The impact of COVID-19 pandemic can be felt across the Healthcare Industry The growing inability in the production and manufacturing processes, in the light of the self-quarantined workforce has caused a major disruption in the supply chain across the sector. Restrictions encouraged by this pandemic are obstructing the production of essentials such as life-saving drugs.
The nature of operation in Pharmaceuticals plants that cannot be easily stopped and started, makes the operational restrictions in these plants a serious concern for the industry leaders. Restricted and delayed shipments from China have created a price hike in the raw materials, affecting the core of the Healthcare Industry
The slacking demand from different impacted industries such as automotive is negatively influencing the growth of the Healthcare Industry. In light of the current crisis, the market leaders are focused to become self-reliant which is expected to benefit the economic growth of different economies in the longer term. Companies are triggering events to restructure and recover from the losses incurred during the COVID-19 pandemic.
A balloon catheter, or angioplasty balloon, is a small tube which has a neurovascular remodelling balloon mounted at the distal end. The neurovascular remodelling balloonis used to dilate the lesion so as to enlarge the site, to improve stent apposition or to achieve full stent expansion. Diagnostic temporary arterial occlusion known as balloon test occlusion (BTO) is the most common application of neurovascular remodelling balloons.
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Neurovascular Remodelling Balloons Market: Drivers and Restraints
The rising incidence of neurovascular diseases such as stroke, brain aneurysm, intracranial and cervical angioplasty, and the concurrent rise in risk factors such as trauma, diabetes mellitus, hypercholesterolemia, hypertension, and cigarette smoking, and others is driving the neurovascular remodelling balloons market.
According to data from the Brain Aneurysm Foundation, around 500,000 people lose their lives each year to brain aneurysm. Also, around six million people in the U.S., i.e., one in 50 people suffer from brain aneurysm every year. Thus a growing market for neurovascular remodelling balloons is driving greater investment in the field. Rise in geriatric population is expected to boost the overall demand for neurovascular remodelling balloons. As per an independent study, aneurysm is quite predominant in the age group of 35–60 years. The median age when aneurysmal haemorrhagic stroke occurs is 50 years, and mostly develops after the age of 40. According to the The American Heart Association estimates, approximately 800,000 patients in the United States suffer from stroke per year. The growing incidence of strokes is reflected by the fact that about three in four patients suffer from strokes for their first time. Stroke is the third leading cause of death in North America, Europe, and Asia with intracranial cerebral atherosclerosis accounting for approximately 10% of all cases. Intracranial cerebral atherosclerosis accounts for almost 50000 new strokes cases per year in the United States. Thus a large market for neurovascular remodelling balloons is readily apparent.
Advancements in technology such as development of miniaturized neurovascular remodelling balloons, advanced hydrophilic coating, development of compatible materials such as Polyurethane having small cross section and low invasive profile is driving a large adoption of the neurovascular remodelling balloons.
However the constraints such as high cost and risk of surgery such as risk of infection, post-operative bleeding, deep vein thrombosis, pulmonary embolism, nerve injury competition from alternative treatment such as stents, drug therapy and others is hampering the neurovascular remodelling balloon market.
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Neurovascular Remodelling Balloons Market: Segmentation
To gain a comprehensive and a better understanding of the future market equity, the neurovascular remodeling balloons report is segmented based on design, type, material, end user, and region.
Based on design, the global neurovascular remodeling balloons market is segmented into:
- Single Lumen
- Dual Lumen
Based on type, the global neurovascular remodeling balloons market is segmented into:
- Non Detachable
Based on material, the global neurovascular remodeling balloons market is segmented into:
Based on end user, the global neurovascular remodeling balloons market is segmented into:
- Ambulatory Surgical Centers
Neurovascular Remodelling Balloons Market: Overview
Based on regions, the global neurovascular remodeling balloons market is classified into North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, Middle East & Africa, and Asia Pacific market excluding Japan. North America led by U.S. is expected to account for the largest share of the global neurovascular remodeling balloons market owing to larger procedures, developed healthcare infrastructure, and attractive reimbursement.
The Europe neurovascular remodeling balloons markets is expected to be led by the Germany, France, Italy, Spain, Portugal and the UK. Germany has a large medical devices industry which is a prime driver of the European neurovascular remodeling balloons market. The Latin America and the Middle East and Africa neurovascular remodeling balloons market is however restrained owing to the low healthcare expenditure. The Middle East and Africa neurovascular remodeling balloons market is expected to be driven by the gulf economies of Saudi Arabia, Kuwait, and Qatar.
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Some of the major players in the global neurovascular remodeling balloons market are,
- Igiasi S.A
- Rapid Medical
- DePuy Synthes (Johnson & Johnson)
- MicroVention Inc.
- TERUMO CORPORATION
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