Neurovascular Devices Market Soars to USD 4.51 Billion by 2030, Fueled by Rising Stroke Incidences and Innovative Medical Technologies
(WorldFrontNews Editorial):- Austin, Texas Oct 20, 2023 (Issuewire.com) – Based on SNS Insider’s research, The Neurovascular Devices Market is experiencing robust growth and transformative innovations, expanding its scope and impact on the healthcare industry despite global challenges, including the recent economic recession and the ongoing Russia-Ukraine conflict. This market’s resilience underscores its crucial role in advancing interventional neurology and patient care.
The Neurovascular Devices Market Size was valued at USD 2.81 billion in 2022 and is expected to reach USD 4.51 billion by 2030 and grow at a CAGR of 6.1% over the forecast period 2023-2030.
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Market Scope:
The Neurovascular Devices Market encompasses a wide range of medical devices and technologies designed for the treatment and management of neurovascular conditions. These devices include stents, embolic coils, neurovascular catheters, flow diverters, and neuro-thrombectomy devices.
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Major Players Listed in the Report are as Follows:
Johnson and Johnson Services Inc., Penumbra, Inc., Microport Scientific Corporation, Stryker, Microvention Inc (Terumo Corporation), Codman Neuro (Integra Lifesciences), Medtronic, and other players.
Market Analysis:
The Neurovascular Devices Market’s growth can be attributed to several pivotal factors:
- Interventional Neurology Advancements: Advances in interventional neurology have led to the development and adoption of innovative neurovascular devices, which are instrumental in the treatment of cerebral aneurysms, strokes, and other neurovascular disorders.
- Patient-Centric Care: The market aligns with the healthcare industry’s growing emphasis on patient-centric care, as neurovascular devices play a crucial role in improving patient outcomes and quality of life.
- Digital Technology Integration: The integration of digital technology and medical imaging in neurovascular devices has enhanced the precision and effectiveness of neurovascular interventions.
- Economic Recession: Despite the recent economic challenges, the market has continued to thrive, as the importance of advancing neurovascular treatment options remains a global priority.
- Geopolitical Tensions: The ongoing Russia-Ukraine conflict has not deterred the market’s growth. The need to improve neurovascular care transcends borders, emphasizing the market’s resilience.
Neurovascular Devices Market Segmentation as Follows:
By Device Type
- Cerebral Embolization and Aneurysm Coiling Devices
- Embolic Coils
- Liquid Embolic Agents
- Flow Diverters
- Cerebral Angioplasty and Stenting Systems
- Embolic Protection Devices
- Carotid Artery Stents
- Neurothrombectomy Devices
- Clot Retrieval Devices
- Vascular Snares
- Suction Devices
- Support Devices
- Micro Guidewires
- Micro Catheters
By Therapeutic Application
- Stroke
- Cerebral Artery Stenosis
- Cerebral Aneurysm
- Aneurysmal Subarachnoid Hemorrhage
- Others
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Impact of Recession:
The Neurovascular Devices Market has experienced sustained growth during the recent economic recession, driven by the critical role these devices play in improving patient outcomes and reducing the long-term costs associated with neurovascular conditions.
Impact of Russia-Ukraine War:
Despite global geopolitical tensions, the Neurovascular Devices Market remains strong. The importance of advancing interventional neurology and providing effective treatment options for neurovascular conditions is universally recognized.
Key Regional Development:
North America, Europe, and Asia-Pacific are the primary regions driving the global Neurovascular Devices Market. These regions have advanced healthcare systems, research institutions, and a strong commitment to improving neurovascular care.
Key Takeaway from Neurovascular Devices Market Study:
The Neurovascular Devices Market’s sustained growth in challenging economic and geopolitical conditions underscores its essential role in advancing interventional neurology and improving patient care. The market’s resilience highlights its enduring significance.
Recent Developments Related to the Neurovascular Devices Market:
Recent innovations in the Neurovascular Devices Market include the development of next-generation stent technologies, enhanced imaging techniques, and minimally invasive treatment options for complex neurovascular conditions.
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Table of Content
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Neurovascular Devices Market Dynamics
Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)
Chapter 5 Value Chain Analysis
Chapter 6 Porter’s 5 forces model
Chapter 7 PEST Analysis
Chapter 8 Neurovascular Devices Market Segmentation, By Device Type
Chapter 9 Neurovascular Devices Market Segmentation, By Therapeutic Application
Chapter 10 Regional Analysis
Chapter 11 Company profile
Chapter 12 Competitive Landscape
Chapter 13 Use Case and Best Practices
Chapter 14 Conclusion
Conclusion:
The Neurovascular Devices Market’s growth during challenging times demonstrates its integral role in advancing interventional neurology, improving patient outcomes, and reducing the burden of neurovascular disorders. The market’s ability to thrive and adapt to changing circumstances underscores its enduring importance in the healthcare industry.
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