The Asia Pacific neurovascular devices market is expected to reach US$ 946.48 Mn in 2027 from US$ 664.86 Mn in 2019. The market is estimated to grow with a CAGR of 4.6% from 2020-2027.
Key factors that are driving growth of the Asia Pacific Neurovascular Devices market are Increasing Incidences of neurovascular diseases, rising demand for minimally invasive procedures, and significantly growing aging population. However, the market is expected to grow at slower pace owing to the factors such as high cost of embolization coils and lack of expert professionals operating neurovascular disorders.
Neurovascular devices are used for the treatment of neurovascular diseases that possibly affects the network of blood vessels that surround the brain. This leads to incurable conditions such as strokes and aneurysms. Neurovascular devices are used to prevent stroke, aneurysm embolization, carotid stenosis and other symptoms. Neurovascular devices are also used for performing surgical procedures to treat aneurysms and other cranial blood flow problems. The prevalence of cerebral aneurysms has increased tremendously across the globe. According to statistics published by Medanta, every year in India, around 76,000 to 200,000 cases of cerebral aneurysms are reported to have occurred. A brain aneurysm ruptures every 18 minutes. Thus, it is estimated that the rising prevalence of cerebral aneurysms is likely to fuel the growth of the market during the forecast period.
Additionally, several recent advances, such as favourable reimbursement policies, minimally invasive therapeutic modalities, and ongoing product development and commercialization, will drive market growth.
Moreover, COVID-19 pandemic has affected the market adversely. For instance, the limited availability of medical care for conditions other than COVID-19 around the world has negatively impacted the neurovascular market. Furthermore, the limited availability of healthcare staff across the globe will hamper the neurovascular devices market's growth.
Asia Pacific Neurovascular Devices Market Revenue and Forecast to 2027 (US$ Mn)
ASIA PACIFIC NEUROVASCULAR DEVICES MARKET SEGMENTATION
By Product
- Neurothrombectomy Devices
- Clot Retrieval Devices
- Suction & Aspiration Devices
- Snares
- Aneurysm Coiling & Embolization Devices
- Embolic Coils
- Bare Detachable Coils
- Coated Detachable Coils
- Flow Diversion Devices
- Liquid Embolic Agents
- Embolic Coils
- Cerebral Balloon Angioplasty & Stenting Systems
- Carotid Artery Stents
- Embolic Protection Systems
- Balloon Occlusion Devices
- Distal Fillers
- Support Devices
- Microcatheters
- Microguidewires
By Application
- Cerebral Aneurysms
- Arteriovenous Malformation & Fistulas
- Other Applications
By End User
- Hospitals
- Ambulatory Surgical Centers
- Specialized Clinics
By Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
Company Profiles
- Medtronic plc
- Johnson and Johnson, Inc (DePuy Synthes)
- Penumbra, Inc
- Terumo Corporation
- MicroPort Scientific Corporation
- Integer Holdings Corporation
- Memry Corporation
- Phenox GmbH
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Product, Application, End User
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, China, Japan, South Korea
The List of Companies - Asia Pacific Neurovascular Devices Market
- Medtronic plc
- Johnson and Johnson, Inc (DePuy Synthes)
- Penumbra, Inc
- Terumo Corporation
- MicroPort Scientific Corporation
- Integer Holdings Corporation
- Memry Corporation
- Phenox GmbH
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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