The Neurovascular Devices Market was valued at $2.08Million in 2018 and is forecast to grow at a modest5.5 % CAGR between2018 and 2025, culminating in 2026 global sales of $3.8Billion.
Neurovascular devices help in the treatment of several neurovascular disorders like intracranial atherosclerotic and cerebral aneurysm disease. The upsurge in the geriatric population and increase in a number of patients suffering from neurovascular disorders are anticipated to drive the market growth. Additionally, growth in acceptance of new minimally invasive techniques, for example, carotid artery stenting,and flow diversion lift the market growth. So, the high cost of the medical devices and lack of neurosurgeons are projected to boost the market growth. According to WHO there are 800,000 people are suffering from strokes which are the fourth leading mortality factor in the U.S. in between them 76% people are having 65 ages and over is anticipated to grow by 59% from 800 million people in 2018 to 1.8 billion by 2028. Governing policies about medical devices fluctuate in different countries. To confirm maximum availability and safe procedure of medical devices, the union of guidelines for these devices is important. In Minimally invasive surgery helps to the patients as well as less blood loss, decrease pain, and cost-effectiveness will upsurge acceptance of neurovascular surgeries and the market growth. Some Major companies concentrating on new product launches by implementing innovative technologies to acquire market profits with better disease treatment.
“Optimal Price Point (OPP) for Global Neurovascular Devices”
Estimated Average product/ service cost – $ xx globally. However, with improving access and availability of options, OPP and range of acceptable Prices (RAP) are going to change. We at Ameri Research continuously track these prices with our proprietary pricing model.
Due to the wide array of products available in the market, pricing, positioning, and sales channel optimization play a vital role in the success of a product. On average, in the China Global Neurovascular Devices are available at USD xxx- USD xxxx. However, high-end products are available at much higher prices. The prices in emerging countries and developed countries vary significantly due to the difference in purchasing power and availability of latest products.
Global Neurovascular DevicesMarket by “Application”
We have segmented the Global Neurovascular Devices based on Application as Stroke, Cerebral Artery Stenosis, and Cerebral Aneurysm.
We have observed that the rapid growth of Neurovascular Devices followed by Strokes Segment with 48%of the market shares over the forecast period. Due to the increase of motor impairment, people lost their function of arteries. There are 16 million people were affected by stroke per year which is expected to propel the neurovascular devices due to swift product revolutions by several companies in the upcoming years.
We also noticed that the significant growth of Neurovascular Devices followed by cerebral Aneurysm with a CAGR of 6.2% market share in 2018. Basically, 5% of people are suffering from this disease which may cause brain damage.
Global Neurovascular Devices Market by “Device Type”
We have segmented the Global Neurovascular Devices based on Device Type as Cerebral embolization and aneurysm coiling devices, Cerebral angioplasty and stenting systems, Neurothrombectomy devices, and Support devices.
We have observed that the rapid growth of Neurovascular Devices followed by Cerebral embolization and aneurysm coiling devices with 39% of the total revenue share over the forecast period. Due to the geriatric population and the occurrence of cerebrovascular disorders will help to develop this segment. Neurothrombectomy products are mainly used for patients who are unable for tissue plasminogen. These medical devices regain or destroy blood clots in the aneurysms by mechanical ultrasound techniques or lasers.
The Asia Pacific and North America accounted for the maximum revenue share of over xx% in 2018 due to increased demand of Global Neurovascular Device followed by EU- Top 5 countries contribute $X.6 Billion in 2018 and expected to reach $x.5 Billion by 2026.
The rapid growth strokes and the availability of Global Neurovascular Devices materials option create an impact in developing countries for the demand for better health care device. China market will spectator health market growth at 4.9% CAGR during the forecast period. The growing burden of the aging population in China, that enhance the risk of stroke, aneurysm, and stenosis, drive the demand for neurovascular devices. According to Population and Migration data, the geriatric population in China is estimated to reach 2,387,792 by 2026. Furthermore, increasing R&D activities on neurovascular devices can support Chinese neurovascular devices market growth in the coming years. North America accounted for the largest market share of the total market in 2018. According to BAF(Brain Aneurysm Foundation), there are 6 million Americans suffer from an unruptured brain aneurysm. So, sophisticated healthcare infrastructure and advanced technology will propel the U.S. market over the forecast period.
“Competitive Landscape”and “Merger& Acquisition Insights”
The key market participants bbott Laboratories, W. L. Gore & Associates, Inc., Johnson & Johnson, Medtronic PLC, Merit Medical Systems, Inc., MicroPort Scientific Corporation, Penumbra, Inc., Stryker Corp.,and Terumo Medical Corporation are few major players in Global Neurovascular Devices markets. TheGlobal Neurovascular Devices marketis fragmented with a large number of global & local players. Merger &Acquisitions, collaborations & new products launch are some of the major strategies adopted by key market players. Apart from this innovation& new product development are a major focus area for dominant companies.
Global Neurovascular DevicesMarket byApplication(Revenue, Million, 2018 – 2026)
- Cerebral Artery Stenosis
- Cerebral Aneurysm
Global Neurovascular Devices Market by Device Type (Revenue, Million, 2018 – 2026)
- Cerebral embolization and aneurysm coiling devices
- Cerebral angioplasty and stenting systems
- Neurothrombectomy devices
- Support devices
Global Neurovascular Devices Market Regional Outlook (Revenue, USD Million, 2018-2026)
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- South Africa
- Saudi Arabia
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