According to the latest report by IMARC Group, titled "Neurovascular Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global neurovascular devices market size reached US$ 2.74 Billion in 2022. Neurovascular devices represent a category of specialized medical equipment designed for the diagnosis and treatment of conditions affecting the blood vessels in the brain and spinal cord. These devices encompass a wide range of tools and technologies, including neurovascular stents, embolization coils, flow diverters, and catheters, among others. They are employed in the management of various neurovascular disorders, including aneurysms, arteriovenous malformations (AVMs), and ischemic strokes. Neurovascular diseases can have severe and often life-threatening consequences, making the development and utilization of advanced medical devices crucial. Neurovascular devices enable minimally invasive procedures, such as endovascular surgery, which reduce the risks associated with traditional surgical interventions and contribute to quicker patient recovery.
Global Neurovascular Devices Market Trends:
The global market is primarily driven by the increasing incidence of neurovascular diseases, particularly among the aging population. As life expectancy rises, so does the prevalence of conditions, such as ischemic strokes and cerebral aneurysms, necessitating advanced medical interventions. Along with this, technological advancements in neurovascular devices are revolutionizing the field of interventional neurology. Innovations such as flow-diverting stents and detachable coils are enhancing the efficacy and safety of neurovascular procedures, attracting both healthcare providers and patients. Moreover, the growing awareness of the importance of early diagnosis and treatment of neurovascular disorders is contributing to market growth. Public health campaigns and initiatives focusing on stroke awareness and the benefits of timely intervention are increasing patient referrals and treatment rates. Furthermore, favorable reimbursement policies and healthcare infrastructure development in emerging markets are expanding access to neurovascular interventions, driving market expansion globally. Some of the other factors driving the market further include extensive research and development (R&D) activities conducted by key players and increasing awareness among the masses. Looking forward, the market value is projected to reach US$ 3.90 Billion by 2028, expanding at a CAGR of 5.9% during 2023-2028.
- On the basis of the product, the market has been categorized into cerebral embolization and aneurysm coiling devices (embolic coils, flow diverters, and liquid embolic agents), cerebral angioplasty and stenting systems (carotid artery stents and embolic protection devices), neurothrombectomy devices (clot retrieval devices, suction devices, and vascular snares), and support devices (micro catheters and micro guidewires). Presently, cerebral embolization and aneurysm coiling devices represent the largest segment.
- Based on the application, the market has been segmented into ischemic stroke, aneurysm, arteriovenous malformation and fistulas (AVM), stenosis, and others.
- On the basis of the end user, the market has been bifurcated into hospitals, ambulatory surgical centers, clinics, and others. Among these, hospitals represent the largest segment.
- Region wise, the market has been segregated into North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Among these, North America holds a leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Acandis GmbH, Asahi Intecc Co. Ltd., Imperative Care Inc., Integer Holdings Corporation, Johnson & Johnson, Medtronic plc, MicroPort Scientific Corporation, Penumbra Inc., Perflow Medical Ltd., Rapid Medical, Stryker Corporation and Terumo Corporation.
|Base Year of the Analysis
||Product, Application, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Acandis GmbH, Asahi Intecc Co. Ltd., Imperative Care Inc., Integer Holdings Corporation, Johnson & Johnson, Medtronic plc, MicroPort Scientific Corporation, Penumbra Inc., Perflow Medical Ltd., Rapid Medical, Stryker Corporation and Terumo Corporation
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