PUBLISHER: Grand View Research | PRODUCT CODE: 1375876
PUBLISHER: Grand View Research | PRODUCT CODE: 1375876
The global neurovascular embolization devices market size is anticipated to reach USD 1.76 billion by 2030, registering a CAGR of 6.60% from 2023 to 2030, according to a new report by Grand View Research, Inc.. Increased stroke incidence, growth in demand for minimally invasive procedures, mergers and partnerships among the industry key players drives the market growth. The market is growing rapidly in developing nations with expanding disposable incomes and improved access to healthcare. Device manufacturers have new opportunities for growth as a result of this which is anticipated to expand the market globally.
The rising prevalence of stroke around the world is the main factor driving the growth of the market. Stroke is one of the main causes of disability and death, and as the world's population ages, risk factors for stroke, like diabetes and high blood pressure, are more common. The need for neurovascular embolization tools used in the treatment and prevention of strokes has increased as an outcome of this. Over the course of the projected period, it is anticipated that the prevalence of brain aneurysms and strokes will fuel global market expansion.
For instance, the World Stroke Organization predicted that by 2022, the prevalence of strokes already reached epidemic levels. Over 12.2 million people worldwide were estimated to experience a stroke for the first time this year, and 6.5 million deaths were projected as a result, with 1 out of every 4 adults over the age of 25 expected to suffer a stroke in their lifetime.
The effectiveness and safety of therapies have increased due to ongoing developments in neurovascular embolization technology. Leading medical device companies are expanding their product lines in the neurovascular industry, increasing rivalry and fostering innovation. The key industry players are involved in product manufacturing and development for the advancements in the neurovascular embolization sectors which boosts the industry growth. For instance, in February 2023, the German EMBO-Post Market Surveillance Registry's first patient was treated by Shape Memory Medical. Peripheral vascular embolization was carried out using the IMPEDE and IMPEDE-FX embolization plugs from the company's perspective, multicenter registry research.
Neurovascular Embolization Devices Market Highlights