U.S. Neurovascular Market is Expected to Grow to Over $600 Million by 2020: Led by Covidien, Codman & Shurtleff, and Stryker
Vancouver, BC (PRWEB) October 01, 2014 -- According to a new report by iData Research (http://www.idataresearch.com), the leading global authority in medical device market research, the U.S. neurovascular market will grow to over $600 million by 2020. The neurovascular market includes over-the-wire, flow-guided microcatheters, guiding catheters, coil and liquid embolics, neurovascular stents and flow diversion stents. The market will be driven by the conversion from surgical procedures to endovascular techniques in the treatment of aneurysms and arteriovenous malformations.
According to the American Heart Association, approximately 3 to 5% of the American population is affected by cerebral aneurysms. Once an aneurysm bleeds, there is a 30 to 40% chance of death and a 20 to 35% chance of moderate to severe brain damage, even if the aneurysm is treated.
Devices used for embolization, a minimally invasive procedure to treat aneurysms, include coil and liquid embolic products as well as neurovascular catheters and guidewires. The increase in volume of embolization procedures will drive these markets over the next few years. “Previously the market benefitted from the adoption of premium-priced coated coils, however, clinical trials point to a similarity in performance between coated and uncoated devices from leading brands,” says Dr. Kamran Zamanian, CEO of iData. However, there is a potential opportunity for smaller competitors to reach the disruptive technologies and change the landscape.
Flow diversion stents are expected to cannibalize a portion of the coiling procedures performed in the U.S. Flow diversion stents have the potential to transform the treatment of aneurysms, replace stent-assisted coiling, and address previously untreatable patients with complex aneurysms. The total neurovascular stent market is expected to experience close to double digit growth by 2020. Companies involved in the established traditional neurovascular stent market have been rushing to invest in the development of these new products. Covidien’s Pipeline™ device is the first and only flow diversion device approved by the FDA.
Moreover, Covidien recently introduced the first detachable tip neurovascular microcatheter in the U.S. This device allows an increase in the volume of liquid embolic agents used per procedure and improved catheter retrievability. Their recent acquisition of Reverse Medical will expand their presence in the vascular access market. Other key and notable competitors in this market include Codman & Shurtleff, Inc., Terumo and Stryker.
For more information
The 2014 U.S. Neuromodulation, Neurovascular, Neurosurgical and Monitoring Device market report includes cerebrospinal fluid (CSF) shunts, CSF external drainage systems, intracranial pressure monitoring devices, detachable coils, liquid embolics, catheters, guidewires, traditional neurovascular stents and flow diversion stents, spinal cord stimulators, vagus nerve stimulators, sacral nerve stimulators, deep brain stimulators, gastric electric stimulators, neuroendoscopes, stereotactic frames, stereotactic frameless systems, ultrasonic aspirators, aneurysm clips, neurosurgical microscopes and intrathecal pumps.
The above markets include procedure numbers, units sold, average selling prices, growth rate, forecasts as well as, competitive analysis and market shares to 2020 for all markets segments and sub-segments.
Receive a free synopsis of the 2014 U.S. Neuromodulation, Neurovascular, Neurosurgical and Monitoring Device Report
About iData Research
iData Research (http://www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Diabetes Drugs, Diabetes Devices, Pharmaceuticals, Anesthesiology, Wound Management, Orthopedics, Cardiovascular, Ophthalmics, Endoscopy, Gynecology, Urology and more.
Caroline Lau, iData Research, http://www.idataresearch.com, +1 604-266-6933 Ext: 215, [email protected]
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