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(Health-NewsWire.Net, October 09, 2020 ) The global Neurovascular Devices Market is expected to reach USD 2.62 Billion by 2021 at a CAGR of 8.6% during 2016 to 2021.
Targeted Audience in the Study:
# Original Equipment Manufacturers (OEMs)
# Product Sales and Distribution Companies
# Healthcare Service Providers (Hospitals and Surgical Centers)
# Non-government Organizations
# Government Regulatory Authorities
# Research Laboratories and Academic Institutes
# Clinical Research Organizations (CROs)
# Research and Development Companies
# Market Research and Consulting Firms
Major factors driving the growth of this market include growing target patient population, ongoing product development & commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and growing market demand for effective neurovascular devices.
Moreover, increasing number of researches in the field of neurovascular therapies, rising demand for minimally invasive neurosurgical procedures, and increasing awareness among neurosurgeons about minimally invasive surgical procedures provide significant growth opportunities in the market. However, stringent regulatory scenario and dearth of skilled neurosurgeons may hinder the growth of this market during the forecast period.
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Following are the Major Objectives of this Study:
# To define, describe, and forecast the global neurovascular devices market on the basis of product, disease pathology, and region.
# To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities).
# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market.
# To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players.
# To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
# To strategically profile the key market players and comprehensively analyze their market shares and core competencies.
# To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the neurovascular devices/interventional neurology devices market.
On the basis of products, the Neurovascular Devices Market is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, support devices, and neurothrombectomy devices. The cerebral balloon angioplasty & stenting systems segment is expected to witness highest market growth during the forecast period. The market growth is being driven by growing availability of technologically advanced carotid artery stents across major markets, rising public-private research funding to develop innovative products, growing adoption of carotid stents and balloons among neurosurgeons, and expansion in patient population suffering from atherosclerosis and ischemic stroke.
Geographical Growth Scenario:
On the basis of geography, Neurovascular Devices Market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is the fastest-growing geographic segment in the neurovascular devices/interventional neurology market. The large market growth of this geographic segment can be attributed to the presence of a large patient population base for target diseases, rising awareness among neurosurgeons related to the benefits offered by interventional neurology devices, and ongoing government initiatives to modernize & expand healthcare infrastructure.
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As of 2015, Stryker Corporation (U.S.), Medtronic plc (U.S.), Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc. (U.S.), Abbott Laboratories (U.S.), Merit Medical Systems, Inc. (U.S.), W. L. Gore & Associates, Inc. (U.S.), and MicroPort Scientific Corporation (China) are some of the key players operating in the global market.
The key players in the Neurovascular Devices Market focused on various strategies such as product launches & enhancements; agreements and collaborations; strategic acquisitions; and expansions to increase market shares in the global market. Product launches & enhancements were the key strategies adopted by major industry players to achieve the desired market growth during 2013-2016.
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raviraj.tak@marketsandmarkets.com
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