Neurovascular Devices Market to Reach USD 6.04 Billion by 2031, Growing at 8.5% CAGR | SkyQuest Technology

Dermatological Drugs Market

Market Overview:

Global Neurovascular Devices Market size was valued at USD 2.90 Billion in 2022 and is poised to grow from USD 3.15 Billion in 2023 to USD 6.04 Billion by 2031, growing at a CAGR of 8.5% in the forecast period (2024-2031). The neurovascular devices market is poised for considerable growth, propelled by several key drivers, such as rising cases of neurological disorders, continuous technological innovation, and an increasing need for minimally invasive procedures, are expected to take the neurovascular devices market to considerable heights.

Other factors contributing to this can be attributed to the large and rapidly growing patient population suffering from such targeted diseases in key markets, resulting in a significant rise in demand for neurovascular devices. One of the major factors acting as a potential catalyst to drive the market growth over the forecast period is a high prevalence of acute ischemic stroke.

Market Insights:

Neurovascular Devices Market Drivers

Rising Popularity of Minimally Invasive Surgeries to Augment Market Growth

  • The increased popularity of minimally invasive surgeries is based on their inherent advantages, including reduced risks and trauma associated with the procedures. Small incisions reduce postoperative pain and hasten recovery time, hence a factor that has greatly encouraged the adoption of such techniques and accelerated research and development in this area. Heavy investments are being channeled by many leading industry players into research and development activities to launch innovative minimally invasive surgical instruments.

Rising Prevalence of Neurovascular Disorders

  • The neurovascular device market is largely driven by rising incidences of neurovascular diseases such as strokes or aneurysms. More than 15 million people across the world suffer from stroke every year, out of which nearly 6 million resultant cases result in death and 5 million in permanent disability. Thus, with the aging of the global population and the increasing risks associated with lifestyle—hypertension, diabetes, and obesity, for instance—cases of neurovascular diseases are on an increasing count.

Download a detailed overview:
https://www.skyquestt.com/speak-with-analyst/neurovascular-devices-market

Key Market Segments:
Disease Pathology

Cerebral Aneurysm (Embolic Coils [Bare Detachable Coils, Coated Detachable Coils], Flow Diversion Devices, Intracranial Stents, Microcatheters, Guidewires), Arteriovenous Malformation And Fistulas (Liquid Embolic Agents, Occlusion Balloon Catheters, Microcatheters), Ischemic Stroke (Clot Retriever Devices, Suction & Aspiration Devices, Vascular Snares, Microcatheters, Micro Guidewires, Balloon Catheters), Carotid Artery Stenosis (Carotid Artery Stents, Embolic Protection Devices, Balloon Catheters), and Others

End-Use

Hospitals and Surgical Centres, Ambulatory Care Centers, Research Laboratories and Academic Institutes

Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/neurovascular-devices-market

Analysis by Disease Pathology  

Ischemic stroke emerged as the dominant segment, commanding a significant market share of approximately 56.9% in 2023, owing to various factors, notably the rising incidence of hypertension, stroke, and other neurological disorders. These devices physically remove the blood clot from the cerebral arteries. Whereas based in-depth analysis carried out by SkyQuest, it found out that taking into consideration the severity of this health, one out of six persons experiences stroke in their lifetime. Whereas in the United States of America, it causes over 795,000 people to suffer a stroke yearly. On new developments, it improved the navigability, thus being used in the enhancement of ability to treat even complex cases of stroke.

Cerebral aneurysm forms the fastest-growing sub-segment, and it is predicted to register the highest CAGR during the forecast period owing to the rise in the prevalence of this condition. Neurovascular devices for the current treatment of cerebral aneurysms have ruthlessly reduced the chances of rupture and thereby related mortality. Coil embolization rates generally exceed 90% for completely occluding an aneurysm, therefore significantly minimizing the possibility of rupture and enhancing the prognosis for patients. According to the Brain Aneurysm Foundation, approximately 6.5 million people in the United States have unruptured brain aneurysms, while some 30,000 suffer ruptures each year. In view of this alarmingly high incidence, there is, therefore, a great requirement for advanced treatments and interventions in this segment of illnesses.

Regional Insights:
North America was seen to have established a strong hold over the neurovascular devices market, accounting for a significantly large 26.43 percent market share in 2023. This is mainly due to the localization of essential producers in the area. Market players such as Penumbra, Inc., Stryker Corporation, Johnson & Johnson, and Merit Medical Systems, Inc., among others play a major role in this market domination through their activities in North America. Another factor is the region’s progressive health care, high spending toward health care, and effective implementation of modern health care technologies which put the region in a better position. Beneficial policies on reimbursement and the high standards of FDA for the approval of the neurovascular therapies guarantee high quality and safety therefore consolidating the dominance of the market in North America.

Asia-Pacific is expected to experience the highest growth rate with the highest Compound Annual Rate of growth in the foreseen future mainly due to various factors. Growth in economic standards and advanced health care facilities are empowering patients in the emerging nations such as China, India and Japan by offering superior medical treatments. The region increases the load of target diseases, especially neurological disorders are concerned, illustrated by India’s statistics where about 30 million people struggle with neurological diseases. Thus, demand for neurovascular devices is further complemented by increasing concerns about minimally invasive treatments and their positive impact in the specified region.

Prominent Players in Neurovascular Devices Market:

  • Acandis GmbH (Germany)
  • Asahi Intecc Co. Ltd. (Japan)
  • Imperative Care Inc. (United States)
  • Integer Holdings Corporation (United States)
  • Johnson & Johnson (United States)
  • Medtronic plc (Ireland)
  • MicroPort Scientific Corporation (China)
  • Penumbra Inc. (United States)
  • Perflow Medical Ltd. (Israel)
  • Rapid Medical (Canada)
  • Stryker Corporation (United States)
  • Terumo Corporation (Japan)
  • Balt (Switzerland)
  • WL Gore & Associates (United States)
  • Penumbra, Inc. (United States) (duplicate)
  • Silk Road Medical (United States)
  • Siemens Healthineers AG (Germany)
  • Le Maire Vascular (France)
  • Boston Scientific Corporation (United States)
  • InspireMD, Inc. (Israel)

View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/neurovascular-devices-market

Additional Insights:

Market Penetration: Analysis of the product portfolio of different market players and the status of new product launches.

Product Development/Innovation: Assessment of R&D activities, new product development, and emerging trends.

Market Development: Analysis of regions with high growth potential.

Market Diversification: Assessment of new products, recent developments, and emerging regional markets.

Competitive Landscape: Growth strategies, revenue analysis, and product innovations by market players.

Key Questions Answered in Neurovascular Devices Market Report:

What is the global market size of the Neurovascular Devices Market?

Who are the key vendors in the Neurovascular Devices Market?

What is the key driver of the Neurovascular Devices Market?

What is the key market trend for the Neurovascular Devices Market?

Which region accounted for the largest share in the Neurovascular Devices Market?

About Us:

SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.

Contact:

Mr. Jagraj Singh
Skyquest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/