Neurovascular Devices Market Advanced Technologies and Growth Opportunities Worldwide By 2027

Neurovascular Devices Market Growth & Trends

The global neurovascular devices market size is anticipated to reach USD 3.9 billion by 2027, registering a CAGR of 5.6% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for minimally invasive procedures, increasing incidence of neurological disorders, and introduction of technologically advanced products are driving the growth of neurovascular devices.

Increasing incidence of neurological conditions such as stroke and brain aneurysm, cerebral artery stenosis, and stroke are fueling the market growth. For instance, according to the Stroke Association, more than 100,000 people suffer from stroke every year in U.K. and stroke costs are up to USD 33.7 billion per year.

Decreased postoperative pain and speedy recovery are leading to increasing adoption of minimally invasive surgeries and triggering growth of R&D in this field. Several key players are investing in R&D for the launch of innovative minimally invasive surgical instruments, especially got the neurovascular diseases. The endovascular coiling used for the treatment of intracranial aneurysm is one of the minimally invasive procedures widely recommended by the physicians.

Furthermore, increasing number of technologically advanced product launches by the key market players are also contributing to the market growth. For instance, in January 2018, CERENOVUS, launched Galaxy G3 mini coil, the softest and smallest embolic finishing coil used in the treatment of hemorrhagic stroke and intracranial aneurysm.

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Neurovascular Devices Market Report Highlights

• The cerebral embolization and aneurysm coiling devices segment dominated the neurovascular devices market in 2019 owing to increasing demand for minimally invasive procedures and rising incidence of cerebral artery stenosis
• Based on therapeutic application, the stroke segment dominated the market in 2019 owing to increasing prevalence of stroke worldwide, awareness initiatives by various government and non-government organizations, and introduction of technologically advanced products
• North America dominated the market with the highest revenue share in 2019 owing to increasing prevalence of stroke and brain aneurysm, increasing disposable income, and presence of key players in the region
• Some of the major players operating in the market are Medtronic; Microport Scientific Corporation; Penumbra, Inc.; Stryker; Johnson and Johnson Services Inc.; Microvention Inc.; and Codman Neuro

Neurovascular Devices Market Segmentation

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

Neurovascular Devices Outlook (Revenue, USD Million, 2016 - 2027)

• Cerebral Embolization and Aneurysm Coiling Devices
  • Embolic Coils
  • Flow Diverters
  • Liquid Embolic Agents
• Cerebral Angioplasty and Stenting Systems
  • Carotid Artery Stents
  • Embolic Protection
• Neurothrombectomy Devices
  • Clot Retrieval
  • Suction
  • Vascular Snares
• Support Devices
  • Micro Catheters
  • Micro Guidewires

Neurovascular Devices Therapeutic Application Outlook (Revenue, USD Million, 2016 - 2027)

• Stroke
• Cerebral Artery Stenosis
• Cerebral Aneurysm
• Others

Neurovascular Devices Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America
  • US.
  • Canada
• Europe
  • UK.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Mexico
  • Brazil
  • Argentina
  • Colombia
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • UAE

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.