Drivers and Restraints of the Global Interventional Neurology Market Through MRFR’s Deep-diving Study Report - 2020 to 2027
Interventional Neurology Market Research Report: By Disease Pathology (Cerebral Aneurysms, Ischemic Strokes, & Others), Product (Aneurysm Coiling & Embolization, Neurothrombectomy, Support Devices, & Others), End User – Global Forecast Till 2027
The interventional neurology market has been growing rapidly over the last couple of years. Factors, such as the rising prevalence of neurological diseases including Alzheimer’s disease and stroke, act as major driving forces for the market growth. Moreover, rising cases of trauma led by road accidents and injuries escalate the market on the global platform.
According to Market Research Future (MRFR), the valuation of the global interventional neurology market had reached USD1832.6 MN in 2017, which is projected to appreciate at 7.8% CAGR over the assessment period (2018 – 2023). Technological advancements, a large patient population, favorable medical reimbursements, and a growing demand for capable neurovascular devices are fostering market growth significantly.
Funding support from governments and private consortium for R&D needed in the field of interventional neurology solutions contributes to the growth of the market. Additional factors, such as the increased focus of companies on the development of effective therapies and the introduction of 3D bioprinting as a novel strategy for cost efficiency are increasing the size of the market.
On the other hand, lack of skilled neurosurgeons and stringent regulatory policies act as a significant headwind for the growth of the market. Rapid growth in the global economy would support the growth of the market during the anticipated period, availing access to quality care.
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Interventional Neurology Market – Segmentation
MRFR has segmented the report into four main dynamics to widen the scope of understanding,
By Disease Pathology : Cerebral Aneurysms, Arteriovenous Malformation & Fistulas, Ischemic Strokes, and others.
By Product : The market, by product, is segmented into Aneurysm Coiling & Embolization Devices, Cerebral Balloon Angioplasty & Stenting Systems, Neurothrombectomy Devices, Support Devices, and others.
By End-user : Hospitals & Clinics, Ambulatory Surgical Centres, Research & Academic Institutes, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Global Interventional Neurology Market – Geographical Analysis
North America leads the global interventional neurology market, heading with the presence of many well-established players and their investments. Some of the key growth drivers of the market are the rising prevalence of neurology condition, the increasing numbers of clinical trials to evaluate the potential of the therapy, and the well-spread awareness towards the therapeutic potency.
The interventional neurology market in the European region accounts for the second-largest market, globally. Factors like huge per-capita healthcare expenses and deep healthcare penetration drive regional market growth. With their strong markets, the UK, Germany, and France account for significant growth contributors to the regional market. Additionally, the rising government support for R&D in the life science domain is substantiating the growth of the market in the region.
The Asia Pacific interventional neurology market is emerging as a rapidly growing market globally. Factors such as significant advancements in the field of biotechnology and the increasing government support for the R&D activities are fostering the growth of the regional market. Highly populated countries like China, India, and Japan are significantly contributing to the regional market growth due to their vast technological advances.
Interventional Neurology Market - Competitive Landscape
Highly competitive, the interventional neurology market appears to be fragmented owing to the presence of several well-established players. These players invest substantially in R&D activities to develop their capabilities. Augmenting government initiatives aimed at enhancing interventional neurology capabilities are anticipated to present high growth potential for the market, increasing activities, and funds required for R&D.
Major Players:
Players leading the global interventional neurology market include Johnson & Johnson, Abbott Laboratories, Boston Scientific Corporation, Medtronic PLC, Stryker Corporation, Terumo Corporation, Microport Scientific Corporation, Penumbra, Inc., Merit Medical Systems, Inc., B. Braun Melsungen AG, W.L. Gore & Associates, Inc., and Cook Medical, among others.
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