Global Neurovascular Devices Market Report
RA00543
Global Neurovascular Devices Market by Device (Cerebral Embolization & Aneurysm Coiling Devices, Neurothrombectomy Devices, Cerebral Angioplasty & Stenting Systems, Support Devices, and Trans Radial Access Devices), Therapeutic Application (Stroke, Cerebral Artery, Cerebral Aneurysm, and Others), Size (in Inches) (0.027", 0.021", 0.071", 0.017", 0.019", 0.013", 0.058", 0.068", and Others), End User (Hospitals, Specialty Clinics, and Others), and Region (North America, Europe, Asia-Pacific, and LAMEA): Opportunity Analysis and Industry Forecast, 2023-2032
Neurovascular Devices Overview
Neurovascular devices are the medical devices used to identify, treat, or control disorders that impact the blood vessels of the brain and spinal cord. Aneurysms, arteriovenous malformations (AVMs), ischemic strokes, and other vascular problems are among the neurovascular ailments that these devices are used to treat in the fields of neurology and neurosurgery. Diagnostic neurovascular instruments are used to evaluate the brain and spinal cord’s blood vessels. These devices use imaging techniques as digital subtraction angiography (DSA), computed tomography angiography (CTA), and magnetic resonance imaging (MRI). These imaging methods contribute to the identification of neurovascular disorders by evaluating anomalies and making blood vessel structure and flow visible.
Global Neurovascular Devices Market Analysis
The global neurovascular devices market size was $2.9 billion in 2022 and is predicted to grow at a CAGR of 6.1%, by generating a revenue of $5.2 billion by 2032.
COVID-19 Impact on Global Neurovascular Devices Market
The usage of telemedicine for distant patient consultations and follow-ups increased during the COVID-19 pandemic because of the introduction of social distancing policies and limitations on non-essential medical procedures. For patients with neurovascular diseases, neurovascular devices have been used in telemedicine to provide remote diagnosis, monitoring, and therapy planning. This increased use of telemedicine has decreased the danger of viral exposure while ensuring continuity of care for patients.
Moreover, due to limits on non-essential medical treatments during the pandemic, numerous neurovascular procedures were postponed or delayed. There may be a pent-up demand for these procedures once things get better and healthcare systems resume regular operations. Patients who had postponed neurovascular interventions might now decide to proceed with them, which would raise the demand for neurovascular devices.
Increasing Prevalence of Neurovascular Disorders to Drive the Market Growth
The market for neurovascular devices is being significantly influenced by the increased incidence of neurovascular disorders, such as strokes, aneurysms, arteriovenous malformations (AVMs), and other vascular conditions. The burden of neurovascular illnesses is growing, which increases the demand for related equipment. Risk factors for these disorders include sedentary lifestyles, ageing, and risk factors including hypertension and diabetes. Innovation and technological advancements are major market drivers for neurovascular devices. The risk of neurovascular diseases is increased in the ageing population and therefore, the need for neurovascular devices is anticipated to rise as the world’s population ages.
High Cost of Neurovascular Devices to Restrain Market Growth
Costly neurovascular devices can include imaging systems, stents, embolization tools, and catheters. Due to their expensive price, these devices would not be as easily accessible to patients, which could put a strain on healthcare facilities’ resources. This could be a major obstacle, particularly in areas with scarce healthcare services or in healthcare systems with scarce financial resources. To guarantee their effectiveness and safety, neurovascular devices must adhere to strict regulatory standards. For manufacturers, securing regulatory certifications and clearances may be a time-consuming and expensive procedure. The regulatory load may impede innovation by delaying the release of innovative neurovascular devices onto the market.
Telemedicine and Remote Monitoring to Drive Excellent Opportunities
Telemedicine and remote monitoring technology use has risen due to the COVID-19 pandemic. With the use of these technologies, neurovascular disorders can receive follow-up care, patient monitoring, and remote consultations. Access to care can be improved, patient outcomes can be improved, and the scope of neurovascular therapies can be increased by integrating neurovascular devices with telemedicine platforms and establishing remote monitoring capabilities. Expanded market prospects and increasing acceptance may result from the development of novel tools and methods that enable less invasive neurovascular operations.
