Global Neurovascular Thrombectomy Devices Market: Overview
The growth of the global neurovascular thrombectomy devices market is likely to be driven by the rising incidence of ischemic stroke, which is one of the leading types of stroke. According to the findings of US-based Centers for Disease Control and Prevention (CDC), nearly 87% of all strokes are ischemic strokes and it is a leading cause of long-term disability. It has also estimated that such incidences of stroke are expected to rise in the next few years to come, especially in the middle- and low-income countries. This factor is estimated to foster growth of the global neurovascular thrombectomy devices market over the analysis timeframe, from 2020 to 2030.
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In addition to that, studies suggest that ischemic stroke is rising amongst the youth owing to rapidly changing lifestyle of people. According to American Stroke Association, around 800,000 incidences of strokes are diagnosed in the US and almost 130,000 deaths are reported per year. High rate of mortality owing to ischemic stroke is likely to drive the growth of global neurovascular thrombectomy devices market over the analysis timeframe, from 2020 to 2030.
Disc type, location, material, and region are important factors in the market that has been considered for the classification of the global neurovascular thrombectomy devices market.
Global Neurovascular Thrombectomy Devices Market: Notable Developments
The major players in the global neurovascular thrombectomy devices market are emphasizing on strategic moves like mergers and acquisitions to expand their product portfolio. Introduction of new items for size of the blood clot, location of the thrombus, and different diameters of blood vessels is likely to help players gather dominance in the market
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Some of the major players in the global neurovascular thrombectomy devices market are
- Edwards Lifesciences Corporation
- Teleflex Incorporated
- Spectranetics Corporation
- Boston Scientific Corporation
- Argon Medical Devices, Inc.
- Penumbra, Inc.
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Global Neurovascular Thrombectomy Devices Market: Key Trends
The global neurovascular thrombectomy devices market is foreseen to observe the prevalence of the following market drivers, opportunities, restraints, and developments.
Growth of the Market to be driven by Efforts to Raise Awareness about Ischemic Strokes
The use of neurovascular thrombectomy devices has emerged as an inseparable part of the guidelines that are recommended by American Stroke Association/ American Heart Association for treating ischemic stroke. New clinical trials are published on a regular basis to validate the benefits provided by neurovascular thrombectomy devices. Presence of a large pool of clinical data exhibits the effectiveness of these devices, which is likely to trigger growth of the global neurovascular thrombectomy devices market over the timeline of analysis, from 2020 to 2030.
Various non-profit organizations and governments are making increasing efforts to create awareness pertaining to ischemic stokes and preventive measures that could be taken. Increasing awareness about the disease and augmented adoption of these devices are anticipated to drive the demand for neurovascular thrombectomy devices in the years to come.
Increasing research and development activities by major companies to come up with new innovative products is likely to support market growth. Expansion of the presence of several leading market players in the developing countries through set up of manufacturing facilities to work in favor of the global neurovascular thrombectomy devices market in the years to come
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Global Neurovascular Thrombectomy Devices Market: Geographical Analysis
In the global neurovascular thrombectomy devices market, North America is expected to account for a large chunk of the market over the forecast timeline, from 2020 to 2030. The growth of the regional market is ascribed to the growing adoption of high-end, latest thrombectomy products amongst the surgeons. In addition, favorable medical reimbursements offered in the US and rise in the number of clinical trials are estimated to work in favor of the neurovascular thrombectomy devices market in North America.
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