Neurovascular Devices/Interventional Neurology Market by Product (Embolic Coils, Stents, Neurothrombectomy Devices, Microcatheters, Balloon Occlusion Devices, Flow Diversion Devices, Clot Retrievers), Pathology (Aneurysm, AVM) - Global Forecasts to 2021
The global neurovascular devices/interventional neurology market is estimated reach USD 2.62 million at a CAGR of 8.6% during 2016-2021. As of 2016, North America and Europe holds the largest share of the market; however, the Asia-Pacific region is poised to be the fastest growing region during next five years owing to factors such as the presence of a large patient population base for target diseases, rising awareness among neurosurgeons related to the benefits offered by interventional neurology devices, ongoing government initiatives to modernize & expand healthcare infrastructure, and increasing adoption of neurovascular devices due to decreasing product price (owing to increasingly localized manufacturing and strengthening of distribution networks).
Market growth in the market is mainly driven by factors such as large target patient population base, ongoing product development & commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets and growing market demand for effective neurovascular devices. The factors such as the increasing number of research activities in the field of neurovascular therapies and rising demand for minimally invasive neurosurgical procedures are expected to offer renewed growth opportunities for the market players during the forecast period.
Geographically, North America is estimated to command the largest share of the global market in 2016, followed by Europe. The large market share of the North American region can be attributed to increasing adoption of neurovascular devices among neurosurgeons in neurovascular disease treatment, the growing number of clinical trials (that aim to evaluate the therapeutic efficacy of neurovascular devices in specific disease treatment), significant medical reimbursement available in the U.S. for neurosurgical procedures, large patient population for target diseases, favorable reimbursement scenario, strong presence of device manufacturers in the region, and availability of significant R&D investments to support neurovascular product development. However, market growth will be negatively affected due to the unfavorable regulatory scenario in the region, which may result in increased pricing pressure on key neurovascular device manufacturers.
The market is highly competitive, with a large number of global and local manufacturers of neurovascular products. Stryker Corporation (U.S.), Medtronic Plc (Ireland), and Johnson & Johnson (U.S.) were the top three players in the market, in 2015.
This report studies neurovascular devices/interventional neurology market based on products, disease pathology, and region.
The report also studies, the factors (such as drivers, restraints, opportunities, and challenges) which affect the market growth in a positive and negative manner. It analyzes opportunities and challenges in the market for stakeholders and provides details of the competitive landscape for market leaders. Furthermore, the neurovascular devices/interventional neurology market report analyzes the micromarkets with respect to their individual growth trends, prospects, and contributions to the neurovascular devices/interventional neurology market.
Reasons to buy the report:
From an insights perspective, this research report is focused on various levels of analysis—industry trends, market share analysis of top ten players, and company profiles, which together discuss basic views on the competitive landscape, emerging and high growth segments of the neurovascular devices/interventional neurology market, and high growth regions and their respective drivers, restraints, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms in garnering greater market shares. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on product portfolios offered by the major players in the neurovascular devices/interventional neurology market. The report analyzes the market based on product, disease pathology, and region.
Product Development/Innovation: Detailed insights on the upcoming technologies, research and development activities, and product launches in the neurovascular devices/interventional neurology market
Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various neurovascular devices/interventional neurology products across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the neurovascular devices/interventional neurology market
Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the neurovascular devices/interventional neurology market
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook