Neurovascular Devices Market Research Report - Forecast to 2029 (Includes Business Impact of COVID-19)

  • TBI805255
  • November 28, 2020
  • Global
  • 132 pages
  • Lucintel

Abstract, Snapshot, Market Analysis & Market Definition: Neurovascular Devices Market

Industry / Sector Trends

Neurovascular Devices Market size was valued at USD 2.4 billion in 2018 and is expected to witness 5.4% CAGR from 2019 to 2025. In addition, the volume of neurovascular devices sold is set to exceed 1,500 thousand units by 2025. U.S. Neurovascular Devices Market Share, By Product, 2018 & 2025 (USD Million, 000 Units) Technological advancements in healthcare industry and growing number of neurovascular procedures worldwide will drive neurovascular devices market growth during the forecast period. Industry players are focusing on R&D activities for introduction of innovative products and novel technologies to offer efficient disease treatment. For instance, in June 2018, Terumo announced FDA clearance for SOFIA catheter, designed for distal navigation and successful revascularization of patients. Thus, commercialization of such advanced interventional neurology devices will augment industry growth during the forthcoming years. Moreover, various government initiatives to modernize and expand healthcare infrastructure across the globe will serve to be another positive impact rendering factor in the business growth. Awareness programs, literature and growing concern regarding neurological diseases have increased the number of government initiatives in the field of interventional neurology over the recent years. For instance, central government of China announced a series of healthcare improvements to establish a simple universal healthcare system to provide effective, convenient, low cost and safe healthcare services to the people in China. Such initiatives will further spur neurovascular devices market size during the analysis timeframe. However, high cost associated with neurovascular interventions and devices may impede industry growth over the forecast period.

Market Segmentation, Outlook & Regional Insights: Neurovascular Devices Market

Neurovascular Devices Market, By Product

Carotid stents segment is projected to witness over 4% CAGR during the forecast timeframe owing to inclination towards carotid artery stenting procedures. Usage of these devices to open the narrowed obstructed carotid artery to improve blood flow to the brain and minimize the risk of stroke in patients will increase its adoption in the foreseeable future. Flow diverters segment was valued around USD 360 million in 2018 and is anticipated to grow significantly by 2025. Technologically advanced flow diverters such as silk flow diverters in the treatment of brain aneurysm will boost segmental growth over the analysis period.

Analysis By Process

Coiling segment held over 14% of neurovascular devices market share in 2018 and is expected to show lucrative growth during the forthcoming years. Coiling technique stops bleeding by filling the aneurysm with coils. The process averts open surgery and prevents scarring. Such factors will upsurge the demand for coiling procedure, thereby, fostering business growth. Flow disruption/diversion segment accounted for considerable revenue share in 2018 and is estimated to witness over 5.5% CAGR over the analysis period. The technique is effectively used to remove large aneurysms and wide-neck bifurcation aneurysms. Recent advancements such as intrasaccular flow disruption procedures for treatment of cerebral aneurysm will propel the segmental growth. Germany Neurovascular Devices Market Size, By Process, 2018 (USD Million)

Insights By Therapeutic Application

Ischemic stroke segment held around 41% revenue share in 2018 and will exhibit significant growth during the analysis period. Segmental growth is attributable to large patient pool suffering from ischemic stroke worldwide. Increasing investment in R&D activities to develop technologically advanced devices for treating acute ischemic stroke along with increasing healthcare expenditure will thus accelerate the segmental growth. Stenosis neurovascular devices market segment was valued more than USD 330 million in 2018 due to rapidly ageing population susceptible to chronic or recurring indications of degenerative spinal disease. Thus, rising prevalence of spinal stenosis will increase the demand for minimally invasive technique, thereby, augmenting the industry growth.

Neurovascular Devices Market, By End-use

Hospitals segment is anticipated to show over 5% CAGR during the forthcoming years. Hospitals offer high-end technological products along with minimally invasive procedures for various diseases. Improvements in healthcare facilities and favorable reimbursement policies for hospital procedures should boost the segmental growth. Ambulatory surgical centers segment was valued over 32% of neurovascular devices market share in 2018. ASCs offer quality and cost-effective treatments that drive patient preference for surgical procedures being performed in these centers. Such factors will thus bolster segment growth over the coming years.

