The global neurointerventional devices market size is projected to be worth US$ 2.6 billion in 2023, with projections indicating a market value of approximately USD 4.1 billion by 2033. This expansion is driven by increased healthcare expenditures worldwide and enhanced reimbursement policies for neurointerventional procedures, according to a new market study.
The neurointerventional devices sector, encompassing innovative technologies for treating neurological conditions through minimally invasive procedures, was valued at USD 2.5 billion by the end of 2022. The market is experiencing a compound annual growth rate (CAGR) of 4.3% from 2018 to 2022, with expectations to sustain a robust CAGR of 4.7% from 2023 to 2033.
Key factors contributing to this growth include improved reimbursement policies, which are expected to incentivize healthcare providers to invest in advanced neurointerventional devices. These policies are likely to increase device availability and drive market expansion.
Key Market Insights:
- The global neurointerventional devices market is projected to reach USD 4.1 billion by 2033.
- The market is anticipated to grow at a CAGR of 4.7% from 2023 to 2033.
- By end-user, the hospitals segment is expected to expand at a CAGR of 4.5% through 2033.
- The Indian market is forecasted to grow at a CAGR of 4.5% through 2033.
“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 include 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.
As the market continues to evolve, key players are expected to focus on expanding their product portfolios and strengthening distribution networks to capitalize on emerging opportunities in this dynamic sector.
Recent Developments:
- Johnson & Johnson launched the EmboTrap™ II Embolic Capture Device in 2023, designed to enhance stroke treatment.
- Boston Scientific introduced the ACURUN™ Onyx™ Liquid Embolic System in 2022, targeting vascular malformations and neurovascular disorders.
Market Segmentation:
- By Product: Embolic Coils, Carotid Stents, Intracranial Stents, Neurovascular Thrombectomy, and more.
- By Technique: Neurothrombectomy Procedure, Cerebral Angiography, Stenting, Coiling Procedures.
- 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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