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The global Neurovascular Devices Market Size is expected to attain a market size of $2.3 billion by 2022, rising at a CAGR of 8.4% during the forecast period.
The field of medicine which deals in the anatomy and disorders of nervous system is termed as Neurology. The term neuro and vascular refers to nerve and Veins respectively. Neurovascular Devices also known as Interventional Neurology, is the non-surgical specialty that uses minimally invasive, image guided techniques mainly used for the treatment of the most complicated and dangerous diseases of the brain, neck and spine. Vascular structures of the nervous tissues and blood vessels are majorly affected in the patients suffering from Neurovascular disorders which mainly affect the human brain and damage it. Neurology is mainly needed for the effective treatment of neurovascular disorders.
The major factors driving the growth of the market are growing target patient population, infrastructural growth in developing economies, and technological advancements in the field of neurosurgeries. Multinational healthcare companies play a crucial role in improving access to medicines and quality care for citizens of developing countries. However, lack of experienced neurosurgeons and health care reforms in the U.S are some of the factors restraining the growth of the market. Based on the technology type, the Neurovascular Devices market is segmented into Embolization & Coiling, Cerebral Balloon Angioplasty & Stenting Systems, Support Devices and Neurothrombectomy Devices. Embolization & Coiling is further segmented into Embolic Coils, Flow Diversion Devices and Liquid Embolic Agents.
Cerebral Balloon Angioplasty & Stenting Systems is further sub-segmented into Carotid Artery Stents and Embolic Protection Systems. Support Devices is further divided into Microcatheters and Microguidewires. Neurothrombectomy Devices is further segmented into Clot Retrievers, Suction & Aspiration Devices and Snares. Based on region, Neurovascular Devices market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Neurovascular Devices market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).
The report covers the analysis of key stake holders of the Neurovascular Devices market. Key companies profiled in the report include Stryker Corporation, Medtronic Plc, Johnson & Johnson, Terumo Corporation, Abbott Laboratories, Merit Medical Systems, Inc., W.L. Gore & Associates, Inc., Microport Scientific Corporation and Medikit Co. Ltd.