Neurovascular Devices/Interventional Neurology Market Progresses for Huge Profits During 2021 - 2031 | Terumo Corporation (Japan), Penumbra, Inc. (US), MicroPort Scientific Corporation

The global Neurovascular Devices/Interventional Neurology Market was valued at USD 2.9 billion in 2021 and it is anticipated to grow up to USD 5.4 billion by 2031, at a CAGR of 6.5% during the forecast period.

New York, According to a new market research report published by Global Insight Services Neurovascular Devices/Interventional Neurology Market is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

Neurovascular devices are used to treat neurological disorders. These include coils, stents, and clips that are used to treat neurovascular disorders such as brain aneurysm. These devices are widely used in the treatment and diagnosis of various types of peripheral and central nervous system disorders and ailments. Various neurovascular illnesses, such as cerebral aneurysms and intracranial atherosclerotic disease, are treated with neurovascular implants.

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Market Trends and Drivers

A rise in the number of neurovascular disorders in the developed countries is expected to boost market growth. An increase in the prevalence of neurological and cerebrovascular conditions such brain aneurysms and ischemic strokes will have a positive impact on market demand. Additionally, the rapidly growing aging population and large population base suffering from ischemic stroke is another major factor driving the market statistics. Another major factor such as rapidly ageing population and large population base suffering from ischemic stroke will drive the industry growth. For instance, according to the American Association of Neurological Surgeons, approximately 700,000 people suffer from stroke each year, with approximately 500,000 of these being first attacks and 200,000 being victims of repeated attacks. Almost a quarter of people who recover from their first stroke will have another within five years. Such a scenario is expected to drive demand for neurovascular devices in the United States.

An ischemic stroke occurs when the blood supply to a part of the brain is cut off. A blood clot that becomes lodged in a narrow blood vessel usually causes the block. The loss of body functions controlled by that area of the brain is caused by the blood clot. To avoid such situations, neurosurgeons employ a variety of neurovascular devices, such as the neurovascular thrombectomy device. This device is useful for removing blood clots that have formed in the neurovascular vessels during an acute ischemic stroke. Such scenarios will drive market trends.

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Market Restraints and Challenges

Stringent government regulations for medical device approval may hinders the market progression. Several key neurovascular device manufacturers such as Stryker and Medtronic Plc. have been successful in the development and subsequent commercialization of their respective products during the last decade. These products were primarily intended for interventional use during neurovascular surgeries. However, across the mature markets (particularly in the US), the developmental pipeline for interventional neurology products is affected mainly by pricing pressure faced by the key product manufacturers as a result of unsupportive government reforms undertaken in the last three years. Some of these unsupportive government regulations and reforms include the Patient Protection and Affordable Care Act that was suspended for a two-year period commencing January 1, 2018, got reinstated in 2020. The law imposes a 2.3% excise tax on the sale in the US of certain medical devices by a manufacturer, producer, or importer. Regulatory laws in the US require substantial scientific evidence for clinical trials conducted on human subjects to confirm the safety, efficacy, & risk profile of specific medical devices intended for a particular therapeutic application including for neurovascular intervention.

Global Neurovascular Devices/Interventional Neurology Market Segmental Overview

The report analyses the global Neurovascular Devices/Interventional Neurology Market based on product, process, therapeutic application, end-use, and region.

Global Neurovascular Devices/Interventional Neurology Market by Product

Based on the product, the neurovascular devices market is categorized into embolic protection devices, embolic coils, intracranial stents, intrasaccular devices, catheters, carotid stents, flow diverters, neurothrombectomy devices, balloon systems, stent retrievers, guidewires, and others. Out of these, embolic coils segment accounted for largest market share in 2021 due to the rising prevalence of brain aneurysms and ischemic stroke in developed countries Furthermore, an increase in demand for minimally invasive procedures such as coil embolization will drive future demand for embolic coils. Moreover, in adults who are at high or prohibitive surgical risk, embolization coils and occlusion devices are also used to successfully eliminate the residual central aorta to pulmonary artery. Embolic coiling can also be used to treat a condition known as arteriovenous malformation (AVM). AVMs are abnormal connections between arteries and veins. It can occur in the brain, spinal cord, or anywhere else in the body. As a result, increasing the use of embolic coils will benefit the industry's growth.

Major Players in the Global Neurovascular Devices/Interventional Neurology Market

The key players in the market Johnson & Johnson (US)Medtronic PLC, Stryker Corporation (US), Terumo Corporation (Japan), , Penumbra, Inc. (US), MicroPort Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation, BALT (France), Perflow Medical, and Phenox GmbH (Germany), among others.

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Reasons to buy Neurovascular Devices/Interventional Neurology Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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