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The Interventional Neurology Devices Market Growth Factors
The market for interventional neurology devices is being driven by a rise in the number of patients with neurological illnesses. There is an increase in neurological disorders including Alzheimer’s disease as well as cerebrovascular diseases like stroke, migraine, and other headache disorders. The main causes of brain illnesses are the sharp rise in the elderly population, high levels of stress in young people, and accident-related head injuries. The US FDA’s strict regulatory guidelines for the authorization of interventional neurological devices will impede the market’s expansion. According to the devices’ class, the FDA approves them. The majority of the equipment listed under Interventional Neurological Devices is categorized as class 3 equipment.
The Interventional Neurology Devices Market Segmentation
The Global Interventional Neurology Devices Market on the basis of Product Type, the market is segregated into Cerebral Balloon Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices, Aneurysm Coiling and Embolization Devices. Based on Technology Type, the market is categorized into Carotid artery angioplasty and stenting, Vertebroplasty, Stroke therapy, and pre-operative tumor embolization. Based on Indication, the market is classified into Cerebral aneurysm, Ischemic strokes, Arteriovenous malformations and Fistulas, and Others. Based on End User, the market is divided into Hospitals, Neurology Clinics, and Ambulatory surgical centers.
The Interventional Neurology Devices Market Trends
The market is anticipated to be driven by the rising frequency of neurological illnesses, technological developments, and rising demand for less invasive procedures.
The growing number of patients with neurological problems, whicincludees many kinds of central nervous system disorders & treatments numerous types of peripheral, has led to an increase in the market for neurovascular devices and interventional neurology devices.
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The Interventional Neurology Devices Market Regional Analysis
With the highest revenue share among the regional markets, North America became the biggest market for interventional neurology devices in 2020. The rising target patient population for neurovascular illnesses and ongoing government attempts to improve and extend the health systems are primarily responsible for the North American market’s revenue growth. Added to this, it is anticipated that growth would be supported by neurosurgeons’ growing understanding of the advantages of interventional neurology equipment.
The major players operating in the Interventional Neurology Devices Market are Medtronic plc) (Ireland), Stryker Corporation (U.S.), Depuy Synthes (Johnson and Johnson Services Inc.) (U.S.), Abbott Laboratories (U.S.), Terumo Corporation (Japan), Bayer AG (Germany), Boston Scientific Corporation (U.S.), Penumbra, Inc. (U.S.)
Neurology Devices Market by Product (Neurostimulation Devices, Neurosurgery Devices, Interventional Neurology Devices, Cerebrospinal Fluid Management Devices) By End User (Hospitals, Ambulatory surgery centers, Neurology clinics) and By Geography
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