Market Overview
The global Neurovascular Devices market size was valued at USD 3,350 million in 2022 and is projected to reach USD 5,860 million by 2033, growing at a CAGR of 9.0% during the forecast period.
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Report Scope
| Report Attributes | Description |
| Market Forecast in 2022 | USD 3,350 million |
| Market Forecast in 2033 | USD 5,860 million |
| CAGR % 2023-2033 | 9.0% |
| Base Year | 2022 |
| Historic Data | 2020-2021 |
| Forecast Period | 2023-2033 |
| Report USP | Product, end-user industry, company share, company heat map, company Capacity Technology Product capacity, growth factors and more |
| Key Companies | Medtronic plc; Stryker Corporation; Johnson & Johnson (Codman Neuro); Penumbra, Inc.; Terumo Corporation; MicroVention, Inc. (Terumo Corporation); Merit Medical Systems, Inc.; MicroPort Scientific Corporation; Balt Extrusion; Rapid Medical |
Global Neurovascular Devices Market- Description
The global neurovascular devices market refers to the market for medical devices used in the diagnosis, treatment, and management of neurological and vascular conditions affecting the brain, spinal cord, and peripheral blood vessels. These devices are specifically designed to address conditions such as ischemic stroke, cerebral aneurysms, arteriovenous malformations, and other neurovascular disorders. The rising incidence of neurovascular disorders, including strokes and aneurysms, is a significant growth factor for the neurovascular devices market. Factors such as aging population, sedentary lifestyle, and increasing risk factors like hypertension and diabetes contribute to the growing burden of these conditions, driving the demand for advanced devices and treatment options. Continuous advancements in neurovascular devices, such as stent retrievers, embolic coils, flow diverters, and intracranial stents, have improved the treatment outcomes and patient care in neurovascular conditions. Innovations such as minimally invasive procedures, image-guided interventions, and the development of novel materials have expanded the treatment options, fueling market growth.
Global Neurovascular Devices market: Key Trends
• Shift towards Minimally Invasive Procedures:
There is a growing trend towards minimally invasive procedures in neurovascular interventions. These procedures offer benefits such as reduced trauma, shorter hospital stays, faster recovery, and improved patient outcomes. Devices such as intravascular catheters, microcatheters, and embolic coils are increasingly used for endovascular treatments, driving the demand for neurovascular devices designed for minimally invasive approaches.
• Increasing Adoption of Flow Diverters:
Flow diverters are specialized devices used to treat complex intracranial aneurysms. These devices redirect blood flow away from the aneurysm, promoting healing and reducing the risk of rupture. The demand for flow diverters is increasing due to their effectiveness in treating challenging aneurysms and providing a less invasive alternative to traditional surgical methods.
Global Neurovascular Devices market: Regional Analysis
The neurovascular devices market is distributed across regions, with North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa being the key regions. North America dominates the market due to the presence of advanced healthcare infrastructure, favorable reimbursement policies, and a high prevalence of neurovascular disorders. Europe and Asia Pacific also hold significant market shares, driven by improving healthcare infrastructure, increasing awareness, and rising investments in medical technologies.
Global Neurovascular Devices market: Recent Development
• In 2020, Stryker has formed a partnership with Allm to introduce a new program that enables customers to acquire the Join software. By utilizing Allm’s Join software, customers and their stroke teams can now simplify the process of accessing patient information and imaging. This allows them to efficiently request and monitor patient transfers, collaborate on treatment decisions, and ensure the team is prepared when a patient arrives, ultimately expediting the patient’s journey towards treatment. Stroke, which is the primary cause of disability and the second leading cause of death globally, occurs when the blood flow to the brain is disrupted, resulting in the death of brain cells. Without treatment, the brain of an ischemic stroke patient ages approximately 3.6 years per hour, underscoring the critical importance of timely intervention.
Global Neurovascular Devices market: Segmental Analysis
Product Type
• Cerebral Embolization and Aneurysm Coiling Devices
• Neurothrombectomy Devices
• Support Devices
• Others
Disease Type
• Ischemic Strokes
• Hemorrhagic Strokes
• Cerebral Aneurysms
• Arteriovenous Malformations (AVMs)
• Others
End-User
• Hospitals
• Ambulatory Surgical Centers
• Specialty Clinics
Global Neurovascular Devices Market: Key Companies
• Medtronic plc
• Stryker Corporation
• Johnson & Johnson (Codman Neuro)
• Penumbra, Inc.
• Terumo Corporation
• MicroVention, Inc. (Terumo Corporation)
• Merit Medical Systems, Inc.
• MicroPort Scientific Corporation
• Balt Extrusion
• Rapid Medical
• Others
Global Neurovascular Devices Market: Regional Scope
North America
• U.S.
• Canada
• Mexico
Europe
• U.K.
• Germany
• France
• Italy
• Spain
• Rest of Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia
• Rest of Asia Pacific
South America
• Brazil
• Argentina
• Rest of South America
Middle East and Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of Middle East and Africa
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Why to buy this Report?
The report provides quantitative and qualitative aspect for the market in terms of value and volume, along with supporting market trends, challenges, restraints.
The report provides an in depth analysis from both production and consumption point of view at the regional and country level. Key Factors considered within the report scope are Production capacity by countries/regions, average price, consumption ratio, revenue earned and gross margin.
The report provides competitive analysis of around 30-50 companies operated in the market, these companies are bifurcated into niche players, the leaders and major contenders. The companies are analyzed in terms of following factors such as:
• Business Model
• Production Capacity, Revenue, Sales, Gross Margin
• Key Business Strategy
• SWOT Analysis
In terms of competitive landscape, the report provides distinctive factors that would help the end user in taking a key decision within the business:
• Company Share Analysis from 2018-2022
• Company Analysis by Revenue and Sales
• Company Production Capacity, Gross Margin
• Company Share Analysis by Application/End Use
• Company Share Analysis by Product/Specification.
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