Neurovascular Devices Market could be worth US$ 3,871.20 Million by 2027, Says The Insight Partners

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The Insight Partners market research study titled ‘Neurovascular Devices Market to 2027 – Global Analysis and Forecasts by Product, Application, End User and Geography. The global neurovascular devices market is expected to reach US$ 3,871.20 Mn in 2027 from US$ 2,997.36 Mn in 2019. The market is estimated to grow with a CAGR of 3.2% from 2020-2027.

The market is likely to grow due to the rising incidences of ischemic stroke across the world and rising product launches of the neurovascular devices by the companies.Neurovascular devices are used in neurovascular diseases that possibly affects the network of blood vessels surrounding the brain. This leads to incurable conditions such as strokes and aneurysms. Neurovascular devices are used to prevent stroke, aneurysm embolization, carotid stenosis and other symptoms.

Neurovascular devices are also used for performing surgical procedures to treat aneurysms and other cranial blood flow problems. Global neurovascular devices market was segmented by product, application and end user. On the basis of the product the market is segmented as neurothrombectomy devices, aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems and support devices. Based on the application the market is segmented into cerebral aneurysms, ischemic strokes, arteriovenous malformation & fistulas and other applications.

The market is classified into hospitals, ambulatory surgical centers and specialized clinics on the basis of end user. The neurovascular devices market by application was held largely by the ischemic stroke. The rising incidences of ischemic stroke are expected to grow during the forecast years. COVID19 has impacted the neurovascular devices market. In many countries situation such as lockdown has led the patient to opt for rescheduling the neuro surgeries which has significantly contributed in the market disruption

Neurovascular Devices Market: Competitive Landscape and Key Developments: Medtronic plc, Stryker Corporation., Johnson & Johnson Services, Inc., Acandis GmbH & Co. KG., MicroPort Scientific Corporation, Terumo Corporation, Penumbra, Inc., phenox GmbH, Integer Holdings Corporation, and Memry Corporation.

Impact of COVID-19 Pandemic on Neurovascular Devices Market

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of December 2020, the US, India, Brazil, Russia, France, the UK, Italy, Spain, Germany, Colombia, Argentina, and Mexico are among the most affected countries in terms of COVID-19 confirmed cases and reported deaths. According to the latest WHO figures, there are ~81,159,096 confirmed cases and 1,791,246 total deaths across the world. The pandemic is adversely affecting various industries across the world due to lockdowns, travel bans, and business shutdowns.

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