Neurovascular Devices Market
Global Neurovascular Devices Market Size to Reach $6.51 Billion by 2030
[London, United Kingdom] – [1st June 2023] – The global neurovascular devices market size is expected to reach USD 6.51 billion by 2030, according to a new report by Pharmanucleus. The market is projected to grow at a CAGR of 9.6% during the forecast period from 2023 to 2030.
The growth of the neurovascular devices market is being driven by a number of factors, including the increasing prevalence of neurological disorders, technological advancements, and rising demand for minimally invasive procedures.
Neurological disorders such as stroke, aneurysm, and arteriovenous malformation (AVM) are major drivers of the neurovascular devices market. These disorders are often difficult to diagnose and treat, and neurovascular devices can provide valuable information to help doctors make accurate diagnoses and develop effective treatment plans.
Technological advancements in the field of neurovascular devices are also driving the growth of the market. New devices are being developed that are more effective and less invasive than traditional devices. This is leading to increased adoption of neurovascular devices by healthcare providers.
The rising demand for minimally invasive procedures is also driving the growth of the neurovascular devices market. Neurovascular procedures are often less invasive than traditional surgical procedures, which can lead to shorter recovery times and lower costs. This is leading to increased preference for neurovascular procedures over traditional surgical procedures.
The global neurovascular devices market is segmented by device type, end user, and region. By device type, the market is segmented into stents, coils, balloons, catheters, and other devices. By end user, the market is segmented into hospitals, clinics, and other end users. By region, the market is segmented into North America, Europe, Asia Pacific, and Rest of the World.
North America is the largest market for neurovascular devices, followed by Europe and Asia Pacific. The large market share of North America is attributed to the presence of a large number of well-established players in the region. The market in Asia Pacific is expected to grow at a faster pace during the forecast period, due to the rising prevalence of neurological disorders and the increasing demand for minimally invasive procedures in the region.
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Pharma Nucleus is a market research company that provides clients access to custom, syndicated reports and consulting on one platform. As a company with rich knowledge in analysis and research across healthcare domains, such as pharma, medical device and biotechnology. Insights derived from Pharma Nucleus help life sciences and other healthcare organizations accelerate the launch, development, and dissemination of life-saving therapies, navigate significant attention with key opinion leaders, and help ensure equitable access to healthcare services.