As per the report published by Allied Market Research, the — U.S. Neurovascular Devices Market was pegged at $946.15 million in 2019, and is expected to garner $1.07 billion by 2027, registering a CAGR of 3.8% from 2020 to 2027.
Rise in prevalence of neurovascular diseases, increase in geriatric population across the U.S., technological advancements associated with neurovascular devices, and surge in incidence of underlying disease conditions drive the growth of the U.S. Neurovascular Devices market. On the other hand, higher prices of neurovascular devices restrain the market growth. However, increase in demand for minimally invasive procedures in U.S. offers novel opportunities to the market players in the coming years.
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Limited availability of medical care for situation other than covid-19 and healthcare staff in the country during the initial phase of covid-19 has interrupted the growth of the neurovascular market.
The nationwide lockdown and government regulations, and continuous rise in infection rate in the country created a widespread financial impact on the neurology hospitals and clinics.
A variety of hospitals and clinics have witnessed a decline in number of patient visits during COVID-19, thereby decreasing client contacts. Furthermore, many neurovascular treatments have been delayed due to the Covid-19 crisis.
Based on disease pathology, the he market is classified into aneurysm, arteriovenous malformation, ischemic stroke, stenosis, and others. The aneurysm segment accounted for nearly half of the U.S. Neurovascular Devices market in 2019, and is expected to maintain its leadership status in terms of revenue throughout the forecast period. Nevertheless, the ischemic stroke segment is estimated to manifest the fastest CAGR of 5.9% from 2020 to 2027.
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Growth of the U.S. neurovascular devices market is attributed to rise in prevalence of neurovascular disease across the U.S. Furthermore, technological advancements related to neurovascular devices, and increase in geriatric population are the other factors that contribute to the growth of the market.
neurovascular devices market in 2019, 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 drive the growth of this segment.
Key Findings Of The Study
By product, the embolization devices segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
On the basis of disease pathology, the aneurysm segment held largest market share in 2019, and is expected to remain dominant throughout the forecast period.
The leading market players in the 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, Terumo Corporation (Microvention, Inc.).
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Release ID: 89033899