Medtronics’ Monopoly on Key Global Neurological Devices Markets is Challenged by Axonics, Boston Scientific and Abbott
VANCOUVER, BRITISH COLUMBIA, CANADA, March 30, 2023/EINPresswire.com/ — iData Research, a global consulting and market research firm, published a research report on the global market for neurological devices. The report covers essential insights and the impact of COVID-19 on the market in 2021, 2022, and the future. In recent times, various clinical trials have highlighted the effectiveness of novel neurovascular therapies in comparison to invasive surgery. The rising popularity of neurovascular procedures, including aspiration thrombectomy and neurovascular stenting, is driving up the market value of the widely used neurovascular guidewire.
iData’s latest Global Market Report Suite for Neurological Devices reveals that the market reached a value of $9 billion in 2022 and is projected to grow to around $13.5 billion by 2029. This comprehensive report covers industry dynamics, procedure numbers, unit sales, ASPs, market drivers and limiters, market share statistics, key industry competitors, and more, for all the segments of the market analyzed.
The focus of this report is on the equipment and accessories utilized by neurosurgeons, including medical devices and capital equipment. The global market for neurological devices is categorized into several areas, such as cerebrospinal fluid management, liquid embolics, neurovascular detachable coils, neurovascular guidewires, neurovascular catheters, neurovascular stents, aneurysm clips, neurovascular thrombus management, neuromodulation devices, intrathecal pumps, and stereotactic devices.
Medtronic, Boston Scientific, and Stryker are the top three market share leaders in the global neurological device market. Medtronic has maintained its leading position in the neurological device market, but competitors have broken its monopoly on several markets and taken notable shares. Axonics’ entrance into the sacral nerve stimulator market has impacted Medtronic’s share, while innovations by Boston Scientific and Abbott have allowed these companies to gain sizable shares of the deep brain stimulation (DBS) market. Medtronic remained a leader in the majority of markets presented in this report, including but not limited to liquid embolics, neurovascular stents, neurovascular thrombectomy management and intrathecal pump.
Key Questions Answered in this Report:
How has the global neurological device market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global neurological device market?
What are the key regional markets?
What are the key driving factors and challenges in the industry?
What is the structure of the global neurological device market and what are the market shares of key players?
What is the degree of competition in the industry?
To accurately estimate market shares, units sold, average selling prices, product segments, and brands as well as procedural volumes, iData Research uses its proprietary market and procedure databases, as well as hospital purchase order data to complement its primary and secondary research initiatives.
Follow the link below to view our full global neurological device market report:
https://idataresearch.com/product/neurological-device-market/
For Further Information
More insights like this can be found in the latest reports by iData. Please email us at info@idataresearch.net or register online for a brochure and synopsis.
About iData
iData Research is an international consulting and market research firm dedicated to empowering confident strategic decisions within the medical device, dental, and pharmaceutical industries.
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iData Research
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