WEB Devices Emerge as Less-invasive Alternative for Neurovascular Embolization Treatment

Healthcare companies in the neurovascular embolization devices (neurology) market have successfully established a strong foundation for treatment options with the help of embolization coils and liquid embolic systems. However, these treatment options present unique challenges in certain health conditions such as wide-neck bifurcated aneurysms. To overcome this challenge, manufacturers are introducing single-treatment saccular implants. Based on the same principle, healthcare companies in the neurovascular embolization devices (neurology) market are developing Woven EndoBridge (WEB) aneurysm embolization systems that overcome the complications associated with coil-assist devices and surgical clippings.

WEB devices are gaining prominence as a less-invasive treatment alternative for wide-neck intracranial aneurysms in the neurovascular embolization devices (neurology) market space. This is why, many healthcare companies are investing in WEB devices and seeking the approval of health commissions. For instance, in January 2019, MicroVention — a neuroendovascular medical device company, announced the launch of an FDA-approved WEB aneurysm embolization system for the treatment of wide-neck bifurcated aneurysms.

neurovascular embolization devices neurology market infographic

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Healthcare Companies Scale Market Growth with Flow-diverting Devices

Recent advances in device technology are more focused on the control and precision of device placement during deployment procedures. To achieve this, healthcare companies in the neurovascular embolization devices (neurology) market are innovating in flow diversion technology. This is evident, as among the products in the neurovascular embolization devices (neurology) market, flow diversion stents are estimated to have the second-highest revenue of ~US$ 215 million by 2027.

Flow diversion technology has triggered the need for improved devices in the neurovascular embolization devices (neurology) landscape. As such, manufacturers are increasing the availability of flow-diverting devices for use in hospitals and ambulatory surgical centers. However, flow-diverting devices lead to challenging complications such as vertebrobasilar aneurysms in patients. Thus, healthcare companies are overcoming this limitation by seeking licensed approval from health commissions, so that their devices are credible. They are increasing research & development to validate clinically-approved data on the long-term benefits of using flow-diverting devices.

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PED and Pipeline Flex: Reliable Treatment Options for Bifurcation Aneurysms

Although flow diversion stents result in fewer complications in patients, lack of clinical evidence about their long-term outcome remains a matter of debate. This is why, healthcare companies in the neurovascular embolization devices (neurology) market are supporting the treatment infrastructure with pipeline embolization devices (PEDs). Since these devices are outperforming other endoluminal devices, manufacturers are promoting their application for bifurcation aneurysms.

Posterior circulation aneurysm is another driver that is demanding the need for PEDs in the neurovascular embolization devices (neurology) market. As such, manufacturers are introducing variations in braided stents, local porosity, and filament position modeled with cone beam computed tomography to provide critical information to healthcare providers, prior to surgical treatments. PED technology is being rapidly transformed into pipeline flex technology. Although limited studies prove its long-term outcomes, pipeline flex is found to be a safe treatment option, and it serves as a short-term efficacy alternative.

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Analysts’ Viewpoint

The adoption of WEB devices for neurovascular embolization treatment is relatively slow in European countries. Thus, manufacturers in the neurovascular embolization devices (neurology) market should increase production capabilities for WEB devices in North America, since this region is projected to account for the largest market share in the neurovascular embolization devices (neurology) market over the forecast period.

Although embolization coils and flow diversion stents account for a significant amount of the revenue in the market, health complications associated with these products act as a hurdle for manufacturers. Taking a cue from the North America market, manufacturers in Europe and Asia Pacific should develop and promote WEB devices that will help create more incremental opportunities in these high-growth regions.

To gain credibility in the market, healthcare companies should seek approvals, such as the FDA Premarket Approval (PMA), to strategically market their product offerings in the highly consolidated global neurovascular embolization devices (neurology) market.

