Global Neurovascular Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Neurovascular Devices Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Neurovascular devices are used for the diagnosis and treatment of vascular diseases in the central nervous system. The neurovascular devices include aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems, support devices, and neurothrombectomy devices.

Market Overview:

The latest research study on the global Neurovascular Devices market finds that the global Neurovascular Devices market reached a value of USD 2685.59 million in 2022. It’s expected that the market will achieve USD 4285.72 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.

Influence of COVID-19 Outbreak on Neurovascular Devices Industry Development

Since 2019, the sudden COVID-19 epidemic has swept the world, which has had a great impact on all walks of life. Closed management and less medical resources in many cities have affected the Patients with vascular diseases and central nervous system diseases to varying degrees. During the epidemic, the number of operations decreased, and many hospitals chose conservative treatment and delayed treatment strategies. The demand for Neurovascular Devices may drop appropriately in a short time. Under the influence of the epidemic, people pay more and more attention to life and health, and their awareness of treating diseases is constantly improving. Generally speaking, with the gradual recovery of the epidemic, R&D, Neurovascular Devices production and demand will gradually recover, which has little impact on the development of the industry.

Market Restraints Analysis

In 2020, medical equipment companies in both developed and emerging markets will face complex and often turbulent political risks. Problems related to global trade will continue to exist, which will bring continuous political and economic uncertainty to enterprises. Affected by the Sino-US trade war, there will still be strategic opposition between the two countries on issues such as intellectual property protection and state support for certain industries. Geopolitics will dominate the risk environment in the Middle East.

Profitable industries with high returns will attract new companies. New entrants will eventually reduce the profitability of other companies in the industry. With the increasing demand for neurovascular devices, more and more enterprises have joined the industry, and the competition in the industry is relatively fierce. Although the development of neurovascular devices industry brings some opportunities, the research team suggests that new entrants who do not have the advantages of industrial chain and accurate positioning of downstream market segments should not enter neurovascular devices field.

Region Overview:

From 2023-2028, North America is estimated to witness robust growth prospects.

Company Overview:

Stryker Corporation is one of the major players operating in the Neurovascular Devices market, holding a share of 25.80% in 2021.

Stryker is one of the world’s leading medical technology companies and, together with its customers, is driven to make healthcare better. The company offers innovative products and services in Orthopaedics, Medical and Surgical, and Neurotechnology and Spine that help improve patient and hospital outcomes.

Terumo is a global leader in medical technology and has been committed to Contributing to Society through Healthcare for nearly 100 years. Based in Tokyo and operating globally, Terumo employs more than 25,000 associates worldwide to provide innovative medical solutions in more than 160 countries and regions. The company started as a Japanese thermometer manufacturer, and has been supporting healthcare ever since. Now, its extensive business portfolio ranges from vascular intervention and cardio-surgical solutions, blood transfusion and cell therapy technology, to medical products essential for daily clinical practice such as transfusion systems, diabetes care, and peritoneal dialysis treatments. Terumo will further strive to be of value to patients, medical professionals, and society at large.

Segmentation Overview:

Among different product types, Aneurysm Coiling & Embolization Devices segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Hospitals segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Neurovascular Devices market covered in Chapter 3:

Abbott Vascular
Penumbra
Medtronic
Stryker Corporation
Terumo
Microport Scientific Corporation
Johnson & Johnson

In Chapter 4 and Chapter 14.2, on the basis of types, the Neurovascular Devices market from 2018 to 2029 is primarily split into:

Aneurysm Coiling & Embolization Devices
Cerebral Balloon Angioplasty & Stenting Systems
Support Devices
Neurothrombectomy Devices

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Neurovascular Devices market from 2018 to 2029 covers:

Hospitals
Clinics
Ambulatory Surgical Units

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)