Neurothrombectomy Devices Market Size Will Achieve USD 1,227 Million by 2030 growing at 6.3% CAGR

The global neurothrombectomy devices market size valuated for USD 730 million in 2021 and is estimated to attain a size of USD 1,227 million by 2030 growing with a CAGR of 6.3% for the forecast period 2022 to 2030, as reported by Acumen Research and Consulting

Neurothrombectomy devices allow patients to avoid or reduce the use of pharmacologic thrombolysis, in turn minimizing the risk for intracerebral hemorrhage (ICH). These can be used beyond the short timeframe to which rtPA is limited. These may provide more rapid recanalization than thrombolytics, and can also provide treatment options for thrombi more resistant to fibrinolytic breakdown. The increasing cases of strokes across the globe are supporting the demand and usage of neurothrombectomy devices in the healthcare sector. For instance, According to World Health Organization (WHO), around 15.2 million people died in 2016 due to stroke across the globe. The rising awareness about the benefits and usage of these devices is further contributing to its growth.

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Growing incidences of acute ischemic strokes and the growing adoption of unhealthy lifestyles are supporting the neurothrombectomy devices market share. According to data given by the American Stroke Association, more than 690,000 ischemic strokes are reported in the United States each year. Additionally, the growing preference for minimally invasive procedures is one of the neurothrombectomy devices market trends that will strengthen the industry growth during the forecast timeframe from 2022 to 2030.

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COVID-19 Impact on the Global Neurothrombectomy Devices Market Revenue

The COVID-19 outbreak is expected to have a negative influence on the growth of the worldwide neurothrombectomy devices market value, as hospital visits and utilization of healthcare services for stroke treatment have decreased dramatically as a result of the government's social distancing measures. Furthermore, travel restrictions and quarantine diminish patient visits to hospitals, resulting in a drop in the diagnosis of neurological diseases and the number of neurothrombectomy procedures conducted between 2020 and 2021.

Neurothrombectomy Devices Market Dynamics

Growing awareness for these devices in emerging economies is one of the leading factors that is boosting the neurothrombectomy devices market growth. In addition, the introduction of technologically advanced products such as suction devices, clot retrievers, and aspiration catheters for the ischemic strokes treatment is expected to generate significant growth opportunities for the market in the coming years. However, a strict and complex regulatory framework for the approval of these devices in restricting the neurothrombectomy devices market size. Furthermore, the risk associated with these devices is another aspect that is affecting the neurothrombectomy device market value.

Neurothrombectomy Devices Market Segmentation

The neurothrombectomy devices market is segmented on the basis of product, end-use, and geography. Based on product, the market is divided into clot retrievers, aspiration/suction devices, and vascular snares. According to our neurothrombectomy devices industry analysis, the clot retriever sub-segment is expected to lead the market with utmost shares in 2021 and is likely to do so in the coming years. Growing cases of blood clots along with rising incidences of ischemic strokes will support the clot retrievers segment.

The end-use is held across hospitals, emergency clinics, laboratories, ambulatory surgical centers, and research institutes. According to our neurothrombectomy devices market forecast, the hospital's end-use conquered a substantial market share owing to the increased preference of patients visiting hospitals for better medical treatment. The increasing number of hospitals, especially in developing economies across the globe is supporting the segmental market value. The preference of patients for carrying out treatment associated with brain diseases in the hospital due to the availability of trained professionals and favorable technological support in terms of machinery is additionally contributing to the neurothrombectomy devices market value.

Neurothrombectomy Devices Market Regional Outlook

North America, Europe, Latin America, Asia-Pacific, and the Middle East & Africa are the regional categorizations of the neurothrombectomy devices market industry.

In 2021, Europe is projected to hold the major share (%) of the global neuro thrombectomy devices market in the forecast period (2022 - 2030). The presence of major players in the region is primarily supporting the regional market growth, as the players are continuously making possible efforts for market share growth. The ongoing investment in R&D activities by the major players for the development of new and advanced devices that can overcome the drawbacks or provide more effective features is additionally projected to bolster the regional market value.

The Asia-Pacific is estimated to exhibit potential growth during the estimated period. The rapidly growing economies of the region including China and India are supporting the regional market value. The increasing investment in the healthcare infrastructure of the region is further contributing to its growth. The favorable government support and changing consumer lifestyles are proliferating the regional market value.

Neurothrombectomy Devices Market Players

Some of the leading neurothrombectomy devices market companies are Abbott, Acandis GmbH, Boston Scientific Corporation, Edwards Lifesciences Corporation, Medtronic, Penumbra Inc., Phenox GmbH, Stryker, Stryker Corporation, and Vesalio. Neurothrombectomy device companies have announced mergers and acquisitions, partnerships and collaborations, and new product development to uplift their position in the neuro thrombectomy devices industry. Major players are also moving into new regions with their advanced technologies for gaining a competitive advantage in the near future.

Some of the Key Observations Regarding the Neurothrombectomy Devices Industry Include

• Medtronic plc has introduced the fourth-generation Solitaire X revascularization device to the market in 2019. This device is designed to be utilized for the treatment of acute ischemic stroke (AIS).

• Stryker launched the Sonopet iQ Ultrasonic Aspirator System at the American Association of Neurological Surgeons annual meeting in San Diego. This technology is designed to increase speed and power with improved control and precision to enhance ease of use.

• Ceretrieve, one that develops a unique neuro thrombectomy system with integral embolic protection for complete clot retrieval, has raised $1.5 million to improve clinical outcomes of ischemic stroke patients with a next-generation aspiration catheter. Amir Belson M.D. has also joined the company as chairman in January 2021.

• In 2019, Vesalio has announced that it has obtained second CE mark approval spanning multiple new NeVa neuro thrombectomy product designs and technology. The new generation NeVa device expands on the Drop Zone and Smart Marker technologies along with the introduction of first-to-market features such as a distal filter.

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