The Neurovascular Devices Market is estimated to reach USD 3.60 Billion, from USD 2.35 Billion in 2020, delivering a CAGR of 5.6% through 2028.The market is primarily driven by the growing target population for patients, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and increased market demand for effective neurovascular devices.
Technological advances have increased life expectancy, resulting in an increase in geriatric population as a consequence. The geriatric population (age 60 & above) is projected to increase by 57% from 902 million in 2015 to 1.41 Billion by 2030, according to a report published by the United Nations. As a result, the aging population around the globe is expected to rise to boost demand for neurovascular devices.
Neurovascular therapy technological developments, such as the development of GORE TIGRIS by W L Gore and Medtronic distal filter embolic protection device SpiderFX, are expected to serve as a high impact rendering driver. It is expected that inclination for minimally invasive surgery in brain aneurysm and stroke treatments will be the key factor that will increase market growth.
Increasing numbers of neurovascular therapy research, increased demand for minimally invasive neurochirurgical procedures, and increased awareness for minimally invasive surgical procedures among neurochirurgists provide significant market growth opportunities. However, strict regulatory scenario and skilled neurosurgeon dearth may hinder the growth of the market during the forecast period.
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This report forecasts volume and revenue growth at a global, regional & country level, and provides an analysis on the industry trends in each of the sub-segments from 2016 to 2026. For the purpose of this study, Reports and Data have segmented the market on the basis of type, application and regional analysis.
Type (Revenue, USD Million; 2018-2028)
Application (Revenue, USD Million; 2018-2028)
Regional Analysis covers:
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