LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global neuroendovascular non-coils market to grow at a CAGR of almost 13% during the forecast period, according to their latest report.
The research study covers the present scenario and growth prospects of the global neuroendovascular non-coils market for 2016-2020. To calculate the market size, the report considers the revenue generated from the sales neuroendovascular non-coils to key end-users such as hospitals, and neurological centers.
The rising demand for minimally invasive procedures is expected to fuel the adoption rates for neuroendovascular non-coils, owing to lesser complications. Therefore, neurosurgeons are shifting from their traditional approaches (surgical clipping) to advanced minimally invasive surgeries. Vendors are also focusing on developing minimally invasive devices. For instance, in February 2015, Medtronic received the US FDA approval for its flow diversion Pipeline Embolization Device, which is used for treating brain aneurysm. It is the first flow diversion device to receive approval from the US FDA.
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Technavio healthcare and life sciences analysts highlight the following four factors that are contributing to the growth of the global neuroendovascular non-coils market:
- High incidence rates of brain aneurysm and cerebral disorders
- Growing demand for minimally invasive procedures with improved medical imaging
- Rise in demand for intracranial stenting procedures
- Rise in recognition and awareness
High incidence rates of brain aneurysm and cerebral disorders
Brain aneurysm is a common neurological disorder which occurs in 2-6% individuals globally. Cerebral aneurysms are more common in women, and the prevalence of aneurysm increases if a first-degree of relative (i.e., parent, sibling, or child) has an aneurysm. In 2014, in the US about 6 million people were affected by an unruptured cerebral aneurysm. According to the Brain Aneurysm Foundation, there are almost 5 million brain aneurysm-related deaths every year, and half of the deaths occur in individuals younger than 50 years of age. According to the research findings, 9.4 million deaths occur each year, out of which 16.5% can be attributed to high blood pressure. This includes 51% of deaths due to stroke and the rest due to cardiac disorders.
Barath Palada, a lead cardiovascular and metabolic disorder analyst at Technavio, says, “Some of the major causes for cerebral aneurysms include, blood pressure, blood glucose, and lipids. These disorders occur due to unhealthy diet, less physical activity, excessive alcohol consumption, smoking, stress, and obesity and are very common in the age group of 40 years above.”
Growing demand for minimally invasive procedures with improved medical imaging
The rise in demand for minimally invasive surgical procedures has fueled the growth of neuroendovascular non-coils market. The increasing demand is due to fewer complications associated with the procedure. Therefore, medical facilities worldwide are shifting toward minimally invasive procedures that involve the use of imaging technologies and radiotherapy and expanding the treatment options for cerebral aneurysm such as bulge of blood vessels in the brain. To treat the disease, physicians use embolization or insert stents in the affected area through small incisions by minimally invasive surgeries.
“The neuroendovascular non-coil surgeries are performed using a minimally invasive technique and are even possible in individuals with a higher risk of the aneurysm rupturing. These surgeries can be performed in ambulatory surgical centers. Thus, the minimally invasive nature of these procedures decreases the hospitalization costs, which is expected to adopt these procedures and contribute to the market growth,” adds Barath.
Rise in demand for intracranial stenting procedures
As the number of cerebral aneurysm conditions increases worldwide, the demand for intracranial stenting procedures also witnesses an increase. For instance, in the US, it is estimated that intracranial cerebral atherosclerosis causes 40,000–60,000 new strokes per year. This has driven the demand for coils and non-coils, which are increasingly adopted by hospitals and neurological centers. The increased demand for non-coils such as stents is due to better navigability and easy deployment in tortuous vessels for optimal cerebral circulation.
Rise in recognition and awareness
The technological advances in treating ruptured and unruptured aneurysm have driven the market growth over the past decade. The advent of flow diversion devices, liquid embolic, stents, and clot retrieval devices are replacing conventional treatment options such as pharmacological therapy and surgical clipping. Drug therapy involves the prescription of aspirin, warfarin, and other blood thinning agents, to restore the normal flow of blood in patients with narrow arteries, whereas in surgical clipping the bulged blood vessel is closed using clips. The vendors are focusing on getting adequate clinical data and findings toward the adoption of flow diverters. This will bring recognition of the manufacturers and researchers in developing new technologies to treat an intracranial aneurysm.
Top vendors:
- DePuy Synthes
- Medtronic
- MicroVention
- Stryker
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