The global neurovascular devices market was valued at $2.93 billion in 2019, and is expected to reach $3.71 billion by 2027, registering a CAGR of 5.2%

PORTLAND, OREGON, US, December 24, 2021 /EINPresswire.com/ -- According to a new report published by Allied Market Research, titled, "Neurovascular Devices Market, by Product, and Disease Pathology: Opportunity Analysis and Industry Forecast, 2019–2027". The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

The global neurovascular devices market was valued at $2.93 billion in 2019, and is expected to reach $3.71 billion by 2027, registering a CAGR of 5.2% from 2019 to 2027. Neurovascular devices are used in treatment of disorders related to blood vessels that carry oxygen rich blood to brain. In addition, there are various types of neurovascular devices available in the market, which exhibit different mechanism of action.

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In 2019, North America accounted for the major share of the neurovascular devices market size, and is expected to continue this trend, owing to presence of large number of key players operating in the neurovascular devices market. For instance, some key players that operate in the region include Stryker Corporation, Penumbra, Inc., Johnson & Johnson, and Merit medical systems, Inc. Thus, presence of key players in the region leads to easy availability of neurovascular devices. Moreover, other factors such as surge in prevalence of neurovascular disorders is another major factor that boosts growth of the market in the region. Moreover, Asia-Pacific is expected to exhibit fastest growth rate, owing to surge in awareness related to use of neurovascular devices. The other factors that boost growth of the market include surge in healthcare expenditure.

Key Findings Of The Study:

• By product, the embolization devices segment occupied more than two-fifths share of the global neurovascular devices market in 2019
• By application, the aneurysm segment occupied around half the share of the global neurovascular devices market in 2019.
• By products, the revascularization devices segment is expected to exhibit highest CAGR during the forecast period.
• By region, Asia-Pacific is anticipated to grow at the highest rate during the analysis period.

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The global neurovascular devices market is highly competitive and the prominent players in the market have adopted various strategies to garner maximum neurovascular devices market share. These include collaboration, product launch, partnership, and acquisition. Major players operating in the market include Medtronic Plc, Stryker Corporation, Penumbra, Inc., Johnson & Johnson, Terumo Corporation, Merit Medical Systems, Inc.., Integer Holdings Corporation, Acandis GmbH., W. L. Gore & Associates, Inc., and Microport Scientific Corporation.

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