Asia Pacific Neurovascular Devices Market is expected to reach US$ 946.48 Mn by 2027

Aneurysm coiling & embolization devices segment by product is estimated to lead the market growth during the forecast period

According to a new market research study of “Europe Neurovascular Devices Market Forecast to 2027 - COVID-19 Impact and Analysis by Product, Application, and End User,” The Asia Pacific neurovascular devices market is expected to reach US$ 946.48 Mn in 2027 from US$ 664.86 Mn in 2019. The market is estimated to grow with a CAGR of 4.6% from 2020-2027. The report highlights trends prevailing in the Asia Pacific Neurovascular Devices Market instruments market and the factors driving market along with those that act as hindrances.

The Asia Pacific neurovascular devices market, based on the product was segmented into neurothrombectomy devices, aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems and support devices. The aneurysm coiling & embolization devices held the largest share of the market in 2019, and is expected to register the highest CAGR in the market during the forecast period.

Neurovascular devices are used for the treatment of neurovascular diseases that possibly affects the network of blood vessels that surround the brain. This leads to incurable conditions such as strokes and aneurysms. Neurovascular devices are used to prevent stroke, aneurysm embolization, carotid stenosis and other symptoms. Neurovascular devices are also used for performing surgical procedures to treat aneurysms and other cranial blood flow problems. The prevalence of cerebral aneurysms has increased tremendously across the globe. According to statistics published by Medanta, every year in India, around 76,000 to 200,000 cases of cerebral aneurysms are reported to have occurred. A brain aneurysm ruptures every 18 minutes.  Thus, it is estimated that the rising prevalence of cerebral aneurysms is likely to fuel the growth of the market during the forecast period.

Key factors that are driving growth of the Asia Pacific Neurovascular Devices market are Increasing Incidences of neurovascular diseases, rising demand for minimally invasive procedures, and significantly growing aging population. However, the market is expected to grow at slower pace owing to the factors such as high cost of embolization coils and lack of expert professionals operating neurovascular disorders.

Penumbra, Inc.; Stryker Corporation; and Medtronic plc are among the leading companies operating in the Asia Pacific Neurovascular Devices market.

The report segments in Asia Pacific Neurovascular Devices Market as follows:

By Product

• Neurothrombectomy Devices
  • Clot Retrieval Devices
  • Suction & Aspiration Devices
  • Snares
• Aneurysm Coiling & Embolization Devices
  • Embolic Coils
    • Bare Detachable Coils
    • Coated Detachable Coils
  • Flow Diversion Devices
  • Liquid Embolic Agents
• Cerebral Balloon Angioplasty & Stenting Systems
  • Carotid Artery Stents
  • Embolic Protection Systems
    • Balloon Occlusion Devices
    • Distal Fillers
• Support Devices
  • Microcatheters
  • Microguidewires

By Application

• Cerebral Aneurysms
• Arteriovenous Malformation & Fistulas
• Other Applications

By End User

• Hospitals
• Ambulatory Surgical Centers
• Specialized Clinics

By Country

• China
• Japan
• India
• South Korea
• Australia
• Rest of Asia Pacific