The Neurovascular Devices Market is forecasted to grow from USD 2.12 Billion in 2018 to USD 3.35 Billion by 2026, at a CAGR of 5.6%, during the forecast period.

New York, NY -- (SBWire) -- 03/12/2021 --The Neurovascular Devices Market is forecasted to grow from USD 2.12 Billion in 2018 to USD 3.35 Billion by 2026, at a CAGR of 5.6%, during the forecast period. The market is primarily driven by the growing target population for patients, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and increased market demand for effective neurovascular devices. Technological advances have increased life expectancy, resulting in an increase in geriatric population as a consequence. The geriatric population (age 60 & above) is projected to increase by 57% from 902 million in 2015 to 1.41 Billion by 2030, according to a report published by the United Nations. As a result, the aging population around the globe is expected to rise to boost demand for neurovascular devices.

Neurovascular therapy technological developments, such as the development of GORE TIGRIS by W L Gore and Medtronic distal filter embolic protection device SpiderFX, are expected to serve as a high impact rendering driver. It is expected that inclination for minimally invasive surgery in brain aneurysm and stroke treatments will be the key factor that will increase market growth.

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Further key findings from the report suggest

The Neurovascular Devices Market is forecasted to grow from USD 2.12 Billion in 2018 to USD 3.35 Billion by 2026, at a CAGR of 5.6%, during the forecast period. The market is primarily driven by the growing target population for patients, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and increased market demand for effective neurovascular devices.

The market for cerebral embolization and aneurysm coiling devices is expected to grow the largest at USD 1.11 Billion in 2026, at a CAGR of 6.5% during the forecast period. Growing geriatric population and cerebrovascular disorder prevalence are likely to encourage segment development. Cerebral angiography involves using contrast colors and X-rays to monitor blood flow through the brain. Products for neurothrombectomy are used in patients who are ineligible for activator therapy for tissue plasminogen.

The market for stroke is expected to grow the largest at USD 1.91 Billion in 2026, at a CAGR of 6.1% during the forecast period. Motor impairment, which causes movement disabilities, is the most common outcome associated with stroke. The primary focus in stroke rehabilitation with the help of stents and embolization coils is the recovery of lost artery functions.

In 2018, North America dominated the market for Neurovascular devices. The market for North America is expected to reach USD 1.21 Billion in 2026, at a CAGR of 6% during the forecast period. Key factors driving this growth include a favorable reimbursement structure, particularly in the U.S., large-scale R&D investments, and wide use of neurochirurgical products supported by the availability of advanced technologies with higher efficiency and confidence.

Based on the regions, the report covers the following regions:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Competitive Terrain:

The global Neurovascular Devices market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Neurovascular Devices market are listed below:

L. Gore & Associates, Inc. (US), Terumo Corp. (Japan), Abbott Laboratories (US), Merit Medical Systems, Inc. (US), Medtronic Plc (Ireland), Penumbra, Inc. (US), Stryker Corp. (US), Johnson & Johnson (US), MicroPort Scientific Corp. (China) and others.

Type (Revenue, USD Million; 2016-2026)

Cerebral Embolization and Aneurysm Coiling

Cerebral Angioplasty and Stenting Systems

Neurothrombectomy

Support

Application (Revenue, USD Million; 2016-2026)

Cerebral Artery Stenosis

Stroke

Cerebral Aneurysm

Others

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Radical Features of the Neurovascular Devices Market Report:

Valuable insights into the Neurovascular Devices market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Neurovascular Devices industry

Table Of Contents:

Chapter 1. Market Synopsis

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2018-2026

Chapter 3. Indicative Metrics

Chapter 4. Neurovascular Devices Segmentation & Impact Analysis

4.1. Neurovascular Devices Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Market indicators analysis

4.2.2. Market drivers analysis

4.2.2.1. Increasing investment in healthcare sector

4.2.2.2. Product Development and Commercialization

4.2.2.3. Increase in Demand for Effective Neurovascular Devices

4.2.3. Market restraints analysis

4.2.3.1. Lack of Skilled Neurosurgeons

4.3. Technological Insights

4.4. Regulatory Framework

4.5. ETOP Analysis

4.6. Porter's Five Forces Analysis

4.7. Competitive Metric Space Analysis

4.8. Price trend Analysis

Continued…

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