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The global neurovascular devices market has been forecast to increase at a compound annual growth rate (CAGR) of 11.25% over the period 2011-2015.
Growth within the industry is set to be driven by the huge patient population with various neurological disorders, and the trend of an increase in mergers and acquisitions.
Neurovascular disease encompasses any abnormality of the blood vessels within or supplying the brain and spine. This includes narrowing of arteries, which reduces blood flow to the brain and increases the risk of stroke, and weakening of arteries, which may create brain aneurysms and increases the risk of intracranial bleeding.
Neurovascular disease is the number one cause of adult disability. More than four million Americans have survived a stroke, but few will recover completely. Statistics show that four out of five families, at some time, will be affected by stroke. But new technology is helping physicians minimise the impact of neurovascular disease.
Worldwide, the incidence of vascular diseases of the brain has been on the rise. In the last decade, people have become more prone to cerebrovascular diseases because of several risk factors such as unhealthy dietary habits, lack of exercise as a result of hectic lifestyles, the increase in smoking, the high prevalence of hypertension, high blood pressure, high blood cholesterol or triglyceride levels, and other health issues such as obesity and stress.
The huge patient population with various neurological disorders presents immense growth opportunities for the market.
For medical device companies, neurovascular diseases represents an important, largely unpenetrated market, and for too long it has remained tantalising in the classic sense of the term; it was promising, yet just out of reach.
Many companies have tried, without success, to introduce interventional devices into the stroke market. The recent setback for Wingspan, an intracranial stent (developed by Boston Scientific Corp., and now owned by StrykerCorp.) underscores the difficulties in this industry.
Key players currently dominating the neurovascular devices market include Covidien plc, Codman and Shurtleff Inc., Stryker Corp., and Terumo Medical Corp.
For more information on the neurovascular devices market, see the latest research: Neurovascular Devices Market
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