Global Neurovascular Devices Market - 2020-2027
|全球神經血管裝置市場：2020-2027 Global Neurovascular Devices Market - 2020-2027|
|出版日期: 按訂單生產||內容資訊: 英文||
Neurovascular diseases affect the cerebral vascular system and the spinal cord that encompasses any abnormality of the blood vessels within or supplying the brain and spine. Abnormalities may be narrowing of arteries which reduce blood flow to the brain that leads to risk of Stroke and weakening of arteries that leads brain aneurysms and increase the risk of intracranial bleeding.
The narrowing or shrinking of the arteries due to the plaque buildup also falls under this particular disease, which intervenes the normal blood flow to the brains, and makes the risk of stroke a more prominent one. If not treated at the right time in the right way, neurovascular diseases can not only cause disabilities in the adults, but may also be fatal.
Neurovascular devices are used for the diagnosis and treatment of vascular disease of the brain and central nervous system. For instance, neurovascular devices include clips, coils, and stents, which are used in treatment of neurovascular disorders such as brain aneurysm. In addition, some neurovascular conditions that are treated by aid of neurovascular devices include aneurysm, arteriovenous malformation and fistulas, ischemic stroke, and stenosis.
The market is driven is the increasing incidences of brain/ cerebral aneurysm in several countries is expected to drive the demand for neurovascular devices. According to the NHS England, around 1 in 12,500 people in England have brain aneurysm every year. Furthermore, around 3% of the adults in U.K. have cerebral aneurysm. Increasing prevalence of hypertension, alcohol consumption, and smoking is anticipated to result in brain aneurysm.
Surge in geriatric population is the major factor that boosts the market growth. Furthermore, other factors such as rise in prevalence of neurovascular diseases and surge in adoption of neurovascular devices across the globe also contribute toward growth of the market. In addition, factors such as surge in technological advancements related to neurovascular devices also propel growth of the neurovascular devices market.
Increasing patient demand for slightly invasive surgeries will augment neurovascular devices business growth during the forecast period. Advancement of innovative technology has led to significant demand for procedures with minimum invasion. Slightly invasive procedures offering benefits to the patients including decreased pain, less blood loss and cost-effectiveness will increase adoption of neurovascular surgeries, these factors will also help to accelerate neurovascular devices market growth.
Furthermore, Technological advancements in neurovascular devices will help as a high impact rendering factor for neurovascular devices industry growth. Additionally, a growing number of cases of a brain aneurysm and ischemic stroke across the U.S. will be a major factor driving market growth. Ischemic stroke is the highest occurring subtype of stroke in the U.S. and stroke is the fourth leading mortality factor. According to The American Journal of Medicine, approximately 795,000 strokes occur each year in the country. With increasing geriatric population across the country, the burden of ischemic stroke is rapidly rising that will result in substantial demand for neurovascular devices over the upcoming years.
Over the past few years, within the cerebrovascular field, a number of recent advances have taken place regarding patient diagnosis, imaging analysis, evaluation, microsurgical treatments, medical therapies, and minimally invasive therapeutic modalities. All these improvements have been propelled by research developments from in vivo, in vitro, translational, as well as clinical studies.
However, the greater cost associated with neurovascular devices and treatment can reduce the adoption and customer preference for the devices. Furthermore, challenges pertaining to commercialization of neurovascular devices due to lack of resources and proper business environment across emerging economies will hamper the market growth.
Moreover, COVID-19 pandemic has also affected the market adversely. For instance, after COVID-19 was declared as a pandemic by the WHO, countries worldwide adopted nationwide lockdowns to observe social distancing as a measure to contain the spread. This led to disruption, limitation, challenges, and changes in each sector of every industry. Similarly, the neurovascular devices industry was also impacted by the pandemic.
For instance, neurovascular devices are used in surgical operations. Thus, limited availability of medical care for conditions other than COVID-19 around the world has impacted the neurovascular market in a negative manner. Furthermore, limited availability of healthcare staff across the world is another factor, which has hamper the growth of market in the forecast period.
The global neurovascular devices market is segmented based on product by aneurysm coiling & embolization devices, cerebral balloon angioplasty and stenting systems, support devices, neurothrombectomy devices, and others. The aneurysm coiling & embolization devices segment held the largest market share. Aneurysm Clips, are gadgets utilized exclusively for shutting and confinement of veins or courses because of Cerebral Aneurysms in human beings. These aneurysm clips are manufactured using Titanium, Cobalt, silver and other metals. According to the data provided by Brain Aneurysm Foundation in the year of 2018, around 500,000 deaths occur worldwide annually due to brain aneurysms with half the victims are younger than 50 years. The growing scenario of incidences of brain aneurysm and the rising neurological surgeries for their treatment in India, is driving the growth of the segment.
