The Asia-Pacific neurovascular devices / interventional neurology market growth is anticipated to progress at a CAGR of 5.29% during the forecast period, 2021-2028. The increasing geriatric population is the dominant factor fueling the market growth.
Australia & New Zealand, India, China, Thailand, Indonesia, Japan, Vietnam, South Korea, and Rest of Asia-Pacific are evaluated for the Asia-Pacific neurovascular devices / interventional neurology market growth analysis. In India, due to the prevalence of neurovascular diseases, there are increased market demands. This is also attributed to the less preventive strategies and unorganized management for stroke. There is rising utilization of endovascular treatment techniques. The drastic adoption of endovascular coiling has led to a transition in interventional neuroradiology.
Further, there is less awareness about stroke and even lesser awareness of neurovascular diseases in rural areas. Therefore, government initiatives are projected to influence market demands.
In Australia, the market growth is accredited to increasing burn injury cases. As per the Australian Bureau of Statistics, more than 700,000 Australians have brain injuries. The prevalence is due to the geriatric population and misbalance in their mobility. Neurological disorders account for almost 20.5% of the total disability globally. With rising concerns, there has been a rise in the number of research institutes for neurological disorders.
In Thailand, the number of Alzheimer’s patients is estimated to rise to 1,117,000 by 2030, thereby escalating market demands. According to the World Bank, the population is again rapidly. This increases the risk of neurological disorders like Alzheimer’s disease. Moreover, stroke is a major health burden in the country. Such factors make these countries conducive market for neurovascular devices.
Some of the prominent companies in the market include Microport Scientific Corporation, Penumbra Inc, Asahi Intecc, Memry Corporation, B Braun Melsungen AG, etc.
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