Neurovascular Intervention Market to Reflect Impressive Growth Rate by 2024

Neurovascular intervention is the use of minimally invasive medical devices and techniques to treat vascular diseases of central nervous system. Neurovascular interventional procedures help to avoid surgeries of high risk zones of body such as brain, spine, or the neck. It is a field with significant scope for research and development because it requires a highly expertise neurologist to perform the procedures with current conventional devices. There is a need to advance technology and devices to minimize the failures in interventional procedures. Neurovascular Intervention involves usage of minimally invasive approaches including the use of microcatheters to treat various diseases of the brain, head, neck, and spine. Neurovascular interventional devices are used in procedures such as removal of blood clot within a blood vessel in the brain during an acute ischemic stroke and to restore blood flow. Several improvements are noted with endovascular treatment of intracranial aneurisms by detachable coils. Recent evidence suggests that endovascular intervention is at least as effective as open surgery, with fewer complications.

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The global neurovascular intervention market has witnessed improvements in the area of neuroendovascular therapy which has led to the development of novel revascularization, embolization, mechanical thrombectomy, and access/support devices. The market is driven by advancements that are able to address the unmet needs of a large population suffering from cerebrovascular diseases across the world. According to the World Health Organization, incidence of cerebrovascular diseases such as migraine and stroke is high in Italy. This is mainly affecting the age group of 40–84 years. This is due to the rapidly changing lifestyle in the European countries. Exponential rise in the number of patients suffering from aneurysms and stroke are the factors fueling the growth of the market. The shift in trend from traditional interventions to minimally invasive procedures for the treatment of neurovascular disorders is boosting the companies for new advancements in neurovascular intervention market. However, lack of skilled neurosurgeons and high cost of neurovascular intervention treatment and R&D are likely to restrain the market. Suppliers in this space such as Stryker, Codman, and Medtronic are influenced by the strategies of large orthopedic companies, which has resulted in high prices of neurovascular devices.

The global neurovascular intervention market can be segmented based on device category, disease, and region. In term of device category, the market can be categorized into coil, carotid stent, clot removal device, liquid embolic, coil assist balloon, coil assist stent, flow diverter stent, and micro wire/catheter. The coil segment accounts for the largest share of the global neurovascular intervention market. Based on disease, the global neurovascular intervention market can be classified into aneurysm, intracranial atherosclerotic disease (icad), ischemic stroke, and arteriovenous malformation (AVM). The aneurysm segment is expected to account for the largest market share in 2016. According to one study, an estimated 6 million people in the U.S. have an unruptured brain aneurysm.

Geographically, the global neurovascular intervention market can be segmented into North America, Europe, Asia Pacific, Latin America, Africa, and the Middle East. North America is projected to dominate the global neurovascular intervention market during the forecast period due to factors such as rise in aging population and large patient pool suffering from various neurological disorders in this region. Emerging economies in India, China, and Japan in Asia Pacific are expected to grow at a higher rate due to rise in gross domestic product (GDP) and increase in purchasing capabilities of health care institutions.

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Key players operating in the global neurovascular intervention market are Stryker, Medtronic, Terumo Corporation, Penumbra, Inc., Johnson & Johnson, and Abbot Laboratories.

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