Neurovascular Devices Market to Grow at a CAGR of 3.2% to reach US$ 3,871.20 Million from 2020 to 2027

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)

Publication Month : Oct 2020

  • Report Code : TIPHE100000781
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 234
Inquire Before Buy

PRICING

$4550

$2730

The Neurovascular Devices Market was valued at US$ 2,997.36 million in 2019 and is projected to reach US$ 3,871.20 million by 2027; it is expected to grow at a CAGR of 3.2% from 2020 to 2027. 

Neurovascular devices are used in 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 scope of the Neurovascular Devices market includes product, application, end user, and region. The market for Neurovascular Devices is analyzed based on regions such as North America, Europe, Asia Pacific, Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the Neurovascular Devices market emphasizing on various parameters such as market trends, technological advancements, market dynamics, and competitive landscape analysis of leading market players across the world.

Lucrative Regions for Neurovascular Devices Market

Lucrative Regions for Neurovascular Devices Market
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Market Insights

Increasing Incidences of Neurovascular Diseases

Neurological diseases are the disorders of the brain, spine and the nerves that connect them and supplies oxygenated blood. The neurovascular systems is highly dependent on the continuous supply of oxygen and nutrients which is been supplied by the arteries and veins. The supply of oxygen and nutrients to the brain is essential for its working, therefore a defect in the system can impair the function and it may quickly become a life threatening factor. The neurovascular condition, diseases or disorders includes, ischemic stroke, hemorrhage stroke, brain aneurysm, vascular malformation, brain tumors and others. The lifestyle habits, genetic disorders, related chronic diseases may cause development of the neurovascular diseases. During recent years, the prevalence of neurological disorders have increased significantly. For instance, cerebral aneurysm is one of the neurovascular diseases that is rising significantly across the world. The prevalence of cerebral aneurysms has increased tremendously across the globe. Nearly, 30,000 people in the United States suffer from brain aneurysm rupture every year. A brain aneurysm ruptures every 18 minutes. The annual rate of rupture in the United States is found close to 8 to 10 per 100,000 people. Thus, it is estimated that the rising prevalence of cerebral aneurysms is likely to fuel the growth of the market during the forecast period.

Customize Research To Suit Your Requirement

We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.

Neurovascular Devices Market: Strategic Insights

neurovascular-devices-market
Market Size Value inUS$ 2,997.36 Million in 2019
Market Size Value byUS$ 3,871.20 Million by 2027
Growth rateCAGR of 3.2% from 2020-2027
Forecast Period2020-2027
Base Year2019
Analyst Image

Akshay

Have a question?

Akshay will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst Image  Speak to Analyst

Neurovascular Devices Product -Based Insights

Based on product, the Neurovascular Devices market is segmented into neurothrombectomy devices, aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, and support devices.

In 2019, the support devices segment accounted for the highest share of the market. Growth of this segment is attributed to the growing Increasing prevalence of neurological conditions such as stroke, brain aneurysm, arteriovenous malformations (AVMs), are few factors contributing toward the support devices market growth.

Global Neurovascular Devices Market, by Neurovascular Product Type – 2019 & 2027

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities

Type - Application

The global neurovascular devices market by application segments was led by ischemic strokes segment. In 2019, the ischemic strokes segment held a largest market share of the neurovascular devices market, by application. The ischemic strokes segment is expected to be the fastest growing segments of the market in 2027 owing to rise in the aging population. Increase in the incidences of cardiovascular diseases is expected to become the major factor for the growth of the neurovascular devices market

End User -Based Insights

Based on End User, the Neurovascular Devices market is segmented into Hospitals, Ambulatory Surgical Centers, and Specialized Clinics. The hospital segment held the largest share of the market in 2019 and is estimated to register the highest CAGR of 3.8% in the market during the forecast period.

Product launches and expansion strategies are commonly adopted by companies to expand their footprint and product portfolio worldwide as well as to meet the growing demand.

The market players operating in the Neurovascular Devices market adopted the strategy of product innovation to cater to changing customer demand across the world, which also permits the players to maintain their brand name globally.

Global Neurovascular Devices Market – ByProduct

  • 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
  • Cerebral Balloon Angioplasty & Stenting Systems
    • Carotid Artery Stents
    • Embolic Protection Systems
    • Balloon Occlusion Devices
    • Distal Fillers
  • Support Devices
    • Microcatheters
    • Microguidewies

By Global Neurovascular Devices Market – By Application

  • Cerebral Aneurysms
  • Ischemic Stroke
  • Arteriovenous Malformation & Fistulas
  • Other Applications

By Global Neurovascular Devices Market – By End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialized Clinics

By Geography

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • France
    • Germany
    • UK
    • Spain
    • Italy
  • Asia Pacific (APAC)
    • China
    • India
    • Japan
    • Australia
    • South Korea
  • Middle East & Africa (MEA)
    • Saudi Arabia
    • South Africa
    • UAE
  • South America and Central America (SAM)
    • Brazil
    • Argentina

Company Profiles

  • Medtronic plc
  • Stryker Corporation
  • Johnson & Johnson Services, Inc.
  • Acandis GmbH & Co. KG.
  • MicroPort Scientific Corporation
  • Terumo Corporation
  • Penumbra, Inc.
  • phenox GMBH
  • Integer Holdings Corporation
  • Memry Corporation
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product , Application ; and End User and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are neurovascular devices?

Neurovascular devices are used in 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.

What are the Neurovascular embolization coils?

These devices have important role in treatment of brain aneurysms and other vascular abnormalities. The devices are implanted in aneurysm sac for smooth blood flow by promoting thrombosis

What are the driving factors for the neurovascular device market across the globe?

The growth of the market is attributed to 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.

The List of Companies - Neurovascular Devices Market

  1. Medtronic plc
  2. Stryker Corporation
  3. Johnson & Johnson Services, Inc.
  4. Acandis GmbH & Co. KG.
  5. MicroPort Scientific Corporation
  6. Terumo Corporation
  7. Penumbra, Inc.
  8. phenox GMBH
  9. Integer Holdings Corporation
  10. Memry Corporation

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

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.

  1. 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.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

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.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. 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.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Neurovascular Devices Market