As per Persistence Market Research, the global neurovascular embolization devices market is expected to account for more than $1,733.1 Million by 2028 end. The company’s report projects significant growth potential with average year-on-year growth rate estimated at 4.4% through 2028. Market growth is attributed to increasing demand for minimally invasive neurosurgical procedure for better patient outcomes. Additionally, the increasing awareness regarding neurovascular disease, and technological advancements in the diagnostic techniques are expected to propel the demand for neurovascular embolization devices over the forecast period.
Highlights
- It is claimed by the Brain Aneurysm Foundation that around 6 million people in the U.S. suffer from brain aneurysms, which is expected to fuel the adoption minimally invasive neurovascular procedure. This factor further increases the demand for neurovascular embolization devices from the individuals suffering from cerebral aneurysms.
- Outpatient centers segment is projected to grow at a CAGR of 4.8% over the forecast period due to increasing demand for minimally invasive surgeries.
- North America is projected to be the dominant regional market for neurovascular embolization devices over the forecast period.
- Asia Pacific neurovascular embolization devices market is projected to grow at a CAGR of 5.2% due to growing awareness regarding brain aneurysms and other neurovascular diseases as well as significant presence of key manufacturers.
- In terms of revenue, the embolization devices product type segment of the neurovascular embolization devices market is expected to hold significant share and grow at a high CAGR of 4.9% in the global neurovascular embolization devices market over the forecast period.
- Flow diversion stents segment in the neurovascular embolization devices market is also expected to grow at a significant CAGR owing to the low associated risks and their growing adoption by the end users.
- Aneurysm clips segment in the neurovascular embolization devices market is estimated to contribute 2.4% market share in the terms of revenue.
- The hospital end-use segment in the neurovascular embolization devices market is predicted to exhibit growth by 4.2% CAGR during the forecast period.
- Outpatient centers hold key growth opportunity due to emergence of minimally invasive treatment modalities such as embolization coils, liquid embolic systems. North America neurovascular embolization devices market is estimated to create an incremental opportunity of $229.7 Million between 2018 and 2028.
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