Global Interventional Neurology Devices Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2012-2016 and Forecast 2017-2023

16/feb/2018 12:11:11 pbi Contatta l'autore

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Interventional neurology is a speciality which utilizes the minimally invasive procedures with image-guided techniques for the diagnosis and treatment of various chronic neurological diseases related to veins & arteries of neck, brain, and spine. The most commonly treated diseases with interventional neurology include head and neck tumours, ischemic strokes, meningiomas, spinal vascular malformations, cerebral aneurysm, and intracranial atherosclerosis among others. Different types of materials such as cobalt, platinum, and nitinol are used in neurovascular devices for ischemic stroke prevention and aneurysm.

 

 

Increase in the global aging population, technological advancements in the interventional neurology devices, a rise in prevalence of ischemic stroke and hemorrhagic conditions, and growing demand for minimally invasive procedures are anticipated to fuel the interventional neurology devices market. Furthermore, advantages of an interventional procedure such as the minimal possibility of infection and surgical trauma, favourable reimbursement policies, and rise in product development and commercialization are expected to bolster the interventional neurology devices market over the forecast period. However, stringent regulatory guidelines for the product approvals, a high cost of the treatment, and lack of skilled professionals might impede the growth of  interventional neurology devices market

 

 

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Interventional neurology devices market has been segmented into product type, technology type, indication, and end user

 

Based on the product type, interventional neurology devices market segmented into the following:

·         Cerebral Balloon Angioplasty and Stenting Systems

o    Embolic Protection Systems

o    Carotid Artery Stents

·         Neurothrombectomy Devices

o    Suction and Aspiration Devices

o    Clot Retrievers

o    Snares

·         Support Devices

o    Catheters

o    Guide Wires

·         Aneurysm Coiling and Embolization Devices

o    Flow Diversion Devices

o    Embolic Coils

o    Liquid Embolic Agents

 

Based on the technology type, interventional neurology devices market segmented into the following:

·         Carotid artery angioplasty and stenting

·         Vertebroplasty

·         Stroke therapy

·         Pre-operative tumour embolization

 

Based on the indication, interventional neurology devices market is segmented into the following:

·         Cerebral aneurysm

·         Ischemic strokes

·         Arteriovenous malformations and Fistulas

·         Others

 

Based on the end user, interventional neurology devices market segmented into the following:

·         Hospitals

·         Neurology Clinics

·         Ambulatory surgical centres

 

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Interventional neurology devices market is growing at a significant CAGR owing to increase in the demand for minimally invasive neurological surgical procedures. Rise in the prevalence of neurological disorders (according to World Health Organization, more than 6.8 Mn people are dying from neurological disorders) expected to drive the revenue growth of interventional neurology devices market. Moreover, majority of the market players are focusing on the development of novel devices with minimally invasive techniques. Acquisitions and mergers, collaborations, product approvals, and launchings are strategies followed by the companies for dominating the interventional neurology devices market. For instance, in June 2016, Terumo Corporation acquired Sequent Medical, Inc. for the development of novel medical device for the aneurysm embolization. Moreover, in January 2012, Covidien received FDA approval for the Solitaire revascularization device interventional management of stroke trial.

 

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Geographically interventional neurology devices market is segmented into North America, Latin America, Middle East and Africa, Asia Pacific, and Europe. North America holds a significant share in interventional neurological devices market owing to increase in the prevalence of cerebrovascular disorders majorly in U.S., which is approximately 1,683 per 100,000 population. Moreover, rise in technological advancements, approval of novel products by FDA, and increase in healthcare expenditure are driving the interventional neurology devices market. Europe has a lucrative growth due to increase in prevalence of neurological disorders majorly in Russia, Latvia, Bulgaria, and Lithuania. In addition, technological advances in interventional neurological devices, well-developed healthcare infrastructure, and product approvals from EMEA are anticipated to bolster the interventional neurology devices market in the region. However, Asia Pacific is an emerging region for interventional neurology devices market due to rise in geriatric population majorly in India, China, and Japan, increase in the medical tourism, and growing demand for minimally invasive procedures in the region.

 

 

Some of the players in interventional neurology devices market are Medtronic plc) (Ireland), Stryker Corporation (U.S.), Depuy Synthes (Johnson and Johnson Services Inc.) (U.S.), Abbott Laboratories (U.S.), Terumo Corporation (Japan), Bayer AG (Germany), Boston Scientific, Corporation (U.S.), and Penumbra, Inc. (U.S.) to name a few.

 

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