Global Neurovascular Thrombectomy Devices Market: Overview
The growth of the global neurovascular thrombectomy devices market is likely to be driven by the rising incidence of ischemic stroke, which is one of the leading types of stroke. According to the findings of US-based Centers for Disease Control and Prevention (CDC), nearly 87% of all strokes are ischemic strokes and it is a leading cause of long-term disability. It has also estimated that such incidences of stroke are expected to rise in the next few years to come, especially in the middle- and low-income countries. This factor is estimated to foster growth of the global neurovascular thrombectomy devices market over the analysis timeframe, from 2020 to 2030.
In addition to that, studies suggest that ischemic stroke is rising amongst the youth owing to rapidly changing lifestyle of people. According to American Stroke Association, around 800,000 incidences of strokes are diagnosed in the US and almost 130,000 deaths are reported per year. High rate of mortality owing to ischemic stroke is likely to drive the growth of global neurovascular thrombectomy devices market over the analysis timeframe, from 2020 to 2030.
Disc type, location, material, and region are important factors in the market that has been considered for the classification of the global neurovascular thrombectomy devices market.
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Global Neurovascular Thrombectomy Devices Market: Notable Developments
The major players in the global neurovascular thrombectomy devices market are emphasizing on strategic moves like mergers and acquisitions to expand their product portfolio. Introduction of new items for size of the blood clot, location of the thrombus, and different diameters of blood vessels is likely to help players gather dominance in the market,
Some of the major players in the global neurovascular thrombectomy devices market are
- Edwards Lifesciences Corporation
- Teleflex Incorporated
- Spectranetics Corporation
- Boston Scientific Corporation
- Argon Medical Devices, Inc.
- Penumbra, Inc.
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Global Neurovascular Thrombectomy Devices Market: Key Trends
The global neurovascular thrombectomy devices market is foreseen to observe the prevalence of the following market drivers, opportunities, restraints, and developments.
Growth of the Market to be driven by Efforts to Raise Awareness about Ischemic Strokes
The use of neurovascular thrombectomy devices has emerged as an inseparable part of the guidelines that are recommended by American Stroke Association/ American Heart Association for treating ischemic stroke. New clinical trials are published on a regular basis to validate the benefits provided by neurovascular thrombectomy devices. Presence of a large pool of clinical data exhibits the effectiveness of these devices, which is likely to trigger growth of the global neurovascular thrombectomy devices market over the timeline of analysis, from 2020 to 2030.
Various non-profit organizations and governments are making increasing efforts to create awareness pertaining to ischemic stokes and preventive measures that could be taken. Increasing awareness about the disease and augmented adoption of these devices are anticipated to drive the demand for neurovascular thrombectomy devices in the years to come.
Increasing research and development activities by major companies to come up with new innovative products is likely to support market growth. Expansion of the presence of several leading market players in the developing countries through set up of manufacturing facilities to work in favor of the global neurovascular thrombectomy devices market in the years to come,
Global Neurovascular Thrombectomy Devices Market: Geographical Analysis
In the global neurovascular thrombectomy devices market, North America is expected to account for a large chunk of the market over the forecast timeline, from 2020 to 2030. The growth of the regional market is ascribed to the growing adoption of high-end, latest thrombectomy products amongst the surgeons. In addition, favorable medical reimbursements offered in the US and rise in the number of clinical trials are estimated to work in favor of the neurovascular thrombectomy devices market in North America.
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.