Neurovascular Devices Market Size, Revenue, Business Growth, Development Factors, Demand and Forecast to 2028 | Grand View Research, Inc.

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According to a new report published by Grand View Research, increasing incidence of neurological disorders such as stroke, brain aneurysm, cerebral artery stenosis, are fueling the market growth.

The global neurovascular devices market size is anticipated to reach USD 4.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2021 to 2028. Increasing incidence of neurological disorders such as stroke, brain aneurysm, cerebral artery stenosis, are fueling the market growth. For instance, the Stroke Association states, more than 100,000 people suffer from stroke every year in the U.K. Thereby, the numbers reveal the high demand for neurovascular equipment, thus leading to market growth.

Decreased postoperative pain, a speedy recovery is leading to increasing adoption of minimally invasive surgeries and triggering the growth of R&D in this field. The endovascular coiling used for the treatment of intracranial aneurysm is one of the minimally invasive procedures and is widely recommended by physicians. As compared to the bare-platinum coils, HydroCoils (MicroVention, Tustin, California, USA) has enabled the treatment of more complex aneurysmal structures with lower recurrence rates. Thus, the rising demand for minimally invasive procedures is further fueling the market growth.

Patients suffering from Covid-19 have subsequently exhibited neurologic symptoms that are expected to create a favorable environment for market growth. For instance, as per the study in Lancet, 1 in 3 COVID patients who recovered have neurological and mental health disorders. The study was led by Oxford University researchers and included over 2 lakh COVID patients who recovered from the disease. Such instances will surge the demand for neurovascular equipment. Thus, COVID-19 might have a positive impact on the market in the coming years.

 

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Neurovascular Devices Market Report Highlights

The cerebral embolization and aneurysm coiling devices segment dominated the market in 2020 due to soaring incidence of cerebral artery stenosis, increase in the number of technologically advanced product launches by key players and surge in R&D
Based on therapeutic application, the stroke segment dominated the market in 2020 due to escalating prevalence of stroke globally and the launch of technologically advanced products by the market players
North America led the market with the maximum revenue share in 2020 owing to the rising prevalence of stroke and brain aneurysm, growing disposable income, and presence of major players in the region

 

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Neurovascular Devices Market Segmentation

Grand View Research has segmented the global neurovascular devices market on the basis of device, therapeutic application, and region:

Neurovascular Device Outlook (Revenue, USD Million, 2016 – 2028)

Cerebral Embolization and Aneurysm Coiling Devices
Embolic coiling
Flow Diversion Devices
Liquid Embolic agents
Cerebral Angioplasty and Stenting Systems
Carotid Artery Stents
Embolic Protection Systems
Neurothrombectomy Devices
Clot Retrieval Devices
Suction Devices
Vascular Snares
Support Devices
Micro Catheters
Micro Guidewires

 

Neurovascular Device Therapeutic Application Outlook (Revenue, USD Million, 2016 – 2028)

Stroke
Cerebral Artery Stenosis
Cerebral Aneurysm
Aneurysmal Subarachnoid Hemorrhage
Others
Others

 

Neurovascular Device Regional Outlook (Revenue, USD Million, 2016 – 2028)

North America
U.S.
Canada
Europe
U.K.
Germany
France
Italy
Spain
Asia Pacific
Japan
China
India
Australia
South Korea
Latin America
Mexico
Brazil
Argentina
Middle East & Africa (MEA)
South Africa
Saudi Arabia
UAE

 

List of Key Players of Neurovascular Devices Market

Medtronic
MicroPort Scientific Corporation
Penumbra, Inc.
Stryker Corporation
Johnson & Johnson Services, Inc.
MicroVention, Inc.
Codman Neuro

 

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