The report "Neurovascular Devices/Interventional Neurology 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.
The following are the major objectives of the study
- To define, describe, and forecast the global neurovascular devices market on the basis of product, disease pathology, and region
- To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities)
- To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
- To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players
- To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
- To strategically profile the key market players and comprehensively analyze their market shares and core competencies
- To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the neurovascular devices/interventional neurology devices market
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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.
On the basis of disease pathology, the market is segmented into ischemic strokes, cerebral aneurysm, arteriovenous malformations & fistulas, and other diseases. The ischemic strokes segment is poised to be the fastest growing segment during the forecast period owing to growing incidence of ischemic stroke (coupled with exposure of larger proportion of global population to major risk factors such as smoking and diabetes), and increasing patient preference for minimally invasive therapeutic alternatives.
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.
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.
The key players in the neurovascular devices/interventional neurology market focused on various strategies such as product launches & enhancements; agreements and collaborations; strategic acquisitions; and expansions to increase market shares in the global market. Product launches & enhancements were the key strategies adopted by major industry players to achieve the desired market growth during 2013-2016.
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