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Neurointerventional Devices Market Size (2024 - 2029)

The neurointerventional devices market is anticipated to experience significant growth, driven by an increasing patient population and advancements in product development and research within neurovascular therapies. The market's expansion is supported by the resurgence of healthcare services post-COVID-19, which had previously impacted the availability of critical care resources. Despite challenges such as stringent regulations and a shortage of skilled professionals, the demand for neurointerventional devices is expected to rise due to the high prevalence of central nervous system vascular diseases. The introduction and approval of new devices further contribute to the market's growth trajectory.

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Market Size of Neurointerventional Devices Industry

Neurointerventional Devices Market Summary
Study Period 2021 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 7.70 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Neurointerventional Devices Market Major Players

*Disclaimer: Major Players sorted in no particular order

Neurointerventional Devices Market Analysis

The neurointerventional devices market is expected to register a CAGR of 7.7% over the forecast period.

The outbreak of COVID-19 affected the neurointerventional devices market in several ways, as it limited the intensive care unit (ICU) beds and ventilation sites owing to the necessity of postponing elective and/or complex cases. Moreover, as per the analysis, there were considerable variations in the management of neuro interventions during and after the pandemic. For instance, as per the report published by Cardiovascular Revascularization Medicine in July 2022, to ascertain the overall effect on vascular intervention trials halted by the COVID-19 pandemic, more research is required in the field of vascular intervention. Hence, the market is expected to rapidly rebound to pre-pandemic levels nonetheless, as a result of the restart of all healthcare facilities, a drop in COVID-19 cases, and follow-up trials on vascular intervention after COVID-19.

The major factors contributing to the growth of the market are the increasing target patient population, ongoing product development and commercialization, and rising research activities in the field of neurovascular therapies.

Neurointerventional devices are used by medical professionals specializing in the domain of the central nervous system (CNS). It is usually done by neuroradiologists, neurosurgeons, and neurologists exploring the endovascular approach to treat the vascular diseases of the central nervous system. The burden of vascular diseases associated with the central nervous system in the target population primarily drives the usage of devices. According to WSO data updated in June 2022, about 12.2 million (12,224,551) people will experience a stroke by the end of the year. In addition, the intracranial aneurysm, also known as a cerebral or brain aneurysm, is a bulging, weakened area in the wall of an artery in the brain. According to data from the National Health Service (NHS), England, updated in April 2022, the prevalence of brain aneurysms could be as high as 1 in 20 people, and brain aneurysms can develop in anyone at any age, but are more common in people over the age of 40. Furthermore, according to updated data from the Brain Aneurysm Foundation in January 2022, an estimated 6.5 million Americans have an unruptured brain aneurysm. About 30,000 people in the United States suffer a brain aneurysm rupture each year. A brain aneurysm ruptures every 18 minutes. The consistently high volume of patients with CNS vascular diseases approaching healthcare facilities is expected to drive the demand for neurointerventional devices.

Similarly, the new device developments and approvals will help the market grow during the study period. For instance, in April 2021, Medtronic received approval from the US FDA for the Pipeline Flex Embolization Device with Shield Technology. The Pipeline Flex Embolization Device diverts blood flow away from a brain aneurysm.

Such factors are altogether contributing to the market's growth over the analysis period. However, the stringent regulations and dearth of skilled neurosurgeons are the primary limitations to the growth of the studied market.

