Neurovascular Devices/Interventional Neurology Market | Size, Share and Scope Analysis to 2031

"Global Neurovascular Devices/Interventional Neurology Market By Products (aneurysm coiling & embolization devices (Embolic Coils, Flow Diversion Devices, Liquid Embolic Agents), Cerebral Balloon Angioplasty & Stenting Systems (Carotid Artery Stents, Embolic Protection, Balloon Catheters), Support Devices (Microcatheters And Guidewires), and Neurothrombectomy Devices (Clot Retrievals, Suction & Aspiration, Snares)), End-Users (Hospitals & Surgical Centers, Ambulatory Care Centers, And Research Laboratories & Academic Institutes) - Trends, Industry Competition Analysis, Revenue and Forecast To 2031."

According to the latest research by InsightAce Analytic, the global neurovascular devices/interventional neurology market is valued at US$ 2.84 billion in 2022, and it is expected to reach US$ 6.37 billion by 2031, with a CAGR of 9.61% during a forecast period of 2023-2031.

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Major market players operating in the Neurovascular Devices/Interventional Neurology market include Medtronic PLC (Ireland), Stryker Corporation (US), Terumo Corporation (Japan), Johnson & Johnson (US), Microport Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation (US), Penumbra, Inc. (US), Balt (France), Perflow Medical (Israel), Phenox GmbH (Germany), Evasc (Canada), Rapid Medical (Israel), Asahi Intecc Co. Ltd (Japan), Sensome (France), Acandis GmbH (Germany), Medikit Co. Ltd (Japan), Straub Medical AG (Switzerland), Imperative Care (US), Lepu Medical (China), MicroVention, Inc. (US), Mizuho Medical (Japan), Cerus Endovascular (US), Peter Lazic GmBH (Germany), Spartan Micro (US), Emboflu (Switzerland), AngioDynamics (US), Microbot Medical Inc. (US) among others.

Neurovascular diseases have remained the primary cause of death for 30 years. Lifestyle choices, numerous medical issues, and genetics influence the risk of developing neurovascular diseases. Neurovascular devices treat disorders of the blood vessels that transport oxygen-rich blood to the brain.

The major drivers of the global Neurovascular Devices/Interventional Neurology market are:
• The increasing number of stroke patients
• The growing technological advances in micro guidewires
• The rising demand for minimally invasive neurosurgical procedures
• The expanding number of neurovascular surgical operations
• Adequate medical reimbursements for neurovascular disease treatments
• The increasing government expenditure on healthcare facilities

Increasing incidences of stroke, epilepsy, cerebral aneurysm, arteriovenous malformation (AVM), and carotid artery stenosis are anticipated to drive demand for neurovascular devices. WHO estimates that approximately 15 million people worldwide endure a stroke annually.

Five million of these individuals perish, and another five million are permanently disabled, putting a strain on families and communities. In the coming years, however, a lack of patient awareness regarding neurovascular disorders and treatments and the high cost of neurovascular devices and surgical procedures are anticipated to restrain the market growth.

North America dominated the global market in terms of revenue in 2021. This is attributable to improved healthcare infrastructure, the increasing prevalence of chronic neurological diseases and neurological disorders, and the enhancement of healthcare infrastructure.

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Key developments in the market:
• In April 2022, Integer Holdings Corporation announced the acquisition of Connemara Biomedical Holdings Teoranta, comprising its operating companies Aran Biomedical and Proxy Biomedical. The partnership with Aran further strengthens Integer's capacity to offer full solutions for complicated delivery and treatment devices in high-growth cardiovascular areas such as structural heart, neurovascular, peripheral vascular, and endovascular, as well as general surgery.
• In March 2022, Cerus Endovascular Ltd. announced that it had gained 510(k) approval from the U.S. Food and Drug Administration (FDA) for its 027 micro-catheters, which are available in two lengths, increasing its product range, which currently includes the 021 micro-catheter platforms. The business anticipates submitting both sizes for CE Marking under the new EU Medical Devices Regulation. Cerus Endovascular also announced the expansion of the Contour Neurovascular System's available sizes. The newly developed additional sizes (3mm, 18mm, and 22mm) will enable the treatment of aneurysms up to 18mm in diameter.
• In December 2021, Microbot Medical Inc. (US) collaborated with Stryker, a leading global medical technology company. The Microbot Medical will collaborate with Stryker's Neurovascular division to integrate its neurovascular instruments with Microbot's LIBERTY Robotic System to develop the world's first dedicated robotic procedural kits for use in specific neurovascular procedures.
• In September 2021, Medtronic plc (Ireland), received CE Mark approval for its radial artery access portfolio, including the Rist 079 Radial Access Guide Catheter and Rist Radial Access Selective Catheter. The Rist 079 Radial Access Guide Catheter is the first catheter designed explicitly for the unique demands of accessing the neuro vasculature through the radial artery versus access through the transfemoral artery.
• In December 2020, Terumo Corporation (Japan) launched the WEB Embolization System, an intravascular aneurysm treatment device, in Japan. With this commercial launch, Terumo provides new treatment options for brain aneurysm cases that were difficult to treat in currently approved methods.

Market Segments
Global Neurovascular Devices/Interventional Neurology Market, by Products, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• Aneurysm Coiling & Embolization Devices
o Embolic Coils
 Bare Detachable Coils
 Coated Detachable Coils
o Flow Diversion Devices
o Liquid Embolic Agents
• Cerebral Balloon Angioplasty & Stenting Systems
o Carotid Artery Stents
o Embolic Protection Devices
o Balloon Catheters
• Support Devices
o Microcatheters
o Guidewires
• Neurothrombectomy devices
o Clot Retrievals
o Suction & Aspiration Devices
o Snares

Global Neurovascular Devices/Interventional Neurology Market, by End-Users, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• Hospitals & Surgical Centers
• Ambulatory Care Centers
• Research Laboratories & Academic Institutes

Global Neurovascular Devices/Interventional Neurology Market, by Region, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Neurovascular Devices/Interventional Neurology Market, by Country, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• U.S.
• Canada

Europe Neurovascular Devices/Interventional Neurology Market, by Country, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Neurovascular Devices/Interventional Neurology Market, by Country, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Neurovascular Devices/Interventional Neurology Market, by Country, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Neurovascular Devices/Interventional Neurology Market, by Country, 2023-2031 (Value US$ Mn) and Volume (No. of Units)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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