Rise in prevalence of neurovascular diseases, increase in geriatric population across the U.S., technological advancements associated with neurovascular devices, and surge in incidence of underlying disease conditions drive the growth of the U.S. Neurovascular Devices market. Based on form, the embolization devices segment accounted for highest market share in 2019. On the other hand, based on disease pathology, the aneurysm segment has dominated the market in 2019.
The U.S. neurovascular devices market was valued at $946 million in 2019, and is projected to reach $1,071 million by 2027, registering a CAGR of 3.8% from 2020 to 2027.
Growth of the U.S. neurovascular devices market is attributed to rise in prevalence of neurovascular disease across the U.S. Furthermore, technological advancements related to neurovascular devices, and increase in geriatric population are the other factors that contribute to the growth of the market.
The U.S. neurovascular devices market is segmented on the basis of product and disease pathology. Based on product, the market is divided into embolization devices, revascularization devices, thrombectomy devices, embolic protection devices, and accessory devices. The embolization devices segment contributed to more than two-fifths of the U.S. neurovascular devices market in 2019, and is estimated to maintain its lead position during the forecast period. On the other hand, the revascularization devices segment is anticipated to register the highest CAGR of 5.4% from 2020 to 2027.
Neurovascular devices market in 2019, owing to surge in prevalence of the aneurysm, increase in demand for minimally invasive neurosurgical procedures, government initiatives to modernize healthcare infrastructure, technological advancement in neurovascular treatments, and increase in product approvals of new devices used in the treatment of aneurysm drive the growth of this segment.
The leading market players in the report include B. Braun Melsungen AG, Integer Holdings Corporation, Johnson & Johnson (Cerenovus), Medtronic Plc., Merit Medical Systems, Inc., Microport Scientific Corporation, Penumbra, Inc., SAES Getters SpA (Memry Corporation), Stryker Corporation, Terumo Corporation (Microvention, Inc.).
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