The global neurointerventional devices market is poised to achieve a valuation of USD 2.6 billion by 2023, driven by a surge in healthcare expenditure worldwide. This growth trend is expected to generate promising opportunities, projecting a compound annual growth rate (CAGR) of 4.7% from 2023 to 2033, culminating in an estimated market size of approximately USD 4.1 billion by the end of 2033.
A significant catalyst behind this expansion is the enhanced reimbursement policies for neurointerventional procedures. These policies are anticipated to incentivize healthcare providers to invest in advanced neurointerventional devices, thereby expanding their availability to patients and fostering market growth.
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The neurointerventional devices sector encompasses a range of innovative technologies designed to treat neurological conditions through minimally invasive procedures. This market growth reflects a rising demand for effective treatment options coupled with technological advancements in medical devices.
The market’s trajectory highlights a pivotal shift towards minimally invasive treatments for neurological disorders, supported by favorable regulatory frameworks and ongoing technological innovations. Key players in the neurointerventional devices market are expected to focus on expanding their product portfolios and strengthening distribution networks to capitalize on emerging opportunities.
Key Takeaways from the Market Study:
- Global neurointerventional devices market was valued at USD 2.5 billion by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 4.3%.
- The market in India is expected to expand at a CAGR of 4.5% through 2033.
- By end-user, the hospitals segment to expand at a CAGR of 4.5% through 2033.
- From 2023 to 2033, neurointerventional devices market is expected to flourish at a CAGR of 4.7%.
- By 2033, the market value of neurointerventional devices is expected to reach USD 4.1 billion.
“The digitalization of healthcare records and patient data can facilitate seamless communication between healthcare providers, potentially improving the utilization of neurointerventional devices,” remarks an FMI analyst.
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Competitive Landscape:
Prominent players in the neurointerventional devices market are Stryker Corporation, Penumbra Inc., Covidien Public Limited, Johnson & Johnson Private Limited, Terumo Corporation, Medtronic, Boston Scientific, MicroPort, Scientific Corporation, W. L. Gore & Associates, Inc., Abbott, Philips Healthcare, and Siemens Healthineers, among others.
Recent Developments:
- In 2023, Johnson & Johnson announced the launch of its new neurointerventional device, the EmboTrap™ II Embolic Capture Device. The EmboTrap™ II Embolic Capture Device is a next-generation embolectomy device that is designed to improve the treatment of stroke.
- In 2022, Boston Scientific announced the launch of its new neurointerventional device, the ACURUN™ Onyx™ Liquid Embolic System. The ACURUN™ Onyx™ Liquid Embolic System is a liquid embolic agent that is designed to treat vascular malformations and other neurovascular disorders.
Segmentation Analysis of the Neurointerventional Device Market:
By Product:
- Embolic Coils
- Carotid Stents
- Intracranial Stents
- Neurovascular Thrombectomy
- Embolic Protection Device
- Flow Diverters Device
- Intrasaccular Device
- Liquid Embolic
- Balloons
- Stent Retrievers
By Technique:
- Neurothrombectomy Procedure
- Cerebral Angiography
- Stenting
- Coiling Procedures
- Flow Disruption
By End User:
- Hospitals
- Ambulatory Surgical Centers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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