Global Interventional Neurology Market Outlook With Industry Review And Forecasts
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.
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).
To understand Research Methodology, please click: https://www.coherentmarketinsights.com/insight/request-sample/56
Neurovascular conditions such as stroke and aneurysms are generally treated with tissue plasminogen activators (tPAs). However, use of neurointerventional devices along with the medication therapy is more effective in removing clots and reducing the risk of early recurrence of the condition. Interventional neurology technology has been evolving rapidly, which is resulting in demand shift from clipping to coiling, coated to bare platinum coils, and so on.
Innovative neurointerventional devices to cannibalize conventional neurointerventional devices
Coiling is the conventional and more of a gold standard treatment technique for stroke. Increasing complexities in treating patients suffering from recurring stroke incidents is driving demand for advanced technological products. Neurointerventional devices such as Intrasaccular devices, stent retrievers, and flow diverters are expected to gain major traction during the forecast period (2016 – 2024). Intrasaccular devices are expected to be launched in the U.S. and Japan market by 2018. Realizing the benefits of stent retrievers, the American Heart Association and American Stroke Association have issued guidelines, recommending the use of stent retrievers along with tPA for treatment of stroke.
The American Heart Association (AHA) guidelines to treat acute ischemic stroke recommends deploying regional systems for stroke care. Deployment of stent retrievers is recommended at individual stroke centers or within hospitals for stroke care.
Penumbra 3D Revascularization Device (next-generation stroke-treatment device) proved more effective with Penumbra aspiration device according to the studies conducted by Penumbra, Inc. as compared to using the aspiration device alone.
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.
Ask for customization: https://www.coherentmarketinsights.com/insight/request-customization/56
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.
You may be interested
Refurbished Medical Equipment Market Positive long-term growth outlook 2018-2026Albert R - August 19, 2018
Refurbished Medical Equipment Market report 2018-2026 focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market…
Stem Cell Assay Market Trends Estimates High Demand by 2026Albert R - August 19, 2018
Stem Cell Assay Market report 2018-2026 focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market…
Urolithiasis Management Devices Market to Grow Like Never Before By 2026Albert R - August 19, 2018
Urolithiasis Management Devices Market report 2018-2026 focuses on the major drivers and restraints for the key players. These research report also provides granular analysis of the market…