The Europe neurovascular devices market is expected to reach US$ 773.41 million by 2027 from US$ 999.65 million in 2019. The market is estimated to grow at a CAGR of 3.4% during the forecast period. Increasing incidence of neurovascular diseases, rising demand for minimally invasive procedures, and significantly growing aging population across the globe are driving the Europe neurovascular devices market. However, the market is expected to grow at slower pace owing to the factors such as high cost of neurovascular devices and lack of expert professionals operating for neurovascular disorders. Neurovascular devices are used for the treatment of neurovascular diseases that possibly affect the network of blood vessels that surround the brain.This leads to incurable conditions, such as strokes and aneurysms.
Neurovascular devices are used to prevent stroke, aneurysm embolization, carotid stenosis, and other symptoms.Neurovascular devices are also used for performing surgical procedures to treat aneurysms and other cranial blood flow problems.
The prevalence of cerebral aneurysms has tremendously increased across the globe.According to data published by NHS, the annual rate of rupture in the UK is found close to 1 per 12,500 people.
A brain aneurysm ruptures every 18 minutes. Thus, it is estimated that rising prevalence of cerebral aneurysms is likely to fuel the growth of the market during the forecast period. Additionally, several recent advances, such as favorable reimbursement policies, minimally invasive therapeutic modalities, and ongoing product development and commercialization, would drive the market. The COVID-19 pandemic has adversely affected the market.For instance, the limited availability of medical care for conditions other than COVID-19 around the world has negatively impacted the neurovascular market.
Furthermore, the limited availability of healthcare staff across the globe will hamper the neurovascular devices market’s growth. Based on product, the Europe neurovascular devices market was segmented into neurothrombectomy devices, aneurysm coiling & embolization devices, cerebral balloon angioplasty & stenting systems and support devices. The aneurysm coiling & embolization segment held the largest share of the market in 2019, and is anticipated to register the highest CAGR during the forecast period. Based on application, the Europe neurovascular devices market was segmented into cerebral aneurysms, ischemic strokes, arteriovenous malformation & fistulas, and other applications.In 2019, the ischemic strokes segment held the largest share of the market.
The segment is expected to register the highest CAGR in the market during the forecast period. Based on end user, the Europe neurovascular devices market was segmented into hospitals, ambulatory surgical centers, and specialized clinics. In 2019, the hospitals segment held the largest share of the market and is registered to dominate the market at the highest CAGR during the forecast period. Some of the major primary and secondary sources for Europe neurovascular devices market included in the report are Societa Italiana Di Neuroscienze (SINS); Agenzia Sanitaria e Sociale Regionale (ASSR); World Stroke Organization (WSO); and World Health Organization (WHO); among others.
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