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Neurovascular Devices Market Report Scope & Overview:

The Neurovascular Devices Market Size was valued at USD 3.01 billion in 2023, and is expected to reach USD 4.81 billion by 2030, and grow at a CAGR of 6.05% over the forecast period 2024-2031.

Endovascular treatment advances account for a major portion of new developments in the neurovascular devices market. The method has been shown to be beneficial in the treatment of cerebral aneurysms. In the therapeutic setting, a variety of neurovascular devices with new designs and materials have been developed and employed. Numerous innovative solutions for treating intracranial aneurysms have broadened the landscape of the neurovascular devices market over the last decade. Endovascular gadgets with low total blockage rates at the start. The introduction of alternative materials, the most famous of which are biopolymers and specialist materials such as nitinol, has fueled recent evolution in the neurovascular devices market. Producers are putting new designs to the test, notably for treating cerebral aneurysms with a wide neck. The efficacy of neurovascular devices is being bolstered by advances in procedural procedures, which is expanding the possibilities.

Neurovascular Devices Market Revenue Analysis

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The increasing field of endovascular therapeutic research has concentrated on innovative treatments for acute ischemic strokes in recent years. Regulators have been surprisingly active in changing the standards for new device approval. Growing public awareness of the morbidity of diseases like Parkinson's disease and Alzheimer's disease, as well as situations like traumatic brain injury (TBI), has led to a surge in research into neuro-interventional endovascular techniques. Healthcare providers are on the lookout for devices that are both safe and effective in treating different forms of cerebral aneurysms.

MARKET DYNAMICS

DRIVERS

  • Demand for neurovascular devices grows as the patient pool grows.

  • Pharmaceutical and biotechnology companies are investing more in R&D.

  • Neurovascular treatments have progressed technologically.

  • Efforts by governments around the world to improve healthcare facilities

  • Negligibly intrusive careful strategies are turning out to be progressively famous.

RESTRAINTS

  • Neurovascular Devices Have a High Price Tag

  • Neurovascular procedures and related goods have a high procedure cost.

OPPORTUNITIES

  • Huge Demand for Minimally Invasive Processes to Create Opportunities

  • Emerging markets provide potential.

CHALLENGES

  • Growth is being hampered by a scarcity of competent neurosurgeons.

  • Regulations that are rigid

  • Treatments that are both effective and inexpensive are required.

IMPACT OF COVID-19

The COVID-19 epidemic has had a significant impact on the medical device sector, notably interventional neurology devices. In spite of the criticalness, the quantity of patient visits to clinics has diminished emphatically during the most recent a half year. During the COVID-19 plague, there is a great deal of variety in how neuro interventional techniques are taken care of. To avoid contact with COVID-19 patients and healthcare staff, patients are avoiding healthcare establishments. A variety of acute and critical illnesses, such as stroke, myocardial infarction, and various malignancies, have shown declining rates. As governments and authorities work to secure the resource availability for COVID-19 patients, the percutaneous neurology devices market is projected to be impacted. Supply chains have been affected by closed manufacturing facilities as a result of lockdowns, and clinical trial recruitment has been decreased, reducing the overall market's growth.

By Device Type: 

neurovascular gadget market is portioned into cerebral angioplasty and stenting frameworks, cerebral embolization and aneurysm winding gadgets, and backing gadgets. Cerebral embolization and aneurysm snaking gadgets is additionally portioned into, stream redirection gadgets, embolic loops, and fluid embolic specialists. Cerebral angioplasty and stenting frameworks are additionally sectioned into embolic security frameworks and carotid corridor stents. Neurothrombectomy gadgets are additionally ordered into clump recovery gadgets, pull gadgets, and vascular catches.

In 2023, cerebral embolization and aneurysm curling gadgets ruled the neurovascular gadget market with the portion of 37.69%. Expanding pervasiveness of neurological circumstances like cerebrum aneurysm, stroke, arteriovenous abnormalities (AVMs), rising medical services consumption, and expanding R&D venture are not many elements contributing towards the market development.

By Therapeutic Application: 

Due to reasons such as rising frequency of stroke, hypertension, and other neurological illnesses, the stroke category dominated the market with a CAGR of 6.1 percent. Strokes are the world's second greatest cause of death, accounting for over 140,000 deaths in the United States each year.

Increased government and non-governmental organization (NGO) awareness campaigns around the world are helping to the segment's growth. For example, in 2018, the Stroke Alliance for Europe (SAFE), a non-profit organisation with members from 12 countries, joined Boehringer Ineglheim's (BI) Angel's Initiative to provide essential information to stroke victims. The introduction of technologically enhanced items is also propelling the industry forward.

