The global neurovascular devices / interventional neurology market is projected to grow at a CAGR of 5.08% during the forecast period, 2021-2028. The growing elderly population, prevalence of neurovascular diseases, neurological diseases, and demand for minimally invasive procedures propel the market growth.
Neurovascular devices include coil assist stents, flow diversion stents, embolic coils, clippings, etc. They are used to treat disorders related to blood vessels. For example, the complex forms of aneurysms are treated using coated coils. The growing incidence of neurovascular conditions drives the market growth. Neurovascular systems primarily depend on the continuous supply of oxygen and nutrients carried by veins and arteries. The oxygen and nutrients supply is vital for its working. A defect in the system can hinder its function, thereby becoming a life-threatening factor. Neurovascular conditions, disorders, or diseases include brain aneurysm, brain tumors, vascular malformation, hemorrhage, stroke, etc. The estimated causes of neurovascular diseases are genetic disorders, related chronic diseases, and lifestyle habits.
One of the neurovascular diseases significantly prevalent across the world is the cerebral aneurysm. It is also known as an intracranial aneurysm. It is a bulging area of the brain artery. The bulging further results in abnormal widening. With the presence of a weak spot in the aneurysm wall, there is a risk of rupture of aneurysm bursting. The most common type of cerebral aneurysm is a saccular aneurysm. It occurs in 90% of cerebral aneurysms. However, the lack of an adequate number of trained neurosurgeons and the exorbitant cost of neurovascular devices hamper the market growth.
The global neurovascular devices / interventional neurology market growth evaluation includes the analysis of North America, Asia-Pacific, Europe, and Rest of World. North America is the major region in the global market with the rising incidence of neurovascular diseases, surging aging population, and product developments.
The competitive rivalry is estimated to be high given the growing number of mergers & acquisitions and products launched by major market players. Some prominent market players include Johnson & Johnson (Cerenovus), B Braun Melsungen AG, Integer Holdings Corporation, Microport Scientific Corporation, Acandis GmbH, etc.
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