Global Neurovascular Devices Market

Neurovascular Devices Market Size, Share, Growth Analysis, By Product(Embolization Devices, Clippings), By Disease Pathology(Aneurysm, Arteriovenous Malformation and Fistulas (AVM)), By Process(Neurothrombectomy Procedure, Cerebral Angiography Technique), By Therapeutic Applications(Brain Aneurysm, Stenosis), By End-Use(Hospitals, Ambulatory Surgical Centers) - Industry Forecast 2024-2031

Report ID: SQMIG35A2777 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 170 | Figures: 75

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Neurovascular Devices Market size was valued at USD 2.84 billion in 2022 and is poised to grow from USD 3.01 billion in 2023 to USD 4.53 billion by 2031, growing at a CAGR of 4.80% in the forecast period (2024-2031).

The competitive environment of the Neurovascular Devices Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Leading brands invest in research and development to introduce new flavors, packaging formats, and health-focused variations to cater to changing consumer preferences. They often set the trends in the industry. 'Acandis GmbH', 'Asahi Intecc Co. Ltd.', 'Imperative Care Inc.', 'Integer Holdings Corporation', 'Johnson & Johnson', 'Medtronic plc', 'MicroPort Scientific Corporation', 'Penumbra Inc.', 'Perflow Medical Ltd.', 'Rapid Medical', 'Stryker Corporation', 'Terumo Corporation', 'Medtronic', 'Johnson and Johnson Services Inc.', 'Penumbra, Inc.', 'Microvention Inc (Terumo Corporation)', 'Codman Neuro (Integra Lifesciences)'

The growing popularity of minimally invasive surgeries stems from their inherent advantages, notably the diminished risks and trauma linked to these procedures. The use of smaller incisions not only reduces postoperative pain but also promotes swifter recovery times, prompting a substantial adoption of these techniques and spurring intensified research and development within this domain. Numerous prominent industry players are directing substantial investments into research and development endeavors aimed at introducing groundbreaking minimally invasive surgical instruments.

The growing acceptance of minimally invasive surgeries owes much to their cosmetic advantages and notably reduced recovery periods, factors that are poised to significantly propel the expansion of the neurovascular devices market. Continuous strides in innovation and enhancements within surgical techniques have been pivotal in ensuring the safety of these procedures for patients. These procedures encompass a spectrum from laparoscopic and endoscopic surgeries to the advent of robot-assisted surgical techniques. The evolution towards such advanced methods heralds a promising landscape for the industry, fostering an environment conducive to further growth and development within the neurovascular devices sector.

North America asserted its dominance in the neurovascular devices market, commanding a substantial share of 26.44% in 2022, primarily attributed to the strong presence of key manufacturers within the region. Renowned industry players like Penumbra, Inc., Stryker Corporation, Johnson & Johnson, and Merit Medical Systems, Inc., among others, contribute significantly to this market stronghold through their operations in North America.

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