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Neurovascular Devices Market size to exceed $7.5Bn by 2032

Published Date: April 24, 2023

Neurovascular Devices Market size is estimated to reach USD 7.5 billion by 2032, as per a new research report announced by Global Market Insights Inc.

A commendable surge in government initiatives focused on modernizing healthcare infrastructure across the globe will support market expansion  by 2032. Various organizations across the globe have been pumping billions into the development of unique, sophisticated, and revolutionary neurovascular devices for their patients and consumers. Awareness programs and rising concerns regarding neurological diseases have surged the number of government initiatives in the field of neurovascular diseases.

Device commercialization issues across developing economies to restrict market  progress

The commercialization of neurovascular devices in developing economies faces various challenges in terms of the country’s gross domestic product, the presence of local manufacturers, overall healthcare expenditure, the share of public healthcare spending, and demographics of the region. Thus, the main difficulties of the commercialization process relate to the availability of resources, marketing, and business environment, as well as the planning and management of the commercialization process.

Browse key industry insights spread across 462 pages with 613 market data tables & 17 figures & charts from the report, “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, 2023 – 2032” in detail along with the table of contents:

Embolic coils demand to grow due to increasing incidences of minimally invasive surgeries

Neurovascular devices market from Embolic coils segment is  poised to garner over USD 1.2 billion by 2032. Embolic coils are used to maintain blood clots by placing a fine coil in a vascular defect. It allows precise occlusion of blood flow in a blood vessel. The rising prevalence of brain aneurysms and ischemic stroke in developed countries will contribute to the segment progression. Additionally, the surge in rise for minimally invasive procedures, such as coil embolization using embolic coils, will further boost product demand in the future.

Rising aging population to drive product adoption in brain aneurysm therapeutic applications

Neurovascular market from the brain aneurysm segment is expected to grow at 7.3% CAGR  by 2032. The segment progress is attributed to surging incidences of brain aneurysm in the geriatric population base. Other factors that lead to the development of brain aneurysms include smoking, high blood pressure, and a family history of aneurysms. Several invasive treatments, such as flow diverters and tubular stent-like implants, are made available to treat this condition. These devices help divert the blood flow away from the aneurysm sac. The diversion thwarts blood flow within the aneurysm, forcing the body to repair the wound and encourage arterial rebuilding in the patient, thus supporting market  trends.

Availability of low-cost treatment to augment product demand in ASCs

Ambulatory Surgical Centers (ASCs) segment  accounted over 33% of the neurovascular devices market share in 2022 and is likely to emerge as a promising consumer of neurovascular devices by 2032. ASCs offer low-cost treatment, which reduces the financial strain on Medicare and private insurance providers. These are modern healthcare facilities that focus on providing same-day surgical care, including diagnostic and preventive procedures that secure the market landscape through 2032.

Supportive regulatory framework to streamline industry growth across the Asia Pacific

Asia Pacific neurovascular devices industry is set to grow at a CAGR of 7.1%  by 2032. The consistent expansion of the geriatric population base and its susceptibility to several health disorders will favor regional market  scenario. In addition, favorable regulatory scenarios for medical modalities for superior patient care and improving healthcare infrastructure and other factors will positively the overall business  by 2032.

Partnerships and collaborations to define the competitive outlook

Notable players in the neurovascular devices market are Asahi Intecc Co. Ltd., Integer Holdings Corporation,  Johnson & Johnson Services, Kaneka Medix Corp. Medtronic, MicroPort Scientific Corporation, Merit Medical System, Penumbra, Inc., Stryker, and Terumo Corporation.


Authors: Rupali Swain, Subodh Kharad