Neurovascular Devices Market Trends, Size, Segment and Growth by Forecast to 2031

The neurovascular devices market size in 2021 stood at US$ 3.22 billion and is projected to reach US$ 5.79 billion by 2031 from US$ XX billion in 2023. The market is expected to register a CAGR of 6.2% in 2023-2031. Growing ongoing clinical trials and rising prevalence in the cases of stroke in developed as well as developing economies are likely to remain key neurovascular devices market trends.

Neurovascular Devices Market Analysis

Advanced imaging techniques and minimally invasive procedures have enabled healthcare professionals to perform more precise and less invasive procedures, ultimately reducing the risks associated with traditional surgical approaches. The increasing prevalence of neurological diseases is one of the critical factors driving the neurovascular devices market growth. Factors such as an aging people and modifying lifestyle changes have led to an increased incidence of diseases such as stroke and cerebral aneurysms, further highlighting the need for neurovascular interventions. Furthermore, there has been a substantial shift toward minimally invasive techniques and devices, thereby reducing the invasiveness of the neurovascular procedures. This shift has resulted in shorter hospital stays, faster recovery times, and lower patient healthcare costs, making these procedures more accessible and attractive to patients and healthcare providers. These technological and medical advances have collectively contributed to the impressive growth of the neurovascular device market and improved patient care and outcomes.

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Key Players Analysis:

• Medtronic plc
• Stryker Corporation
• Johnson Johnson Services Inc
• Acandis GmbH Co KG
• MicroPort Scientific Corporation
• Terumo Corporation
• Penumbra Inc
• phenox GmbH
• Integer Holdings Corporation
• Memry Corporation

Neurovascular Devices Market Overview

Neurovascular devices treat diseases of the blood arteries that supply oxygen-rich blood to the brain. For a complex aneurysm, neurovascular thrombectomy devices are used to remove the clot that caused the stroke. Many endovascular devices, such as snares, vacuum cleaners, and blood clot extraction devices, fall into this category. The market is expanding for many reasons, such as the rapid pace of technical innovation in this sector. Neurovascular devices include stenting systems, embolization devices, and neurothrombectomy devices used to treat neurovascular diseases such as brain aneurysms. The increasing prevalence of these diseases in the population and increasing government initiatives to raise awareness of treatment options are expected to drive product demand to treat these diseases.

Increasing Growth Strategies- An Opportunity for Neurovascular Devices Market Growth

Increasing organic growth strategies, such as product approvals from regulatory authorities to expand product portfolios of key players, are projected to drive market growth. For example, Scientia Vascular, a US-based medical device company, announced in May 2021 that it had received $50 million in funding from Vivo Capital, a healthcare investment firm, to develop guidewires and microcatheters to treat stroke. Innovative technologies will continue to expand the range of neurovascular tools available to treat various types of aneurysms more safely and efficiently. Aneurysm management constantly evolves, with sophisticated technology at the forefront of innovation.

SEGMENTATION

The study conducts a SWOT analysis of each company to evaluate strengths and weaknesses. It also evaluates the trends observed in the parent market, along with the macro-economic indicators, prevailing factors, and market appeal according to different segments. The report also predicts the influence of different industry aspects on the Neurovascular Devices market segments and regions.

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The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the Neurovascular Devices Market based on various segments. It also provides market size and forecast with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The Neurovascular Devices Market by each region is later sub-segmented by respective countries and segments.

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