Neurovascular Devices Market Size By Product (Embolic Coils, Carotid Stents, Intracranial Stents, Catheters, Embolic Protection Devices, Flow Diverters, Neurothrombectomy Devices, Intrasaccular Devices, Balloon Systems, Stent Retrievers, Guidewires), By Process (Neurothrombectomy, Cerebral Angiography, Carotid Endarterectomy, Stenting, Microsurgical Clipping, Coiling, Flow Diversion), By Therapeutic Applications (Brain Aneurysm, Stenosis, Ischemic Strokes), By End-use (Hospitals, Ambulatory Surgical Centers, Clinics), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 – 2030

Industry Overview

Neurovascular Devices Market size was valued at USD 3 billion in 2021. Driven by growing demand for minimally invasive surgical procedures, the industry is expected to grow at a 5.5% CAGR from 2022 to 2030.
 

Rise in the number of people suffering from brain aneurysms and ischemic strokes, especially in North America, is a major factor contributing to the high prevalence of neurological disorders, which is set to propel the market progress. The predominance of disorders, such as stroke, migraine, and dementia, is impelling the overall burden of neurological disorders.
 

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Furthermore, the expanding aging population, along with a large population base suffering ischemic stroke, is also fueling the demand for neurovascular devices. For instance, as per Alzheimer's Association, about 5.5 million Americans have Alzheimer's disease, and the number is anticipated to reach 16 million by 2050. Among these individuals, 5.3 million people are above the age of 65, while nearly 200,000 individuals have developed the disease at a young age.
 

Booming need for cost-effective procedures may restrain industry progression

The swelling need for more effective and low-cost treatments is restraining neurovascular devices market expansion. Disease management is complex and challenging in the case of intracranial aneurysms, arteriovenous malformations (AVMs), and strokes. The lack of a single effective therapy has pushed the need for more innovative and effective therapies that are also available at reasonable prices. Nevertheless, ongoing efforts towards advancing surgical procedures to create quick, effective, and cost-effective therapy are primed to aid industry players in overcoming the issue.
 

Significant prevalence of brain aneurysms to boost the demand for embolic coils

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In terms of product, the neurovascular devices market is categorized into embolic coils, intracranial stents, carotid stents, catheters, flow diverters, embolic protection devices, neurothrombectomy devices, balloon systems, intrasaccular devices, guidewires, stent retrievers, and others. Embolic coils segment registered more than USD 530 million in 2021 as a result of the burgeoning prevalence of brain aneurysms and ischemic strokes, especially in developed countries. Additionally, surging demand for minimally invasive procedures, such as coil embolization, that utilize embolic coils is foreseen to foster market statistics.
 

Continuous product innovation to supplement neurothrombentomy procedure uptake

With respect to processes, the neurovascular devices market is divided into coiling, microsurgical clipping, neurothrombectomy, cerebral angiography, stenting, carotid endarterectomy, flow diversion, and others. The neurothrombectomy segment is slated to progress at over 5% CAGR between 2022 and 2030. This is attributable to efficient neurothrombectomy devices that are launched by key players to retrieve or destruct blocked blood clots.
 

Availability of effective therapies & devices to accelerate hospitals segment trends

Based on end-use, the neurovascular devices market is classified into hospitals, clinics, ambulatory surgical centers, and others. The hospitals segment is estimated to cross USD 2.4 billion by 2030. The substantial utilization of neurovascular devices in hospitals due to the increasing patient population base suffering from neurovascular disorders is primed to contribute to segment progress. Moreover, an upsurge in hospital admissions in order to avail comprehensive treatment options for various brain and spine disorders is generating strong demand for neurovascular devices in hospitals.
 

Escalating incidences of ischemic strokes to define the industry landscape

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In terms of therapeutic application, the neurovascular devices market is segregated into brain aneurysm, ischemic strokes, stenosis, and others. The report states that the ischemic strokes segment held more than 40.5% business share in 2021. The segment expansion can be credited to soaring incidences of ischemic strokes, coupled with a widespread need for minimally invasive procedures. For instance, a Centers for Disease Control and Prevention (CDC) report states that each year, around 7,95,000 individuals in the U.S. suffer from strokes, of which over 87% of cases are ischemic strokes.
 

Prevalence of neurological disorders to aid Europe emerge as a prominent revenue pocket

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Europe neurovascular devices market accounted for over 29% revenue share in 2021. The rising burden of chronic neurological disorders across countries such as the UK, Germany, and France is fostering the demand for neurovascular devices. In addition, the presence of top industry participants is poised to benefit the regional market value.
 

Product range expansion to favor the neurovascular devices market outlook

MicroPort Scientific Corporation, Integer Holdings Corporation, Penumbra, Inc., Kaneka Medix Corp., Johnson & Johnson, Asahi Intecc Co. Ltd., Medtronic, Merit Medical System, Stryker, and Terumo Corporation are some key players in the market. These companies primarily focus on rigorous R&D initiatives, product diversification, and strategic mergers & collaborations to innovate effective devices and stay ahead in the competitive landscape.
 

Impact of COVID-19 on the neurovascular devices market trends

The COVID-19 pandemic severely hampered market growth in both developing and developed nations, hampering the operations of virtually all sectors and organizations in the industry, irrespective of the size. The healthcare space witnessed a negative impact majorly due to the spike in COVID-19 cases. However, the market observed a moderate impact as a result of a steady number of cases of neurological disorders, which is surging drastically in the post-pandemic scenario, boosting product adoption.
 

The neurovascular devices market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2030, for the following segments:

By Product

• Embolic Coils
• Carotid Stents
• Intracranial Stents
• Catheters
• Embolic Protection Devices
• Flow Diverters
• Neurothrombectomy Devices
• Intrasaccular Devices
• Balloon Systems
• Stent Retrievers
• Guidewires
• Others

By Process

• Neurothrombectomy Procedure
• Cerebral Angiography Technique
• Carotid Endarterectomy (CEA)
• Stenting
• Microsurgical Clipping
• Coiling
• Flow Diversion
• Others

By Therapeutic Applications

• Brain Aneurysm
• Stenosis
• Ischemic Strokes
• Others

By End-use

• Hospitals
• Ambulatory Surgical Centers
• Clinics
• Others

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Turkey
  • Netherlands
  • Belgium
  • Austria
  • Switzerland
  • Poland
  • Czech Republic
  • Hungary
  • Portugal
  • Greece
  • Romania
  • Bulgaria
  • Denmark
  • Sweden
  • Norway
  • Finland
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Korea
  • Singapore
  • Hong Kong
  • Taiwan
  • Indonesia
  • Cambodia
  • Philippines
  • Vietnam
  • Malaysia
  • Thailand
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • Saudi Arabia
  • South Africa
  • UAE