London, UK -- (SBWIRE) -- 09/28/2015 -- Neurointerventional refers to the special minimally invasive processes that are to diagnose and treat vascular syndromes of the spine and brain. With the help of innovative imaging for supervision, neurointerventionalists use microcatheters to treat the composite disorders. Normally, these disorders are cured either by closing or opening the abnormal vessels. The neurointerventional actions can be achieved through diverse procedures such as aneurysm coiling procedure, cerebral angiography & stenting procedure, neurothrombectomy procedure and others. All of these procedures are mutually exclusive and are useful for certain clinical symptoms of neurological syndromes. The global market for neurointerventional devices is estimated to be approximately US$ 1,560 Mn in 2013, and is anticipated to grow at a significant CAGR of 6.5% from 2015 to 2020.

Neurointerventional Devices Market: Drivers & Restraints

The upsurge in the number of patients for hemorrhagic and ischemic stroke coupled with increasing request for minimally invasive medical procedures is one of the major driver that is slated to drive the neurointerventional devices market globally. Factors such as growing ageing, obese population and technological development are expected to further drive the market growth. Moreover, growing GDP and healthcare provision are transforming the developing countries in Latin America and Asia Pacific to adapt to novel medical practices for attaining better treatment outcomes. Also the forthcoming clinical trial data is supporting the interventional procedure over the neurosurgery as it compromises minimal damage to the surrounding healthy tissues, fewer chances of contamination, minimum surgical suffering and lesser surgical burns. The major challenge in the global neurointerventional devices market is that the devices manufactures need to improve effective treatments that ensure the long-term results and intensifies the patient's safety. Neurovascular interventions using revascularization, embolization and mechanical thrombectomy devices can decrease the risk of complications, such as thromboembolism & hemorrhage, and henceforth improve the outcomes. The opportunities that can be further explored in the global neurointerventional devices market is that it would greatly benefit from the multispecialty and multinational associations to develop procedures on effective treatment practices and strategies for various cerebrovascular symptoms.

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Neurointerventional Devices Market: Segmentation

On the basis of devices, the global neurointerventional devices market is segmented into:

Neurothrombectomy devices
Snare device
Clot retriever
Suction/aspiration device
Aneurysm coiling devices
Liquid embolic agent
Platinum coil
Flow diversion device
Cerebral angiography & stenting system
Embolic protection systems
Carotid stent
Support devices
Microguidewire
Microcatheter

All of these segments are likely to experience an optimistic growth in the years to come. Currently, aneurysm coiling devices segment accounts for approximately 60% in terms of value towards the global neurointerventional devices market, followed by cerebral angiography & stenting techniques, which contributes around 16%. Both these segment are likely to witness the maximum growth because of the upsurge in patient pool and procedure statistics of aneurysm coiling and arteriovenous malformation embolization.

Neurointerventional Devices Market: Region-wise Outlook

On the basis of region, North America dominates the global neurointerventional devices market. However, developing regions such as Latin America and Asia Pacific (primarily China and India) are expected to grow at a fast pace over the forecasted period. The growing GDP coupled with the purchasing competence of healthcare organizations, fast disease progression, expanding private healthcare sector and increasing awareness among consumers in these regions is expected to drive the market for neurointerventional devices. The high dominance in Asia Pacific is because of the concentrated aging population in this region whereas in North America and Europe it is because of the high diabetes and obese population.

Neurointerventional Devices Market: Key Players

Some of the key participants identified in the global neurointerventional market are Covidien, PLC, Stryker, Johnson & Johnson Private Limited, Penumbra, Inc., TERUMO CORPORATION and BALT EXTRUSION, among many others.

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The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology and applications.

The report covers exhaustive analysis on:

Market Segments
Market Dynamics
Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies involved

Regional analysis includes

North America (U.S., Canada)
Latin America (Mexico. Brazil)
Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Japan
Middle East and Africa (GCC, S. Africa, N. Africa)