Interventional Neurology Market Overview, Opportunities, Profile and Global Industry Analysis To 2027
Interventional
Neurology Market Research Report: By Disease Pathology (Cerebral Aneurysms,
Ischemic Strokes, & Others), Product (Aneurysm Coiling & Embolization,
Neurothrombectomy, Support Devices, & Others), End User – Global Forecast
Till 2027
Interventional Neurology Market Highlights
The Global Interventional Neurology Market
is expected to grow at an approximate CAGR of 7.8% during forecast period,
2018–2023.
Increasing participation of
market players is the key factor driving the interventional neurology market.
For instance, in 2018, Rapid Medical announced CE Mark approval in the European
Union for its Tigertriever 13 stent retriever for the treatment of ischemic
stroke.
Various other factors such as
technological advancements, presence of a large target patient population,
favourable medical reimbursements and growing demand for effective
neurovascular devices are also expected to propel the growth of the market.
However, lack of skilled
neurosurgeons and stringent regulations can hinder the market growth over the
forecast period.
Segmentation
The Global interventional
neurology market is segmented based on disease pathology, product, end user and
region.
The Global market for
interventional neurology, by disease pathology is segmented into cerebral
aneurysms, arteriovenous malformation and fistulas, ischemic strokes, and
others.
The market, by product, is
segmented into aneurysm coiling & embolization devices, cerebral balloon
angioplasty and stenting systems, neurothrombectomy devices, and support
devices. The aneurysm coiling & embolization devices segment is further
classified as embolic coils, flow diversion devices, and liquid embolic agents.
The embolic coils segment includes bare detachable coils, and coated detachable
coils. The cerebral balloon angioplasty and stenting systems segment is further
classified as carotid artery stents, and embolic protection systems. The
embolic protection systems segment includes distal filter devices, and balloon
occlusion devices. The neurothrombectomy devices are further classified as clot
retrieval devices, suction and aspiration devices, and snares. The support
devices are further classified as microcatheters, and microguidewires.
Based on end user, the market
is segmented into hospitals & clinics, ambulatory surgical centers,
research & academic institutes, and others.
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Regional
Analysis
The Americas dominated the
global market for interventional neurology owing to presence of major market
players and rising geriatric population.
In 2017, it was estimated that
Europe stood second in the global interventional neurology market. This can be
attributed to the rising research and development investments.
Asia Pacific was projected to
be the fastest growing region in 2017. Factors such as growing healthcare
sector, increasing penetration of the market players within the region, and
increasing healthcare expenditure drives the regional markets of the Asia
Pacific region.
On the other hand, the Middle
East and Africa held least share in the global interventional neurology market
due to the low per capita income, especially within the African region. The
growth in this region is attributed to the rising cases neurological
conditions. The burden of neurological disorders in African region has been
increasing over the years. The annual incidence of stroke has been estimated to
be 316 per 100 000 in Africa.
Key
Players
Some of the key players in the
global interventional neurology market are Abbott Laboratories, Johnson &
Johnson, Boston Scientific Corporation, Stryker Corporation, Medtronic PLC,
Terumo Corporation, Penumbra, Inc., Microport Scientific Corporation, Merit
Medical Systems, Inc., W.L. Gore & Associates, Inc., B. Braun Melsungen AG,
Cook Medical, and others.
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