Global Neurovascular Devices Market Share, by Device, 2022
The cerebral embolization & aneurysm coiling devices sub-segment accounted for the highest market share in 2022. The need for cerebral embolization and aneurysm coiling devices is significantly driven by the increasing prevalence of cerebrovascular diseases, including aneurysms and AVMs. The need for efficient treatment alternatives is fuelled by factors, such as ageing population, changing lifestyles, and greater diagnostic capabilities that boost the detection and diagnosis of many disorders. Patients have access to minimally invasive therapy options such cerebral embolization and aneurysm coiling devices. In these operations, embolic materials or coils are delivered to the afflicted spot via navigating catheters and microcatheters through blood vessels.
Global Neurovascular Devices Market Share, by Therapeutic Application, 2022
The stroke sub-segment accounted for the highest market size in 2022. Endovascular methods are one example of a minimally invasive therapy that has become more popular in the treatment of stroke. These methods eliminate the necessity for open surgery by using catheters put into the arm to access the blocked blood arteries. The demand for neurovascular devices utilized in these treatments, such as catheters, guidewires, and clot recovery devices, is driven by the preference for minimally invasive approaches.
Global Neurovascular Devices Market Share, by Size (in Inches), 2022
The 0.021" sub-segment accounted for the highest market size in 2022. Endovascular procedures have advanced with the creation of 0.021" neurovascular devices that are more compact and flexible. With the aid of these tools, neurointerventionalists can more precisely access and treat complex neurovascular diseases. The number of therapy options available to patients has increased owing to improvements in endovascular procedures, supported by the use of 0.021" inches devices, which have also improved procedural outcomes.
Global Neurovascular Devices Market Share, by End User, 2022
The hospitals sub-segment accounted for the highest market size in 2022. Comprehensive stroke care is a growing area of attention for hospitals, especially those with specialized stroke centres. This covers the accessibility of neurovascular equipment and qualified medical personnel for the diagnosis and treatment of strokes. Hospitals must invest in the essential neurovascular devices to provide prompt and efficient stroke treatment to build comprehensive stroke centres.
Global Neurovascular Devices Market Share, by Region, 2022
The North America neurovascular devices market accounted for the highest market share in 2022. The healthcare system in North America region is highly developed, with cutting-edge hospitals, specialized stroke centres, and extensive networks for stroke care. These facilities draw patients looking for top-notch therapy because they are furnished with cutting-edge neurovascular technology. The widespread adoption and use of neurovascular devices are supported by the healthcare system’s well-established infrastructure.
Competitive Scenario in the Global Neurovascular Devices Market
Product development and geographical expansion are the common strategies followed by the key players functioning in the highly competitive global neurovascular devices market.
Some of the leading players operating in the neurovascular devices market include Medtronic, Johnson and Johnson Services Inc., Penumbra, Inc., Microvention Inc. (Terumo Corporation), Microport Scientific Corporation, Codman Neuro (Integra Lifesciences), and Stryker.
| Aspect | Particulars |
| Historical Market Estimations | 2021 |
| Base Year for Market Estimation | 2022 |
| Forecast Timeline for Market Projection | 2023-2032 |
| Geographical Scope | North America, Europe, Asia-Pacific, and LAMEA |
| Segmentation by Device |
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| Segmentation by Therapeutic Application |
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| Segmentation by Size (in Inches) |
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| Segmentation by End user |
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| Key Companies Profiled |
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Q1. What is the size of the neurovascular devices market?
A. The size of the neurovascular devices market was over $2.9 billion in 2022 and is expected to reach $5.2 billion by 2032.
Q2. Which are the major companies in the neurovascular devices market?
A. Medtronic and Stryker are some of the key players in the global neurovascular devices market.
Q3. Which region, among others, possesses greater investment opportunities in the near future?
A. North America region possesses great investment opportunities for investors to witness the most promising growth in the future.
Q4. What are the strategies opted by the leading players in this market?
A. Product development and geographical expansion are the two key strategies opted by the operating companies in this market.
Q5. Which companies are investing more on R&D practices?
A. Medtronic and Stryker are the companies investing more on R&D activities for developing new products and technologies.
Q6. Which companies are investing more on R&D practices?
A. Medtronic and Stryker are the companies investing more on R&D activities for developing new products and technologies.
Q7. Which companies are investing more on R&D practices?
A. Medtronic and Stryker are the companies investing more on R&D activities for developing new products and technologies.
