The Global Interventional Neuroradiology Market is expected to reach US$ 3,254.55 Mn in 2027 from US$ 1,969.39 Mn in 2018. The market is estimated to grow with a CAGR of 5.9% from 2019-2027.
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. On the other hand, ongoing clinical trials for the treatment of stroke is likely to have a positive impact on the growth of the global interventional neuroradiology market in the coming years.
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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, Parkinson’s disease and stroke as well as less familiar ones such as frontotemporal dementia. During recent years, the prevalence of neurological disorders has increased significantly. 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.
Global interventional neuroradiology market, based on 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.
Global interventional neuroradiology market, based on disease was segmented into cerebral aneurysms, intra-cranial tumors, acute strokes, and other diseases. In 2018, the acute strokes segment held a largest market share of 42.16% of the interventional neuroradiology market, by disease. This segment is also expected to dominate the market in 2027 due to the rising prevalence of acute strokes, due to large incidence of causative factors such as diabetes or habits such as smoking. In addition, the segment is anticipated to witness the growth at a significant rate during the forecast period, 2018 to 2027.
Some of the major primary and secondary sources for interventional neuroradiology includes:
- World Health Organization (WHO)
- National Center for Biotechnology Information (NCBI)
- Canada First Research Excellence Fund (CFREF)
- All India Institute of Medical Sciences (AIIMS)
- Food & Drug Administration (FDA)
- Neurology Association of South Africa (NASA)
- Brazilian Institute of Neuroscience
- Neurotechnology (BRAINN)
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