Neurovascular Occlusion Devices Market: Overview
- Neurovascular disease affects blood vessels in the brain, leading to various neurological conditions such as strokes and aneurysms. Venous sinus occlusive disease, a vascular abnormality, is caused due to various hypercoagulable states such as birth control pills, paraneoplastic syndromes, genetic variations, and smoking. Slow flow in the veins may lead to formation of clot, affecting the normal functioning of the brain. This may result in edema, stroke, or hemorrhage.
- These condition can be treated through a surgical procedure. A sheath is placed in the femoral artery of the patient and an angiogram is performed to determine the blood flow in the brain (from arteries to veins). The clot is then identified. Another sheath is then placed in the vein and catheter is inserted near the clot. A microcatheter is then passed through the clot, which is later removed, leaving the veins with normal blood flow.
- The global neurovascular occlusion devices market is anticipated to expand at a significant pace during the forecast period, owing to the increase in prevalence of neurological disorders, presence key players in the market, and development of new devices by market players
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Drivers of Global Neurovascular Occlusion Devices Market
- The global neurovascular occlusion devices market is expected to be driven by various factors such as technological advancements, increase in demand for neurological devices for management of various neurological disorders, and rise in number of players focusing on development of new neurovascular occlusion devices
- Prevalence of various neurovascular diseases such as aneurysms, arteriovenous malformations, cavernous malformations, and stroke has been increasing since the last few years. According to UCLA Health, deaths due to neurovascular diseases increased by 18% worldwide in 2017.
- Growth in the neurovascular occlusion devices market can also be ascribed to the increase in research and development efforts by market players and promising products in pipeline. Flex Embolization Device by Medtronic is currently under development. The device is expected to be used for endovascular treatment of adults with large or giant wide-necked intracranial aneurysms (IAs) in the internal carotid artery.
North America to Hold Major Share of Global Neurovascular Occlusion Devices Market
- North America is expected to account for the prominent share of the global neurovascular occlusion devices market during the forecast period. Growth of the neurovascular occlusion devices market in the region can be ascribed to an increase in investment in the medical device industry, availability of specialty care centers such as neurology hospitals and research centers, and growth in demand for minimally invasive surgical procedures to treat life threatening neurological disorders.
- According to the World Health Organization (WHO), neurovascular disease is the second leading cause of death in the U.S. According to UCLA Health, the number of deaths due to neurological disorders increased by 50.5% in the U.S. from 3,26,000 to 4,90,00 per year.
- Advancements in neurovascular disease therapies and increase in awareness about contribution of neurovascular to number of diseases such as dementia are projected to drive the neurovascular occlusion devices market
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Key Players in Global Market
Major players operating in the global neurovascular occlusion devices market are:
- MicroVention Inc. (Terumo Europe NV)
- MEDIKIT Co., Ltd.
- Anaconda Biomed SL
- Penumbra, Inc.
- Terumo Medical Corporation
Global Neurovascular Occlusion Devices Market: Research Scope
Global Neurovascular Occlusion Devices Market, by Treatment
- Embolization Coils
Global Neurovascular Occlusion Devices Market, by End-user
- Ambulatory Surgical Centers
Global Neurovascular Occlusion Devices Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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.
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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.