Neurovascular Devices Market by Product and Geography - Forecast and Analysis 2022-2026

Neurovascular Devices Market Size 2022-2026

The neurovascular devices market size is expected to increase by USD 955.15 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.44%.

The market report also offers information on several market companies, including Acandis GmbH, Asahi Intecc Co. Ltd., BALT Group, Cerus Endovascular Inc., Evasc Medical Systems Corp., Imperative Care, Integer Holdings Corp., Integra LifeSciences Corp., Johnson and Johnson Inc., Kaneka Corp., Lepu Medical Technology (Beijing) Co. Ltd., Medtronic Plc, MicroPort Scientific Corp., Penumbra Inc., Perflow Medical Ltd., phenox GmbH, Rapid Medical, SENSOME, Stryker Corp., and Terumo Corp. among others.

Study Period	2022
Base Year For Estimation	2021
CAGR	5.44%
Forecast period	2022-2026
Fastest Growing Region	North America 37%
Largest Segment	Product

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What will the Neurovascular Devices Market Size be During the Forecast Period?

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Market Dynamics

The availability of favorable reimbursement coverage is notably driving the market, although factors such as the availability of alternatives may impede the market. The holistic market trends and analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Driver

One of the key factors driving the global market is the availability of favorable reimbursement coverage. For instance, in the US, government bodies such as Medicare and Medicaid provide reimbursements for healthcare under the diagnostic-related group (DRG) and ambulatory payment classification (APC) payments. Most government and private organization policies cover around 75% of the cost of devices and treatment care. For instance, Medicare covers percutaneous transluminal angioplasty (PTA) of the carotid artery treatment concurrent with the placement of an FDA-approved carotid stent with embolic protection for patients who are at higher risk for CEA and also have symptomatic carotid artery stenosis higher than 70%. Apart from government insurers, even private insurers will sanction reimbursements for using embolic protection devices. Thus, the presence of favorable reimbursement policies will drive the market during the forecast period.

Major Trend

Market expansion in emerging economies such as India, China, and South Africa is one of the key market trends that is expected to impact the industry positively in the forecast period. Factors such as the increasing incidence of various chronic diseases, rising income levels of people, increasing investments in the healthcare sector, and government initiatives for the development of the healthcare sector in rural areas provide significant markets in these countries. Several players, including Boston Scientific, Terumo, Stryker, and Medtronic, are increasingly focusing on exploring opportunities in emerging economies. For instance, Boston Scientific is significantly investing in R and D activities for neurovascular treatments. Its research and development investments were USD 1,113 million in 2018, USD  997 million in 2017, and USD 920 million in 2016.

Significant Challenge

One of the key challenges to the global market is the availability of alternatives such as traditional endovascular surgical techniques, surgical clipping, stents, and flow diverters. In addition, in May 2019, Stryker won FDA approval for the Neuro form brain aneurysm stent system, which uses a nitinol stent to treat aneurysms in the brain. Flow diverters are endovascular prosthetics that are placed in the aorta blood vessel to divert the blood flow from the aneurysm. These devices are effective even in treating wide neck and giant aneurysms through gradual thrombosis over the period. Thus, the availability of various alternatives hinders market growth during the forecast period.

This market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Neurovascular Devices Market Companies?

The report analyzes the market's competitive landscape and offers information on several market companies, including:

• Acandis GmbH
• Asahi Intecc Co. Ltd.
• BALT Group
• Cerus Endovascular Inc.
• Evasc Medical Systems Corp.
• Imperative Care
• Integer Holdings Corp.
• Integra LifeSciences Corp.
• Johnson and Johnson Inc.
• Kaneka Corp.
• Lepu Medical Technology (Beijing) Co. Ltd.
• Medtronic Plc
• MicroPort Scientific Corp.
• Penumbra Inc.
• Perflow Medical Ltd.
• phenox GmbH
• Rapid Medical
• SENSOME
• Stryker Corp.
• Terumo Corp.

This statistical study of the market encompasses successful business strategies deployed by the key companies. The market is fragmented and the companies are deploying growth strategies such as the expansion of product portfolio to compete in the market.

