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Neurovascular Embolization Market - By Product (Embolic Coils, Flow Diversion Devices, Liquid Embolic Agents, Aneurysm Clips, Intrasaccular Flow Disruptors), Procedure (Aneurysm Coiling & Embolization, AVM Embolization), End-use – Global Forecast, 2023-2032
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Neurovascular Embolization Market
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Base Year: 2022
Companies covered: 12
Tables & Figures: 287
Countries covered: 18
Pages: 207
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Neurovascular Embolization Market Size
Neurovascular Embolization Market size was valued at USD 1.4 billion in 2022 and is estimated to account for USD 2.5 billion by 2032. Neurovascular embolization is a minimally invasive procedure that uses embolic agents delivered through a catheter to treat aneurysms, arteriovenous malformations, and tumors in brain and spinal cord by blocking or reducing blood flow to the affected area.
According to the Brain Aneurysms Foundation, in the U.S., roughly 6.7 million people have unruptured brain aneurysms, leading to an annual rupture rate of 8-10 cases per 100,000. Therefore, the rising prevalence of neurovascular diseases highlights the significance of neurovascular embolization as a crucial treatment, making it a key driver for the market progress.
Furthermore, research efforts dedicated to understanding neurovascular diseases and improving treatment techniques have led to the development of novel therapies. This includes new embolic agents, better imaging modalities, and alternative approaches, expanding the range of options available for physicians. Therefore, research initiatives stimulate market growth by providing new and better solutions.
COVID-19 Impact
The COVID-19 pandemic had a negative impact on the neurovascular embolization market with procedure delays and resource shifts. Nevertheless, it heightened medical awareness, boosted funding, and expedited telemedicine adoption. Additionally, there was a rise in incidence of ruptured blister aneurysms during the pandemic which were addressed to in later stages of pandemic. Despite healthcare disruptions, the pandemic ultimately created opportunities for progress in the neurovascular devices sector, estimated to reach 7.5 billion by 2032, contingent on ongoing research and healthcare policy developments.
Neurovascular Embolization Market Trends
Ongoing technological innovations in neurovascular embolization devices have enhanced treatment outcomes and patient safety. New materials, improved imaging techniques, and the development of more precise, minimally invasive devices have made the procedure more effective and accessible. For instance, in July 2023, MicroVention, Inc., released 5-year monitoring data for their intrasaccular device, WEB, and established two new sizes (SL 7x2 and SL 6x2) for aneurysm embolization technology, broadening its applicability to various aneurysm types and sizes. Such advancements attract healthcare providers and patients to opt for neurovascular embolization.
Neurovascular Embolization Market Analysis
The market by product is categorized into embolic coils, flow diversion devices, liquid embolic agents/systems, aneurysm clips and intrasaccular flow disruptors. The embolic coils segment garnered USD 907 million revenue size in the year 2022.
Based on procedure, the neurovascular embolization market is segmented into aneurysm coiling and embolization, arteriovenous malformation (AVM) embolization, and other procedures. The aneurysm coiling and embolization segment dominated the market and accounted for over 59% business share in the year 2022.
The neurovascular embolization market by end-use is categorized into hospitals, specialty clinics, and other end-users. The hospitals garnered USD 894 million revenue size in the year 2022.
The U.S. neurovascular embolization market accounted for USD 503 million revenue size in 2022 and is predicted to witness substantial market growth over the analysis timeline.
Neurovascular Embolization Market Share
The neurovascular embolization industry is consolidated, with key players such as Medtronic, Stryker, Cerenovus (Johnson & Johnson), and others dominating the market. These companies focus on ongoing product innovation, geographical expansion, and partnerships to secure substantial market shares. For instance, Medtronic's pipeline flex embolization device with shield technology has received FDA approval. This technology is a notable advancement in flow diversion therapy, reducing the risk of clot formation on the device's surface and improving treatment safety and efficacy.
Some of the eminent market participants operating in the neurovascular embolization industry include:
Neurovascular Embolization Industry News:
Neurovascular embolization market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and volume in Units from 2018 to 2032 for the following segments:
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By Product, 2018 – 2032 (USD Million and Units)
By Procedure, 2018 – 2032 (USD Million)
By End-use, 2018 – 2032 (USD Million)
The above information is provided for the following regions and countries: