Market Overview:
Neuro-interventional devices are surgical instruments and implants used to treat various neurological disorders. These devices help improve blood flow in the brain and reduce the risk of stroke by repairing or removing damaged blood vessels.
Market key trends:
One of the key trends in the neuro-interventional devices market is the growing adoption of minimally invasive techniques. Minimally invasive neuro-interventional procedures allow surgeons to access the brain through small incisions or natural openings thereby reducing trauma, recovery time, and risks associated with open surgeries. Advancements in imaging technologies such as flat panel detectors and 3D reconstruction have improved navigation during minimally invasive procedures driving their increased use.
Market key trends:
The Neuro-Interventional Devices Market Growth has been witnessing considerable growth owing to the increasing geriatric population who are more prone to neurological disorders such as stroke and aneurysm. Additionally, growing prevalence of ischemic strokes and hemorrhagic strokes along with the increasing adoption of minimally invasive procedures are further contributing to the growth of the neuro-interventional devices market.
SWOT Analysis
Strengths:
- Growing aging population suffering from neurovascular diseases
- Increasing preference for minimally invasive surgeries
Weaknesses:
- High cost of neuro-interventional devices
- Requirement of highly skilled professionals for operating such devices
Opportunities:
- Emerging economies providing large growth opportunities
- Development of advanced devices such as flow diverter stents and liquid embolic agents
Threats:
- Availability of alternative treatment options for certain neurovascular diseases
- Stringent regulatory approvals for new neuro-interventional devices
Key Takeaways
The global Neuro-interventional Devices Market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing prevalence of neurovascular diseases.
Regional analysis:
North America dominated the global market and accounted for the largest revenue share in 2023. However, Asia Pacific is expected to witness the fastest growth over the forecast period owing to rising healthcare expenditure and increasing demand for advanced treatment options in countries such as China and India.
Key players:
Key players operating in the neuro-interventional devices market are Penumbra, Inc., Stryker Corporation, Medtronic PLC., Johnson Johnson Services, Inc., Terumo Corporation, Insera Therapeutics Inc., Anaconda Biomed S.L., NeuroVasc Technologies and Perflow Medical Ltd.
Read More: https://cmiresearch.blogspot.com/2023/11/the-rapid-technological-advancements-in.html
