Future Trends, Drivers & Opportunity: Development of New Treatment Methods of Stroke, Progressive Aging Population, Increasing Demand for Minimally Invasive Procedures
The global Neurointerventional Devices market is expected to reach US$ 4,524.34 Mn in 2027 from US$ 2,323.02 Mn in 2018. The market is estimated to grow with a CAGR of 8.0% from 2019-2027.
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Driving factors of the neurointerventional devices are increasing demand for minimally invasive procedures and the rising the prevalence of the cerebral aneurysm are anticipated to drive the market. Also, progressive aging population is likely to have a positive impact on the growth of the market in the coming years. Besides, rising healthcare expenditure, and advancements in neurological techniques is likely to have a positive effect on the growth of the market in the forecast years.
A minimally invasive medical procedure is performed by inserting a small device or an implant in the body via an incision or anatomical opening in the body. Minimally invasive procedures have gained vast acceptability during recent years.
Products widely used in neurological surgeries include neurovascular embolization & coiling assist devices, such as embolic coils, flow diversion devices, and liquid embolic agents. In neurological procedures, embolic coils are used to isolate an aneurysm from the healthy circulation without blocking off any small arteries nearby or narrowing the main vessel. Coil embolization is a minimally invasive procedure used to treat an aneurysm by filling it with the material used for closing off the sac and reducing the risk of bleeding.
The process is performed “”within”” the artery (endovascular) using a steerable catheter, inserted into the bloodstream at the groin and later guided to the brain. Components such as tiny coils, mesh stents, or glue are used to help in clotting and closing of the aneurysm.
After the coil embolization procedure, the patient is admitted for a duration of around 12 to 24 hours. Once the vital organs are back to their normal functioning, the patient is allowed to go home. For instance, the coil embolization for the neurological procedure usually takes an hour and a half to three hours. Also, rising awareness about the minimally invasive procedures and availability of the reimbursement for the minimally invasive procedures are likely to foster the demand for a minimally invasive procedure. Thus, the factor mentioned above is expected to propel the market for neurointerventional devices at a significant rate during the forecast period.
The global Neurointerventional Devices market is segmented by type, technique and end user. On the basis of type, the market is segmented into neurovascular thrombectomy devices, neurovascular stents, embolic protection devices, intrasaccular devices, embolic coils, flow diverters, liquid embolics, balloons, and stent retrievers. The neurovascular thrombectomy devices segment is expected to dominate the type segment market due to increasing use of these devices to treat neurological diseases. Based on the end user, the market is segmented into ambulatory surgical centers and hospitals. Hospitals segment held the largest share of the end user segment during the forecast period.
Some of the important primary and secondary sources included in the report are, Food and Drug Administration, World Health Organization (WHO), All India Institute Of Medical Sciences, Regional Office For Healthcare Services, Brain Science Institute, São Paulo Research Foundation and others.
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This post was originally published on Food and Beverage Herald