Neurovascular Devices Market Analysis

Neurovascular Devices Market Analysis

Neurovascular devices market share from the flow diverters segment is projected to observe a 7.5% CAGR from 2023 to 2032. Flow diverters are stent devices used in non-invasive endovascular surgery wherein it is placed in the parent blood vessel to disrupt intra-aneurysmal blood flow and change the transmural pressure gradient. Growing awareness among people regarding the treatment and initiatives taken by the government to prevent the rate of intracranial aneurysms are a few other factors contributing to the market statistics. Also, the surgical procedure for flow diverters is less complicated than embolic coils and requires a shorter inpatient time, which will favor their adoption over the coming years.
 

Regarding the process, the stenting segment of the neurovascular devices market is poised to be worth over USD 1 billion by 2032. A stent is a small, expandable metal mesh coil that helps prevent artery closure during surgery. Therefore, a commendable rise in the number of stenting procedures for the treatment of complicated aneurysms that are not feasible to treat using coiling procedures will positively influence the industry landscape.
 

In terms of therapeutic application, the ischemic stroke segment amassed over 40% neurovascular devices market share in 2022. A noticeable surge in incidences of ischemic strokes, in line with the growing demand for minimally invasive procedures, may contribute to segment expansion. For instance, according to the Centers for Disease Control and Prevention (CDC) report, each year, approximately 7,95,000 individuals in the U.S. suffer from stroke and about 87 percent of that are ischemic strokes.
 

Neurovascular devices market from hospital segment is anticipated to emerge as a potential revenue hub and garner a valuation of over USD 3.5 billion by 2032. The higher adoption rate of neurovascular devices in hospitals, attributed to a rise in the number of patients suffering from neurovascular disorders, will favor the segment progress. Additionally, there has been an increase in the number of hospital admissions that strive to provide comprehensive treatment options for various brain and spine disorders, generating a huge demand for neurovascular devices.
 

From a regional perspective, the North America neurovascular devices market size surpassed USD 1.3 billion in 2022. This is attributed to the increasing prevalence of ischemic strokes, in line with the rising number of surgeries across North America. The surge in funding for advanced healthcare research, high per capita healthcare expenditure, and implementation of favorable reimbursement policies will further boost the overall market growth.