The U.S. neurovascular devices market was valued at $946 million in 2019, and is projected to reach $1,071 million by 2027, registering a CAGR of 3.8% from 2020 to 2027.
Neurological devices mainly use minimally invasive, image guided technology to treat complex as well as hazardous diseases of brain, neck, and spine. The neurovascular devices are used for the treatment of various neurovascular diseases including aneurysm, arteriovenous malformation, ischemic stroke, stenosis, and others. There are different types of neurovascular devices available in the market. These include embolization devices, revascularization devices, thrombectomy devices, embolic protection devices, and accessory devices. Moreover, some of the neurovascular devices used in embolization procedure include aneurysm clips, embolic coils, coil assist stent, and others. For instance, embolic coils are used in coil embolization, which is a minimally invasive procedure that involves treatment of aneurysm by filling the sac with coils to reduce risk of bleeding.
Rise in prevalence of neurovascular diseases, increase in demand for minimally invasive procedures, surge in number of researches in the field of neurovascular therapies, increase in awareness among neurosurgeons about minimally invasive surgical procedures, ongoing product development & commercialization are the major factors that drive growth of the U.S. neurovascular devices market. In addition, favorable medical reimbursements, rise in demand for effective neurovascular devices, surge in geriatric population, technological advancements related to neurovascular devices, and rise in incidences of brain/cerebral aneurysm are some other factors that contribute toward growth of the market. However, high cost of neurovascular devices restricts the growth of the U.S. neurovascular devices market. Conversely, surge in demand for minimally invasive procedures in the U.S provides lucrative opportunities for players operating in the neurovascular devices market.
The World Health Organization (WHO) on January 30, 2020 declared COVID-19 outbreak a public health emergency of international concern. COVID-19 has affected around 210 countries across the globe. Nationwide lockdown, government regulations, and continuous increase in infection rate across the country created a widespread financial impact on neurology hospitals and clinics. Large number of hospitals and clinics have witnessed a drop in number of patient visits amid COVID-19 ultimately reducing client contact. Furthermore, many neurovascular treatments have been delayed due to the Covid-19 crisis. In order to free-up limited space for people being treated for the virus, hospitals across U.S. have cancelled, or postponed, many elective operations especially those deemed to be non-essential or non-urgent. Thus, limited availability of medical care for conditions other than COVID-19 within the country has impacted the neurovascular market in a negative manner. At the same time, limited availability of healthcare staff across the country is another factor, which has an undesirable effect on the U.S. neurovascular devices market
By Product
Embolization Devices segment holds a dominant position in 2019 and would continue to maintain the lead over the forecast period.
U.s. Neurovascular Devices Market Segmentation
The U.S. neurovascular devices market is segmented on the basis of product and disease pathology to provide a detailed assessment of the market. By product, the market is divided into embolization devices, revascularization devices, thrombectomy devices, embolic protection devices, and accessory devices. The embolization devices are further sub-segmented into clippings, embolic coils, coil assist stents, and coil assist balloon. In addition, the embolic coils segment is further divided into bare detachable coils and coated detachable coils. The revascularization device segment is further divided into carotid artery stents and flow diversion stents. The thrombectomy devices segment is divided into clot retrieval devices, suction & aspiration devices, and snares. The embolic protection devices segment is divided in distal filter devices and balloon occlusion devices. Similarly, the accessory devices segment is divided into microcatheters, and micro guidewires. By disease pathology, the market is classified into aneurysm, arteriovenous malformation, ischemic stroke, stenosis, and others.
Segment review
Presently, on the basis of product, the embolization devices segment is the major revenue contributor, and is projected to grow significantly during the forecast period. Increase in adoption of embolization devices, surge in prevalence of neurovascular diseases, rise in R&D investment, increase in geriatric population, introduction of technologically advanced products, and surge in launch of new and advanced neurovascular devices are the key factors that boost the growth of the segment.