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Neurovascular Embolization Devices (Neurology) Market: Overview

  • The global neurovascular embolization devices (neurology) market was valued at ~US$ 1.2 Bn in the years 2018, and the market is anticipated to reach ~US$ 1.6 Bn by 2027, expanding at a CAGR of ~3% from 2019 to 2027.
  • North America, Europe, and Asia Pacific were major markets for neurovascular embolization devices (neurology) in 2018. The neurovascular embolization devices (neurology) market in Asia Pacific is expected to expand at a higher CAGR of ~% during the forecast period, as compared to all other regions.
  • Stroke is a cerebrovascular accident caused due to blockage of blood supply to the brain cells. It is a sudden death of some brain cells, as oxygen supply is affected due to a ruptured artery or vein that supplies blood to these cells.
  • Increase in incidence of neurovascular diseases across the globe, rise in the prevalence of stroke, increasing elderly patient pool, and surge in the demand for procedures that are minimally-invasive are factors that are anticipated to drive the global neurovascular embolization devices (neurology) market during the forecast period of 2019 to 2027.

Neurovascular Embolization Devices (Neurology) Market: Segment Analysis

  • Based on product, the global neurovascular embolization devices (neurology) market has been segmented into liquid embolic systems, embolization coils, aneurysm clips, flow diversion stents, and others. The embolization coils segment accounted for a major share of the neurovascular embolization devices (neurology) market in 2018.
  • Increase in the demand for embolization coils, as they are preferred over other products for the treatment of cerebral aneurysms with strong clinical trial data is likely to boost the growth of the segment.
  • The development of embolization-enabling stents has extended the application base of embolic coiling for treatment of wide-neck bifurcation aneurysms. These factors are anticipated to propel the demand for neurovascular embolization devices (neurology) in the near future.
  • The flow diverter stents segment is expected to grow at a rapid pace during the forecast period. Strong growth of the segment can be attributed to the launch of Bravo Flow Diverter by Cerenovus in Europe in August 2018. The device is designed to divert blood flow from cerebral aneurysms, thereby reducing the risk of rupture. Moreover, flow-diversion stents exhibit an increased surface area, which directs a high volume of blood away from the aneurysm and eliminates the requirement of coiling.
  • In terms of treatment, the global neurovascular embolization devices (neurology) market has been segmented into ischemic stroke solutions and hemorrhagic stroke solutions. The hemorrhagic stroke solutions segment is anticipated to expand at a substantial CAGR between 2019 and 2027.
  • Increase in the prevalence of high blood pressure and brain aneurysms is a key factor that leads to hemorrhagic stroke. Furthermore, it is one of the most common emergencies encountered in clinical practice affecting the elderly population, which is anticipated to boost the growth of the segment in the near future.
  • On the basis of indication, the global neurovascular embolization devices (neurology) market has been categorized into brain aneurysm, arteriovenous malformations, and others. Surge in the number of cases of complex cerebral aneurysms across the world, and launch of novel neurovascular embolization devices (neurology) such as embolic stents and coils, are estimated to propel the segment during the forecast period.
  • Based on end user, the global neurovascular embolization devices (neurology) market is segmented into hospitals, ambulatory surgical centers, and specialty clinics. Hospitals accounted for a dominant share of the global neurovascular embolization devices (neurology) market in 2018, owing to a surge in the demand for minimally-invasive procedures for the treatment of stroke.
  • The availability of expert and skilled neurosurgeons and increase in the adoption of technologically-advanced devices in hospitals are other factors anticipated to boost the growth of the hospitals segment in the near future.

Neurovascular Embolization Devices (Neurology) Market: Key Insights

  • Coiling is a preferred mode of treatment for both, ruptured and unruptured brain aneurysms, which were initially treated by surgical clippings. Research studies have indicated that, the long-term success rate of coiling in brain aneurysms is over 85%.
  • The success rate of endovascular coiling for the treatment of cerebral aneurysms has led to a paradigm shift from clippings to coiling. All these factors are anticipated to drive the growth of the global neurovascular embolization devices (neurology) market in the coming years.
  • The launch of innovative embolization systems by industry players is anticipated to augment the global neurovascular embolization devices (neurology) market in the near future.
  • Developing economies such as India and China offer significant opportunities in the neurovascular embolization devices (neurology) market. Major factors include:
    • Rise in the prevalence and incidence rate of stroke in developing countries such as India and China, and growing geriatric patient pool, offer significant opportunities to market players to exploit these untapped markets. This is expected to drive the neurovascular embolization devices (neurology) market in the near future. For instance, approximately 15% of the China’s population was aged over 60 years in 2015, which is expected to increase to 36.5% by 2050.
  • All these factors provide several opportunities to players in the neurovascular embolization devices (neurology) market in these regions.