Q8. Which companies are investing more on R&D practices?
A. Medtronic and Stryker are the companies investing more on R&D activities for developing new products and technologies.
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1. RESEARCH METHODOLOGY
1.1. Desk Research
1.2. Real time insights and validation
1.3. Forecast model
1.4. Assumptions and forecast parameters
1.5. Market size estimation
1.5.1. Top-down approach
1.5.2. Bottom-up approach
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2. REPORT SCOPE
2.1. Market definition
2.2. Key objectives of the study
2.3. Report overview
2.4. Market segmentation
2.5. Overview of the impact of COVID-19 on Global Neurovascular Devices Market
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3. EXECUTIVE SUMMARY
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4. MARKET OVERVIEW
4.1. Introduction
4.2. Growth impact forces
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.3. Market value chain analysis
4.3.1. List of raw material suppliers
4.3.2. List of manufacturers
4.3.3. List of distributors
4.4. Innovation & sustainability matrices
4.4.1. Technology matrix
4.4.2. Regulatory matrix
4.5. Porter’s five forces analysis
4.5.1. Bargaining power of suppliers
4.5.2. Bargaining power of consumers
4.5.3. Threat of substitutes
4.5.4. Threat of new entrants
4.5.5. Competitive rivalry intensity
4.6. PESTLE analysis
4.6.1. Political
4.6.2. Economical
4.6.3. Social
4.6.4. Technological
4.6.5. Environmental
4.7. Impact of COVID-19 on Neurovascular Devices Market
4.7.1. Pre-covid market scenario
4.7.2. Post-covid market scenario
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5. Neurovascular Devices Market, By Product
5.1. Overview
5.2 Aneurysm Coiling & Embolization Devices
5.2.1 Definition, key trends, growth factors, and opportunities
5.2.2 Market size analysis, by region, 2020-2027
5.2.3 Market share analysis, by country, 2020-2027
5.3 Embolic Coils
5.3.1 Definition, key trends, growth factors, and opportunities
5.3.2 Market size analysis, by region, 2020-2027
5.3.3 Market share analysis, by country, 2020-2027
5.4 Bare Detachable Coils
5.4.1 Definition, key trends, growth factors, and opportunities
5.4.2 Market size analysis, by region, 2020-2027
5.4.3 Market share analysis, by country, 2020-2027
5.5 Coated Detachable Coils
5.5.1 Definition, key trends, growth factors, and opportunities
5.5.2 Market size analysis, by region, 2020-2027
5.5.3 Market share analysis, by country, 2020-2027
5.6 Flow Diversion Devices
5.6.1 Definition, key trends, growth factors, and opportunities
5.6.2 Market size analysis, by region, 2020-2027
5.6.3 Market share analysis, by country, 2020-2027
5.7 Liquid Embolic Agents
5.7.1 Definition, key trends, growth factors, and opportunities
5.7.2 Market size analysis, by region, 2020-2027
5.7.3 Market share analysis, by country, 2020-2027
5.8 Cerebral Balloon Angioplasty and Stenting Systems
5.8.1 Definition, key trends, growth factors, and opportunities
5.8.2 Market size analysis, by region, 2020-2027
5.8.3 Market share analysis, by country, 2020-2027
5.9 Carotid Artery Stents
5.9.1 Definition, key trends, growth factors, and opportunities
5.9.2 Market size analysis, by region, 2020-2027
5.9.3 Market share analysis, by country, 2020-2027
5.10 Embolic Protection Systems
5.10.1 Definition, key trends, growth factors, and opportunities
5.10.2 Market size analysis, by region, 2020-2027
5.10.3 Market share analysis, by country, 2020-2027
5.11 Distal Filter Devices
5.11.1 Definition, key trends, growth factors, and opportunities
5.11.2 Market size analysis, by region, 2020-2027
