DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Neurovascular Devices/Interventional Neurology Market by Product and by Pathology - Global Forecasts to 2021" report to their offering.
The global neurovascular devices/interventional neurology market is estimated reach USD 2.62 billion at a CAGR of 8.6% during 2016-2021.
As of 2016, North America and Europe holds the largest share of the market; however, the Asia-Pacific region is poised to be the fastest growing region during next five years owing to factors such as the presence of a large patient population base for target diseases, rising awareness among neurosurgeons related to the benefits offered by interventional neurology devices, ongoing government initiatives to modernize & expand healthcare infrastructure, and increasing adoption of neurovascular devices due to decreasing product price (owing to increasingly localized manufacturing and strengthening of distribution networks).
Market growth in the market is mainly driven by factors such as large target patient population base, ongoing product development & commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets and growing market demand for effective neurovascular devices. The factors such as the increasing number of research activities in the field of neurovascular therapies and rising demand for minimally invasive neurosurgical procedures are expected to offer renewed growth opportunities for the market players during the forecast period.
The market is highly competitive, with a large number of global and local manufacturers of neurovascular products. Stryker Corporation (U.S.), Medtronic Plc (Ireland), and Johnson & Johnson (U.S.) were the top three players in the market, in 2015.
Key Market Drivers
- Large Target Patient Population
- Ongoing Product Development and Commercialization
- Favorable Medical Reimbursements
- Expansion of Healthcare Infrastructure Across Emerging Markets
- Growing Market Demand for Effective Neurovascular Devices
Key Market Restraints
- Stringent Regulatory Scenario
- Dearth of Skilled Neurosurgeons
Key Market Opportunities
- Increasing Number of Research Activities in the Field of Neurovascular Therapies
- Rising Demand for Minimally Invasive Neurosurgical Procedures
Ongoing Clinical Studies
- Embolization Coiling Procedures
- Carotid Artery Stenting Procedures
- Embolic Protection Procedures
- Flow Diversion Procedures
- Supporting Techniques
- Neurothrombectomy Procedures
- Abbott Laboratories
- Boston Scientific Corporation
- Johnson & Johnson
- Medtronic PLC
- Merit Medical Systems, Inc.
- Microport Scientific Corporation
- Penumbra, Inc.
- Stryker Corporation
- Terumo Corporation
- W.L. Gore & Associates, Inc.
For more information about this report visit http://www.researchandmarkets.com/research/jjtldw/neurovascular