Embolization coils are a catheter-based procedure that permits the exact conclusion of an unusual bloodstream in a vein. A catheter with a metallic impeding coil is embedded into a course, as a rule in the femoral vein. It is then advanced in class to the unusual vein. Blood coagulation will frame on the loop, totally blocking the unusual bloodstream past the curl. In the end, a scar will shape, making a permanent seal. Studies have shown that the drawn-out progress pace of coiling in brain aneurysms is over 85%. Increment in progress paces of embolization coiling for the treatment of aneurysms has brought about a change in outlook from clipping to coiling.
The device was deployed across the neck of the aneurysm and, in most cases, across the neck of the right vertebral artery. The micro catheter was removed and DSA performed of the aortic arch. The guiding catheter was retracted and placed in the abdominal aorta and DSA performed.
The neurothrombectomy devices segment is expected to have positive market growth in the forecast period. Neurothrombectomy devices are used to destroy and/or retrieve the blood clots in the cerebral neurovasculature. Acute ischemic stroke is one of the common strokes and is caused due to reduction of blood supply to the brain, leading to death of the brain cells.
Neurothrombectomy is one of the most preferred treatments, since it improves functional outcomes and lowers the mortality rate in patients. Rise in cases of acute ischemic stroke especially among geriatric population is majorly affecting the growth of clot retrievers in U.S. According to the World Health Organization (WHO), in 2015, 15 million people suffered from stroke worldwide. This is anticipated to boost the demand for neurothrombectomy devices in near future.
Increasing technological advancements and innovations in the market are anticipated to positively influence the demand over the forecast period. Changing lifestyle of consumers involving adoption of unhealthy habits can increase the risk of acute ischemic stroke and other such disorders, thereby leading to an increased product demand.
Increasing frequency of hemorrhagic stroke due to aging blood vessels and high blood pressure is yet another factor influencing the growth positively. Also, high prevalence of obesity among adults is increasing the risk of strokes, impelling the growth.
Further, the market is also classified based on disease as aneurysm, ischemic strokes, cerebral aneurysms, arteriovenous malformation and fistulas other. The ischemic strokes segment is held the largest market share. Ischemic stroke is referred to a heterogeneous multifactorial disease characterized by the sudden onset of neurologic signs that are directly related to the places of injury in the brain where the morbid process takes place. The evaluation of multifaceted neurologic disorders, including stroke, in which a large number of genetic and epigenetic factors interact with even the environmental risk factors in order to increase the risk has been revolutionized by the GWAS (genome-wide association studies) approach.
According to the Stroke Center, the US, the risk of ischemic stroke in current smokers is around two-fold higher than that of nonsmokers after fine-tuning with other risk factors. Hence, with increasing smoking population the prevalence of the disease is expected to rise significantly over the forecast period, thus contributing to the market growth.
By region, the neurovascular devices market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Among all of the regions, North America dominated the global neurovascular devices market and is expected to grow at the highest CAGR during the forecast period due to presence of large number of key players operating in the neurovascular devices market.
According to the Centers for Disease Control and Prevention (CDC) facts (2017), stroke results in the death of about 140,000 Americans each year which is 1 out of every 20 deaths. In the United States, there is estimated to be at least one stroke within every 40 seconds and every four minutes, someone dies of a stroke.
Approximately 87% of all strokes are ischemic strokes, in which blood flow to the brain gets blocked. Similarly, as per stated by the Brain Aneurysm Foundation (2019), cerebral aneurysms affect an estimated 6 million Americans and are accountable for nearly half a million deaths worldwide each year, with half the victim's age 50 and younger. All these factors are expected to fuel the overall market growth across the region.
The Asia-Pacific region is expected to have third-largest share due to presence of a large patient pool, availability of skilled technicians at a comparatively lower price, and a defined regulatory framework favoring expedited product approvals. Furthermore, the booming medical tourism industry in countries such as India, China, and Malaysia are expected to boost demand for the treatment. These factors stimulate market growth over the forecasted period in the region.
The neurovascular devices market is highly competitive with the presence of several international and local markets. Product diversification, revenue generation, and opportunities intensify the market competition Abbott Laboratories, Johnson & Johnson, Medtronic plc, MicroPort Scientific Corporation, Penumbra, Inc., Stryker Corporation, Terumo Corporation, W. L. Gore & Associates, Inc., are the leading market players with significant market share. The major players are using product development, novel product launches, market expansion, and product diversification strategies for holding their position in the market.
The companies are entering into collaborations, mergers, strategic partnerships, and acquisitions to expand their presence and meet the rising demand for the medical neurovascular devices market across the globe.
For instance, In December 2016, Terumo Corporation signed an agreement with Abbott Laboratories (U.S.) and St. Jude Medical, Inc. (U.S.). The agreement was aimed at acquisition of St. Jude Medical's Angio-Seal and FemoSeal vascular closure & Abbott's Vado Steerable Sheath. This agreement helped Terumo Corporation to enhance the product portfolio in minimally invasive entry site management and strengthen its visibility in the U.S. neurovascular and interventional neurology devices market.