5.11.3 Market share analysis, by country, 2020-2027
5.12 Balloon Occlusion Devices
5.12.1 Definition, key trends, growth factors, and opportunities
5.12.2 Market size analysis, by region, 2020-2027
5.12.3 Market share analysis, by country, 2020-2027
5.13 Support Devices
5.13.1 Definition, key trends, growth factors, and opportunities
5.13.2 Market size analysis, by region, 2020-2027
5.13.3 Market share analysis, by country, 2020-2027
5.14 Microcatheters
5.14.1 Definition, key trends, growth factors, and opportunities
5.14.2 Market size analysis, by region, 2020-2027
5.14.3 Market share analysis, by country, 2020-2027
5.15 Microguidewires
5.15.1 Definition, key trends, growth factors, and opportunities
5.15.2 Market size analysis, by region, 2020-2027
5.15.3 Market share analysis, by country, 2020-2027
5.16 Neurothrombectomy Devices
5.16.1 Definition, key trends, growth factors, and opportunities
5.16.2 Market size analysis, by region, 2020-2027
5.16.3 Market share analysis, by country, 2020-2027
5.17 Clot Retrieval Devices
5.17.1 Definition, key trends, growth factors, and opportunities
5.17.2 Market size analysis, by region, 2020-2027
5.17.3 Market share analysis, by country, 2020-2027
5.18 Suction and Aspiration Devices
5.18.1 Definition, key trends, growth factors, and opportunities
5.18.2 Market size analysis, by region, 2020-2027
5.18.3 Market share analysis, by country, 2020-2027
5.19 Snares
5.19.1 Definition, key trends, growth factors, and opportunities
5.19.2 Market size analysis, by region, 2020-2027
5.19.3 Market share analysis, by country, 2020-2027
5.20 Research Dive Exclusive Insights
5.20.1 Market attractiveness
5.20.2 Competition heatmap
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6. Neurovascular Devices Market, By Disease Pathology
6.1. Overview
6.2 Ischemic Strokes
6.2.1 Definition, key trends, growth factors, and opportunities
6.2.2 Market size analysis, by region, 2020-2027
6.2.3 Market share analysis, by country, 2020-2027
6.3 Cerebral Aneurysms
6.3.1 Definition, key trends, growth factors, and opportunities
6.3.2 Market size analysis, by region, 2020-2027
6.3.3 Market share analysis, by country, 2020-2027
6.4 Arteriovenous Malformation and Fistulas
6.4.1 Definition, key trends, growth factors, and opportunities
6.4.2 Market size analysis, by region, 2020-2027
6.4.3 Market share analysis, by country, 2020-2027
6.5 Other Disease pathology
6.5.1 Definition, key trends, growth factors, and opportunities
6.5.2 Market size analysis, by region, 2020-2027
6.5.3 Market share analysis, by country, 2020-2027
6.6 Research Dive Exclusive Insights
6.6.1 Market attractiveness
6.6.2 Competition heatmap
7. Neurovascular Devices Market, By Region
7.1 North America
7.1.1 U.S
7.1.1.1 Market size analysis, By Product, 2020-2027
7.1.1.2 Market size analysis, By Disease Pathology, 2020-2027
7.1.2 Canada
7.1.2.1 Market size analysis, By Product, 2020-2027
7.1.2.2 Market size analysis, By Disease Pathology, 2020-2027
7.1.3 Mexico
7.1.3.1 Market size analysis, By Product, 2020-2027
7.1.3.2 Market size analysis, By Disease Pathology, 2020-2027
7.1.4 Research Dive Exclusive Insights
7.1.4.1 Market attractiveness
7.1.4.2 Competition heatmap
7.2 Europe
7.2.1 Germany
7.2.1.1 Market size analysis, By Product, 2020-2027
7.2.1.2 Market size analysis, By Disease Pathology, 2020-2027
7.2.2 UK
7.2.2.1 Market size analysis, By Product, 2020-2027
7.2.2.2 Market size analysis, By Disease Pathology, 2020-2027
7.2.3 France
7.2.3.1 Market size analysis, By Product, 2020-2027
7.2.3.2 Market size analysis, By Disease Pathology, 2020-2027
7.2.4 Spain
7.2.4.1 Market size analysis, By Product, 2020-2027