Neurovascular Embolization Devices (Neurology) Market: Prominent Players

  • Key players in the global neurovascular embolization devices (neurology) market have been profiled based on attributes such as company overview, product portfolio, financial overview, recent developments, and competitive business strategies
  • Major companies profiled in the global neurovascular embolization devices (neurology) market report are
    • DePuy Synthes (Johnson & Johnson Services, Inc.)
    • Terumo Medical Corporation
    • Stryker Corporation
    • Boston Scientific Corporation
    • Penumbra, Inc.
    • Acandis GmbH
    • BALT EXTRUSION
    • Spartan Micro, Inc.
    • B. Braun Melsungen AG.

Neurovascular Embolization Devices (Neurology) Market – Scope of the Report

TMR’s report on the global neurovascular embolization devices (neurology) market studies the past as well as current growth trends and opportunities to gain valuable insights of the same indicators for the said market during the forecast period of 2019 to 2027. The report provides the overall market revenue of the global neurovascular embolization devices (neurology) market for the period of 2017–2027, with 2018 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global neurovascular embolization devices (neurology) market for the forecast period.

The report has been prepared after extensive research. Primary research involves bulk of the research efforts, wherein, analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involves referring to key players’ product literature, annual reports, press releases, and relevant documents, to understand the global neurovascular embolization devices (neurology) market.

Secondary research also includes Internet sources, statistical data from government agencies, websites, and trade associations. Analysts have also employed a combination of the top-down and bottom-up approaches to study various phenomena in the global neurovascular embolization devices (neurology) market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global neurovascular embolization devices (neurology) market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global neurovascular embolization devices (neurology) market. The next section of the global neurovascular embolization devices (neurology) report highlights the USPs, which include the regulatory scenario, reimbursement scenario, key mergers & acquisitions, technological advancements, and key industry developments in the global neurovascular embolization devices (neurology) market. 

The report delves into the competitive landscape of the global neurovascular embolization devices (neurology) market. Key players operating in the global neurovascular embolization devices (neurology) market have been identified, and each one of them has been profiled for their distinguishing business attributes. Company overviews, financial standings, recent developments, and SWOTs are some of the attributes of players in the global neurovascular embolization devices (neurology) market profiled in this report.

Key Questions Answered in the Neurovascular Embolization Devices (Neurology) Market Report

  1. What are the major drivers, restraints, opportunities in the market?
  2. What are the revenue share projections of key segments in the global neurovascular embolization devices (neurology) market for the forecast period?
  3. Which segment is likely to lead the neurovascular embolization devices (neurology) market in terms of revenue by 2027?
  4. How are mergers & acquisitions among players widening the scope of the neuroendovascular embolization devices (neurology) market?
  5. What is the market position of different companies operating in the global neurovascular embolization devices (neurology) market?

Research Objectives and Research Approach

The comprehensive report on the global neurovascular embolization devices (neurology) market begins with an overview of the said market, followed by the scope and objectives of this study. Following this, the report provides detailed explanation of the objectives behind this study and healthcare compliances laid down by accredited agencies in the purview of research in the global neurovascular embolization devices (neurology) market. It is followed by a market introduction, market dynamics, and an overview of the global neurovascular embolization devices (neurology) market, which includes TMR’s analysis of the market drivers, restraints, and trends affecting the growth of the global neurovascular embolization devices (neurology) market. Furthermore, to understand the Y-o-Y trends of the neurovascular embolization devices (neurology) market, a Y-o-Y analysis with elaborated insights on the same have been provided.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section further divided into small sections. The entire report comprises an exhaustive collection of graphs and tables that are appropriately interspersed in the entire compilation. Pictorial representation of actual and projected values of key segments is visually appealing to the readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

Neurovascular Embolization Devices (Neurology) Market – Segmentation 

Product

  • Embolization Coils
  • Liquid Embolic Systems
  • Flow Diversion Stents
  • Aneurysm Clips
  • Others

Treatment

  • Ischemic Stroke Solutions
  • Hemorrhagic Stroke Solutions

Indication

  • Brain Aneurysms
  • Arteriovenous Malformation (AVM)
  • Others

End User

  • Hospitals
  • Ambulatory Surgical Centers
  • Specialty Clinics

Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa