Interventional Neurology Market Size, Analysis, Region & Country Revenue Share, & Forecast Till 2027
The Global interventional neurology market size is expected to grow at an approximate CAGR of 7.8% during forecast period.
Increasing
participation of market players is the key factor driving the interventional
neurology market. For instance, in 2018, Rapid Medical announced CE Mark
approval in the European Union for its Tigertriever 13 stent retriever for the
treatment of ischemic stroke.
Various
other factors such as technological advancements, presence of a large target
patient population, favorable medical reimbursements and growing demand for
effective neurovascular devices are also expected to propel the growth of the
market.
However,
lack of skilled neurosurgeons and stringent regulations can hinder the market
growth over the forecast period.
Neurointerventional
Radiology, or Neuro IR, is a subspecialty of the UCSF Department of Radiology
where world-renowned physicians develop and perfect new techniques to treat
stroke, brain tumors, cerebral aneurysms and other life threatening conditions
Segmentation
The Global
interventional neurology market is segmented based on disease pathology,
product, end user and region.
The Global
market for interventional neurology, by disease pathology is segmented into
cerebral aneurysms, arteriovenous malformation and fistulas, ischemic strokes,
and others.
The market,
by product, is segmented into aneurysm coiling & embolization devices,
cerebral balloon angioplasty and stenting systems, neurothrombectomy devices, and
support devices. The aneurysm coiling & embolization devices segment is
further classified as embolic coils, flow diversion devices, and liquid embolic
agents. The embolic coils segment includes bare detachable coils, and coated
detachable coils. The cerebral balloon angioplasty and stenting systems segment
is further classified as carotid artery stents, and embolic protection systems.
The embolic protection systems segment includes distal filter devices, and
balloon occlusion devices. The neurothrombectomy devices are further classified
as clot retrieval devices, suction and aspiration devices, and snares. The
support devices are further classified as microcatheters, and microguidewires.
Based on
end user, the market is segmented into hospitals & clinics, ambulatory
surgical centers, research & academic institutes, and others.
Regional
Analysis
The
Americas dominated the global market for interventional neurology owing to
presence of major market players and rising geriatric population.
In 2017, it
was estimated that Europe stood second in the global interventional neurology
market. This can be attributed to the rising research and development
investments.
Asia
Pacific was projected to be the fastest growing region in 2017. Factors such as
growing healthcare sector, increasing penetration of the market players within
the region, and increasing healthcare expenditure drives the regional markets
of the Asia Pacific region.
On the
other hand, the Middle East and Africa held least share in the global
interventional neurology market due to the low per capita income, especially
within the African region. The growth in this region is attributed to the
rising cases neurological conditions. The burden of neurological disorders in
African region has been increasing over the years. The annual incidence of
stroke has been estimated to be 316 per 100 000 in Africa.
Key
Players
Some of the
key players in the global interventional neurology market are Abbott
Laboratories, Johnson & Johnson, Boston Scientific Corporation, Stryker
Corporation, Medtronic PLC, Terumo Corporation, Penumbra, Inc., Microport
Scientific Corporation, Merit Medical Systems, Inc., W.L. Gore &
Associates, Inc., B. Braun Melsungen AG, Cook Medical, and others.
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