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 Ugalmugale

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




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Neurovascular Devices Market size was valued at USD 2.4 billion in 2018 and is expected to witness 5.4% CAGR from 2019 to 2025. In addition, the volume of neurovascular devices sold is set to exceed 1,500 thousand units by 2025.
 

U.S. Neurovascular Devices Market Share, By Product, 2018 & 2025 (USD Million, 000’ Units)

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Technological advancements in healthcare industry and growing number of neurovascular procedures worldwide will drive neurovascular devices 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 industry growth during the forthcoming years.
 

Moreover, various government initiatives to modernize and expand healthcare infrastructure across the globe will serve to be another positive impact rendering factor in the business 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 neurovascular devices market size during the analysis timeframe. However, high cost associated with neurovascular interventions and devices may impede industry growth over the forecast period.
 

Neurovascular Devices Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 2.4 Billion (USD)
Historical Data for: 2014 to 2018 Forecast Period: 2019 to 2025
Forecast Period 2019 to 2025 CAGR: 5.4% 2025 Value Projection: 3 Billion (USD)
Pages: 350 Tables, Charts & Figures: 315
Geographies covered (44): U.S., Canada, Germany, France, UK, Italy, Spain, Russia, Turkey, Netherlands, Belgium, Austria, Switzerland, Poland, Czech Republic, Hungary, Portugal, Greece, Romania, Bulgaria, Denmark, Sweden, Norway, Finland, Japan, China, India, Australia, Korea, Singapore, Hong Kong, Taiwan, Indonesia, Cambodia, Philippines, Vietnam, Malaysia, Thailand, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa
Segments covered: Product, Process, Therapeutic Applications, End-use and Region
Companies covered (11): Asahi Intecc Co. Ltd., Boston Scientific Corporation, Integer Holdings Corporation, Johnson & Johnson Services, Inc., Kaneka Medix Corp., LivaNova PLC, Medtronic, MicroPort Scientific Corporation, Penumbra, Inc., Stryker, Terumo Corporation
Growth Drivers:
  • Increasing number of brain aneurysm and ischemic strokes in North America
  • Rising demand for minimally invasive surgical procedures
  • Technological advancement in neurovascular treatments
  • Government initiatives to modernize healthcare infrastructure across the globe
Pitfalls & Challenges:
  • Need for designing more effective and low-cost treatments
  • Challenges involved in commercialization of neurovascular devices across developing and underdeveloped economies

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Neurovascular Devices Market, By Product

Carotid stents segment is projected to witness over 4% CAGR during the forecast timeframe owing to 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 foreseeable future.
 

Flow diverters segment was valued around USD 360 million in 2018 and is anticipated to grow significantly by 2025. Technologically advanced flow diverters such as silk flow diverters in the treatment of brain aneurysm will boost segmental growth over the analysis period.
 

Analysis By Process

Coiling segment held over 14% of neurovascular devices market share in 2018 and is expected to show lucrative growth during the forthcoming years. 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 business growth.
 

Flow disruption/diversion segment accounted for considerable revenue share in 2018 and is estimated to witness over 5.5% CAGR over the analysis period. 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 segmental growth.
 

Germany Neurovascular Devices Market Size, By Process, 2018 (USD Million)
Germany Neurovascular Devices Market Size, By Process, 2018 (USD Million)

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Insights By Therapeutic Application

Ischemic stroke segment held around 41% revenue share in 2018 and will exhibit significant growth during the analysis period. Segmental growth is attributable to 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 increasing healthcare expenditure will thus accelerate the segmental growth.
 

Stenosis neurovascular devices market segment was valued more than 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 industry growth.
 

Neurovascular Devices Market, By End-use

Hospitals segment is anticipated to show over 5% CAGR during the forthcoming years. 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 segmental growth.
 

Ambulatory surgical centers segment was valued over 32% of neurovascular devices market share in 2018. ASCs offer quality and cost-effective treatments that drive patient preference for surgical procedures being performed in these centers. Such factors will thus bolster segment growth over the coming years.
 

Neurovascular Devices Industry, By Region

North America neurovascular devices market is assessed to witness more than 5% CAGR over the analysis period. Rising prevalence of stenosis, aneurysm, ischemic stroke and other neurovascular diseases is the key factor driving regional neurovascular devices business growth. Accessibility to technologically advanced medical treatments and products should positively impact the business growth.
 

Asia Pacific neurovascular devices business was valued over USD 600 million in 2018. Regional growth can be attributed to rising awareness regarding advanced and innovative neurovascular devices. Large patient pool in the highly populated Asian countries and rising healthcare expenditure will accelerate Asia Pacific neurovascular devices industry growth.
 

Asia Pacific Neurovascular Devices Market Share, By Country, 2025 (USD Million)
Asia Pacific Neurovascular Devices Market Share, By Country, 2025 (USD Million)

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Competitive Market Share

Prominent industry players operating in neurovascular devices market share include Boston Scientific, Integer, ASAHI INTECC, MicroPort Scientific, KANEKA MEDIX, Johnson & Johnson, LivaNova, Penumbra, Medtronic, Terumo and Stryker. The business players implement numerous strategies including acquisitions, partnerships and new product launches to capitalize on opportunities and strengthen 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 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 growth. 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. Moreover, growing patient preference towards minimally invasive procedures should further drive neurovascular devices market growth during the forthcoming years.
 


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