The global neurovascular devices market size is anticipated to reach USD 4.2 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.9% from 2021 to 2028. Increasing incidence of neurological disorders such as stroke, brain aneurysm, cerebral artery stenosis, are fueling the market growth. For instance, the Stroke Association states, more than 100,000 people suffer from stroke every year in the U.K. Thereby, the numbers reveal the high demand for neurovascular equipment, thus leading to market growth.
Decreased postoperative pain, a speedy recovery is leading to increasing adoption of minimally invasive surgeries and triggering the growth of R&D in this field. The endovascular coiling used for the treatment of intracranial aneurysm is one of the minimally invasive procedures and is widely recommended by physicians. As compared to the bare-platinum coils, HydroCoils (MicroVention, Tustin, California, USA) has enabled the treatment of more complex aneurysmal structures with lower recurrence rates. Thus, the rising demand for minimally invasive procedures is further fueling the market growth.
Patients suffering from Covid-19 have subsequently exhibited neurologic symptoms that are expected to create a favorable environment for market growth. For instance, as per the study in Lancet, 1 in 3 COVID patients who recovered have neurological and mental health disorders. The study was led by Oxford University researchers and included over 2 lakh COVID patients who recovered from the disease. Such instances will surge the demand for neurovascular equipment. Thus, COVID-19 might have a positive impact on the market in the coming years.
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Neurovascular Devices Market Report Highlights
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Neurovascular Devices Market Segmentation
Grand View Research has segmented the global neurovascular devices market on the basis of device, therapeutic application, and region:
Neurovascular Device Outlook (Revenue, USD Million, 2016 – 2028)
Neurovascular Device Therapeutic Application Outlook (Revenue, USD Million, 2016 – 2028)
Neurovascular Device Regional Outlook (Revenue, USD Million, 2016 – 2028)
List of Key Players of Neurovascular Devices Market
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About Grand View Research
Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.
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