Neurovascular Devices Market to hit USD 4.5 billion by 2030, says Global Market Insights Inc.
Neurovascular devices industry is anticipated to register 5.5% CAGR between 2022 and 2030 due to increasing occurrences of brain aneurysms and ischemic strokes in North America.
Selbyville, Delaware, Nov. 21, 2022 (GLOBE NEWSWIRE) —
The neurovascular devices market size is set to reach USD 4.5 billion by 2030, according to a new research report by Global Market Insights Inc.
The report identifies technological advancements and increasing cases of chronic diseases as the chief drivers of the neurovascular devices industry. Additionally, favorable government initiatives to promote the modernization of healthcare infrastructure across the globe are speculated to push market growth. The U.S. government at federal, state, and local levels is responsible for the health of people.
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Flow diverters segment to benefit from supportive government initiatives
flow diverters segment was valued at more than USD 475 million in 2021 as a result of snowballing awareness regarding the treatment and initiatives taken by the government to prevent the rate of intracranial aneurysms. Furthermore, surgical procedure for flow diverters is comparatively less complicated than the ones involving embolic coils and requires a shorter inpatient time, which is foreseen to facilitate product uptake.
Growing demand for minimally invasive procedures to fuel coiling utilization
The neurovascular devices market size from the coiling segment is forecast to surpass USD 715.5 million by 2030. Heavy demand for coiling, especially due to the high preference for minimally invasive medical procedures. The coiling technique does not require an incision in the skull to treat brain aneurysms and instead utilizes a catheter to reach the brain. The procedure is performed to block blood flow into an aneurysm.
Browse key industry insights spread across 462 pages with 608 market data tables & 18 figures & charts from the report, “Neurovascular Devices Market Analysis By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), By Process (Neurothrombectomy, Cerebral Angiography, Carotid Endarterectomy, Stenting, Microsurgical Clipping, Coiling, Flow Diversion), By Therapeutic Applications (Brain Aneurysm, Stenosis, Ischemic Strokes), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
Affordable healthcare to foster ambulatory surgical centers segment outlook
Neurovascular devices market from ambulatory surgical centers segment held 33% business share in 2021 and is expected to showcase significant growth over 2022-2030. These centers offer low-cost treatment, which decreases the financial strain on Medicare and private insurance providers, positively influencing the demand for neurovascular devices. Moreover, these centers provide same-day surgical care, including diagnostic & preventive procedures, which is slated to boost segment size.
Expanding population base to spur product usage in spinal stenosis therapeutic applications
Neurovascular devices market share from the stenosis therapeutic application segment was worth more than USD 440 million in 2021. The growing number of people suffering from stenosis is set to push product adoption for its treatment. For instance, according to the American Academy of Orthopedic Surgery report, in 2021, approximately 2.4 million suffered from intracranial stenosis.
Favorable regulatory policies to propel Latin America neurovascular devices industry growth
LATAM neurovascular devices market is projected to depict over 4% CAGR through 2030 owing to supportive regulatory norms for medical modalities for superior patient care and management. Strong initiatives undertaken by the government to improve the healthcare infrastructure are also impelling product demand in the LATAM region.
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New product launches to remain a key growth strategy
Some key players profiled in the neurovascular devices industry report include Integer Holdings Corporation, Johnson & Johnson Services, Kaneka Medix Corp. Medtronic, and MicroPort Scientific Corporation, among others.
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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