Balt Extrusion, Medtronic and Stryker– Notable Market Participants in Interventional Neuroradiology Industry
The interventional neuroradiology market is highly competitive in nature with considerable number of players, having a high level of consolidation overall revenue share. Most of the companies operating in the interventional neuroradiology market are present globally and have wide distribution and sales network through partnerships or authorized dealers.
The most notable interventional neuroradiology market participants are Balt Extrusion, Merit Medical Systems, Terumo Corporation, Medtronic, Penumbra, Inc., Stryker, DePuy Synthes, Boston Scientific Corporation, W. L. Gore & Associates, and MicroPort Scientific Corporation occupying a considerable share of the market owing to their offerings to the market.
Interventional neuroradiology market leaders are involved in product approvals for the new devices with better efficiency and treatment outcomes. For instance, in March 2018, Balt USA, subsidiary of Balt Extrusion, received 510 (k) approval for the Optima Coil System in the US. The approval of the Optima Coil System makes it the first Balt USA product to be developed and approved for use in the US.
Many well-known as well as small local companies are present in the market to provide diversified products to its customers. The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. Additionally various companies are also undergoing other strategic alliances such as acquisitions and others to garner their significance and remain competitive in the market. Few on the important key developments from the industry are mentioned below:
|2019||MicroVention, Inc., received the FDA Premarket Approval (PMA) for the WEB Aneurysm Embolization System for the treatment of intracranial wide neck bifurcation aneurysms. The WEB System is a unique, single-device treatment solution for wide neck bifurcation aneurysms, which may account for up to 35% of all aneurysms.||North America|
|2017||Medtronic received CE (Conformité Européenne) Mark for the world’s smallest fully implantable spinal cord stimulator. The neurostimulators is placed under patient’s skin in order to deliver mild electrical impulses through a lead implanted in the epidural space, which act to block pain signals from going to the brain.||Europe|
|2016||Merit Medical Systems, Inc. received 510(k) clearance for the SwiftNINJA Steerable Microcatheter. The clearance aims to offer peripheral and coronary applications. With the exception of Japan, Merit has global distribution rights for the SwiftNINJA.||North America|