Healthcare

Neurointerventional Market Industry Analysis, Segments, Key Players, Drivers, Trends, and Forecast 2017-2023

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Overview:
Neurointerventional is a complex medical specialty concerned with individuals suffering from neuro-related diseases and disorders. The nervous system is prone to several diseases that affect the brain, spine, peripheral nerves, and spinal cord. Symptoms, such as muscle weakness, seizures, perception, partial or complete analysis, cognition or emotional state, loss of bowel, and bladder control, are due to various neurological problems. Neurosurgery is the most advanced and modernized method for diagnosis and treatment, which includes computed tomography, magnetic resonance imaging (MRI), computer-assisted imaging, stereotactic radiosurgery, and magnetoencephalography. Some of the common neurosurgeries include craniotomy, microsurgery, oncological neurosurgery, neuroendoscopy (endoscopic endonasal surgery), and stereotactic neurosurgery. There is a wide availability of neurointerventional devices, such as flow diverters, embolic coils, aneurysm clips, neurovascular stents, aspiration devices, and support devices, that are used in performing neurosurgeries.

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Cerebral disorders are among the most common neurological disorder and are prevalent in women. Changing lifestyles and stress have resulted in the development of a range of disorders like mood disorder and anxiety. Some of the most prevalent neurological disorders are stroke, multiple sclerosis, epilepsy, brain injuries, Alzheimer’s disease, and Parkinson disease, and neuro-infections. Neurological disorders cause more than 10% of the deaths worldwide. According to estimates by WHO, more than 350 million people are suffering from depression globally. According to the Brain Aneurysm Foundation, there are about 50 million brain aneurysm-related deaths every year, out of which half of the deaths occur in individuals who are aged below 50 years.

Factors, such as increased prevalence of neurological disorders, increasing awareness about new technologies, presence of large pool of patients in emerging markets, and advent of new innovative neurosurgical devices, such as flow diversion devices, neuroendovascular stents, liquid embolic, clot retrieval, and balloon catheters, are expected to drive the market growth during the forecast period. The market is expected to witness substantial growth due to the emergence of the neurointerventional technology that has eventually propelled innovation related to neurosurgical devices with the involvement of minimally invasive technique. The Neurointerventional Devices Market  in India, Brazil, and China are expected to grow at a rapid pace during the forecast period mainly due to the presence of patients affected with various neurosurgical disorders.

Neurointerventional devices continue to demonstrate substantial improvements in patient outcomes by delivering high-quality and life-sustaining treatments. This factor provides huge potential for the market growth in both developed and developing countries with a wide range of opportunities. Vendors are investing hugely in R&D for the development of new products to gain the major market share globally.

Market Analysis:

The Global Neurointerventional Devices Market is estimated to witness a CAGR of 12.3% during the forecast period 2017–2023. The Global Neurointerventional Devices Market is analyzed based on three segments, namely product type, end-users, and regions.

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Product Analysis:
The Global Neurointerventional Devices Market is segmented based on aneurysm devices, cerebral angiography and stenting devices, neurothrombectomy devices, and support devices. Aneurysm devices dominate the market and are the most innovative and fastest growing products in the Global Neurointerventional Devices Market. This segment is expected to grow at a CAGR 12.9% during the forecast period. The neuroendovascular treatment is widely accepted in most of the developed countries and have a strong hold of aneurysm devices like flow diverters, embolic coils, aneurysm clips, and platinum coils that are used in diverting and neuroendovascular coil treatment (aneurysm embolization/coiling). In 2015, about 44,500 neurovascular coiling procedures were performed in the US, 28,000 in Western Europe, and 5,500 in Germany. Therefore, the opportunities for growth in the emerging countries of LATAM and APAC remain vast. The increasing adoption of MI surgeries in treating neurological disorders, particularly in the elderly and the growing availability of devices contribute to the growth of the market.

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Mike is former Research Anlyst and currently working in Mindaspire Market Research as a Stratergic Growth Analyst he is responsible for researching, analyzing, interpreting and presenting data related to markets, operations, finance/accounting, economics, customers, and other.

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