Global Neurovascular Devices Market growth rate CAGR of 6.43% during the forecast period 2018 – 2023

Neurovascular Devices Market

Industry Outlook and Trend Analysis

The global Neurovascular Devices market was worth USD 1.41 billion in 2014 and is expected to reach approximately USD 2.47 billion by 2023, while registering itself at a compound annual growth rate CAGR of 6.43% during the forecast period.

This development can be linked to an expanding persistent base with neurovascular diseases, for example, strokes and brain aneurysm, enhancing social insurance foundation over the globe, and expanding interest for insignificantly invasive surgeries. Rising number of target patient population, particularly in the created nations, ascribed to expanding awareness about the sicknesses is one of the key components adding to the development of this industry. Constant adoption of the novel and creative treatment approaches combined with expanding per capita incomes particularly in the emerging economies additionally improves the adoption of neurovascular devices.

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Device Type Outlook and Trend Analysis

Based on type, the neurovascular devices can be sectioned into four significant classes, to be specific, cerebral angioplasty and stenting systems, cerebral embolization and aneurysm coiling devices, support devices, and neurothrombectomy devices. These classes are additionally fragmented in light of particular applications. Cerebral embolization and aneurysm coiling devices represented lion’s share at over 40%, relating to their broad applications fundamentally in the treatment of strokes and aneurysms.

Therapeutic Applications Outlook and Trend Analysis

In 2013 Stroke was the second worldwide cause for death, representing 11.8% of deaths around the world. As per American Stroke Association, stroke is fifth reason for death in United States. Moreover, stroke is the main source of inability over the globe. Stroke held the larger part of offer in the fragment for therapeutic applications in 2015, and will hold its position amid the conjecture time frame, inferable from the rising way of life issue identified with blood pressure and obesity.

Regional Outlook and Trend Analysis

North America represents the biggest business share at display and is probably going to hold its best position over the gauge time frame. The key variables driving the development of North American market involve positive repayment structure, particularly in the United States., accessibility of RandD investments, and expanding implementation of neurovascular devices by neurosurgeons because of the innovative modernity. Moreover, the Asia Pacific is foreseen to exhibit significant development in the upcoming years.

Competitive Insights

The leading players in the market are MicroPort Scientific, Terumo Corporation, W. L. Gore and Associates, Abbott and Penumbra. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.

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The Neurovascular Devices market is segmented as follows-
By Device Type:
Neurothrombectomy Devices
Cerebral Embolization and Aneurysm Coiling Devices
Support Devices
Neurothrombectomy Devices

By Therapeutic Application:
Cerebral Artery Stenosis
Cerebral Aneurysm
Stroke
Others

By Region:

North America

U.S
Canada
Mexico

Europe

Germany
France
UK
Italy
Spain
Rest of Europe

Asia-Pacific

Japan
China
Australia
India
South Korea
Rest of Asia Pacific

Rest of the World

Brazil
South Africa
Saudi Arabia
United Arab Emirates
Others

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