Market Highlights
Increasing prevalence of neurological/brain disorder like arteriovenous malformation, epilepsy, rising need for better treatment for rare disease, increasing investment of biotechnology and pharmaceutical industries in R&D, and availability of funds drive the growth of the market. Moreover, increasing government support for research & development, changing lifestyle, and rapid development in technology will fuel the market growth during the forecast period. On the other hand, higher cost of the treatment procedure may slow the market growth during the review period.
Over the last decade, the number of hospitals has increased to a great extent, which has influenced the growth of the market positively. Moreover, increasing demand for better treatment and changing reimbursement policies have fueled the market growth.
The global arteriovenous malformation market is expected to grow at a CAGR of ~6.1% during the forecast period 2017-2023.
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Regional Analysis
The Americas dominate the global arteriovenous malformation market owing to the presence of huge patient population, high health care spending, and increasing government support for research & development.
Europe holds the second largest share of the global market. The increasing focus of various government agencies on treating various brain disorders or brain injuries such as epilepsy and depression will have a positive impact on the growth of the market. The growing public awareness will boost the adoption of these devices in the European market.
Asia Pacific is the fastest growing arteriovenous malformation market across the globe. Japan holds a major share of the regional market due to availability of technology and huge healthcare spending. Rapidly developing economy, increasing healthcare expenditure, and government initiatives for research & development will drive the market in China and India over the assessment period.
The Middle East and Africa hold the least share of the global market due to limited availability of medical facilities. The UAE, Saudi Arabia, and Kuwait are expected to drive the Middle East & African market whereas, the African region is expected to witness a moderate growth.
Segmentation
The global arteriovenous malformation market is segmented on the basis of types, diagnosis, treatment, and end user. On the basis of types, it is segmented into true arteriovenous malformation, occult or cryptic AVM or cavernous malformations, venous malformation, hemangioma, and dural fistula. On the basis of diagnosis, it is segmented into physical examination, blood test, brain scans, and others. Brain scan is further segmented into computerized tomography (CT) scan, Magnetic Resonance Imaging (MRI), magnetic resonance angiography (MRA), and electroencephalography (EEG). On the basis of treatment, the market is segmented into endovascular embolization, neurosurgery and others. On the basis of the end user, it is segmented into hospitals & clinics, research laboratories and others.
Key Players
Some of key the players in the market are Toshiba Medical Systems Corporation (Japan), Carestream Health (U.S.), Nihon Kohden Corporation (Japan), Electrical Geodesics Inc. (U.S.), Fujifilm Holdings (Japan), GE Healthcare (U.S.), Siemens Healthcare(U.S.), Philips Healthcare (U.S.), Shimadzu Corporation (Japan), Masimo Corporation (U.S.), Hologic (U.S.), Esaote (Italy), and others.
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