(PharmaNewsWire.Com, March 29, 2021 ) The market is expected to reach USD 2.62 Billion by 2021 at a CAGR of 8.6% during 2016 to 2021.
On the basis of products, the market is segmented into aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, support devices, and neurothrombectomy devices. The cerebral balloon angioplasty & stenting systems segment is expected to witness highest market growth during the forecast period. The market growth is being driven by growing availability of technologically advanced carotid artery stents across major markets, rising public-private research funding to develop innovative products, growing adoption of carotid stents and balloons among neurosurgeons, and expansion in patient population suffering from atherosclerosis and ischemic stroke.
On the basis of disease pathology, the market is segmented into ischemic strokes, cerebral aneurysm, arteriovenous malformations & fistulas, and other diseases. The ischemic strokes segment is poised to be the fastest growing segment during the forecast period owing to growing incidence of ischemic stroke (coupled with exposure of larger proportion of global population to major risk factors such as smoking and diabetes), and increasing patient preference for minimally invasive therapeutic alternatives.
On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is the fastest-growing geographic segment in the neurovascular devices/interventional neurology market. The large market growth of this geographic segment can be attributed to the presence of a large patient population base for target diseases, rising awareness among neurosurgeons related to the benefits offered by interventional neurology devices, and ongoing government initiatives to modernize & expand healthcare infrastructure.
As of 2015, Stryker Corporation (U.S.), Medtronic plc (U.S.), Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc. (U.S.), Abbott Laboratories (U.S.), Merit Medical Systems, Inc. (U.S.), W. L. Gore & Associates, Inc. (U.S.), and MicroPort Scientific Corporation (China) are some of the key players operating in the global market.
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledgestore” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
We are pleased to offer you this exciting, new, and entirely free professional resource. Visit our Free Biotechnology & Pharmaceuticals resource center today to browse our selection of 600+ complimentary Biotechnology & Pharmaceuticals magazines, white papers, webinars, podcasts, and more. Get popular titles including:
