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Europe Neurothrombectomy Devices Market Forecasted to Hit USD 306.7 Million by 2031 - Persistence Market Research
Overview of the Europe Neurothrombectomy Devices MarketThe Europe neurothrombectomy devices market is on a steady rise, with an estimated value of US$205.1 million in 2024, expected to grow to US$306.7 million by 2031, reflecting a compound annual growth rate (CAGR) of 5.9% during the forecast period. The growing demand for effective treatments for acute ischemic strokes, coupled with advancements in medical technology, has significantly contributed to this market's expansion. As stroke cases continue to rise across Europe, the need for efficient and minimally invasive procedures to treat these conditions has become crucial. The market is being fueled by innovations in device technology, improved clinical outcomes, and increasing awareness surrounding stroke management.
Key growth drivers include the increasing prevalence of neurological disorders, the growing adoption of minimally invasive procedures, and improvements in device efficiency. Among the various product categories, stent retrievers hold a dominant position, capturing a substantial share of the market. Additionally, countries such as Germany, France, and the UK are expected to lead the charge in driving market growth due to their strong healthcare infrastructure and a rising focus on improving patient outcomes in neurological care.
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Key Highlights from the Report
• The market is projected to grow from US$205.1 million in 2024 to US$306.7 million by 2031.
• Stent retrievers are expected to remain the leading product category, capturing over 55% of the market share in 2024.
• Germany is expected to maintain its dominance, accounting for over 28% of the European market in 2024.
• Hospitals are anticipated to contribute the largest share of the market, accounting for 63.5% in 2024.
• Increasing awareness of stroke management and advancements in device technology are driving market growth.
• The growing preference for minimally invasive procedures and advancements in neurovascular care are shaping market trends.
Market Segmentation
The Europe neurothrombectomy devices market can be segmented based on product type, end-user, and geographical regions.
1. Product Type Segmentation: The major product category in this market is stent retrievers, which are projected to hold the largest share in 2024. Stent retrievers are favored due to their effectiveness in treating acute ischemic strokes by mechanically removing blood clots. Their design has evolved to optimize clot retrieval, leading to superior clinical outcomes. As a result, they have become the go-to solution in neurothrombectomy procedures. Additionally, other products such as aspiration catheters, thrombectomy catheters, and devices aimed at enhancing clot removal efficiency continue to contribute to market growth.
2. End-User Segmentation: The hospitals segment is the largest end-user, commanding a significant share of 63.5% in the market. This dominance can be attributed to hospitals' well-established infrastructure and multidisciplinary teams that provide specialized care for stroke patients. Furthermore, hospitals have the necessary facilities to perform advanced neurothrombectomy procedures, making them the primary choice for stroke interventions. However, ambulatory surgical centers and research facilities are also emerging as important contributors to market growth, as they adopt advanced devices to perform neurovascular procedures.
Regional Insights
1. Germany: Germany is projected to continue its dominance in the Europe neurothrombectomy devices market, accounting for approximately 28.7% of the market in 2024. The country's strong healthcare infrastructure, substantial investments in medical technology, and a high prevalence of neurological disorders have contributed to its leading market position. Furthermore, Germany's initiatives in enhancing stroke care and expanding the number of mechanical thrombectomy centers have further driven the adoption of neurothrombectomy devices.
2. UK and France: Other significant markets include the UK and France, where the adoption of neurothrombectomy devices is rapidly increasing. Both countries have made substantial strides in stroke prevention and treatment, emphasizing the importance of rapid intervention and neurovascular care. Their healthcare systems continue to evolve with advancements in technology, increasing the demand for devices that can improve patient outcomes following ischemic strokes.
Market Drivers
1. Increasing Incidence of Acute Ischemic Stroke: The rising number of ischemic stroke cases is one of the key factors driving market growth. The aging population and increasing prevalence of lifestyle-related diseases such as hypertension and diabetes contribute to the growing incidence of acute ischemic strokes. As stroke is one of the leading causes of death and disability in Europe, the demand for neurothrombectomy devices to improve patient outcomes has surged.
