Global Neurovascular Devices Market: Overview
The global population is aging rapidly. According to WHO, the chances of health risks are greater in geriatric people than the young generation. Old age is considered to be one of the biggest risk factors that are responsible for developing various diseases such as cardiovascular and neurological conditions. It is because of these factors, the global neurovascular devices market is experiencing robust growth in the forecast period of 2018 to 2026. Moreover, various favorable government regulations such as Family Smoking Prevention and Tobacco Control Act, that allows FDA with the power to control production, marketing and use of tobacco products, are another factors that are promoting the growth of global neurovascular devices market over the period of time.
Transparency Market Research provides a consolidated report on global neurovascular devices market. It encapsulates the various facets that can be insightful for the players who are willing to step in and grow in the market. The report enlightens developments, opportunities, challenges and key drivers that are responsible for the growth of the global neurovascular devices market during the forecast period.
Global Neurovascular Devices Market: Notable Development
The consolidated global neurovascular devices market is influenced by the activities of players such as Stryker Corporation, Johnson & Johnson, Penumbra, Inc. Abbott Laboratories, and Merit Medical Systems, Inc. These players are adopting strategies such as mergers, partnerships, and collaborations in order to acquire a competitive edge over their rivals in the global neurovascular devices market.
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Some of the notable development of the market are as follows;
- In December 2016, Codman Neuro, Johnson & Johnson subsidiary took over Pulsar Vascular Inc. The acquisition was aimed at enhancing the product portfolio of the company for hemorrhagic and ischemic stroke.
- Terumo Corporation, Abbott Laboratories and St. Jude Medical Inc. signed an agreement in December 2016. According to the agreement, Terumo Corporation acquired St. Jude Medical’s Angio-Seal and FermoSeal Vascular closure product line along with Abbott’s Vado Steerable Sheath. With this agreement, the acquirer enhanced its portfolio in minimal invasive site management. It also strengthened the company’s visibility in U.S. neurovascular devices market.
- July 2016, marked the launch of ACE 68 Reperfusion Catheter by Penumbra, Inc. The product was launched for acute ischemic stroke treatment. The device includes the latest technologies that are designed to deliver aspiration power to its full strength so as to extract thrombus in acute ischemic stroke.
These are the development that is influencing other players of global neurovascular devices market to invest heavily in research and development in order to compete with their rivals.
Global Neurovascular Devices Market: Key Drivers
With the launch of new and technologically advanced miniaturized neurovascular devices, the global neurovascular devices market is witnessing robust growth in the forecast period. Also, the commercialization of effective, easy-to-use, and technologically advanced neurovascular devices are influencing the growth of global neurovascular devices market in recent duration. Various developments in terms of technology, effectiveness, accuracy, and reduction in risk of traumas are one of the key factors that are promoting the growth of global neurovascular devices market.
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Moreover, various government bodies across multiple countries are proactively recognizing the benefits of neurosurgical and interventional neurology products. They are heavily accepting and acknowledging devices such as stents, coils, and flow diverters to offer better neurosurgical solutions to the people of their respective countries. Owing to these reasons, the global neurovascular devices market is expected to witness robust growth in the forecast period of 2018 to 2026.
Global Neurovascular Devices Market: Regional Analysis
North America is accounted for the highest growth in the global neurovascular devices market during the forecast period. The growth of the region is attributed to the favorable reimbursement structure, especially in U.S. and extensive research and development investments along with a variety of product launches by neurosurgeons. Finally, the availability of various advanced technology to improve the efficiency and reliability of neurovascular devices is also a major factor for North America to lead other regions of global neurovascular devices market in the forecast period.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.