Interventional Neuroradiology Market Revenue to Cross US$ 3254.55 million by 2027 Says, The Insight Partners – Digital Journal

The interventional neuroradiology market was valued at US$ 1,969.39 million in 2018 and it is projected to reach US$ 3,254.55 million in 2027; it is expected to grow at a CAGR of 5.9% from 2018 to 2027.

Interventional neuroradiology is a medical sub-specialty that utilizes minimally-invasive image based technologies and procedures for the diagnosis and treatment of various diseases of head, neck and spine. The interventional neuroradiology therapies are accomplished majorly with the help of microcatheters inserted in the groin area and, under X-ray guidance, threaded through the blood vessels leading into the brain.

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Some of the players operating in interventional neuroradiology market are, Balt Extrusion, Merit Medical Systems, Terumo Corporation, Medtronic, Penumbra, Inc., Stryker, DePuy Synthes, Boston Scientific Corporation, W. L. Gore & Associates, and MicroPort Scientific Corporation among others.

The market players have been establishing acquisitions and collaborations in the market, which enables them to hold a strong position in the market. For instance, in November, 2018, Stryker completed the acquisition of K2M Group Holdings, Inc. The acquisition aims to increase the product portfolio of Strykers spine and neurotechnology segment. The developments performed by the companies are helping the market to grow in the coming years.

The interventional neuroradiology market by product is segmented into neurovascular embolization & coiling assist devices and accessories. In 2018, the neurovascular embolization & coiling assist devices segment held a largest market share of 72.17% of the interventional neuroradiology market, by product. This segment is also expected to dominate the market in 2027 owing to increase in the number of interventional neurology procedures. The segment is also anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.

Progressive aging population, increasing demand for minimally invasive procedures and rise in the prevalence of the cerebral aneurysm play vital role in the growth of the interventional neuroradiology market. However, the restraints such as high cost of embolization coils and dearth of skilled professionals are likely to impact the growth of the market in the forecast period.

The COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and rising research and development activities worldwide.

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Rise in the Prevalence of the Cerebral Aneurysm to Drive Global Interventional Neuroradiology Market Growth

Neurological diseases are the disorders of the brain, spine and the nerves that connect them. There are more than 600 diseases of the nervous system, such as brain tumors, epilepsy, Parkinsons disease and stroke as well as less familiar ones such as front temporal dementia. During recent years, the prevalence of neurological disorders have increased significantly.

A cerebral aneurysm (also called an intracranial aneurysm or brain aneurysm) is a bulging, weakened area in the wall of an artery in the brain, resulting in an abnormal widening, ballooning, or bleb. Because there is a weakened spot in the aneurysm wall, there is a risk for rupture (bursting) of the aneurysm. The most common type of cerebral aneurysm is called a saccular, or berry, aneurysm, occurring in 90 percent of cerebral aneurysms. This type of aneurysm looks like a berry with a narrow stem. More than one aneurysm may be present. Two other types of cerebral aneurysms are fusiform and dissecting aneurysms. A fusiform aneurysm bulges out on all sides (circumferentially), forming a dilated artery. Fusiform aneurysms are often associated with atherosclerosis.

The prevalence of cerebral aneurysms has increased tremendously across the globe. Approximately, 30,000 people in the United States suffer from brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. The annual rate of rupture in the United States is found to be around 8 10 per 100,000 people. Hence, the rising prevalence of cerebral aneurysms is anticipated to fuel the growth of the market during the forecast period.

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Interventional Neuroradiology Market Revenue to Cross US$ 3254.55 million by 2027 Says, The Insight Partners - Digital Journal