Neurovascular Devices Market size worth over $2.3bn by 2024: Global Market Insights Inc. Neurovascular Devices Market size was valued at over USD 1.6 billion in 2015 and will exceed USD 2.3 billion by 2024 at 4.1% CAGR from 2016 to 2024; according to a new research report by Global Market Insights, Inc. Global neurovascular devices market share will be driven by high prevalence of stenosis and ischemic strokes, favorable government initiatives to expand healthcare infrastructure, rise in demand for minimally invasive surgical procedures, and advancement in medical techniques developed by leading industry players. However, designing more effective and low cost treatments ensuring long term results with improved patient safety should restraining the industry growth. Embolic coils will witness majority more than 30% of global business revenue, followed by stenting. Coiling procedures will show highest growth over coming years due to increasing government and private investments to develop new occlusion catheter products and increasing accessibility to scientifically advanced devices. Neurovascular stenting market will be the fastest growing segment due to growing adoption of balloon catheters and carotid stents among neurosurgeons; increase in number of patients suffering from ischemic strokes and stenosis, and improving reimbursement scenario across developed economies.
Hospitals hold majority neurovascular devices market share while ambulatory surgical units segment has prominent share in U.S. and Germany. Brain aneurysm accounts for over 70% of overall market. Ischemic strokes will show highest growth owing to increased prevalence rate of the disease especially in emerging regions. U.S. neurovascular devices market size holds over 70% regional share, due to growing patient population, favorable medical reimbursement settings, technological developments in neurosurgery, and increasing expenditure in healthcare infrastructure. Germany and UK will witness significant growth in the coming years owing to increase in geriatric and obese population in the region. Japan, China, India and Brazil are intended to spur the industry growth because of rise in GDP and increase in healthcare expenditure in these regions.
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