LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global interventional neurology devices market report. This research report also lists 13 other prominent vendors that are expected to impact the market during the forecast period.
The global interventional neurology devices market will continue to grow during the forecast period. In 2016, the Americas was the leading contributor to the market followed by EMEA and APAC. Countries like the US, Germany, Japan, and Canada have population with higher income. Increasing income has led to higher spending on healthcare and also increased the adoption of technologically advanced devices.
Competitive vendor landscape
The global interventional neurology devices market is well-established with large global players. The major factors driving the growth of this market are rising incidences of stroke, favorable reimbursement plans, and increasing demand for minimally invasive surgeries. The large players have a vast global presence and are supported by their distribution and sales networks.
“The competition is further intensified as these players are adapting to expansion strategies through strategic alliances either to increase their product portfolio or to increase their footprints into new geographies. The global players are increasingly inclined toward inorganic growth by acquiring local players,” says Neha Noopur, a lead orthopedics and medical devices research analyst from Technavio.
At the same time, the players are increasing investments in R&D to grab the market with their innovative products. The competitive environment in this market is likely to intensify further with an increase in product and service extensions, technological innovations, and M&A.
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Top five interventional neurology devices market vendors
Abbott
Abbott has a broad and diversified line of healthcare products and services. Abbott markets its products through its worldwide distributor network. It has its sales network in over 150+ countries. It is well established in the world’s largest and fastest growing markets.
DePuy Synthes
DePuy Synthes has two major segments: orthopedic and neurological business. It is a subsidiary of Johnson and Johnson. The company operates in 8 major divisions, which includes joint reconstruction, neurological, spine, trauma, sports medicine, craniomaxillofacial, power tools, and biomaterials.
Medtronic
Medtronic has a global presence and operates in over 160 countries. The company had over 45,000 patents in FY2016. It operates across four core business areas that include: cardiac and vascular group, minimally invasive therapies group, restorative therapies group, and diabetes group.
Stryker
The major revenue generating segment for Stryker has been orthopedics, medical and surgical, neurotechnology, and spine. It also deals with surgical equipment and surgical navigation system, neurosurgical, neurovascular, and spinal devices. The company launched 20 new products in the neurovascular segment in the last five years, resulting in a double-digit growth.
TERUMO
TERUMO operates in three business segments: cardiac and vascular, general hospital, and blood management. It provides a steady supply of the highest quality medical devices and services to patients and medical settings while working proactively at solutions to the wide variety of challenges in healthcare.
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