According to the new market research report, "Neurovascular Devices/Interventional Neurology Market by Product (Embolization(Coil, Flow Diverter), Stents, Balloon Occlusion Devices, Clot Retrievers, Microcatheters), Pathology (Stroke, Aneurysm, CAS, AVM) User (Hospital, ASC) - Global Forecasts to 2026", size is expected to grow from an estimated USD 2.5 billion in 2021 to USD 3.8 billion by 2026, at a CAGR of 8.6%.
Browse and in-depth TOC on "Neurovascular Devices/Interventional Neurology Market"
261 - Tables
49 - Figures
281 - Pages
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Growth Boosting Factors:
The growing target patient population, ongoing product development, and commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across the emerging markets, growth in market demand for effective neurovascular devices, increase in research in the field of neurovascular therapies, rise in demand for minimally invasive neurosurgical procedures, and increase in awareness among neurosurgeons about minimally invasive surgical procedures are high growth prospects for the neurovascular devices market during the forecast period.
This study involved four major activities in estimating the current size of the interventional neurology market. Exhaustive secondary research was done to collect information on the market, peer market, and parent market. The next step was to validate these findings, assumptions, and market sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were used to estimate the total market size. After that, the market breakdown and data triangulation were done to determine the market size of the segments and sub-segments.
Market Size Estimation
Both top-down and bottom-up approaches have been used to estimate and validate the size of the neurovascular devices market and its dependent submarkets. These methods were also used extensively to determine the extent of various sub-segments in the market.
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After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides in the end-use industries.
The ambulatory care centers segment is expected to grow at the highest CAGR during the forecast period.
Based on end-user, the neurovascular devices market has been segmented into hospitals & surgical centers, ambulatory care centers, and research laboratories, and academic institutes. As of 2020, hospitals & surgical centers are estimated to account for the largest share of the global interventional neurology market in 2021, while ambulatory care centers are projected to register the highest CAGR during the forecast period. Growing patient preference for minimally invasive medical procedures, rising number of ambulatory surgery centers across developed countries, along with the ease of scheduling, the focused clinical staff, the improved productivity, and the increased safety, and efficacy of these centers, are the major factors that are expected to drive the growth of this end-user segment in the coming years.
North America is expected to be the largest market during the forecast period.
North America is estimated to be the largest market for neurovascular devices during the forecast period. The neurovascular devices/interventional neurology market in North America is driven primarily by factors such as the growing target patient population for neurovascular diseases, rising awareness among neurosurgeons regarding the benefits offered by interventional neurology devices, and ongoing government initiatives to modernize & expand healthcare infrastructure. Additionally, the adoption of these devices has increased due to falling product prices, thereby further supporting the market growth in this region.
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