The high prevalence of brain aneurysm and ischemic strokes is the primary cause for the rise in demand for less enveloping invasive surgical procedures or devices. The worldwide initiatives are in pipeline regarding the innovative healthcare infrastructure with the leading industry players. The percentage of the Americans suffering from cerebral aneurysms is 3% to 5%. The Embolization and Coiling Devices market is experiencing minimal growth, due to high cost of devices, and lack of neurosurgeons as a major challenge.
According to the market research report “Embolization and Coiling Devices-Medical Devices Pipeline Assessment, 2017“, the products of global Neurovascular Devices are Aneurysm Coiling & Embolization Devices, Embolic Coils, Bare Detachable Coils, and Coated Detachable Coils. Flow Diversion Devices, Liquid Embolic Agents, Cerebral Balloon Angioplasty & Stenting Systems, Carotid Artery Stents, Embolic Protection Systems, Distal Filter Devices, Balloon Occlusion Devices, Support Devices, Microcatheters, Microguidewires, Neurothrombectomy Devices, Clot Retrievers, Suction and Aspiration Devices and Snares also a few.
By the year 2024, the Thrombectomy products will witness enormous revenue and also, the stent retrievers and flow diverters growth will increase rapidly. Brain aneurysm, ischemic strokes, stenosis, arteriovenous malformations and fistulas are the major neurovascular disorders observed in the past few years. There was a significant increase in these neurological disorders worldwide. The age group of 35 to 60 years are affected by Aneurysm. However, unawareness and lack of specialized neurosurgeons has led to increase in the deceased rate.
The global Embolization and Coiling Devices market growth will increase with the demand for effective treatment in both developed and developing countries. Neurothrombectomy, cerebral angiography, coiling, stenting & flow disruption are the Neurovascular device processes. Stenting is the fastest-growing segment with the increased adoption of balloon catheters and carotid stents for effective treatment of ischemic strokes and stenosis.
The end-users of the global Embolization and Coiling Devices are healthcare service providers (Hospitals and surgical centers), non-government organizations, Government regulatory authorities, research laboratories and academic institutes, clinical research organizations (CROs), research and development companies and market research and consulting firms. Consumers’ healthcare expenditure, advanced technology in neurosurgeries, medical reimbursement options and well developed healthcare infrastructure are major factors demanding for Embolization and Coiling Devices. The higher occurrence of brain aneurysm in Latin America and Brazil is leading to a rapid growth in the neurovascular device market.
The advanced research on neurovascular therapies and promised government policies will stimulate the neurovascular device market growth. The Neurovascular device competitors in the developed countries are facing challenges due to commercialization. The major competitors in the Neurovascular devices market are Stryker Corporation (U.S.), Medtronic plc (Ireland), Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc. (U.S.), Abbott Laboratories (U.S.), Merit Medical Systems, Inc. (U.S.), W. L. Gore & Associates, Inc. (U.S.), and MicroPort Scientific Corporation (China). The competitors are merged withfew operational companies who focus on inorganic growth to strengthen and expand their business presence globally.
Embolization and Coiling Devices market is expected to create rewarding opportunities for the industry players. The increase in number of patients in Asia Pacific region (India, China and Japan), along with advanced technology is expected to encourage the Embolization and Coiling Devices market size. Latin America will witness highest growth rate in Embolization and Coiling Devices market due to increase number of neurological disorder instances. The advanced private healthcare sector along with insurance coverage and rising awareness amongst people will also help in the growth of the global Neurovascular Devices market.
Geographically the marker is divided based on the regions: North America (U.S.A, Canada), Europe (Germany, France, U.K., rest of Europe), Asia-Pacific (Japan, China, India, rest of Asia Pacific), and rest of the World. The diagnosis, treatment, rehabilitation, and prevention of vascular disorders affecting the central nervous system with minimal procedure are known as Neurovascular intervention. The innovative advanced devices such as emerging Carotid Stent, Micro wire/Catheter and Clot Removal device are in more demand than Coil devices. The adoption of emerging technologies is stealing the growth of the market from the stent-assisted and balloon-assisted coiling markets. Neurovascular Devices Market size is expected to grow at a whooping rate by 2024, to meet the needs of the consumers’.
Key Topics Covered in the Report:
Embolization and Coiling Medical Devices Pipeline Assessment Market Research Report
Embolization and Coiling Medical Devices Pipeline Assessment Market
Embolization and Coiling Medical Devices Pipeline
Global Embolization and Coiling Medical Devices Pipeline Assessment
Embolization and Coiling Medical Devices Pipeline Assessment Future Outlook
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Ankur Gupta, Head Marketing & Communications