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The latest report by IMARC Group, titled” Neurovascular Devices Market Report by Product (Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices), Application (Ischemic Stroke, Aneurysm, Arteriovenous Malformation and Fistulas (AVM), Stenosis, and Others), End User (Hospitals, Ambulatory Surgical Centers, Clinics, and Others), and Region 2023-2028 “. The global neurovascular devices market size reached US$ 2.74 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.90 Billion by 2028, exhibiting a growth rate (CAGR) of 5.9% during 2023-2028.
Factors Affecting the Growth of the Neurovascular Devices Industry:
Increasing Prevalence of Neurological Disorders:
The neurovascular devices market experiences robust growth due to the escalating incidence of neurological disorders. Conditions such as stroke, aneurysms, and arteriovenous malformations are becoming increasingly prevalent across the globe. This surge in neurological ailments necessitates the use of advanced neurovascular devices for precise diagnosis and effective treatment. The market responds to the growing demand for innovative solutions to address these conditions, making it a pivotal factor for manufacturers and healthcare providers to consider when strategizing their offerings. This dynamic landscape underscores the importance of staying at the forefront of medical advancements, ensuring that the latest neurovascular technologies are readily available to meet the evolving healthcare needs of patients worldwide.
Ongoing Technological Advancements:
Continuous innovations in neurovascular device technology have revolutionized the market. These advancements have made minimally invasive procedures safer and more efficient while enhancing the precision of diagnosis and treatment. Patients and healthcare providers are increasingly drawn to these innovative devices due to their improved outcomes and reduced risks. This rapid technological evolution also fosters a competitive environment among manufacturers, driving further innovation and fostering the development of cutting-edge neurovascular solutions that cater to the ever-evolving healthcare landscape. Additionally, it emphasizes the importance of healthcare professionals staying up to date with the latest advancements in neurovascular technology to offer the best possible care to patients.
The aging demographic profile in various regions is a major driver of the neurovascular devices market. Older individuals are more susceptible to neurovascular disorders, making early diagnosis and intervention crucial. This demographic shift ensures a sustained demand for neurovascular devices as the aging population continues to grow. Additionally, it underscores the necessity for healthcare providers and manufacturers to tailor their products and services to meet the unique healthcare needs of this expanding demographic, solidifying the long-term relevance and growth prospects of neurovascular devices within the healthcare sector. It further highlights the importance of proactive healthcare planning and investment in neurological care as societies continue to age.
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Leading Companies Operating in the Global Neurovascular Devices Industry:
Acandis GmbH Asahi Intecc Co. Ltd. Imperative Care Inc. Integer Holdings Corporation Johnson & Johnson Medtronic plc MicroPort Scientific Corporation Penumbra Inc. Perflow Medical Ltd. Rapid Medical Stryker Corporation Terumo Corporation
Neurovascular Devices Market Report Segmentation:
By Product:
Cerebral Embolization and Aneurysm Coiling Devices Embolic Coils Flow Diverters Liquid Embolic Agents
Cerebral Angioplasty and Stenting Systems Carotid Artery Stents Embolic Protection Devices
Neurothrombectomy Devices Clot Retrieval Devices Suction Devices Vascular Snares
Support Devices Micro Catheters Micro Guidewires
Cerebral embolization and aneurysm coiling devices represented the leading segment due to their effectiveness in treating cerebrovascular conditions.
By Application:
Ischemic Stroke Aneurysm Arteriovenous Malformation and Fistulas (AVM) Stenosis Others
Based on the application, the market has been divided into ischemic stroke, aneurysm, arteriovenous malformation and fistulas (AVM), stenosis, and others.
By End User:
Hospitals Ambulatory Surgical Centers Clinics Others
Hospitals held the majority of the market share on account of their role as primary healthcare institutions for the diagnosis and treatment of neurovascular disorders.
Regional Insights:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
North America's dominance in the neurovascular devices market is attributed to its advanced healthcare infrastructure, a high prevalence of neurological diseases, and extensive research and development efforts in the field.
Global Neurovascular Devices Market Trends:
The global neurovascular devices market is primarily driven by the increasing prevalence of neurological disorders such as stroke and aneurysms, which necessitate the use of these devices for diagnosis and treatment. Additionally, ongoing advancements in technology have led to the development of more sophisticated neurovascular devices that enhance their efficacy and safety pr,opelling market growth.
Moreover, the heightening awareness among healthcare professionals and patients about the benefits of early diagnosis and minimally invasive treatments using neurovascular devices has catalyzed market growth. Furthermore, several favorable reimbursement policies and investments in healthcare infrastructure are supporting market growth.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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