(EMAILWIRE.COM, April 27, 2018 ) The global neurovascular devices/interventional neurology market is expected to reach a value of USD 2.62 Billion by 2021; growing at a CAGR of 8.6% during 2016-2021. A number of factors such as growing target patient population, ongoing product development & commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, growing market demand for effective neurovascular devices, increasing number of researches in the field of neurovascular therapies, rising demand for minimally invasive neurosurgical procedures, and increasing awareness among neurosurgeons about minimally invasive surgical procedures. However, dearth of skilled neurosurgeons and stringent regulatory policies are the key challenges faced by leading players in the global neurovascular devices/interventional neurology market.

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On the basis of products, the neurovascular devices/interventional neurology market is segmented into aneurysm coiling and embolization devices, cerebral balloon angioplasty and stenting systems, support devices, and neurothrombectomy devices. The aneurysm coiling and embolization devices segment is expected to hold the largest share of the interventional neurology market in 2016. The large market share of this segment can be attributed to the growing end-user preference for minimally invasive neurosurgical procedures and increasing market availability of embolic coils for neurovascular treatment.

On the basis of pathology, the neurovascular devices/interventional neurology market is segmented into ischemic strokes, cerebral aneurysm, arteriovenous malformations & fistulas, and other diseases. The ischemic strokes segment is expected to hold the largest share of the global neurovascular devices/interventional neurology market in 2016. Dominant market position of ischemic strokes segment is attributed to rising prevalence 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 neurosurgical technologies.

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On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. In 2016, the global interventional neurology market is expected to be dominated by North America. North American region is expected to dominate the neurovascular devices/interventional neurology market during study period owing to significant adoption of neurovascular devices among neurosurgeons in neurovascular disease treatment, growing number of clinical trials (that aim to evaluate the therapeutic efficacy of neurovascular devices) and significant medical reimbursement available in the U.S. for neurosurgical procedures.

New product launches and enhancements are the key growth strategies adopted by major players to develop their positions in the global neurovascular devices/interventional neurology market. Moreover, strategies such as agreements and collaborations; strategic acquisitions; and market expansions were also adopted by a significant number of market players to strengthen their product portfolios, distribution networks and expand their geographic presence in the global neurovascular devices/interventional neurology market.

As of 2015, Stryker Corporation (U.S.), Medtronic plc (U.S.), Johnson & Johnson (U.S.), and Terumo Corporation (Japan) are the top four players in the market. Other prominent players present in the market include 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), among others.

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