Global Neurovascular Devices Industry to Get Latest Technological Advancements
Posted by Makarand Vaidya on February 19th, 2020
The report "Neurovascular Devices Market by Product (Embolic Coils, Stents, Neurothrombectomy Devices, Microcatheters, Balloon Occlusion Devices, Flow Diversion Devices, Clot Retrievers), Pathology (Aneurysm, AVM) - Global Forecasts to 2021", This report studies the neurovascular devices/interventional neurology market over the forecast period of 2016 to 2021. The market is expected to reach USD 2.62 Billion by 2021 at a CAGR of 8.6% during 2016 to 2021.
Major Market Developments:
# In December 2016, Codman Neuro (a subsidiary of Johnson & Johnson) acquired Pulsar Vascular Inc. (US), this acquisition aimed at the enhancement of product portfolio for hemorrhagic and ischemic stroke.
# In December 2016, Terumo Corporation signed an agreement with Abbott Laboratories (U.S.) and St. Jude Medical, Inc. (U.S.). The agreement was aimed at acquisition of St. Jude Medical’s Angio-Seal and FemoSeal vascular closure & Abbott’s Vado Steerable Sheath. This agreement helped Terumo Corporation to enhance the product portfolio in minimally invasive entry site management and strengthen its visibility in the U.S. neurovascular and interventional neurology devices market.
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# In July 2016, Medtronic plc launched its Pivox Oblique Lateral Spinal System with Lateral Plate for OLIF25 and Divergence-L Anterior/Oblique Lumbar Fusion System for OLIF51 for the development of OLIF (Oblique Lateral Interbody Fusion) Platform. The OLIF platform is a minimally invasive spine fusion procedures utilized for the placement of an implant into the disc space for anterior column support.
# In July 2016, Penumbra, Inc. launched ACE 68 Reperfusion Catheter for the treatment of acute ischemic stroke. It includes latest technological advancements to deliver maximum aspiration power for extracting thrombus in acute ischemic stroke patients.
# In February 2015, Terumo Corporation announced the establishment of its R&D center in Southern California (U.S.) with an investment of USD 84.0 million (~JPY 10.0 billion). The R&D center will commence operations in 2017, and is mandated to focus on R&D programs related to coronary and peripheral interventional therapies (including neurovascular surgeries).
Target Audience:
# Original Equipment Manufacturers (OEMs)
# Product Sales and Distribution Companies
# Healthcare Service Providers (Hospitals and Surgical Centers)
# Non-government Organizations
# Government Regulatory Authorities
# Research Laboratories and Academic Institutes
# Clinical Research Organizations (CROs)
# Research and Development Companies
# Market Research and Consulting Firms
On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is the fastest-growing geographic segment in the neurovascular devices/interventional neurology market. The large market growth of this geographic segment can be attributed to the presence of a large patient population base for target diseases, rising awareness among neurosurgeons related to the benefits offered by interventional neurology devices, and ongoing government initiatives to modernize & expand healthcare infrastructure.
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As of 2015, Stryker Corporation (U.S.), Medtronic plc (U.S.), Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc. (U.S.), Abbott Laboratories (U.S.), Merit Medical Systems, Inc. (U.S.), W. L. Gore & Associates, Inc. (U.S.), and MicroPort Scientific Corporation (China) are some of the key players operating in the global market.
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