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), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 – 2025

Published Date: Jul 2019  |  Report ID: GMI794  |  Authors: Sumant Ugalmugle

Report Format: PDF   |   Pages: 350   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Neurovascular Devices Market size was valued at over USD 2.4 billion in 2018 and is expected to witness more than 5.4% growth rate between 2019 and 2025. The volume of neurovascular devices sold is poised to exceed 1,500 thousand units by 2025.
 

Neurovascular Devices Market Overview

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Technological advancements in healthcare industry and growing number of neurovascular procedures worldwide will drive the market growth during the forecast period. Industry players are focusing on R&D activities for introduction of innovative products and novel technologies to offer efficient disease treatment. For instance, in June 2018, Terumo announced FDA clearance for SOFIA catheter, designed for distal navigation and successful revascularization of patients. Thus, commercialization of such advanced interventional neurology devices will augment the market expansion during the forecast timeline.
 

Moreover, various government initiatives to modernize and expand healthcare infrastructure across the globe will serve to be another positive impact rendering factor in the industry growth. Awareness programs, literature and growing concern regarding neurological diseases have increased the number of government initiatives in the field of interventional neurology over the recent years. For instance, central government of China announced a series of healthcare improvements to establish a simple universal healthcare system to provide effective, convenient, low cost and safe healthcare services to the people in China. Such initiatives will further spur the market value during the forecast period. However, high cost associated with neurovascular interventions and devices may impede the industry expansion over the forecast period.

 

The recent outbreak of COVID-19 rendered a notable impact on the neurovascular devices market owing to sudden increase in number of COVID-19 patients across the globe. The pandemic has created an unprecedented challenge for several medical professions throughout the world to tackle the rapidly changing scenario. Many parts of the world, including major economies such as the U.S., Germany, India, and China among others adopted lockdown in order to curb community transmission of the COVID-19 infection. This essential move resulted in a massive decline in the count of neurovascular surgery visits, impacting the growth negatively.
 

Companies within this space showcased a notable impact on product sales credited to delays in procedures and noted a certain drop in revenue generation from the market. However, the capacity to safely treat patients requiring urgent or emergency neurosurgical care was maintained in some countries, thereby, keeping the pandemic impact on the global market at a moderate side.
 

By Product

Carotid stents segment in the neurovascular devices market is projected to observe 4% growth rate through 2025 led by the inclination towards carotid artery stenting procedures. Usage of these devices to open the narrowed obstructed carotid artery to improve blood flow to the brain and minimize the risk of stroke in patients will increase its adoption in the coming years.
 

Flow diverters segment accounted for around USD 360 million in 2018. Technologically advanced flow diverters such as silk flow diverters in the treatment of brain aneurysm will boost the segment growth during the forecast timeline.
 

By Process

Neurovascular Devices Market Size

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Coiling segment held 14% of the market share in 2018. Coiling technique stops bleeding by filling the aneurysm with coils. The process averts open surgery and prevents scarring. Such factors will upsurge the demand for coiling procedure, thereby, fostering the industry revenue.
 

Flow disruption/diversion segment is predicted to expand at a CAGR of more than 5.5% by 2025. The technique is effectively used to remove large aneurysms and wide-neck bifurcation aneurysms. Recent advancements such as intrasaccular flow disruption procedures for treatment of cerebral aneurysm will propel the segment expansion.
 

By Therapeutic Application

Ischemic stroke segment captured 41% of the neurovascular devices market share in 2018 impelled by the large patient pool suffering from ischemic stroke worldwide. Increasing investment in R&D activities to develop technologically advanced devices for treating acute ischemic stroke along with rising healthcare expenditure will thus accelerate the segment revenue.
 

Stenosis segment exceeded USD 330 million in 2018 due to rapidly ageing population susceptible to chronic or recurring indications of degenerative spinal disease. Thus, rising prevalence of spinal stenosis will increase the demand for minimally invasive technique, thereby, augmenting the market progression.
 

