Market Dynamics:

Large target patient population

With their proven clinical efficacy, interventional therapeutic procedures are being increasingly adopted for better diagnosis, monitoring, and therapy for neurological conditions. This is one of the major factors responsible for the rising adoption of interventional neurology products among the majority of neurosurgeons and medical professionals across the key markets, such as the U.S., Germany, France, the U.K., and Japan. Moreover, the significant volume consumption of neurovascular devices can be mainly attributed to the large and rapidly growing patient population base for target diseases across the key markets.

Dearth of skilled neurosurgeons

The procedural efficacy and medical complications arising during neurovascular treatments depend upon a neurosurgeon’s skills to precisely place or retrieve neurovascular devices in a patient’s body. As a result, a surgeon’s experience in operating a neurovascular device is of utmost importance.

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Complications in the treatment of unruptured aneurysms include operative morbidity, induced hypertension, hypervolemia, and silent thromboembolic events. Surgical clipping is an important therapeutic alternative to treat cerebral aneurysms.

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.

During this research study, major players operating in the interventional neurology market in various regions have been identified, and their offerings, regional presence, and distribution channels have been analyzed through in-depth discussions. Top-down and bottom-up approaches have been used to determine the overall market size. Sizes of the other individual markets have been estimated using the percentage splits obtained through secondary sources such as Hoovers, Bloomberg BusinessWeek, and Factiva, along with primary respondents. The entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews with industry experts such as CEOs, VPs, directors, and marketing executives for key insights (both qualitative and quantitative) pertaining to the market. The figure below shows the breakdown of the primaries on the basis of the company type, designation, and region considered during the research study.

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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