Neurovascular devices are used to treat various neurovascular illnesses. Neurovascular devices include clips, coils, and stents, which are used to treat neurovascular illnesses such as brain aneurysms. Similarly, clot retrieval, suction, and aspiration equipment are used to remove blood clots from the brain's arteries and veins, which can cause catastrophic disorders such as stroke. Other neurovascular devices include carotid artery stents, distal filter devices, and microcatheters. Furthermore, neurovascular devices are used to treat aneurysms, arteriovenous malformations and fistulas, ischemic strokes, and stenosis.
Drivers: The market is influenced by the increasing number of neurovascular disorders, improvements in medical technology, and a growing interest in minimally invasive procedures. As conditions like stroke, cerebral aneurysms, and Arteriovenous Malformations (AVM) become more prevalent, the need for effective treatments rises. Minimally invasive surgeries are favored due to their lower risks and trauma. Smaller cuts lead to less pain after surgery and quicker recovery, boosting their use and encouraging research and development. Key players are investing in innovating minimally invasive surgical tools. Endovascular coiling is a recommended procedure for treating intracranial aneurysms using platinum coils to promote clotting.
Challenges: The high cost of neurovascular surgical treatments and equipment is a key barrier to the worldwide market, particularly in underdeveloped countries with inadequate reimbursement policies. Furthermore, maintenance charges and other associated indirect expenses raise the overall cost of ownership for these devices, restricting their adoption. Due to exorbitant prices and a bad reimbursement environment, only a small percentage of patients in poorer nations can afford neurological therapy. As a result, healthcare facilities are hesitant to invest in new or technologically advanced technologies, thereby restricting the market.
Market Trends: Technological advances in genetics and proteomics have created new opportunities for customized treatment in neurovascular care. Neurovascular devices are being designed to meet the particular demands of individual patients, resulting in improved treatment outcomes and fewer problems. The market is likely to rise further in the approaching years, owing to an increase in neurological illnesses, regulatory approvals, and technical improvements. Neurovascular devices, with a focus on patient safety and improved outcomes, are poised to revolutionize the diagnosis and treatment of neurovascular diseases.
Global Neurovascular Devices Market Key Players:
Medtronic, Stryker Corporation, Terumo Corporation, Penumbra, Inc, Johnson & Johnson Services, Inc, Integra LifeSciences Corporation, Acandis GmbH, Spiegelberg GmbH & Co. KG, MicroPort Scientific Corporation, and ZYLOX-TONBRIDGE MEDICAL TECHNOLOGY CO, LTD are just a few of the major market players that are thoroughly examined in this market study along with revenue analysis, market segments, and competitive landscape data.
Global Neurovascular Devices Market Segmentation:
By Device: Based on the Device, Global Neurovascular Devices Market is segmented as; Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices, Trans Radial Access Devices.
By Therapeutic Application: Based on the Therapeutic Application, Global Neurovascular Devices Market is segmented as; Stroke, Cerebral Artery, Cerebral Aneurysm, Others.
By End Use: Based on the End Use, Global Neurovascular Devices Market is segmented as; Hospitals, Specialty Clinics, Others.
By Region: This research also includes data for North America, Latin America, Asia-Pacific, Europe, Middle East & Africa.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.