Neurovascular Devices Market Worth $3.1 Billion By 2026 | CAGR: 5.3%

The global neurovascular devices market size is estimated to reach USD 3.1 billion by 2026. The market is estimated to expand at a CAGR of 5.3% over the forecast years. Preference for minimally invasive surgeries in the treatments of brain aneurysm and stroke is expected to be the key factor augmenting the market growth.

Technological advancements have increased life expectancy, leading to a consequent increase in geriatric population. According to a report published by United Nations, geriatric population (aged 60 years and above) is projected to increase by 56% from 901 million in 2015 to 1.4 billion by 2030. Therefore, rise in aging population across the globe is anticipated to impel the demand for neurovascular devices.

The market holds immense growth potential, and hence, manufacturers are focus on Ramp;D to develop advanced products. Technological developments in the field of neurovascular therapy, such as development of GORE TIGRIS by W L Gore and SpiderFX distal filter embolic protection device by Medtronic, are expected to serve as a high impact rendering driver.

North America was the largest regional market in 2018 in terms of revenue and is expected to continue its dominance through the forecast period. Asia Pacific is anticipated to be the fastest-growing region with a CAGR of 6.0% in the estimated time. Wide adoption of innovative treatment approaches and growing per capita income, especially in the developing economies, are boosting the market growth in this region.

Further key findings from the study suggest:

Cerebral embolization and aneurysm coiling devices accounted for the majority of the global market share in 2018

In 2018, stroke was estimated to be the most prevalent therapeutic application for neurovascular devices

Cerebral aneurysm is projected to be the fastest-growing therapeutic application with a CAGR of 6.0% during the forecast period

Japan is a major revenue-generator in Asia Pacific region as nearly one in three Japanese people are older than 60 years

Key companies in this market include Abbott Laboratories; W. L. Gore amp; Associates, Inc.; Medtronic, Inc.; Stryker Corporation; and Merit Medical Systems, Inc.

Grand View Research has segmented the global neurovascular devices market on the basis of device type, therapeutic applications, and region:

Neurovascular Device Type (Revenue, USD Million, 2014 - 2026)

Cerebral Embolization and Aneurysm Coiling

Embolic Coils

Flow Diversion

Liquid Embolic Agents

Cerebral Angioplasty and Stenting Systems

Carotid Artery Stents

Embolic Protection Systems

Neurothrombectomy

Clot Retrieval

Suction

Vascular Snares

Support

Micro Catheters

Micro Guidewires

Neurovascular Devices Therapeutic Application Outlook (Revenue, USD Million, 2014 - 2026)

Stroke

Cerebral Artery Stenosis

Cerebral Aneurysm

Others

Neurovascular Devices Regional Outlook (Revenue, USD Million, 2014 - 2026)

North America

U.S.

Canada

Europe

U.K.

Germany

Spain

France

Italy

Asia Pacific

Japan

India

South Korea

China

Australia

Latin America

Brazil

Mexico

Argentina

Middle East amp; Africa

South Africa

UAE

Saudi Arabia