Neurovascular devices are
increasingly being used in for treating and management of neurovascular
disorders such as arteriovenous malformations (AVMs) and brain aneurysm. As the
global burden of neurovascular disorders continue to rise, the demand for their
treatments gains further traction. Neurovascular disease are complex in nature
and hence preference for minimally invasive procedures is higher. This, in
turn, is driving the sales of neurovascular devices across the globe. Market
Research Future (FRMR) is its latest report asserts that the global market for
neurovascular devices will grow at a healthy rate over the next couple of
years.
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Incessant product
innovation, increased product marketing and favourable reimbursement policies
are driving the global market for neurovascular devices. Other factors that are
reflecting favourably on the market include expansion of the geriatric
population, and advances in medical technology in the field of interventional
neurology. Moreover, neurovascular
devices are also used in treating patients suffering for ischemic stroke or
haemorrhagic. It has been observed that neurovascular device assisted
interventional procedures are replacing the traditional neurosurgeries. Owing
the low risk of damaging surrounding tissues and minimal surgical trauma,
interventional procedure are more favoured as compared to neurosurgery. At the
same time, chances of infection is significantly when neurovascular device
based treatment. On the other hand, inadequate number of hilly skilled neurologist,
particularly in developing countries expected to have a negative impact on the
growth of the market. High cost of neurovascular devices continue to limit
their user base despite their increased efficiency.
Latest
Industry Highlights:
·
Perflow Medical, a renowned medical devices manufacturing
company based in Israel, which is primarily engaged in developing novel
solution for neurovascular interventions. Has recently announced that the
company successfully approved a $12 Mn funding from its investors. Reportedly,
the funding syndicate in included two new international investors with the
existing stakeholders.
·
Junkosha a US-based company has recently introduced a unique
peelable heat shrink. The technology will reportedly enable access to intricate
parts of the vascular system with minimal risk of damage to the surroundings.
Global
Market for Neurovascular Devices – Segmental Analysis
MRFR in its report has offer
comprehensive segmental analysis of the market based on therapeutic
application, end-user and product. By therapeutic application, the market is
bifurcated into ischemic strokes and hemorrhagic stroke. Based on end user, the
market is segment into ambulatory surgical units and hospitals & clinics.
By product type, the market is segmented into stenting systems,
neurothrombectomy devices, cerebral balloon angioplasty, aneurysm coiling &
embolization devices and support device.
Regional
Overview
The Americas is expected to
hold the dominant position in the global market for neurovascular devices. This
is primarily attributed to the rising incidences of neurovascular disorders
such as arteriovenous malformations (AVMs) and brain aneurysm across North and
South America. In addition, presence of major players and rising healthcare
spending among Americans is propelling the market in the region. Improved
reimbursement scenario and rapid adoption of neurovascular devices in
neurological centers across the region is also proving an impetus to the
market. Asia Pacific and Europe are two other regions anticipated to present
significant growth opportunities for market during the forecast period.
Global
Market for Neurovascular Devices – Competitive Analysis
Leading companies operating
in the global market for neurovascular devices include Medtronic, TERUMO
CORPORATION, Merit Medical Systems, Inc., Penumbra, Inc., Evasc, Neuravi,
Sensome, Delaware Corporation, Gynesonics, Stryker, Johnson & Johnson Services,
Inc., Abbott, Medikit co., ltd., MicroPort Scientific Corporation, Rapid
Medical, W. L. Gore & Associates, Inc., Blockade Medical, LLC.,
OxfordEndovascular, and Secant Group, LLC. A majority of these market
participants are actively focusing on expanding market presence by engaging in
merger & acquisition and reaching offshore distribution agreements with
third party vendors.
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