailing opportunities along with the strategic assessment.
- The neurovascular devices market forecast is studied from 2020 to 2027.
- The neurovascular devices market size and estimations are based on a comprehensive analysis of key developments in the industry.
- A qualitative analysis based on innovative products facilitates strategic business planning.
- The development strategies adopted by the key market players are enlisted to understand the competitive scenario of the market.
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๐๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐ฅ๐๐ฒ๐๐ซ๐ฌ:
The global neurovascular devices market is highly competitive and the prominent players in the market have adopted various strategies to garner maximum neurovascular devices market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Medtronic Plc, Stryker Corporation, Penumbra, Inc., Johnson & Johnson, Terumo Corporation, Merit Medical Systems, Inc.., Integer Holdings Corporation, Acandis GmbH., W. L. Gore & Associates, Inc., and Microport Scientific Corporation.
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Human Growth Hormone (hGH) Market
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