2. Technological Advancements in Neurothrombectomy
Devices: Continuous innovation in neurothrombectomy devices, such as the development of stent retrievers with enhanced clot-retrieval mechanisms, is another significant driver of market growth. Technological advancements in materials, real-time imaging systems, and catheter designs have improved procedural efficiency, making neurothrombectomy a more viable and effective option for stroke patients.
3. Growing Awareness and Focus on Minimally Invasive Procedures: As patients and healthcare providers prioritize minimally invasive treatment options, neurothrombectomy devices, which involve catheter-based procedures, are gaining prominence. These devices enable physicians to treat acute ischemic stroke patients without resorting to open surgery, resulting in quicker recovery times and fewer complications. The increasing preference for minimally invasive procedures is expected to fuel market growth.
Market Restraints
1. High Cost of Neurothrombectomy Devices: One of the major challenges faced by the neurothrombectomy market is the high cost of these advanced devices. The price of mechanical thrombectomy devices is significantly higher than traditional treatment options, which places a financial burden on healthcare systems, particularly in regions with limited resources. This can limit the adoption of such devices in smaller hospitals or rural healthcare centers, restricting their widespread use.
2. Limited Availability of Specialized Centers: Another restraint is the limited number of specialized stroke centers capable of performing neurothrombectomy procedures. Despite advancements in neurovascular care, many European regions still face a shortage of centers with the expertise and equipment necessary to offer these procedures. This limits access to advanced treatment for patients, which could hamper the overall market growth.
Market Opportunities
1. Integration of Telemedicine Solutions: Telemedicine presents a significant opportunity for the European neurothrombectomy market. With telemedicine, specialists can remotely assess stroke patients and make rapid decisions about treatment, ensuring timely neurothrombectomy interventions. This is especially beneficial for patients in rural or underserved areas with limited access to specialized care. The integration of telemedicine is expected to drive the adoption of neurothrombectomy devices and improve patient outcomes.
2. Government Initiatives and Regulatory Support: Several European countries are prioritizing stroke care through national health strategies and initiatives. Governments are investing in stroke centers and supporting the development of advanced medical technologies. Additionally, the evolving regulatory landscape, including faster approval processes for innovative devices, provides a favorable environment for manufacturers to introduce new solutions.
3. Emerging Markets in Eastern Europe: While Western Europe is currently the leading region for neurothrombectomy devices, Eastern European countries present untapped growth opportunities. As healthcare infrastructure improves and awareness about stroke management increases in these regions, the demand for neurothrombectomy devices is expected to rise.
Reasons to Buy the Report
✔ Gain comprehensive insights into the European neurothrombectomy devices market, including key drivers and trends.
✔ Understand the market segmentation and its impact on product and end-user categories.
✔ Identify the leading countries and regions that are contributing to market growth.
✔ Assess the competitive landscape and the strategies adopted by key players.
✔ Benefit from detailed forecasts and projections for market size and share up to 2031.
Frequently Asked Questions
1. How Big is the Europe Neurothrombectomy Devices Market?
2. Who are the Key Players in the Europe Neurothrombectomy Devices Market?
3. What is the Projected Growth Rate of the Europe Neurothrombectomy Devices Market?
4. What is the Market Forecast for the Europe Neurothrombectomy Devices Market by 2031?
5. Which Region is Estimated to Dominate the Europe Neurothrombectomy Devices Market through the Forecast Period?
Company Insights
Key players operating in the Europe neurothrombectomy devices market include:
• Medtronic
• Acandis GmbH
• Phenox GmbH
• Stryker
• Penumbra, Inc.
• Vesalio, LLC
• MicroVention, Inc. (Terumo Corporation)
• Abbott
• Johnson & Johnson Private Limited
• Teleflex Incorporated
Recent Developments:
• February 2024: WallabyPhenox published a study in JAMA Neurology showing that its pRESET thrombectomy device is more effective than Solitaire, setting a new standard in stroke treatment.
• September 2024: Stryker acquired Nico Corporation, expanding its neurotechnology portfolio with new devices for treating tumors and intracerebral hemorrhage.
The neurothrombectomy devices market in Europe is poised for continued expansion, driven by advancements in technology, increasing stroke prevalence, and favorable government support.
About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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