The global neurointerventional devices market report offers in depth analysis of factors enabling growth across various key segments in terms of product, end user, and application.
Neurointerventional Devices Market to Grow by 2.1x as Market Players Emphasize Novel Product Launches
The global neurointerventional devices market report offers in depth analysis of factors enabling growth across various key segments in terms of product, end user, and application. The report also examines winning strategies adopted by the market players to gain competitive edge.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global neurointerventional devices market was worth US$ 2.3 bn in 2020 and is expected to expand by 2.1x, reaching a valuation of US$ 5 bn through 2031. As per the report, the global neurointerventional devices market is expected to register a CAGR of 8% during the forecast period of 2021 to 2031.
As neurological disorders are becoming more prevalent and are widely studied. Their treatments are becoming more effective and evolved. Technological developments in surgical procedures are changing dynamics of neurological treatments.
The neurointerventional devices market is largely driven by the demand rising largely on account for the increases cases of strokes, aneurysms, and brain tumors. Implementation of favorable policies to encourage research and development in healthcare will emerge as a chief growth driver for the market.
Popularity of minimally invasive procedures among neurosurgeons as well as patients is encouraging innovations in neurointerventional devices. Minimally invasive surgeries ensure lesser discomfort and ascertain faster healing. This will pave the way for technological advancements within the market.
According to the report, sales in North America are expected to pick up pace in the coming years. Presence of some of the leading market players will continue aiding expansion in the region. Besides this, demand in Europe will increase as a result of higher incidence of neurovascular diseases. This is expected to place Europe as the second-leading market for neurointerventional devices.
“As competition within the market is poised to soar, companies are emphasizing on commercializing their portfolio. Consequently, focus on approval from international organizations will remain a top priority for market players,” says the Fact.MR analyst.
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Key Takeaways
- The U.S. is expected spearhead growth in the North America neurointerventional devices market backed by presence of some of the leading market players.
- Germany will emerge as a competitive market for neurointerventional devices in Europe.
- India has seen a rise in the incidence of neurological disorders. This, coupled with expansion of healthcare infrastructure, has created a conducive environment for the expansion of the market in India.
- Embolic coils will dominate the global market in terms of product, due to their minimally invasive nature.
Growth Drivers
- Rising cases of neurological disorders are bolstering the demand for neurointerventional devices market.
- Increasing investment in studying neurological disorders and develop innovative devices to assist in treatment will support the expansion of the market.
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Competitive Landscape
Players operating in the global neurointerventional devices market are investing in research and development activities to launch novel and technologically advanced neurointerventional devices.
For instance, MIVI Neuroscience, a leading medical device company, announced closure of its series B funding round in January 2021. It was announced that the company will use the fund for commercializing MIVI’s new flagship products.
Similarly, Peija Medical’s subsidiary Achieva Medical, received approval for its novel launch, Jasper SS by the National Medical Products Administration in June 2021.
Some of the key players operating in the global neurointerventional devices market as profiled by Fact.MR are:
- Boston Scientific Corporation
- Medtronic plc
- St. Jude Medical, Inc.
- Nevro Corp.
- Nuvectra Corporation
- Stimwave Technologies Inc.
- Saluda Medical Pty Ltd.
More Insights on the Neurointerventional Devices Market
Fact.MR provides an unbiased analysis of the neurointerventional market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021 to 2031. It segments the market in terms of various categories. These include:
- By Product Type:
- Embolic Coils Neurointerventional Devices
- Neurovascular Thrombectomy Neurointerventional Devices
- Carotid Stents Neurointerventional Devices
- Flow Diverters Neurointerventional Devices
- Embolic Protection Neurointerventional Devices
- Stent Retrievers Neurointerventional Devices
- Intracranial Stents Neurointerventional Devices
- Liquid Embolic Neurointerventional Devices
- Intrasaccular Neurointerventional Devices
- Balloon Neurointerventional Devices
- By End User:
- Hospitals
- Ambulatory Surgical Centers
- By Application:
- Neurointerventional Devices for Coiling Procedures
- Neurointerventional Devices for Stenting
- Neurointerventional Devices for Cerebral Angiography
- Neurointerventional Devices for Neurothrombectomy Procedure
- Neurointerventional Devices for Flow Disruption
Key Questions Answered in Neurointerventional Devices Market Study
- The report offers detailed insights into neurointerventional devices demand outlook for 2021-2031
- The market study also highlights projected sales growth for neurointerventional devices market between 2021 and 2031
- Neurointerventional devices market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends, evaluation of current market size, and technological advancements within the industry
- Neurointerventional devices market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others
Explore Fact.MR’s Coverage on the Healthcare Domain
Rare Neurological Disease Treatment Market - Rapid advancements in healthcare, as well as dramatic socioeconomic changes that result in altered lifestyles, provide opportunities for manufacturers to expand their footprint in the rare neurological disease treatment market. North America is poised to be the leading region in the global rare neurological disease treatment market in 2019, accounting for a 2/5th market share due to well-established healthcare infrastructure and ongoing emphasis on R&D in drugs and treatment of rare diseases.
Minimally Invasive Surgery Market - Technological advancements in the healthcare industry, as well as an increase in preference for painless surgical procedures such as robotic surgery, laparoscopic surgery, and others, are expected to drive supplier sales. The demand for bariatric minimally invasive surgery and cosmetic minimally invasive surgery is also rising. Growing adoption of robotic-assisted surgeries and advancements in image guidance systems have shaped investments in the minimally invasive surgery market.
Wireless Neurostimulator Market - Some of the technical drivers for the wireless neurostimulator market include the growing potential of wireless neurostimulator wearables as a result of technological advancements in wave generation and wave forms, as well as the growing trend of smart devices that simplify recording, storing, and analysing data. The advancement of non-invasive, affordable, and user-friendly devices, as well as the development of apps to control these devices, is driving the development of wireless neurostimulator products.
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Source: Fact.MR