The global neurointerventional devices market is predicted to develop at a CAGR of 4.7% from 2022 to 2030, with a market value of roughly US$ 2.5 billion in 2022. According to Future Market Insights, hospitals will account for more than 90.4% of the global market by end user in 2021. According to the study, the market will reach US$ 3.6 Billion in revenues by the end of 2030.
Since the past several years, the burden of neurological disorders has increased multifold. According to the National Center for Biotechnology Information (NCBI), the frequency of cerebral aneurysm is nearly 3.2%, with the prevalence being higher amongst women than men above 50 years of age.
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It is estimated that around 6.5 million people in the United States possess an unruptured brain aneurysm, while 30,000 suffer a brain aneurysm rupture every year. Based on these trends, it is unsurprising to observe the market being interspersed with the presence of several reputed manufacturers who constantly launch new products.
In addition, rising prevalence of ischemic stroke is also boosting the neurointerventional devices market. Being non-invasive in nature, these devices increase chances of survival during surgery, further fueling market growth. By 2030, a valuation of US$ 3.6 Billion is predicted for the market.
Global Neurointerventional Devices Market- Key Takeaways
- North America shall be the market hegemon, holding a 40.7% market share from 2020 to 2030
- Embolic coils to capture the majority share, carotid stents to surge in popularity
- High incidence of cerebral aneurysm to accelerate adoption of coiling procedures
- Presence of experienced surgeons shall accelerate hospital-grade neurointerventional device adoption
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Competitive Intelligence
Some influential vendors within the landscape include: Stryker Corporation, Covidien Public Ltd., Penumbra Inc., Terumo Corporation, Johnson & Johnson Private Limited, Medtronic PLC, Boston Scientific Corporation and Abbott.
Players are emphasizing on expanding their businesses through partnerships, collaborations and mergers & acquisitions and participation in trade fairs. Many of them are also aligning with research institutes to augment their research capacities.
In August 2020, Stryker Corporation successfully launched its Surpass Evolve flow diverter after receiving FDA clearance in the U.S market. The device has already been in use in Europe since 2019.
In September 2020, Penumbra Inc. shall participate in the virtual Global Embolization Symposium & Technologies 2020 Conference. The company hopes to broaden its outreach and collaborate with other leading players to develop and launch new neurointerventional devices, thus expanding its existing product portfolio.
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The North American region is expected to dominate the neurosurgery devices market during the forecast period. The presence of a well-established healthcare infrastructure and the increasing prevalence of neurological disorders are driving the growth of the market in this region. The United States is the largest market for neurosurgery devices in North America due to the high adoption rate of technologically advanced products.
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Key Market Segments Covered In Neurointerventional Devices Industry Research
By Product:
- Embolic Coils
- Carotid Stents
- Intracranial Stents
- Neurovascular Thrombectomy
- Embolic Protection Devices
- Flow Diverters Devices
- Intrasaccular Devices
- Liquid Embolic
- Balloons
- Stent Retrievers
By Technique:
- Neurothrombectomy Procedure
- Cerebral Angiography
- Stenting
- Coiling Procedures
- Flow Disruption
By End User:
- Hospitals
- Ambulatory Surgical Centers
About FMI:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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