KEY MARKET SEGMENTATION:

By Device Type

  • Cerebral Embolization and Aneurysm Coiling Devices

    • Embolic Coils

    • Liquid Embolic Agents

    • Flow Diverters

  • Cerebral Angioplasty and Stenting Systems

    • Embolic Protection Devices

    • Carotid Artery Stents

  • Neurothrombectomy Devices

    • Clot Retrieval Devices

    • Vascular Snares

    • Suction Devices

  • Support Devices

    • Micro Guidewires

    • Micro Catheters

By Therapeutic Application

  • Stroke

  • Cerebral Artery Stenosis

  • Cerebral Aneurysm

    • Aneurysmal Subarachnoid Hemorrhage

  • Others

REGIONAL ANALYSIS

Because of the large number of important companies functioning in the neurovascular devices market, North America accounted for a considerable portion of the market size and is likely to continue this trend. Johnson & Johnson, Stryker Corporation, Penumbra, Inc., Merit medical systems, Inc. are a portion of the significant ventures in the locale. As a result of the presence of significant players in the region, neurovascular devices are readily available. Other factors, such as the rise in the prevalence of neurovascular illnesses, are also driving the growth of the neurovascular devices market in the area. Furthermore, due to an increase in awareness about the use of neurovascular devices, Asia-Pacific is predicted to develop at the quickest rate.

Neurovascular Devices Market By Region

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REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Some of the major key players are as follows: Johnson and Johnson Services Inc., Penumbra, Inc., Microport Scientific Corporation, Stryker, Microvention Inc (Terumo Corporation), Codman Neuro (Integra Lifesciences), Medtronic, and other players.

Stryker-Company Financial Analysis

Company Landscape Analysis

Neurovascular Devices Market Report Scope:
Report Attributes Details
Market Size in 2023 US$ 3.01 Billion
Market Size by 2031 US$ 4.81 Billion
CAGR CAGR of 6.05% From 2024 to 2031
Base Year 2023
Forecast Period 2024-2031
Historical Data 2020-2022
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Device Type (Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices)
• By Therapeutic Application (Stroke, Cerebral Artery Stenosis, Cerebral Aneurysm, Others)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Johnson and Johnson Services Inc., Penumbra, Inc., Microport Scientific Corporation, Stryker, Microvention Inc (Terumo Corporation), Codman Neuro (Integra Lifesciences), Medtronic, and other players.
DRIVERS • Demand for neurovascular devices grows as the patient pool grows.
• Pharmaceutical and biotechnology companies are investing more in R&D.
• Neurovascular treatments have progressed technologically.
RESTRAINTS • Neurovascular Devices Have a High Price Tag
• Neurovascular procedures and related goods have a high procedure cost.

Frequently Asked Questions

Ans: The Neurovascular Devices Market Size was valued at US$ 3.01 Bn in 2023.

Stroke, Cerebral Artery Stenosis, Cerebral Aneurysm and others are the sub segments of Therapeutic Application.

Key drivers of the Neurovascular Devices Market is Neurovascular treatments have progressed technologically, Efforts by governments around the world to improve healthcare facilities

Endovascular treatment advances account for a major portion of new developments in the neurovascular devices market. The method has been shown to be beneficial in the treatment of cerebral aneurysms. In the therapeutic setting, a variety of neurovascular devices with new designs and materials have been developed and employed.

Ans: The Neurovascular Devices Market is growing at a CAGR of 6.05% over the forecast period 2024-2031.

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

  

8. Neurovascular Devices Market Segmentation, By Device Type

8.1 Cerebral Embolization and Aneurysm Coiling Devices

8.1.1 Embolic Coils

8.1.2 Liquid Embolic Agents

8.1.3 Flow Diverters

8.2 Cerebral Angioplasty and Stenting Systems

8.2.1 Embolic Protection Devices

8.2.2 Carotid Artery Stents

8.3 Neurothrombectomy Devices

8.3.1 Clot Retrieval Devices

8.3.2 Vascular Snares

8.3.3 Suction Devices

8.4 Support Devices

8.4.1 Micro Guidewires

9.4.2Micro Catheters

9. Neurovascular Devices Market Segmentation, By Therapeutic Application

9.1 Stroke

9.2 Cerebral Artery Stenosis

9.3 Cerebral Aneurysm

9.3.1 Aneurysmal Subarachnoid Hemorrhage

9.3 Others

10. Regional Analysis

10.1 Introduction

10.2 North America

10.2.1 USA

10.2.2 Canada

10.2.3 Mexico

10.3 Europe

10.3.1 Germany

10.3.2 UK

10.3.3 France

10.3.4 Italy

10.3.5 Spain

10.3.6 The Netherlands

10.3.7 Rest of Europe

10.4 Asia-Pacific

10.4.1 Japan

10.4.2 South Korea

10.4.3 China

10.4.4 India

10.4.5 Australia

10.4.6 Rest of Asia-Pacific

10.5 The Middle East & Africa

10.5.1 Israel

10.5.2 UAE

10.5.3 South Africa

10.5.4 Rest

10.6 Latin America

10.6.1 Brazil

10.6.2 Argentina

10.6.3 Rest of Latin America

11. Company Profiles

11.1 Johnson and Johnson Services Inc.

11.1.1 Financial

11.1.2 Products/ Services Offered

11.1.3 SWOT Analysis

11.1.4 The SNS view

11.2 Medtronic

11.3 Penumbra, Inc.

11.4 Microport Scientific Corporation

11.5 Stryker

11.6 Microvention Inc (Terumo Corporation)

11.7 Codman Neuro (Integra Lifesciences)

12. Competitive Landscape

12.1 Competitive Benchmark

12.2 Market Share Analysis

12.3 Recent Developments

13. Conclusion

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The 5 steps process:

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Secondary Research

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Primary Research

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Data Bank Validation

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