By End-use

Hospitals segment is estimated to attain a CAGR of 5% through 2025. Hospitals offer high-end technological products along with minimally invasive procedures for various diseases. Improvements in healthcare facilities and favorable reimbursement policies for hospital procedures should boost the segment value.
 

Ambulatory surgical centers (ASCs) segment accounted for 32% of revenue share in 2018. ASCs offer quality and cost-effective treatments that surge patient preference for surgical procedures being performed in these centers.
 

By Region

Asia Pacific Neurovascular Devices Market

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Asia Pacific neurovascular devices market size was around USD 600 million in 2018 on account of the rising awareness regarding advanced and innovative neurovascular devices. Large patient pool in the highly populated Asian countries and rising healthcare expenditure will fuel the growth for APAC region.
 

North America market is anticipated to grow at a CAGR of over 5% during 2019 to 2025. Rising prevalence of stenosis, aneurysm, ischemic stroke and other neurovascular diseases is the key factor driving the regional growth. Accessibility to technologically advanced medical treatments and products should positively impact the industry progression.
 

Competitive Market Share

Prominent players operating in the market include Boston Scientific, Integer, ASAHI INTECC, MicroPort Scientific, KANEKA MEDIX, Johnson & Johnson, LivaNova, Penumbra, Medtronic, Terumo and Stryker. The industry leaders implement numerous strategies including acquisitions, partnerships and new product launches to capitalize on opportunities and strengthen the market position.
 

  • In April 2018, LivaNova received CE Mark for its Vagus Nerve Stimulation Therapy System consisting of SenTiva generator and next-generation programming system for epileptic patients. This product approval enabled company to expand its existing product portfolio and gain more revenue.
     
  • In July 2017, Johnson & Johnson announced introduction of Ceronovus, its new neurovascular business for effective stroke care. The strategy focused on development of innovative products for haemorrhagic and ischemic stroke patients, thereby, expanding its existing customer base and strengthening the market position.
     

Industry Background

Introduction of detachable embolization coils and stents marked the advent of neurovascular devices in the medical field. The first mini coil developed to increase thrombogenicity was launched in 1978. Technological advancements in thrombectomy and embolization devices further accelerated the interventional neurology devices industry demand. For instance, in March 2017, Integra LifeSciences introduced CUSA Clarity, an ultrasonic tissue ablation platform, to deliver an integrated and innovative system for enhanced performance during neurosurgical procedures. Availability of such devices has led to an increase in product demand over the recent years. Additionally, growing patient preference towards minimally invasive procedures should further stimulate the market growth over the coming years.
 

Neurovascular devices market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2014 to 2025, for the following segments:

Market By Product, 2014-2025 (USD Million, 000’ Units)

  • Embolic coils
  • Carotid stents
  • Intracranial stents
  • Catheters
  • Embolic protection devices
  • Flow diverters
  • Neurothrombectomy devices
  • Intrasaccular devices
  • Balloon systems
  • Stent retrievers
  • Guidewires 
  • Others

Market By Process, 2014-2025 (USD Million)

  • Neurothrombectomy
  • Cerebral angiography
  • Carotid endarterectomy
  • Stenting
  • Microsurgical clipping
  • Coiling
  • Flow diversion
  • Others

Market, By Therapeutic Applications, 2014-2025 (USD Million)

  • Brain aneurysm
  • Stenosis
  • Ischemic strokes
  • Others

Market, By End-Use, 2014-2025 (USD Million)

  • Hospitals
  • Ambulatory surgical centers
  • Clinics
  • Others

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

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

Frequently Asked Questions (FAQ) :

The market size of neurovascular devices size exceeded USD 2.4 billion in 2018.
The industry share of neurovascular devices will grow at 5.4% CAGR up to 2025.

Premium Report Details

  • Published Date: Jul 2019
  • Pages: 350
  • Tables: 306
  • Charts / Figures: 9
  • Companies covered: 11
  • Countries covered: 44

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