Neurovascular Devices Industry, By Region

North America neurovascular devices market is assessed to witness more than 5% CAGR over the analysis period. Rising prevalence of stenosis, aneurysm, ischemic stroke and other neurovascular diseases is the key factor driving regional neurovascular devices business growth. Accessibility to technologically advanced medical treatments and products should positively impact the business growth. Asia Pacific neurovascular devices business was valued over USD 600 million in 2018. Regional growth can be attributed to rising awareness regarding advanced and innovative neurovascular devices. Large patient pool in the highly populated Asian countries and rising healthcare expenditure will accelerate Asia Pacific neurovascular devices industry growth. Asia Pacific Neurovascular Devices Market Share, By Country, 2025 (USD Million)

Key Players, Recent Developments & Sector Viewpoints: Neurovascular Devices Market

Prominent industry players operating in neurovascular devices market share include Boston Scientific, Integer, ASAHI INTECC, MicroPort Scientific, KANEKA MEDIX, Johnson & Johnson, LivaNova, Penumbra, Medtronic, Terumo and Stryker. The business players implement numerous strategies including acquisitions, partnerships and new product launches to capitalize on opportunities and strengthen market position. In April 2018, LivaNova received CE Mark for its Vagus Nerve Stimulation Therapy System consisting of SenTiva generator and next-generation programming system for epileptic patients. This product approval enabled company to expand its existing product portfolio and gain more revenue. In July 2017, Johnson & Johnson announced introduction of Ceronovus, its new neurovascular business for effective stroke care. The strategy focused on development of innovative products for haemorrhagic and ischemic stroke patients, thereby, expanding its existing customer base and strengthening market position.

Industry Viewpoint

Introduction of detachable embolization coils and stents marked the advent of neurovascular devices in the medical field. The first mini coil developed to increase thrombogenicity was launched in 1978. Technological advancements in thrombectomy and embolization devices further accelerated the interventional neurology devices industry growth. For instance, in March 2017, Integra LifeSciences introduced CUSA Clarity, an ultrasonic tissue ablation platform, to deliver an integrated and innovative system for enhanced performance during neurosurgical procedures. Availability of such devices has led to an increase in product demand over the recent years. Moreover, growing patient preference towards minimally invasive procedures should further drive neurovascular devices market growth during the forthcoming years

Key Insights Covered: Exhaustive Neurovascular Devices Market

1. Market size (sales, revenue and growth rate) of Neurovascular Devices industry. 2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Neurovascular Devices industry. 3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Neurovascular Devices industry. 4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Neurovascular Devices industry.

Research Methodology: Neurovascular Devices Market

  • Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  • Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  • Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.

1 Report Overview
    1.1 Research Scope
    1.2 Major Manufacturers Covered in This Report
    1.3 Market Segment by Type
        1.3.1 Global Neurovascular Devices Market Size Growth Rate by Type (2019-2025)
    1.4 Market Segment by Application
        1.4.1 Global Neurovascular Devices Market Share by Application (2019-2025)
    1.5 Study Objectives
    1.6 Years Considered

2 Global Growth Trends
    2.1 Production and Capacity Analysis
        2.1.1 Global Neurovascular Devices Production Value 2014-2025
        2.1.2 Global Neurovascular Devices Production 2014-2025
        2.1.3 Global Neurovascular Devices Capacity 2014-2025
        2.1.4 Global Neurovascular Devices Marketing Pricing and Trends
    2.2 Key Producers Growth Rate (CAGR) 2019-2025
        2.2.1 Global Neurovascular Devices Market Size CAGR of Key Regions
        2.2.2 Global Neurovascular Devices Market Share of Key Regions
2.3 Industry Trends
        2.3.1 Market Top Trends
        2.3.2 Market Drivers

3 Market Share by Manufacturers
    3.1 Capacity and Production by Manufacturers
        3.1.1 Global Neurovascular Devices Capacity by Manufacturers
        3.1.2 Global Neurovascular Devices Production by Manufacturers
    3.2 Revenue by Manufacturers
        3.2.1 Neurovascular Devices Revenue by Manufacturers (2014-2019)
        3.2.2 Neurovascular Devices Revenue Share by Manufacturers (2014-2019)
        3.2.3 Global Neurovascular Devices Concentration Ratio
    3.3 Neurovascular Devices Price by Manufacturers
    3.4 Key Manufacturers Neurovascular Devices Plants/Factories Distribution and Area Served
    3.5 Date of Key Manufacturers Enter into Neurovascular Devices Market
    3.6 Key Manufacturers Neurovascular Devices Product Offered
    3.7 Mergers & Acquisitions, Expansion Plans

4 Market Size by Type
    4.1 Production and Production Value for Each Type
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