Interventional Neurology Devices Market: Future Demand and Growth Analysis

The Global Interventional Neurology Devices Market is accounted for $1.89 billion in 2016 and expected to grow at a CAGR of 10.3% to reach $3.76 billion by 2023. The market factors such as growth due to obesity and aged population, rising frequency for hemorrhagic and ischemic stroke, ongoing product development and commercialization, expansion of healthcare infrastructure across emerging markets are propelling the market growth. However, stringent regulations and lack of talented neurologists are restraining the market growth. Increasing research activities in the field of neurovascular therapies, demand for minimally invasive neurosurgical procedures and surgeon’s awareness related to benefits of stereotactic framework procedures in neurosurgeries are creating wider opportunities for the market growth.

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Cerebral arteriovenous malformations and dural arteriovenous fistulas (DAVFs) require complex treatment. The endovascular treatment with embolization is a fundamental component of the multidisciplinary management, together with radiosurgery and surgery. Microsurgery (ie, craniotomy followed by resection) has been reported to have a low risk of complications for in SMG I and II brain AVMs. Ischaemic strokes are caused by a blockage cutting off the blood supply to the brain. The blockage can be caused by a blood clot forming in an artery leading to the brain or within one of the small vessels deep inside the brain. Trials namely the ESCAPE, SWIFT PRIME, and EXTEND-IA studies also proved the effectiveness of mechanical thrombectomy in large vessel occlusion.

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At present, Food and Drug Administration (FDA) approved the Pipeline embolization device (PED; Medtronic) for use in anterior circulation aneurysms. Presently, PED and its second generation, the Pipeline Flex, are the only flow diverters available in the United States. Internationally, the Silk device (Balt Extrusion), p64 flow modulation device (phenox GmbH), Flow Re-direction Endoluminal Device (FRED; MicroVention Terumo), and Surpass device (Stryker) are available. New coils, both pushable and detachable, have also recently been developed. The use of detachable coils with different lengths and volumes is on the rise, and a new coil without a metallic frame has also arrived to the market. The use of liquid embolic materials is increasing in peripheral applications. New materials are in the pipeline. For example, Squid is a non adhesive liquid embolic agent for embolization of brain Arteriovenous Malformations (AVM). It is composed of EVOH (ethylene vinyl alcohol copolymer) with suspended micronized Tantalum powder for radiopacity and DMSO (dimethyl sulfoxide) solvent. Squid must be injected through a DMSO compatible microcatheter.

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Recently clot retrieval devices were approved by the FDA as first-line treatment along with IV rt-PA. The Penumbra Aspiration System, EmboTrap(®)II, stent retrievers, have the FDA clearance as first-line treatment for acute ischemic stroke along with IV rt-PA. Neurothrombectomy devices offer many potential advantages over pharmacologic thrombolysis, including more rapid achievement of recanalization, enhanced efficacy in treating large-vessel occlusions, and a potentially lower risk for hemorrhagic events. Currently, two neurothrombectomy devices are cleared by the U.S. Food and Drug Administration (FDA) through its 510(k) process: the MERCI Retriever (Concentric Medical) and the Penumbra System.

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North America is expected to dominate the market owing to adoption of neurovascular devices among neurosurgeons in neurovascular disease treatment, growing number of clinical trials and significant medical reimbursement available in the U.S. for neurosurgical procedures.

The key players in Global Interventional Neurology Devices market are Abbott, Medtronic, Stryker, TERUMO, Acandis, B. Braun Melsungen, Bayer, Boston Scientific, Biosensors International, Covidien PLC, Integra LifeSciences Holdings Corporation, St. Jude Medical, Inc, W.L. Gore & Associates, Inc. and Magstim Co Ltd.

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