“Due to increasing incidences of neurological disorders globally, the Interventional Neurology market continues to grow alarmingly”, says RNCOS.
According to a new research report by RNCOS entitled, “Global Interventional Neurology Market Outlook to 2020”, Interventional Neuroradiology or Endovascular Neurosurgery offers treatment for paralysis by removing blood clot from circulation. The therapy named spinal cord epidural electrical stimulation allows implantation of an epidural stimulator in the patient’s spinal cord. Recently, researchers from the University of Louisville, UCLA and the Pavlov Institute of Physiology have achieved progress by finding the neurotherapy for paralysis patients. Moreover, researchers at the University of Miami Health System have developed a minimally invasive surgical procedure that helped patients to restore from stroke, speech and mobility. Additionally, Doctors from Zurich University Hospital, Switzerland, have used a minimally invasive Intravenous thrombolysis for overcoming paralysis symptoms. Owing to these developments and increasing requirements some of the medtech giants such as Stryker, Medtronic, Covidien, Boston-Scientific, Terumo Inc., and others have been hastily investing in the development of novel products. These include coronary stents, guiding catheters, balloon catheters and embolizing coils involving further developments in technology.
Furthermore, the US and Europe are contributing significantly comprising a combined share of 70% of global interventional neurology market. Also, significant government funding, expanding implementation of minimally invasive surgeries in different countries such as the UK, Germany, France, Italy and others have made EU region as second largest market. This is due to the huge patient population with various neurological disorders, high awareness among the population and increasing investment by hospitals to incorporate neurovascular systems.
Entry of new products as well as increasing investments in research and development are intensifying competition in the industry. Similarly, high-operating cost and uncertain regulatory framework are considerably affecting the growth in developing economies. Other countries with lower adoption rates of minimally invasive neurovascular devices include Middle East, Australia, New Zealand, and South Africa, Latin America among others. These countries are also struggling with relatively lower awareness and cost-issues. Although changing lifestyle, unhealthy dietary habits and lack of physical activities among the masses are aggravating risk of brain aneurysms, which are likely to drive demand for advanced neurology devices.
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