SAN FRANCISCO, April 3, 2019 /PRNewswire/ -- The global neurovascular devices market size is estimated to reach USD 3.1 billion by 2026, according to a new report by Grand View Research, Inc. The market is estimated to expand at a CAGR of 5.3% over the forecast years. Preference for minimally invasive surgeries in the treatments of brain aneurysm and stroke is expected to be the key factor augmenting the market growth.
Key suggestions from the report:
- Cerebral embolization and aneurysm coiling devices accounted for the majority of the global market share in 2018
- In 2018, stroke was estimated to be the most prevalent therapeutic application for neurovascular devices
- Cerebral aneurysm is projected to be the fastest-growing therapeutic application with a CAGR of 6.0% during the forecast period
- Japan is a major revenue-generator in Asia Pacific region as nearly one in three Japanese people are older than 60 years
- Key companies in this market include Abbott Laboratories; W. L. Gore & Associates, Inc.; Medtronic, Inc.; Stryker Corporation; and Merit Medical Systems, Inc.
Read 110 page research report with TOC on "Neurovascular Devices Market Size, Share & Trends Analysis Report By Therapeutic Application (Stroke, Cerebral Artery Stenosis, Cerebral Aneurysm), By Device Type, By Region, And Segment Forecasts, 2019 - 2026" at: https://www.grandviewresearch.com/industry-analysis/neurovascular-devices-market
Technological advancements have increased life expectancy, leading to a consequent increase in geriatric population. According to a report published by United Nations, geriatric population (aged 60 years and above) is projected to increase by 56% from 901 million in 2015 to 1.4 billion by 2030. Therefore, rise in aging population across the globe is anticipated to impel the demand for neurovascular devices.
The market holds immense growth potential, and hence, manufacturers are focus on R&D to develop advanced products. Technological developments in the field of neurovascular therapy, such as development of GORE TIGRIS by W L Gore and SpiderFX distal filter embolic protection device by Medtronic, are expected to serve as a high impact rendering driver.
North America was the largest regional market in 2018 in terms of revenue and is expected to continue its dominance through the forecast period. Asia Pacific is anticipated to be the fastest-growing region with a CAGR of 6.0% in the estimated time. Wide adoption of innovative treatment approaches and growing per capita income, especially in the developing economies, are boosting the market growth in this region.
Grand View Research has segmented the global neurovascular devices market on the basis of device type, therapeutic applications, and region:
- Neurovascular Device Type (Revenue, USD Million, 2014 - 2026)
- Cerebral Embolization and Aneurysm Coiling
- Embolic Coils
- Flow Diversion
- Liquid Embolic Agents
- Cerebral Angioplasty and Stenting Systems
- Carotid Artery Stents
- Embolic Protection Systems
- Clot Retrieval
- Vascular Snares
- Micro Catheters
- Micro Guidewires
- Neurovascular Devices Therapeutic Application Outlook (Revenue, USD Million, 2014 - 2026)
- Cerebral Artery Stenosis
- Cerebral Aneurysm
Neurovascular Devices Regional Outlook (Revenue, USD Million, 2014 - 2026)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
Find more research reports on Medical Devices Industry, by Grand View Research:
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- Hernia Repair Devices Market – Global hernia devices market is growing at a significant rate due to increase in hernia cases, rising geriatric population base and growing acceptance of robotic surgeries.
- Spinal Implants Market – Global spinal implants market was estimated at over USD 7.5 billion in 2014. Growing adoption rates due to advantages of minimally invasive devices including lesser scarring, faster recovery, low infection and bleeding risks, and less hospital stay duration, is a growth driving factor.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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