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According to a new market research study titled ‘Interventional Neuroradiology Market - Global Analysis and Forecasts by Product, Disease and End User. The global interventional neuroradiology market is expected to reach US$ 3,254.55 Mn in 2027 from US$ 1,969.39 Mn in 2018. The market is estimated to grow with a CAGR of 5.9% from 2019-2027. The report highlights the trends prevalent in the global interventional neuroradiology market and the factors driving the market along with those that act as deterrents to its growth. The market is expected to grow due to increasing demand for minimally invasive procedures and rise in the prevalence of the cerebral aneurysm.
Minimally invasive procedures are being performed widely during the recent years. Since these incisions are tiny, the patient recovers at a faster rate comparatively, with less discomfort. Some of the benefits of a minimally invasive procedure include, few small cuts, less trauma to the muscles, nerves and tissues, less bleeding & scarring, less tissue injury, less trauma to organs, less pain, faster oral intake and less hospital stay. Coil embolization is a minimally invasive procedure to treat an aneurysm by filling it with material that closes off the sac and reduces the risk of bleeding. It is performed from "within" the artery (endovascular) through a steerable catheter inserted into the blood stream at the groin and guided to the brain. Thus, owing to these factors the market for the interventional neuroradiology is likely to propel at a significant rate during the forecast period.
The prevalence of cerebral aneurysms has increased tremendously across the globe. Approximately, 30,000 people in the United States suffer from brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. The annual rate of rupture in the United States is found to be around 8 – 10 per 100,000 people. Currently, the cause of cerebral aneurysms is not clearly understood. However, brain aneurysms are associated with several causative factors, such as smoking, hypertension, and family history. Hence, the rising prevalence of cerebral aneurysms is anticipated to fuel the growth of the market during the forecast period.
Global interventional neuroradiology market, based on the disease was segmented into, acute strokes, cerebral aneurysms, intra-cranial tumors, and others. In 2018, the acute strokes segment held a largest market share of 42.16% of the interventional neuroradiology market, by disease. This segment is also expected to dominate the market in 2027 due to the rising prevalence of acute strokes, due to large incidence of causative factors such as diabetes or habits such as smoking. In addition, the segment is anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.
Some of the players operating in interventional neuroradiology market are, Balt Extrusion, Merit Medical Systems, Terumo Corporation, Medtronic, Penumbra, Inc., Stryker, DePuy Synthes, Boston Scientific Corporation, W. L. Gore & Associates, and MicroPort Scientific Corporation among others.The market players are focused towards bringing new and innovative products and services to sustain their position in the market. For instance, in January 2016, Penumbra, Inc., launched the Penumbra Occlusion Device (POD) Packing Coil in US, which is designed to be used as a complementary device with the company’s Ruby and POD embolization products. The developments performed by the companies are helping the market to grow in the coming years.
The report segments the global interventional neuroradiology market as follows:
Global Interventional Neuroradiology Market – By Product
Global Interventional Neuroradiology Market – By Disease
Global Interventional Neuroradiology Market – By End User
Global Interventional Neuroradiology Market – By Geography
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