Neurointerventional Devices Industry Segmentation

As per the scope of the report, neurointerventional devices are primarily linked to the treatment of diseases with vascular diseases in the central nervous system. The Neurointerventional Devices Market is Segmented by Product (Aneurysm Coiling & Embolization Devices, Cerebral Balloon Angioplasty & Stenting Systems, Neurothrombectomy Devices, and Other Devices), Application (Ischemic Stroke, Cerebral Aneurysms, Arteriovenous Malformation & Fistulas, and Other Diseases), and Geography (North America, Europe, Asia Pacific, Middle East & Africa, and South America). The market report also covers the estimated market sizes and trends of 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Product
Aneurysm Coiling & Embolization Devices
Cerebral Balloon Angioplasty and Stenting Systems
Neurothrombectomy Devices
Other Devices
By Application
Ischemic Stroke
Cerebral Aneurysms
Arteriovenous Malformation and Fistulas
Other Diseases
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Neurointerventional Devices Market Size Summary

The neurointerventional devices market is poised for significant growth, driven by an increasing patient population and advancements in product development and commercialization. These devices are crucial for treating vascular diseases of the central nervous system, with their usage primarily influenced by the prevalence of conditions such as strokes and brain aneurysms. The market experienced disruptions due to the COVID-19 pandemic, which led to the postponement of elective procedures and variations in neuro intervention management. However, the market is expected to recover swiftly as healthcare facilities resume normal operations and research into vascular interventions progresses. The introduction of new devices, such as Medtronic's Pipeline Flex Embolization Device with Shield Technology, further supports market expansion, despite challenges like stringent regulations and a shortage of skilled neurosurgeons.

In North America, particularly the United States, the neurointerventional devices market is bolstered by an advanced healthcare infrastructure and a high incidence of ischemic strokes, which necessitate effective management solutions. The region's dominance is further enhanced by the presence of numerous medical device companies and ongoing device approvals and launches, such as CERENOVUS's EMBOGUARD balloon guide catheter. The market's competitive landscape includes major players like Abbott, Johnson & Johnson Services, Inc. (CERENOVUS), Medtronic, and Stryker, who are actively pursuing growth opportunities in endovascular-based disease treatments. Recent approvals, such as MicroPort Neurotech Limited's Numen Coil Embolization System in Japan and Rapid Medical's TIGERTRIEVER 13 in the United States, highlight the dynamic nature of the market and its potential for continued expansion over the forecast period.

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Neurointerventional Devices Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Target Patient Population

      2. 1.2.2 Ongoing Product Development and Commercialization

      3. 1.2.3 Rising Research Activities in the Field of Neurovascular Therapies

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulations

      2. 1.3.2 Dearth of Skilled Neurosurgeons

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - by USD million)

    1. 2.1 By Product

      1. 2.1.1 Aneurysm Coiling & Embolization Devices

      2. 2.1.2 Cerebral Balloon Angioplasty and Stenting Systems

      3. 2.1.3 Neurothrombectomy Devices

      4. 2.1.4 Other Devices

    2. 2.2 By Application

      1. 2.2.1 Ischemic Stroke

      2. 2.2.2 Cerebral Aneurysms

      3. 2.2.3 Arteriovenous Malformation and Fistulas

      4. 2.2.4 Other Diseases

    3. 2.3 Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Mexico

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Italy

        5. 2.3.2.5 Spain

        6. 2.3.2.6 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 China

        2. 2.3.3.2 Japan

        3. 2.3.3.3 India

        4. 2.3.3.4 Australia

        5. 2.3.3.5 South Korea

        6. 2.3.3.6 Rest of Asia-Pacific

      4. 2.3.4 Middle East and Africa

        1. 2.3.4.1 GCC

        2. 2.3.4.2 South Africa

        3. 2.3.4.3 Rest of Middle East and Africa

      5. 2.3.5 South America

        1. 2.3.5.1 Brazil

        2. 2.3.5.2 Argentina

        3. 2.3.5.3 Rest of South America

Neurointerventional Devices Market Size FAQs

The Neurointerventional Devices Market is projected to register a CAGR of 7.70% during the forecast period (2024-2029)

Stryker , Penumbra, Inc. , Medtronic, Abbott and Johnson & Johnson Services, Inc (CERENOVUS) are the major companies operating in the Neurointerventional Devices Market.

Neurointerventional Devices Report Snapshots

Neurointerventional Devices Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)