InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the ‘Global Neurovascular Devices/Interventional Neurology Market By Products (aneurysm coiling & embolization devices (Embolic Coils, Flow Diversion Devices, Liquid Embolic Agents), Cerebral Balloon Angioplasty & Stenting Systems (Carotid Artery Stents, Embolic Protection, Balloon Catheters), Support Devices (Microcatheters And Guidewires), and Neurothrombectomy Devices (Clot Retrievals, Suction & Aspiration, Snares)), End-Users (Hospitals & Surgical Centers, Ambulatory Care Centers, And Research Laboratories & Academic Institutes) – Trends, Industry Competition Analysis, Revenue and Forecast To 2030.’
According to the latest research by InsightAce Analytic, the global neurovascular devices/interventional neurology market is valued at US$ 2.66 billion, and it is expected to reach US$ 5.72 billion by 2030, with a CAGR of 9.13% during a forecast period of 2022-2030.
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Since the last three decade, neurovascular diseases have remained a leading cause of death. Lifestyle standards, various medical problems, and genes affect the risk of developing neurovascular diseases. Neurovascular devices are used to treat disorders associated with the blood vessels that carry oxygen-rich blood to the brain region.
The major drivers for the global Neurovascular Devices/Interventional Neurology market include the rising number of stroke patients, increasing technological advancements in microgudewires, upsurging demand for minimally invasive neurosurgical procedures, increasing neurovascular surgical operations, adequate medical reimbursements for neurovascular disease treatments, and rising government expenditure for healthcare facilities. The increasing prevalence of stroke, epilepsy, cerebral aneurysm, arteriovenous malformation (AVM), and carotid artery stenosis is expected to compel the demand for neurovascular devices. According to the WHO, around 15 million people worldwide suffer a stroke every year. Out of these, 5 million die & another 5 million are left permanently disabled, placing a burden on family and community. However, a lack of patient awareness regarding neurovascular disorders and treatments, as well as the high cost of neurovascular devices and surgical procedures, are expected to restrain market growth in the coming years.
North America led the global market with a major revenue share in 2021. This can be linked to enhanced healthcare infrastructure, rising prevalence of chronic neurological illnesses & neurological disorders and improving healthcare infrastructure.
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Major market players operating in the Neurovascular Devices/Interventional Neurology market include Johnson & Johnson (US), Medtronic PLC (Ireland), Stryker Corporation (US), Terumo Corporation (Japan), Penumbra, Inc. (US), Microport Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation (US), Balt (France), Perflow Medical (Israel), Phenox GmbH (Germany), Sensome (France), Evasc (Canada), Rapid Medical (Israel), Asahi Intecc Co. Ltd (Japan), Acandis GmbH (Germany), Medikit Co. Ltd (Japan), Imperative Care (US), Lepu Medical (China), Cerus Endovascular (US), MicroVention, Inc. (US), Mizuho Medical (Japan), Peter Lazic GmBH (Germany), Spartan Micro (US), Emboflu (Switzerland), Straub Medical AG (Switzerland), AngioDynamics (US), Microbot Medical Inc. (US) among others.
Key developments in the market:
- In April 2022, Integer Holdings Corporation announced the acquisition of Connemara Biomedical Holdings Teoranta, comprising its operating companies Aran Biomedical and Proxy Biomedical. The partnership with Aran further strengthens Integer’s capacity to offer full solutions for complicated delivery and treatment devices in high-growth cardiovascular areas such as structural heart, neurovascular, peripheral vascular, and endovascular, as well as general surgery.
- In March 2022, Cerus Endovascular Ltd. announced that it had gained 510(k) approval from the U.S. Food and Drug Administration (FDA) for its 027 micro-catheters, which are available in two lengths, increasing its product range, which currently includes the 021 micro-catheter platforms. The business anticipates submitting both sizes for CE Marking under the new EU Medical Devices Regulation. Cerus Endovascular also announced the expansion of the Contour Neurovascular System’s available sizes. The newly developed additional sizes (3mm, 18mm, and 22mm) will enable the treatment of aneurysms up to 18mm in diameter.
- In December 2021, Microbot Medical Inc. (US) collaborated with Stryker, a leading global medical technology company. The Microbot Medical will collaborate with Stryker’s Neurovascular division to integrate its neurovascular instruments with Microbot’s LIBERTY Robotic System to develop the world’s first dedicated robotic procedural kits for use in specific neurovascular procedures.
- In September 2021, Medtronic plc (Ireland), received CE Mark approval for its radial artery access portfolio, including the Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter. The Rist 079 Radial Access Guide Catheter is the first catheter designed explicitly for the unique demands of accessing the neuro vasculature through the radial artery versus access through the transfemoral artery.
- In December 2020, Terumo Corporation (Japan) launched the WEB Embolization System, an intravascular aneurysm treatment device, in Japan. With this commercial launch, Terumo provides new treatment options for brain aneurysm cases that were difficult to treat in currently approved methods.
Market Segments
Global Neurovascular Devices/Interventional Neurology Market, by Products, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Aneurysm Coiling & Embolization Devices
- Embolic Coils
- Bare Detachable Coils
- Coated Detachable Coils
- Flow Diversion Devices
- Liquid Embolic Agents
- Embolic Coils
- Cerebral Balloon Angioplasty & Stenting Systems
- Carotid Artery Stents
- Embolic Protection Devices
- Balloon Catheters
- Support Devices
- Microcatheters
- Guidewires
- Neurothrombectomy devices
- Clot Retrievals
- Suction & Aspiration Devices
- Snares
Global Neurovascular Devices/Interventional Neurology Market, by End-Users, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Hospitals & Surgical Centers
- Ambulatory Care Centers
- Research Laboratories & Academic Institutes
Global Neurovascular Devices/Interventional Neurology Market, by Region, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
North America Neurovascular Devices/Interventional Neurology Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- U.S.
- Canada
Europe Neurovascular Devices/Interventional Neurology Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
Asia Pacific Neurovascular Devices/Interventional Neurology Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- India
- China
- Japan
- South Korea
- Australia & New Zealand
Latin America Neurovascular Devices/Interventional Neurology Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa Neurovascular Devices/Interventional Neurology Market, by Country, 2022-2030 (Value US$ Mn) and Volume (No. of Units)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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