The market for Neurovascular Devices Market is expected to grow significantly due to factor as increasing inclination of pharmaceutical and medical device manufacturers towards outsourcing, increasing patent cliffs and rising geriatric population coupled with the increasing production of drugs & medical devices. However, the challenge such as lack of skilled professionals for CMO likely to impact the growth of the market in the forecast period.
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What this report contains:
1. Market Dynamics
2. Competitive Analysis
3. Market Trends and Market Forecasts
4. Market Share and Market Size
5. Opportunity and Customer Analysis
6. Product Price Survey
According to a new market research study titled ‘Neurovascular Devices Market to 2027 – Global Analysis and Forecasts by Product, Application, End User and Geography, the global neurovascular devices market is expected to reach US$ 3,878.51 Mn in 2027 from US$ 2,919.41 Mn in 2018. The market is estimated to grow with a CAGR of 3.2% from 2019-2027. The report highlights the trends prevalent in the global neurovascular devices market and the factors driving the market along with challenges to its growth.
Leading Neurovascular Devices Market Players:
• Medtronic plc
• Stryker Corporation
• Johnson & Johnson Services, Inc.
• Acandis GmbH & Co. KG.
• MicroPort Scientific Corporation
• Terumo Corporation
• Penumbra, Inc.
• phenox GMBH
• Integer Holdings Corporation
• Memry Corporation
Neurovascular Devices – MARKET SEGMENTATION
Global Neurovascular Devices Market – By Product
• Neurothrombectomy Devices
o Clot Retrieval Devices
o Suction & Aspiration Devices
• Aneurysm Coiling & Embolization Devices
o Embolic Coils
Bare Detachable Coils
Coated Detachable Coils
o Flow Diversion Devices
o Liquid Embolic Agents
• Cerebral Balloon Angioplasty & Stenting Systems
o Carotid Artery Stents
o Embolic Protection Systems
Balloon Occlusion Devices
• Support Devices
The market for neurovascular devices is expected to grow significantly due to factors such as increasing incidences of neurovascular diseases, rising demand for minimally invasive procedures, and significantly growing aging population. However, factor such as high cost of embolization coils and lack of expert professionals are the major restraining factors for the growth of the market.
Organic and inorganic growth strategies were observed in global neurovascular devices industry. The organic strategies were conducted more compared to the inorganic strategies for the neurovascular devices. For instance, in July, 2019, Penumbra Inc. has launched its JET 7 Reperfusion Catheter which has been incorporated with the XTRA FLEX Technology. The product is considered to be useful for physicians to extract thrombus in acute ischemic stroke patients. Thus, the organic strategy has enabled the company to grow its business in the market.
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