Neurothrombectomy Devices Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 6.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Neurothrombectomy Devices Market Analysis
The neurothrombectomy devices market is expected to register a CAGR of 6.5% over the forecast period, 2021-2026.
The outbreak of COVID-19 had an impact on the neurothrombectomy devices market, as hospital visits and the use of healthcare services significantly reduced due to the social distancing measures taken by governments worldwide. Moreover, the COVID-19 pandemic not only affected the global economy, but it also had a huge impact on the functioning of general hospital care for non-COVID-19 patients in hospitals across the world. The outbreak of COVID-19 impacted the neurothrombectomy devices market by directly affecting the production and demand, creating a disruption in the supply chain and increasing the financial burden on companies. Due to this ongoing pandemic, scientists and biologists were unable to work from their labs, thus stalling the progress in the clinical trials that had started pre-COVID-19. Therefore, the new therapies have been delayed.
Acute ischemic strokes are the most prevalent type of stroke, and they are caused due to the reduction of blood supply to the brain, leading to the death of the brain cells. This problem is very commonly seen in the geriatric population. Ischemic strokes are more common in women than men, particularly in the age group of 55 years or above. Therefore, the above-mentioned factors are likely to positively boost the growth of the market during the forecast period.
Neurothrombectomy Devices Market Trends
This section covers the major market trends shaping the Neurothrombectomy Devices Market according to our research experts:
The Clot Retrievers Segment is Expected to Hold a Major Share in the Market over the Forecast Period
The clot retrievers segment is the dominant segment among all the other segments. This segment contributes the maximum revenue to the global neurothrombectomy devices market due to the high efficacy and flexibility these products offer. Moreover, there is a rise in the number of day-to-day cases of ischemic stroke in patients due to age and sedentary lifestyles. The rising government initiatives are expected to boost the market for clot retrievers during the forecast period. The increasing developments of novel drugs for clot retrievers may also help in boosting the market during the forecast period.
Due to the growing business expansion in the endovascular devices segment, there is growth in the vascular snares market. Increasing cardiac-related issues are another factor driving the market growth.
The hospital segment has also dominated the neurothrombectomy devices market due to increasing hospital visits compared to emergency clinics. Moreover, there is an availability of the latest technological products/devices in hospitals.
North America Dominated the Overall Market, and it is Expected to Retain its Dominance
North America is contributing to the maximum share of the overall neurothrombectomy devices market, and it may continue to register the same growth during the forecast period due to the increasing number of stroke-related cases in the region, increasing awareness among people about stroke-related problems, increasing government spending on spreading awareness, and the technological advancements in the detection of the disease and the associated therapy. In North America, the United States is contributing the maximum revenue, as women aged 55 years and more are being diagnosed with this disease. Furthermore, more healthcare players in the country are spending huge amounts on R&D and technological advancements. In the United States, there is an increased geriatric population, leading to an increase in the number of stroke-related issues.
Europe is also contributing a significant percentage to the overall revenue generation due to the increased number of patients suffering from acute ischemic stroke and the launch of new products by the manufacturers in the region.
Neurothrombectomy Devices Industry Overview
The neurothrombectomy devices market is highly competitive in nature, with many key players dominating the market. The presence of major market players, such as Abbott Laboratories, Johnson & Johnson, Medtronic, Stryker, and Vesalio, is intensifying the competition. The market players are adopting strategies, such as R&D, mergers, acquisitions, and product innovations, to sustain the increasing market rivalry.
In April 2019, Medtronic launched its fourth-generation Solitaire X revascularization device for AIS treatment.
Neurothrombectomy Devices Market Leaders
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Medtronic
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Stryker
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Siemens Healthineers
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Acandis
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INARI Medical
*Disclaimer: Major Players sorted in no particular order
Neurothrombectomy Devices Market News
In March 2021, Penumbra Inc. announced the availability of a thrombus removal device (Indigo System Lightning 7) in the United States.
In September 2020, Vesalio expanded its business by increasing some additional distribution channels in Europe, South America, the Middle East, and Asia. This may increase its market coverage in 53 countries.
Neurothrombectomy Devices Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increase in Geriatric Population
4.2.2 Increasing Prevalence of Ischemic Strokes
4.3 Market Restraints
4.3.1 Risks Associated with Neurothrombectomy Procedure
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product
5.1.1 Clot Retrievers
5.1.2 Suction Devices
5.1.3 Vascular Snares
5.2 By End User
5.2.1 Hospitals
5.2.2 Ambulatory Surgical Centers
5.2.3 Other End Users
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 France
5.3.2.4 Spain
5.3.2.5 Italy
5.3.2.6 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Austalia
5.3.3.5 South Korea
5.3.3.6 Rest of Asia-Pacific
5.3.4 Middle-East and Africa
5.3.4.1 GCC
5.3.4.2 South Africa
5.3.4.3 Rest of Middle-East and Africa
5.3.5 South America
5.3.5.1 Brazil
5.3.5.2 Argentina
5.3.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Abbott Laboratories
6.1.2 Medtronic
6.1.3 Acandis GmbH
6.1.4 Stryker
6.1.5 Phenox GmbH
6.1.6 Penumbra Inc.
6.1.7 Vesalio
6.1.8 Johnson & Johnson
6.1.9 Argon Medical
6.1.10 Inari Medical
6.1.11 Terumo Corporation
6.1.12 Edward Lifesciences Corporation
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
Neurothrombectomy Devices Industry Segmentation
A neurothrombectomy device is used to destroy a blood clot in the brain (cerebral neuro vasculature) by mechanical, laser, or ultrasound technologies. It has become the most preferred treatment, as it has shown promising results in lowering the mortality rate in patients.
The neurothrombectomy devices market is segmented by product, end user, and geography. By product, it is segmented into clot retrievers, suction devices, and vascular snares. By end user, the market is segmented into hospitals, ambulatory surgical centers, and other end users. By geography, the market is segmented into North America, Europe, Asia-Pacific, Middle-East and Africa, and South America. The report offers the value in USD million for the above-mentioned segments.
| By Product | |
| Clot Retrievers | |
| Suction Devices | |
| Vascular Snares |
| By End User | |
| Hospitals | |
| Ambulatory Surgical Centers | |
| Other End Users |
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Neurothrombectomy Devices Market Research FAQs
What is the current Neurothrombectomy Devices Market size?
The Neurothrombectomy Devices Market is projected to register a CAGR of 6.5% during the forecast period (2024-2029)
Who are the key players in Neurothrombectomy Devices Market?
Medtronic, Stryker, Siemens Healthineers, Acandis and INARI Medical are the major companies operating in the Neurothrombectomy Devices Market.
Which is the fastest growing region in Neurothrombectomy Devices Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Neurothrombectomy Devices Market?
In 2024, the North America accounts for the largest market share in Neurothrombectomy Devices Market.
What years does this Neurothrombectomy Devices Market cover?
The report covers the Neurothrombectomy Devices Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Neurothrombectomy Devices Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Neurothrombectomy Devices Industry Report
Statistics for the 2024 Neurothrombectomy Devices market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Neurothrombectomy Devices analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