Product Insights and News

• BALT Group - It is a public company headquartered in Belgium. It is a global company generating USD 2,396.86 million in revenues and limited information regarding its employee strength is available. Its revenue from the global market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
• BALT Group - The company offers long sheaths, revascularization devices, venous remodeling balloons, double-lumen balloon catheters, guiding catheters, braided stents, and guidewires.

The market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the market, which companies can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help companies drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Neurovascular Devices Market?

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37% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets in North America. Market growth in this region will be faster than the growth of the market in the Rest of World (ROW).

The presence of well-equipped and established healthcare infrastructure, the availability of highly skilled professionals, and the presence of extensive healthcare insurance coverage will facilitate market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for companies, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Market?

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The market share growth by the embolization devices segment will be significant during the forecast period. Owing to a growing end-user preference for minimally invasive neurosurgical procedures and increasing market availability of embolic coils for neurovascular treatment will result in the growth of the embolization devices market segment during the forecast period. Embolic coils are one of the largest contributors to the global embolization devices market.

Market Analyst Overview

The market for interventional neurology devices is experiencing robust growth, primarily driven by the escalating incidence of neurological diseases and the demand for minimally invasive procedures to address brain vascular disorders. This surge in demand is particularly pronounced in emerging countries, where strategic collaborations and partnerships among key stakeholders are facilitating market expansion. Technological developments are at the forefront of this growth, driving advancements in neurovascular interventional procedures and enhancing clinical efficacy, diagnosis, monitoring, and therapy for various neurological conditions. Catheter-based procedures, angiography, fluoroscopy, and catheter angiography techniques are increasingly utilized, alongside in-vivo brain vascular imaging techniques, to improve patient outcomes.

Neurological illnesses such as strokes, epilepsy, intracranial stenosis, arteriovenous fistulas, and vasculitis are among the key drivers of market demand. However, challenges such as a limited patient population base persist, necessitating extensive research activities to develop innovative and therapeutically diverse neurovascular products. Notable developments include the rise of ischemic stroke cases, prompting the emergence of companies like Oxford Endovascular, supported by organizations like EIT Health, focusing on addressing this segment. Additionally, organizations like the Brain Aneurysm Foundation and NHS England play vital roles in raising awareness and supporting research efforts. The market landscape encompasses a wide range of players, including manufacturers, research institutes, and developing countries, with key industry trends revolving around pricing and patent analysis. Moreover, knowledge sharing through conferences and webinars is facilitating insights into market dynamics.

Products addressing conditions such as cerebral aneurysms and arteriovenous malformations & fistulas are utilized across various healthcare settings, including hospitals & surgical centers, ambulatory care centers, research laboratories, and academic institutes. In summary, the market for interventional neurology devices is propelled by technological innovation, growing demand for minimally invasive procedures, and increasing incidences of neurological disorders. Strategic partnerships, coupled with ongoing research efforts, are essential in addressing challenges and driving continued growth and innovation within the industry.

Neurovascular Devices Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 5.44%
Market growth 2022-2026	USD 955.15 million
Market structure	Fragmented
YoY growth (%)	4.29
Regional analysis	North America, Europe, Asia, and Rest of World (ROW)
Performing market contribution	North America at 37%
Key consumer countries	US, Canada, Denmark, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Acandis GmbH, Asahi Intecc Co. Ltd., BALT Group, Cerus Endovascular Inc., Evasc Medical Systems Corp., Imperative Care, Integer Holdings Corp., Integra LifeSciences Corp., Johnson and Johnson Inc., Kaneka Corp., Lepu Medical Technology (Beijing) Co. Ltd., Medtronic Plc, MicroPort Scientific Corp., Penumbra Inc., Perflow Medical Ltd., phenox GmbH, Rapid Medical, SENSOME, Stryker Corp., and Terumo Corp.
Market dynamics	Parent market analysis, market growth and forecasting, Market forecasting, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market growth analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Neurovascular Devices Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive market growth during the next five years
• Precise estimation of the market size and its contribution to the parent market
• Accurate predictions on market growth and trends and changes in consumer behavior
• market research and growth across North America, Europe, Asia, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information on companies
• Comprehensive market analysis and report on the factors that will challenge the growth of market companies

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