Depending on disease pathology, the aneurysm segment is the major shareholder in the U.S. neurovascular devices market, owing to surge in prevalence of the aneurysm, increase in demand for minimally invasive neurosurgical procedures, government initiatives to modernize healthcare infrastructure, technological advancement in neurovascular treatments, and increase in product approvals of new devices used in the treatment of aneurysm.
The key players profiled in this report include B. Braun Melsungen AG, Integer Holdings Corporation, Johnson & Johnson (Cerenovus), Medtronic Plc., Merit Medical Systems, Inc., Microport Scientific Corporation, Penumbra, Inc., SAES Getters SpA (Memry Corporation), Stryker Corporation, and Terumo Corporation (Microvention, Inc.).
By Disease Pathology
Aneurysm segment is projected as one of the most lucrative segment.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the U.S. neurovascular devices market size along with the current trends and future estimations to elucidate the imminent investment pockets.
- It offers U.S. neurovascular devices market analysis from 2019 to 2027, which is expected to enable the stakeholders to capitalize on the prevailing opportunities in the market.
- A comprehensive analysis of factors that drive and restrain the growth of the market is provided.
- The profiles and growth strategies of the key players are thoroughly analyzed to understand the competitive outlook and U.S. Neurovascular Devices Market growth.
U.S. Neurovascular Devices Market Report Highlights
| Aspects | Details |
 By Product |
|
 By Disease Pathology |
|
 Key Market Players | MICROPORT SCIENTIFIC CORPORATION, B. BRAUN MELSUNGEN AG, MERIT MEDICAL SYSTEMS, INC., TERUMO CORPORATION (MICROVENTION, INC.), SAES GETTERS S.P.A. (MEMRY CORPORATION), MEDTRONIC PLC., STRYKER CORPORATION, JOHNSON & JOHNSON (CERENOVUS), INTEGER HOLDINGS CORPORATION, PENUMBRA, INC. |
Analyst Review
Neurological devices use minimally invasive, image guided technology to treat the complex as well as hazardous diseases of brain, neck, and spine. The neurological devices are mostly used for the treatment of various neurovascular diseases including aneurysm, arteriovenous malformation and fistulas, ischemic stroke, stenosis, and others.
Rise in demand for minimally invasive neurosurgical procedures, surge in adoption of revascularization devices, rise in geriatric population, increase in research activities in the field of neurovascular therapies, favorable medical reimbursements, presence of novel and advanced neurovascular devices, rise in awareness programs and growing concern regarding neurological diseases, easy availability of neurovascular devices, surge in healthcare expenditure, technological advancement in neurovascular treatments, and increase in prevalence of spinal stenosis are expected to drive the growth of the U.S neurovascular devices market. However, high cost of neurovascular devices restricts the market growth.
The major factor that contributes toward growth of the U.S. neurovascular devices market include rise in geriatric population. In addition, increase in prevalence of neurovascular diseases and rise in adoption of neurovascular devices also contribute toward the growth of the U.S. neurovascular devices market. In addition, other factors such as increase in technological advancements related to neurovascular devices also drive the growth of the U.S. neurovascular devices market
No, there is no value chain analysis provided in the U.S. Neurovascular Devices Market report
The total market value of U.S. Neurovascular Devices Marketis $946.15 million in 2019.
The forcast period for U.S. Neurovascular Devices Market is 2019 to 2027
The market value of U.S. Neurovascular Devices Marketin 2020 is $827.76 million .
The base year is 2019 in U.S. Neurovascular Devices Market
Top companies such as Stryker Corporation, Medtronic plc, Terumo Corporation, Johnson & Johnson, Penumbra, Inc., and Microport Scientific Corportation held a high market position in 2019. These key players held a high market postion owing to the strong geographical foothold in U.S.
Embolization devices segment is the most influencing segment owing to surge in prevalence of brain aneurysm across the U.S. In addition, factors such as launch of novel and advanced products, which provides better treatment outcomes also boosts the growth of the market
Neurovascular devices are defined as instruments and machines, which are employed in the treatment of various neurovascular disorders
Neurovascular devices are used in the treatment of disorders related to blood vessels that carry oxygen rich blood to brain
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