Neurovascular Devices Market To Display Unparalleled Growth Over 2023-2032

Market Overview:

The neurovascular devices market is a growing market that includes devices used to diagnose and treat diseases of the blood vessels of the brain and spinal cord. These devices are used in minimally invasive procedures, which are becoming increasingly popular due to their lower risk and faster recovery time.

Neurovascular Devices market accounted for USD 2.8 billion and will reach USD 5.6 billion by 2032. Between 2023 and 2032, this market is estimated to register the highest CAGR of 7.3%.

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Market Key Takeaways :

The embolization devices segment is expected to lead the market by device type.
The stroke segment is expected to hold the largest share of the market by disease pathology.
Hospitals surgical centers are the largest end users of neurovascular devices.
The market growth is driven by a number of factors, including the increasing prevalence of neurovascular disorders, technological advancements in neurovascular devices, rising demand for minimally invasive procedures, and increasing awareness of neurovascular diseases and treatment options.

Market Key Players:

Medtronic plc
Johnson and Johnson Services Inc.
Penumbra, Inc
Microport Scientific Corporation,
Stryker
Microvention Inc.
Codman Neuro
Abbott
Terumo Corporation
Medilit Co. Ltd.
Evasc
Rapid Medical
Other Market Players

Regional Analysis:

-North America [United States, Canada, Mexico]
-South America [Brazil, Argentina, Columbia, Chile, Peru]
-Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
-Middle East Africa [GCC, North Africa, South Africa]
-Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]mailto:[email protected]

Market Top Segmentations:

Based on Technology

Aneurysm Coiling Embolization Devices
- Embolic Coils
- Flow Diversion Devices
- Liquid Embolic Agents
Cerebral Balloon Angioplasty Stenting Systems
- Carotid Artery stents
- Embolic Protection devices
- Balloon Catheters
Support Devices
- Microcatheters
- Guidewires
Neurothrombectomy Devices
- Clot Retrievals
- Suction Aspiration Devic
- Snares
- Other Technologies

Based On Disease Pathology

Ischemic Strokes
Cerebral Aneurysm
Carotid Artery Stenosis
Arteriovenous Malformations and Fistuals
Other Diseases

Based On Application

Stroke
Cerebral Artery
Cerebral Aneurysm
Aneurysmal Subarachnoid hemorrhage
Others
Other Applications

Based On End User

Hospitals Surgical Centers
Ambulatory Care Centers
Research Laboratories Academic Institutes
Other End Users

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Market Challenges:

High cost of devices and procedures: Neurovascular devices can be very expensive, and the procedures that use them can also be costly. This can limit the access to these devices and procedures for patients in developing countries and for patients who do not have good health insurance.
Stringent regulatory approvals: Neurovascular devices are subject to stringent regulatory approvals from regulatory agencies such as the US Food and Drug Administration (FDA). This can make it difficult and expensive for new companies to enter the market and for existing companies to launch new products.
Risks associated with neurovascular procedures: Neurovascular procedures are complex and carry some risks, such as stroke, hemorrhage, and nerve damage. This can deter some patients from seeking treatment.