Neurovascular Coiling Assist Devices Market: Introduction
- Neurovascular coiling assist devices are employed during coiling procedures to hold the coils placed inside the aneurysm. Coiling assist devices include coil assist balloons or coil assist stents.
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- Neurovascular stent-assisted coiling helps in the treatment of saccular, intracranial, and wide-neck brain aneurysms. These devices are employed to augment embolization coil treatment of the abnormalities in blood vessels in the brain, including arteriovenous malformations (AVMs) and brain aneurysms.
Key Drivers and Restraints of Global Neurovascular Coiling Assist Devices Market
- Rise in prevalence of hemorrhages in the population and usage of coil embolization for the treatment of aneurysms fuels the neurovascular coiling assist devices market. Prevalence of intracranial secular aneurysms is about 2% of the population, and the prevalence of non-traumatic subarachnoid hemorrhages is around 85% of the general population.
- Technological advancements in endovascular operative techniques, which is a minimally invasive technique employed for the treatment of wide-necked intracranial aneurysm, further fuel the neurovascular coiling assist devices market
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- However, the recanalization rate of treating large or giant aneurysms employing the balloon-assisted or stent-assisted coiling is high, around 18%. This has led to the development of flow diverters. This is likely to hamper the neurovascular coiling assist devices market.
- Product approvals and launch of medical devices are governed by various regulations established by the U.S. FDA and other regulatory bodies operating in each country. The U.S. FDA continues to increase testing and documentation required for the clearance of devices. Similar regulations are noted in the European Union (EU), Japan, and China. The various levels of approval process can delay the product release in the market, which could have a negative impact on the neurovascular coiling assist devices market.
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North America to Lead Global Neurovascular Coiling Assist Devices Market
- In terms of region, the global neurovascular coiling assist devices market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- North America dominated the global neurovascular coiling assist devices market in 2019, owing to the strong presence of leading market players, increase in investments on research & development, and surge in prevalence of hemorrhages
- Europe followed North America in terms of share of the global neurovascular coiling assist devices market in 2019. The market in Asia Pacific is projected expand at a rapid pace, followed by the market in Latin America and Middle East & Africa. Rise in focus of governments of countries in Asia on enhancing healthcare facilities, increase in focus of market players in Asia Pacific to leverage growth opportunities, rise in prevalence of cardiovascular diseases, and increase in patient pool boost the global neurovascular coiling assist devices market.
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Key Players Operating in Global Neurovascular Coiling Assist Devices Market
Major market players are focused on expansion of their presence in the global neurovascular coiling assist devices market, primarily by adopting inorganic growth strategies. Leading players operating in the global neurovascular coiling assist devices market are:
- Medtronic
- Stryker Corporation
- Terumo Corporation
- Johnson & Johnson
- Acandis GmbH
- Boston Scientific Corporation
- Balt Extrusion
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