NEW YORK, Oct. 22, 2015 /PRNewswire/ -- The global neurovascular devices/interventional neurology market is poised to reach ~$2,370.4 million by 2020, growing at a CAGR of 8.4% from 2015 to 2020. North America is expected to hold the largest share of 47.3% of the global market in 2015. Market growth is being propelled by growing target patient population, technological advancements in the field of interventional neurosurgeries, favorable medical reimbursement scenario across mature markets, and expanding healthcare infrastructure in developing countries. However, factors such as ongoing healthcare reforms in the U.S. and a dearth of skilled neurosurgeons are restraining the growth of this market. In addition, stringent regulatory policies (that regulate product development and commercialization) across major markets are posing significant challenges for the growth of the neurovascular devices/interventional neurology market during the forecast period.
In this report, the global neurovascular devices/interventional neurology market is segmented on the basis of technology (embolization & coiling, carotid artery angioplasty & stenting, supporting techniques, and neurothrombectomy) and product (cerebral balloon angioplasty & stenting systems, aneurysm coiling & embolization devices, support devices, and neurothrombectomy devices). The aneurysm coiling and embolization devices segment is expected to account for the largest share of the global neurovascular devices/interventional neurology market in 2015, followed by cerebral balloon angioplasty & stenting systems. The cerebral balloon angioplasty & stenting systems segment is expected to grow at the highest CAGR during the next five years owing to factors such as an increasing number of researches, rising public-private funding to develop novel carotid stents & occlusion catheter products, and growing availability of technologically advanced stents & embolic protection devices across major markets (such as Europe, Japan, and the U.S.).
Geographically, North America (comprising the U.S. and Canada) is expected to command the largest share of the global neurovascular devices/interventional neurology market in 2015, followed by Europe. Asia-Pacific is also poised to grow at the highest CAGR during the forecast period, owing to factors such as the presence of a large patient population base for target diseases, rising awareness among neurosurgeons (related to benefits offered by interventional neurology devices during neurosurgery), ongoing government initiatives to modernize & expand respective healthcare infrastructure, and increasing adoption due to decreasing prices of interventional neurology devices in Asia-Pacific.
The global neurovascular devices/interventional neurology market is moderately competitive, with various global as well as local players. In 2014, the global neurovascular devices/interventional neurology devices market was dominated by Stryker Corporation (U.S.), Medtronic, plc (U.S.), Johnson & Johnson (U.S.), Terumo Corporation (Japan), and Penumbra, Inc. (U.S.), which together accounted for ~87.0% of the neurovascular devices/interventional neurology market. Geographic expansion, strategic acquisitions, new product launches, agreements, and collaborations are the major strategies adopted by most market players to achieve growth in the global neurovascular devices/interventional neurology market.
Reasons to buy the report:
From an insight perspective, this research report has focused on various levels of analysis such as market share analysis of the top ten players and company profiles, which together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the neurovascular devices/interventional neurology market, and high-growth regions and their respective drivers, restraints, challenges, and opportunities.
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn help firms to garner higher market share. Firms purchasing the report could use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the neurovascular devices/interventional neurology products offered by the top 10 players in the global market. The report analyzes the neurovascular devices/interventional neurology market by product, application, and end user across key geographic regions
- Product Development/Innovation: Detailed insights on upcoming neurovascular devices/interventional neurology technologies, research and development activities, and new product launches in the market
- Market Development: Comprehensive information on lucrative emerging markets. The report analyzes the markets for various neurovascular devices/interventional neurology products across key geographic regions
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the global neurovascular devices/interventional neurology market
- Competitive Assessment: In-depth assessment of market shares, strategies, products, distribution networks, and manufacturing capabilities of leading players in the global neurovascular devices/interventional neurology market
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