Report : Neurovascular Devices Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Product (Neurothrombectomy Devices, Aneurysm Coiling & Embolization Devices, Cerebral Balloon Angioplasty & Stenting Systems and Support Devices), Application (Cerebral Aneurysms, Ischemic Strokes, Arteriovenous Malformation & Fistulas and Other Applications); and End User (Hospitals, Ambulatory Surgical Centers and Specialized Clinics) and Geography
Aneurysm Coiling & Embolization Devices Segment Held the Major Share Among the Product Segment in The Neurovascular Devices Market During 2020-2027
According to The Insight Partners market research study titled ‘Neurovascular Devices Market to 2027 – Global Analysis and Forecasts by Product, Application, End User and Geography, the global neurovascular devices market is expected to reach US$ 3,703.77 Mn in 2027 from US$ 2,744.26 Mn in 2019. The market is estimated to grow with a CAGR of 3.9% from 2019-2027. The report highlights the trends prevalent in the global neurovascular devices market and the factors driving the market along with challenges to its growth.
Global neurovascular devices market was segmented by product, application and end user. On the basis of the product the market is segmented as neurothrombectomy devices, aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems and support devices. Based on the application the market is segmented into cerebral aneurysms, ischemic strokes, arteriovenous malformation & fistulas and other applications. The end user segment is classified into hospitals, ambulatory surgical centers and specialized clinics.
The market for neurovascular devices is expected to grow significantly due to factors such as increasing incidences of neurovascular diseases, rising demand for minimally invasive procedures, and significantly growing aging population. However, factor such as high cost of embolization coils and lack of expert professionals are the major restraining factors for the growth of the market. COVID19 has impacted the neurovascular devices market. In many countries situation such as lockdown has led the patient to opt for rescheduling the neuro surgeries which has significantly contributed in the market disruption
The major players operating in the neurovascular devices market include, Medtronic plc, Stryker Corporation., Johnson & Johnson Services, Inc., Acandis GmbH & Co. KG., MicroPort Scientific Corporation, Terumo Corporation, Penumbra, Inc., phenox GmbH, Integer Holdings Corporation, and Memry Corporation. The companies have carried out various organic and inorganic growth strategies in the market which has assisted in strengthening their product offering in the market.
The report segments the global neurovascular devices market as follows:
Global Neurovascular Devices Market – By End User
Global Neurovascular devices Market – By Geography