Neurovascular Devices Market Size, Rising Trends, Revenue, Demand, CAGR Status, Challenges, Share, Growth Drivers, Key Players, Forecast till 2034: SPER Market Research
Neurovascular Devices Market
Neurovascular devices are used to treat neurovascular diseases. Neurovascular devices, such as clips, coils, and stents, are used to treat neurovascular illnesses such brain aneurysms. Similarly, clot retrieval devices, suction, and aspiration equipment are used to remove blood clots from the brain’s arteries and veins, which can result in catastrophic disorders such as stroke. Carotid artery stents, distal filter devices, and microcatheters are some more types of neurovascular devices. Furthermore, neurovascular devices are used to treat aneurysms, arteriovenous malformation and fistulas, ischemic stroke, and stenosis.
According to SPER market research, ‘Global Neurovascular Devices Market Size- By Device, By Therapeutic Application, By End-Use – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Neurovascular Devices Market is predicted to reach 9.24 billion by 2034 with a CAGR of 8.95%.
Drivers: The market is growing due to the rising number of neurovascular disorders, improvements in medical technology, and a stronger focus on minimally invasive procedures. As conditions like stroke, cerebral aneurysms, and Arteriovenous Malformations (AVM) increase, so does the need for effective treatments. Minimally invasive surgeries are preferred for their lower risks and quicker recovery times. Smaller cuts reduce pain after surgery, leading to more people adopting these methods. Major companies are investing in research and development for new minimally invasive surgical tools. One popular method is endovascular coiling for intracranial aneurysms, which uses platinum coils to prevent blood flow to the aneurysm.
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Restraints: High procedure costs for neurovascular procedures and related goods
The global market is being held back by the high cost of neurovascular surgical procedures and equipment, particularly in poorer nations with inadequate reimbursement systems. Furthermore, the overall cost of ownership of these devices is raised by maintenance fees and other related indirect expenditures, which restricts their uptake. Few patients in impoverished nations can afford neurological therapy due to high prices and a poor reimbursement environment. Because of this, medical facilities are hesitant to spend money on new or cutting-edge technology, which restricts the market.
Global Neurovascular Devices Market Key Players:
The North American neurovascular devices market dominated the market in 2024 because to the presence of significant manufacturers such as Penumbra, Inc, Stryker Corporation, Johnson & Johnson, and Merit Medical Systems, Inc. in the area. Furthermore, the rising frequency of neurological illnesses and the growing demand for less invasive surgical techniques are propelling market expansion in this area.
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.
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Neurovascular Devices Market Share
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