Publication Month: May 2019 | Report Code: TIPRE00003497 | No. of Pages: 186 | Category: Medical Device | Status: Published
Interventional neuroradiology is a medical sub-specialty that utilizes minimally-invasive image based technologies and procedures for the diagnosis and treatment of various diseases of head, neck and spine. The interventional neuroradiology therapies are accomplished majorly with the help of microcatheters inserted in the groin area and, under X-ray guidance, threaded through the blood vessels leading into the brain. The growth of the global interventional neuroradiology market is attributed to the progressive aging population, increasing demand for minimally invasive procedures and rise in the prevalence of the cerebral aneurysm. However, high cost of embolization coils and dearth of skilled professionals are the major factor hindering the market growth.
The global interventional neuroradiology market is expected to witness substantial growth post-pandemic. The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide. However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected to witness more vertical integration and joint ventures in coming years.
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Neurological diseases are the disorders of the brain, spine and the nerves that connect them. There are more than 600 diseases of the nervous system, such as brain tumors, epilepsy, Parkinson's disease and stroke as well as less familiar ones such as front temporal dementia. During recent years, the prevalence of neurological disorders have increased significantly.
A cerebral aneurysm (also called an intracranial aneurysm or brain aneurysm) is a bulging, weakened area in the wall of an artery in the brain, resulting in an abnormal widening, ballooning, or bleb. Because there is a weakened spot in the aneurysm wall, there is a risk for rupture (bursting) of the aneurysm. The most common type of cerebral aneurysm is called a saccular, or berry, aneurysm, occurring in 90 percent of cerebral aneurysms. This type of aneurysm looks like a "berry" with a narrow stem. More than one aneurysm may be present. Two other types of cerebral aneurysms are fusiform and dissecting aneurysms. A fusiform aneurysm bulges out on all sides (circumferentially), forming a dilated artery. Fusiform aneurysms are often associated with atherosclerosis.
Currently, the cause of cerebral aneurysms is not clearly understood. However, brain aneurysms are associated with several causative factors, such as smoking, hypertension, and family history. The most common cause of a brain aneurysm is an abnormal degenerative change in the wall of an artery, and the effects of pressure from the pulsations of blood being pumped forward through the arteries in the brain.
The prevalence of cerebral aneurysms has increased tremendously across the globe. Approximately, 30,000 people in the United States suffer from brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. The annual rate of rupture in the United States is found to be around 8 – 10 per 100,000 people. Hence, the rising prevalence of cerebral aneurysms is anticipated to fuel the growth of the market during the forecast period.
In terms of product, the global interventional neuroradiology market is segmented into neurovascular embolization & coiling assist devices and accessories. In 2018, the neurovascular embolization & coiling assist devices segment held largest share of the market. Also, the same segment is estimated to register the highest CAGR during the forecast period.
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Based on disease, the global interventional neuroradiology market is segmented into cerebral aneurysms, intra-cranial tumors, acute strokes, and other diseases. The acute strokes segment held the largest market share in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.
In terms of end user, the global interventional neuroradiology market is segmented into hospitals, ambulatory surgical centers and other end users. The hospitals segment held the largest share of the market in 2018. Also, the same segment is estimated to grow at the highest CAGR during the forecast period.
|Market Size Value in||US$ 1,969.39 Million in 2018|
|Market Size Value by||US$ 3,254.55 Million by 2027|
|Growth rate||CAGR of 5.9% from 2019-2027|
|No. of Pages||186|
|No. of Tables||121|
|No. of Charts & Figures||67|
|Historical data available||Yes|
|Segments covered||Product ; Disease ; End User and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
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The global interventional neuroradiology market players are adopting the product launch and expansion strategies to cater to changing customer demands worldwide, which also allows them to maintain their brand name globally.
The List of Companies