The following are the major objectives of the study:
# To define, describe, and forecast the global neurovascular devices market on the basis of product, disease pathology, and region.
# To provide detailed information regarding major factors influencing growth of the market (drivers, restraints, and opportunities)
# To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contributions to the overall market
# To analyze the opportunities in the market for key stakeholders and provide details of the competitive landscape for leading market players
# To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
# To strategically profile the key market players and comprehensively analyze their market shares and core competencies
# To track and analyze competitive developments such as acquisitions, expansions, new product launches, agreements, and collaborations in the neurovascular devices/interventional neurology devices market
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The neurovascular devices market is expected to reach USD 2.62 billion by 2021 from USD 1.74 billion in 2016, at a CAGR of 8.6% from 2016 to 2021. Major factors driving the growth of this market include growing target patient population, ongoing product development & commercialization, favorable medical reimbursements, expansion of healthcare infrastructure across emerging markets, and growing market demand for effective neurovascular devices.
# Original Equipment Manufacturers (OEMs)
# Product Sales and Distribution Companies
# Healthcare Service Providers (Hospitals and Surgical Centers)
# Non-government Organizations
# Government Regulatory Authorities
# Research Laboratories and Academic Institutes
# Clinical Research Organizations (CROs)
# Research and Development Companies
# Market Research and Consulting Firms
On the basis of geography, this market is classified into four regions, namely, North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is the fastest-growing geographic segment in the neurovascular devices/interventional neurology market.
The large market growth of this geographic segment can be attributed to the presence of a large patient population base for target diseases, rising awareness among neurosurgeons related to the benefits offered by interventional neurology devices, and ongoing government initiatives to modernize & expand healthcare infrastructure.
The key players in the neurovascular devices/interventional neurology market focused on various strategies such as product launches & enhancements; agreements and collaborations; strategic acquisitions; and expansions to increase market shares in the global market. Product launches & enhancements were the key strategies adopted by major industry players to achieve the desired market growth during 2013-2016.
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This strategy was mainly adopted by Stryker Corporation (U.S.), Medtronic plc (U.S.), Johnson & Johnson (U.S.), Terumo Corporation (Japan), Penumbra, Inc. (U.S.), Abbott Laboratories (U.S.), Merit Medical Systems, Inc. (U.S.), W. L. Gore & Associates, Inc. (U.S.), and MicroPort Scientific Corporation (China).
Apart from product launches & enhancements, many prominent players also adopted agreements & collaborations as the key growth strategy to strengthen market presence, enhance R&D capabilities, and to expand distribution networks to generate additional demand by sensitizing end users through an increase in availability of neurovascular products