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Global Neurovascular Thrombectomy Devices Market Size (2024 - 2029)

The neurovascular thrombectomy devices market is anticipated to experience substantial growth, driven by factors such as the increasing prevalence of acute ischemic stroke and technological advancements. The market's expansion is further supported by strategic initiatives like product launches, mergers, and partnerships, which enhance innovation and broaden geographical reach. Despite challenges posed by stringent medical device regulations and the high risks associated with procedures, the market is expected to grow significantly during the forecast period.

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Market Size of Global Neurovascular Thrombectomy Devices Industry

Neurovascular Thrombectomy Devices Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 6.30 %
Fastest Growing Market Asia-Pacific
Largest Market North America

Major Players

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*Disclaimer: Major Players sorted in no particular order

Neurovascular Thrombectomy Devices Market Analysis

The Neurovascular Thrombectomy Devices Market is expected to grow at a significant CAGR of 6.3% during the study period (2022-2027).

The COVID-19 pandemic affected healthcare systems globally and resulted in the interruption of usual care in many healthcare facilities, exposing vulnerable patients with cancer to significant risks. For instance, according to the article "Pandemic Meets Epidemic: COVID-19 and Neurodegenerative Diseases," published in December 2020, there has been a growing number of COVID-19 patients represented severe neurological manifestations most probably related to COVID-19, such as stroke, polyneuritis, and encephalopathy, which is explained by the invasion of the virus into nervous tissues causing damage to neural cells, thus, COVID-19 impacting the market.

There were several strategies adopted to perform elective neurosurgeries during the times of COVID-19. For instance, as per the study "Neurosurgery and Coronavirus: Impact and Challenges-Lessons Learned From the First Wave of a Global Pandemic" published in November 2021, strategies adopted to enable neurosurgical care included proactively approaching the referrers to maintain lines of communications, incorporating modern technology to run clinics and multidisciplinary teams, restructuring patient pathways/facilities, and initiating the delivery of National Health Services (NHS) care within private sector hospitals. Due to many challenges in performing neurosurgeries, the neurovascular thrombectomy devices market growth was impacted. However, lift of lockdown and restrictions is expected to fuel the target market growth during the forecast period.

The factors propelling the studied market growth are the increasing prevalence of acute ischemic stroke and technological advancements in the studied market. In addition, new product launches, rising investments, and strategic initiatives the key market players take will further drive the market growth.

As per the data published by Global Stroke Fact Sheet 2022, there are over 7.6 million new ischemic strokes each year. The same source reports that more than 62% of all incident strokes are ischemic strokes globally. In 2021, 7,630,803 cases of ischemic stroke were prevalent globally. Thus, the high burden of ischemic stroke increases the demand for neurovascular thrombectomy, thereby driving the studied market.

Additionally, strategic initiatives such as product launches, mergers, acquisitions, partnerships, and others will lead to lucrative market growth. For instance, in October 2021, Yashoda Hospitals, Secunderabad launched a state-of-the-art technology called 'Bi-Plane Neuro Angio Procedure Suite' with DTAS (Direct to Angio Suite) technology on the occasion of World Stroke Day. This suite enables the diagnosis and treatment (thrombolysis and thrombectomy) process for brain stroke patients in one room and on one machine. Such technological advancements and the launch of new products will increase its efficacy and adoption, thus driving the studied market.

Additionally, in June 2021, Penumbra, Inc. received the United States Food and Drug Administration (FDA) 510(k) clearance for RED 62 Reperfusion Catheter, which is designed to navigate complex distal vessel anatomy and deliver powerful aspiration, together with Penumbra ENGINE, for the removal of blood clots in acute ischemic stroke patients with large vessel occlusions.

Moreover, rising investments in the market will bolster the innovation, expanding product offering and geographical footprint, which will significantly drive the market's growth. For instance, in February 2022, Perfuze received an investment of EUR 22.5 million in a Series A investment round which will be used to drive the next stage of a United States clinical study and regulatory clearance of its Millipede system. The millipede system is an innovation in technology that has the potential to positively impact the lives of stroke patients. Therefore, owing to the factors above, the studied market is expected to grow significantly during the study period.

However, stringent regulations for medical device approvals and high risks associated with neurovascular thrombectomy procedures are expected to hinder the market growth during the forecast period.

Neurovascular Thrombectomy Devices Industry Segmentation

Per the report's scope, neurovascular thrombectomy devices are used to retrieve or destroy the blood clots in the cerebral region. The Neurovascular Thrombectomy Devices Market is Segmented by Product Type (Stent Retrievers, Aspiration, Vascular Snares, and Other Product Types), End User (Hospitals, Ambulatory Surgery Centers, and Other End Users), and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.

By Product Type
Stent Retrievers
Aspiration
Vascular Snares
Other Product Types
By End User
Hospitals
Ambulatory Surgery Centers
Other End Users
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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Global Neurovascular Thrombectomy Devices Market Size Summary

The neurovascular thrombectomy devices market is poised for substantial growth, driven by the increasing prevalence of acute ischemic strokes and advancements in technology. The market's expansion is supported by strategic initiatives such as product launches, mergers, and partnerships, which are enhancing the efficacy and adoption of these devices. The COVID-19 pandemic initially posed challenges by disrupting neurosurgical procedures, but the subsequent lifting of restrictions is expected to bolster market growth. Technological innovations, such as the development of state-of-the-art procedures and devices, are further propelling the market forward. Despite the promising growth trajectory, the market faces hurdles from stringent medical device regulations and the inherent risks associated with thrombectomy procedures.

North America is anticipated to maintain a significant share of the neurovascular thrombectomy devices market, with the United States leading due to its high incidence of ischemic strokes. The region's market growth is fueled by increased research and development activities, numerous product launches, and strategic moves by key players. The fragmented nature of the market, characterized by the presence of both global and regional companies, contributes to its competitive landscape. Notable companies such as Medtronic, Stryker, and Penumbra Inc. are actively involved in expanding their product offerings and enhancing their market presence. The ongoing investments and innovations in the field are expected to drive the market's growth, particularly in North America, where the demand for neurovascular thrombectomy procedures is on the rise.

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Global Neurovascular Thrombectomy 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 Burden of Acute Ischemic Stroke

      2. 1.2.2 Technological Advancements

    3. 1.3 Market Restraints

      1. 1.3.1 Stringent Regulations for Product Approvals

      2. 1.3.2 Risk Associated with Neurovascular Thrombectomy Devices

    4. 1.4 Porter's Five Forces 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 - USD Million)

    1. 2.1 By Product Type

      1. 2.1.1 Stent Retrievers

      2. 2.1.2 Aspiration

      3. 2.1.3 Vascular Snares

      4. 2.1.4 Other Product Types

    2. 2.2 By End User

      1. 2.2.1 Hospitals

      2. 2.2.2 Ambulatory Surgery Centers

      3. 2.2.3 Other End Users

    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

Global Neurovascular Thrombectomy Devices Market Size FAQs

The Global Neurovascular Thrombectomy Devices Market is projected to register a CAGR of 6.30% during the forecast period (2024-2029)

Acandis GmbH, Stryker , Penumbra, Inc., Medtronic and VESALIO, LLC are the major companies operating in the Global Neurovascular Thrombectomy Devices Market.

Global Neurovascular Thrombectomy Devices Report Snapshots

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