Interventional neurology can be defined as a specialty aimed at
treating major diseases of the brain, spine, and neck, through
minimally invasive image guided techniques. Major diseases treated by
interventional neurologists include cerebral aneurysm, head and neck
tumors, intracranial atherosclerosis, meningiomas, ischemic strokes,
spinal vascular malformations, and vertebral body tumors.
Intracranial aneurysm, such as subarachnoid hemorrhage, is one of the
common neurological disease affecting over 30,000 people in the U.S.
each year and over 2% of the global population. Central nervous
system arteriovenous malformations (AVMs) have been reported in over
0.15% of the U.S. population, of which over 90% are supratentorial
located. Among these, over 4% of the cerebral AVMs are due to
hemorrhagic conversions.
Significant rise in the prevalence of neurological diseases, severity
of the disease, rising demand for effective treatment methods, surge
in demand for minimally invasive procedures, and growing awareness
among people is expected to contribute to the growth of the market.
In addition, technological advancements in the field of
interventional neurology, rising patient pool of hemorrhagic and
ischemic stroke, and strong focus on research & development
leading to new product launches and product enhancements, are
anticipated to fuel the growth of the market. Moreover, decreasing
cost of products attributed to the strengthening of the distribution
networks and localized manufacturing is likely to boost market growth
during the forecast period. However, dearth of trained interventional
neurologists and stringent regulatory procedures, among others are
anticipated to hamper market growth. Furthermore, high cost of
procedures, lack of disposable income in the developing regions, and
the lack of well-established reimbursement policies are expected to
restrain the market during the forecast period.
The global interventional neurology market can be segmented based on
product type, indication, end-user, and region. In terms of product
type, the market can be segmented into coiling and embolization
devices, angioplasty and stenting systems, support devices, and
neurothrombectomy devices. The coiling and embolization devices
segment can be sub-segmented into embolic coils, liquid embolic
agents, and flow diverting devices. The angioplasty and stenting
systems segment can be bifurcated into carotid artery stents and
embolic protection systems. Support devices include microcatheters
and guidewires. Based on indication, the market can be categorized
into cerebral aneurysms, ischemic stroke, arteriovenous
malformations, and others. In terms of end-user, the market can be
segmented into hospitals, ambulatory surgical centers, clinics, and
others.
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Geographically, the global interventional neurology market can be
segmented into five regions: North America, Europe, Asia Pacific,
Latin America, and Middle East & Africa. North America dominated
the market in terms of revenue in 2016. It is anticipated to continue
to dominate the market during the forecast period. Strong growth in
the region can be attributed to the well-established health care
infrastructure, growing awareness among people, and strong focus on
research & development. Europe is anticipated to be the second
largest market in terms of revenue. Asia Pacific is anticipated to
expand at a significantly high CAGR during the forecast period, with
growth being driven by China and India. Growth in these countries is
driven by increasing patient population, government focus on
enhancing health care infrastructure, and rising awareness among
people.
Leading players in the global interventional neurology market include
Boston Scientific Corporation, Medtronic plc, Abbott Laboratories,
Stryker Corporation, Johnson & Johnson, Terumo Corporation,
Penumbra, Inc., Merit Medical Systems, Inc., MicroPort Scientific
Corporation, W. L. Gore & Associates, Inc., and Cook Medical. The
primary growth strategies adopted by the market players include
acquisitions, partnerships, collaborations, product launches, and
product enhancements, to strengthen their position in the market.
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