Neurovascular Devices Market Size, Strategic Analysis, Growth Drivers, Industry Trends, Demand and Future Opportunities and Forecast Period
The neurovascular devices market was
estimated to be worth USD 3.1 billion globally in 2022 and is expected to grow
to USD 6.5 billion by 2030, with a compound annual growth rate (CAGR) of 9.6%
from 2023 to 2030. From diagnosis to therapy and management of a variety of
disorders affecting the blood arteries inside the brain and spinal cord,
neurovascular devices play a critical role. The market is increasing and
sustainable since it is in line with the healthcare industry.
The medical equipment used to treat conditions affecting
the blood arteries and nerves in the brain and spinal cord is known as a
neurovascular device. Neurosurgeons, radiologists, neurologists, and other
healthcare professionals use a variety of devices, including stents, embolic
coils, flow diverters, and more, to improve patients' neurovascular conditions
by restoring blood flow and lowering the risk of complications.
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GROWTH DRIVERS
One of the key factors driving the market is the increase
in incidences of neurological disorders, such as stroke, cerebral disorders,
and other abnormalities comparable to these. In 2022, the World Stroke
Organization (WSO) reported that 7.6 million cases were reported globally. The
WHO estimates that 3.4 billion people, or 43% of the world's population, would
suffer from a neurological illness, including a stroke, in 2021. According to
data published in The Lancet Neurology, approximately 3 billion people globally
suffer from a neurological ailment, accounting for more than one in three
cases.
The market is growing as a result of several countries'
advantageous reimbursement policies for neurovascular operations, which lessen
patients' financial burdens and encourage medical professionals to use
cutting-edge equipment. Strict regulatory requirements uphold the safety and
effectiveness of the devices, and the FDA and EMA offer precise criteria for product
approval and use, which fosters market expansion. The market is growing as a
result of rising healthcare expenditures and well-developed, expanding
economies.
MARKET
SEGMENTATION:
· By
Product Type–
·
Aneurysm
Coiling Devices
·
Embolization
Devices
·
Cerebral
Balloon Angioplasty
·
Stenting
Systems
·
Neuro-Thrombectomy
Devices
·
Support
Devices and Others
· By
Application –
·
Ischemic
Stroke
·
Atherosclerosis
·
Hemorrhagic
Strokes
·
Cerebral
Aneurysm
·
Arteriovenous
Malformations
·
Spinal
Stenosis
·
Other Therapeutic
Applications
· By
End-Users-
·
Hospitals
and Surgical Centers
·
Ambulatory
Care Centers and Research
·
Academic
Institutes
· By
Region-
·
North
America
·
Europe
·
Asia
Pacific
·
The
Middle East and Africa
·
South
America
Global Key
Players:
· Stryker
Corporation
· Medtronic
· Terumo
Corporation
· Penumbra
Inc
· Phenox
GmbH
· MicroPort
Scientific Corporation
· Johnson
and Johnson
· Integer
Holdings
· Acandis
GmbH
· NeuroVasc
Technologies, Inc.
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