The North America Neurovascular Devices Market would witness market growth of 8.1% CAGR during the forecast period (2022-2028).
The primary element driving the market's growth is the increase in the elderly population. In addition, other elements, including the upsurge in the use of neurovascular devices and the rise in the prevalence of neurovascular disorders, support market expansion. Furthermore, the market for neurovascular devices is also growing for additional reasons, such as the explosion in technological breakthroughs linked to these devices. Also, participants in the neurovascular devices market have lucrative potential owing to the rapid development rates displayed by developing countries.
The market is anticipated to experience growth during the forecast period because of the increasing incidence of neurological conditions and the increasing adoption of neurovascular devices for diagnosing and treating ailments. Neurovascular conditions, such as brain aneurysms, carotid artery disease, arteriovenous malformations (AVMs), and intracranial atherosclerotic disease, significantly negatively impact health and the world economy. These conditions can lead to neurological issues, including subarachnoid hemorrhage, stroke, disability, and even death.
In the United States, stroke is the main factor responsible for most of the long-term disabilities. According to CDC statistics, one in six cardiovascular disease-related fatalities in 2020 was caused by stroke. Around 87% of all strokes were ischemic strokes, in which the blood supply to the brain is blocked. Throughout 2017 and 2018, the cost of stroke in the United States was over $53 billion. Stroke is primarily brought on by high blood pressure, smoking, high cholesterol, obesity, and diabetes. At least one of the aforementioned conditions or behaviors affects one in three adults in the United States.
The US market dominated the North America Neurovascular Devices Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,119.7 million by 2028. The Canada market is poised to grow at a CAGR of 10.5% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 9.6% during (2022 - 2028).
Based on End User, the market is segmented into Hospital & Surgery Centers, Ambulatory Care Centers and Research laboratories & Academic Institutes. Based on Technology, the market is segmented into Embolization & Coiling (Embolic Coils, Flow Diversion Devices and Liquid Embolic Agents), Neurothrombectomy Devices (Clot Retrievers, Suction & Aspiration Devices, and Snares), Cerebral Balloon Angioplasty & Stenting Systems (Carotid Artery Stents and Embolic Protection Systems), and Support Devices (Microcatheters and Microguidewires). Based on Disease Pathology, the market is segmented into Cerebral Aneuryms, Ischemic Strokes, Cartoid Artery Stenosis, Arteriovenous Malformation & Fistulas (AVM) and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Neurovascular Devices Market is Predict to reach $4.2 Billion by 2028, at a CAGR of 8.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Medtronic PLC, Stryker Corporation, Johnson & Johnson, Terumo Corporation, Merit Medical Systems, Inc., MicroPort Scientific Corporation, Medikit Co. Ltd., and W. L. Gore & Associates, Inc.
By End User
By Technology
By Disease Pathology
By Country
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