Global Neurointerventional Market 2017-2023 by Product Type, End-Users, and Regions
DUBLIN, August 14, 2017 /PRNewswire/ --
The "Global Neurointerventional Market Trends and Drivers, Restraints, and Opportunities 2017-2023" report has been added to Research and Markets' offering.
The Global Neurointerventional Devices Market is estimated to witness a CAGR of 12.3% during the forecast period 2017-2023. The Global Neurointerventional Devices Market is analyzed based on three segments, namely product type, end-users, and regions.
Factors, such as increased prevalence of neurological disorders, increasing awareness about new technologies, presence of large pool of patients in emerging markets, and advent of new innovative neurosurgical devices, such as flow diversion devices, neuroendovascular stents, liquid embolic, clot retrieval, and balloon catheters, are expected to drive the market growth during the forecast period.
The market is expected to witness substantial growth due to the emergence of the neurointerventional technology that has eventually propelled innovation related to neurosurgical devices with the involvement of minimally invasive technique. The Neurointerventional Devices Market in India, Brazil, and China are expected to grow at a rapid pace during the forecast period mainly due to the presence of patients affected with various neurosurgical disorders.
Neurointerventional devices continue to demonstrate substantial improvements in patient outcomes by delivering high-quality and life-sustaining treatments. This factor provides huge potential for the market growth in both developed and developing countries with a wide range of opportunities. Vendors are investing hugely in R&D for the development of new products to gain the major market share globally.
Europe accounted for the second largest market with chronic pain being one of the major complications with the rising cerebral disorder cases. In 2015, the public spending on healthcare in Europe amounted to 18% of the overall government expenditure. The expenditure on chronic pain care with neurostimulation devices is directly reimbursed to hospitals within the NHS. Clinical evidence of neurosurgical devices when compared to other treatment, such as drug therapy, is expected to increase during the forecast period. Every year, approximately three million individuals sustain stenosis (25% of these require hospitalization), one million have stroke, and more than one million people are diagnosed with brain tumors in this region. In the Middle East and Sub-Saharan Africa, the mortality rate due to stroke is expected to triple in the next few years and is expected to lead to increased hospitalization and permanent disabilities.
The Neurosurgical Devices Market revenue in APAC is expected to reach $1,320 million by 2023, growing at a CAGR of 16.80% during the forecast period 2017-2023. Factors, such as high prevalence of neurological diseases, the presence of a large pool of patients, increase in disposable income, and rise in awareness about treatment for complex neurosurgeries, drive substantial market growth. The increase in government spending in healthcare, infrastructure, research centers, and the establishment of manufacturing facilities by major vendors are influencing the high growth of the market.
Currently, the Global Neurointerventional Devices Market is dominated by aneurysm devices which have the maximum number of procedures and sales of flow diverters in the market. Vendors are focusing on investing a huge amount in R&D to develop new innovative products with newer applications to offer novel devices. Most of the vendors in the Global Neurointerventional Devices Market are focused on expanding their business through M&A, partnerships, and trade shows.
Big players, such as DePuy Synthes, Inc., Terumo Corp, Medtronic PLC, and Stryker Corp., along with the collaboration with other universities and neurological research centers for clinical trials of neurology diseases are coming up with new neurosurgical devices in the market. Significant investments in R&D and the increasing awareness about complex neurosurgical procedures in the Global Neurointerventional Devices Market are expected to boost the market growth.
Key Topics Covered:
1 Industry Outlook
2 Report Outline
3 Market Snapshot
4 Market Outlook
5 Market Characteristics
6 Types: Market Size and Analysis
7 End User: Market Size and Analysis
8 Regions: Market Size and Analysis
9 Competitive Landscape
10 Vendor Profiles
11 Companies to Watch For
Companies Mentioned
- ASAHI INTECC CO., LTD.
- B. Braun Melsungen AG
- BALT Extrusion S.A.
- Boston Scientific Corp.
- Cook Medical Inc.
- Cyberonics Inc. (LivaNova PLC)
- DePuy Synthes, Inc.
- Medtronic PLC
- Penumbra Inc.
- St. Jude Medical Inc. (now Abbott)
- Stryker Corp.
- Terumo Corp
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