Tissue plasminogen activators (tPAs) are used for treatment of stroke, aneurysms, stenosis, and vascular malformations. A study published in the New England Journal of Medicine stated that Neurointerventional surgery in addition to IV-administered "clot-busting" tissue plasminogen activator (IV-tPA) therapy is more effective than administering IV-tPA alone for the treatment of stroke.
According to the Brain Aneurysm Foundation (BAF), brain aneurysm accounts for around 500,000 deaths each year. BAF estimates that aneurysm is predominant in the age group of 35–60 years. Moreover, globally around 15 million people suffer a stroke every year, as per stats released by the World Heart Federation. High incidence of stroke and brain aneurysm is contributing to increasing demand for interventional neurology devices. Furthermore, introduction of new techniques such as flow diverter and aspiration are propelling demand for interventional neurology devices. The global Interventional neurology market was valued at US$ 1,694.5 million in 2015 and is expected to expand at a CAGR of 5.3% during the forecast period (2016 – 2024).
Factors such as increasing prevalence of brain aneurysms, and stroke, government programs to decrease the burden of traumatic brain injury, technological advancements plugging treatment gaps and availability of reimbursement are driving demand for neurointerventional devices. However, high cost and negative perception about neurointerventional devices is impacting the demand negatively. Companies are therefore, adopting different strategies such as providing FDA approved on-site training, strategic collaborations, and technology upgrades in order to increase their market presence and engage with customers.
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This report segments the interventional neurology market on the basis of product type, technique, therapeutic application and end use. On the basis of product type the market has been segmented into embolic coils, carotid stents, intracranial stents, neurovascular thrombectomy devices, embolic protection devices, and flow diverter devices. On the basis of technique, the market is segmented into Neurothrombectomy Procedure, Cerebal Angiography Technique, Stenting Technique, Coiling Procedure Technique, and Flow Disruption Technique. The therapeutic application of interventional neurology devices include brain aneurysm, ischemic strokes, artery stenosis, vein stenosis and others. In terms of end use, the global interventional neurology market is analyzed for hospitals and ambulatory centers. The market is also analyzed across major geographies namely North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Key features of the study:
This report provides in-depth analysis of neurointerventional devices and their usage preferences
This study provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR) (%) for the forecast period (2016 – 2024), considering 2015 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this industry
This study provides vital insights about market drivers, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the market players
The report takes into account these factors in addition to the critical limiting factors and evolving industry trends while analyzing the market value and growth (%) during the forecast period
Global Interventional Neurology Market, By Product Type:
Neurovascular thrombectomy devices
Embolic protection devices
Flow diverter devices
Liquid Embolic Devices
Market players need to address demand-shift in devices and procedural techniques
The global Interventional neurology market is undergoing a demand-shift in terms of products and techniques to treat stroke and aneurysms. For instance, demand for bare platinum coils is growing at a rapid pace as compared to that for coated coils. This is mainly due to high costs of coated coils and their less improved clinical outcomes compared to bare platinum coils. The highly touted International Subarachnoid Aneurysm Trial (ISAT) demonstrated improved clinical outcomes with coils rather than clipping, which resulted in decline in the usage of clips in neurovascular surgery.
Strategic channel distribution agreements among manufacturers to bolster their regional reach
Codman Neuro entered into agreement with InNeuroCo, Inc. for the European distribution rights for intermediate catheters (ICs). Similarly, Covidien (now Medtronic) entered into an exclusive distribution agreement with Pulsar Vascular, Inc. to market and promote PulseRider in Europe, the Middle East, and Africa. PulseRider is a minimally invasive device intended for use (with embolic coils) for treatment of unruptured wide-neck intracranial aneurysms. Such strategic distribution partnership are helping market leaders to expand their global footprint. Click To Read More On Interventional Neurology Market