Neurovascular Devices Market Size By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), By P

Neurovascular Devices Market Size By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), By Process (Neurothrombectomy, Cerebral Angiography, Carotid Endarterectomy, Stenting, Microsurgical Clipping, Coiling, Flow Diversion), By Therapeutic Applications (Brain Aneurysm, Stenosis, Ischemic Strokes), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2022 - 2028

The neurovascular devices market is pegged to register considerable gains by 2028, driven by the rapidly growing prevalence of neurological disorders across the globe. The fast growing disease load is further calling for the development of more effective neurovascular devices, which will most notably drive the industry outlook over the forthcoming yeas.

Neurological disorders, also known as NDs, are heterogeneous diseases which affect the body’s peripheral, autonomic, as well as central nervous system. Some of the non-communicable NDs include ailments such as multiple sclerosis, non-migraine headaches, migraines, Alzheimer’s disease as well as other dementias, epilepsy, Parkinson’s disease, and other neurological disorders.

Lately, the overall burden of disability and deaths caused by NDs is increasingly being recognized by global healthcare organization as an international public health challenge. According to the Pan American Health Organization, the burden of these diseases is set to grow tremendously over the next couple of decades, primarily as an outcome of the population aging phenomenon.

As per the most recent United Nations report, up to 1 billion people, or approximately one in six of the globe’s population, suffers from neurological disorders, with approximately 6.8 million succumbing to the maladies each year.

The overall neurovascular devices market share is outlined on the basis of different segments such as product, process, therapeutic applications, region, and end-use.

With respect to product the market is further classified in terms of carotid stents, embolic coils, catheters, intracranial stents, flow diverters, embolic protection devices, intrasaccular devices, neurothrombectomy devices, stent retrievers, balloon systems, guidewires, and others. Among these, the balloon systems segment is forecast to register tremendous gains, of around 6% CAGR through the analysis timeframe. This is due to the increasing number of technological advancements in the product anatomy, which is making it safer and more effective for patients.

Based on process, the industry is classified into cerebral angiography, neurothrombectomy, stenting, carotid endarterectomy, microsurgical clipping, flow diversion, coiling, and others. In 2021, the stenting segment was valued at more than USD 453 million. The segment is slated to grow at a steady pace due to the growing demand for the product in treating neurovascular diseases.

With regards to therapeutic application, the stenosis segment is slated to see notable impetus for growth. In fact, the segment is pegged to witness more than 6% CAGR over the forecast period owing to increasing prevalence of the disease.

Ambulatory surgical centers would be emerging as the most distinguished end-use segment having held a market valuation around USD 1 billion in 2021. The growth is attributed to low-cost treatment offered at ambulatory surgical centers.

The Latin America neurovascular devices market is expected to witness a CAGR of over 4.5% through the forecast period owing to the developing healthcare and medical care infrastructure of the region.