7.2.4.2 Market size analysis, By Disease Pathology, 2020-2027
7.2.5 Italy
7.2.5.1 Market size analysis, By Product, 2020-2027
7.2.5.2 Market size analysis, By Disease Pathology, 2020-2027
7.2.6 Rest of Europe
7.2.6.1 Market size analysis, By Product, 2020-2027
7.2.6.2 Market size analysis, By Disease Pathology, 2020-2027
7.2.7 Research Dive Exclusive Insights
7.2.7.1 Market attractiveness
7.2.7.2 Competition heatmap
7.3 Asia-Pacific
7.3.1 China
7.3.1.1 Market size analysis, By Product, 2020-2027
7.3.1.2 Market size analysis, By Disease Pathology, 2020-2027
7.3.2 Japan
7.3.2.1 Market size analysis, By Product, 2020-2027
7.3.2.2 Market size analysis, By Disease Pathology, 2020-2027
7.3.3 India
7.3.3.1 Market size analysis, By Product, 2020-2027
7.3.3.2 Market size analysis, By Disease Pathology, 2020-2027
7.3.4 Australia
7.3.4.1 Market size analysis, By Product, 2020-2027
7.3.4.2 Market size analysis, By Disease Pathology, 2020-2027
7.3.5 South Korea
7.3.5.1 Market size analysis, By Product, 2020-2027
7.3.5.2 Market size analysis, By Disease Pathology, 2020-2027
7.3.6 Rest of Asia-Pacific
7.3.6.1 Market size analysis, By Product, 2020-2027
7.3.6.2 Market size analysis, By Disease Pathology, 2020-2027
7.3.7 Research Dive Exclusive Insights
7.3.7.1 Market attractiveness
7.3.7.2 Competition heatmap
7.4 LAMEA
7.4.1 Brazil
7.4.1.1 Market size analysis, By Product, 2020-2027
7.4.1.2 Market size analysis, By Disease Pathology, 2020-2027
7.4.2 Saudi Arabia
7.4.2.1 Market size analysis, By Product, 2020-2027
7.4.2.2 Market size analysis, By Disease Pathology, 2020-2027
7.4.3 UAE
7.4.3.1 Market size analysis, By Product, 2020-2027
7.4.3.2 Market size analysis, By Disease Pathology, 2020-2027
7.4.4 South Africa
7.4.4.1 Market size analysis, By Product, 2020-2027
7.4.4.2 Market size analysis, By Disease Pathology, 2020-2027
7.4.5 Rest of LAMEA
7.4.5.1 Market size analysis, By Product, 2020-2027
7.4.5.2 Market size analysis, By Disease Pathology, 2020-2027
7.4.6 Research Dive Exclusive Insights
7.4.6.1 Market attractiveness
7.4.6.2 Competition heatmap
8. Competitive Landscape
8.1 Top winning strategies, 2020-2027
8.1.1 By strategy
8.1.2 By year
8.2 Strategic overview
8.3 Market share analysis, 2020-2027
9. Company Profiles
9.1 Stryker Corporation
9.1.1 Overview
9.1.2 Business segments
9.1.3 Product portfolio
9.1.4 Financial performance
9.1.5 Recent developments
9.1.6 SWOT analysis
9.2 Medtronic plc
9.2.1 Overview
9.2.2 Business segments
9.2.3 Product portfolio
9.2.4 Financial performance
9.2.5 Recent developments
9.2.6 SWOT analysis
9.3 Johnson & Johnson
9.3.1 Overview
9.3.2 Business segments
9.3.3 Product portfolio
9.3.4 Financial performance
9.3.5 Recent developments
9.3.6 SWOT analysis
9.4 Terumo Corporation
9.4.1 Overview
9.4.2 Business segments
9.4.3 Product portfolio
9.4.4 Financial performance
9.4.5 Recent developments
9.4.6 SWOT analysis
9.5 Penumbra, Inc.
9.5.1 Overview
9.5.2 Business segments
9.5.3 Product portfolio
9.5.4 Financial performance
9.5.5 Recent developments
9.5.6 SWOT analysis
9.6 Abbott Laboratories
9.6.1 Overview
9.6.2 Business segments
9.6.3 Product portfolio
9.6.4 Financial performance
9.6.5 Recent developments
9.6.6 SWOT analysis
9.7 Merit Medical Systems, Inc.
9.7.1 Overview
9.7.2 Business segments
9.7.3 Product portfolio
9.7.4 Financial performance
9.7.5 Recent developments
9.7.6 SWOT analysis
9.8 W. L. Gore & Associates, Inc.
9.8.1 Overview
9.8.2 Business segments
9.8.3 Product portfolio
9.8.4 Financial performance
9.8.5 Recent developments
9.8.6 SWOT analysis
9.9 MicroPort Scientific Corporation
9.9.1 Overview
9.9.2 Business segments
9.9.3 Product portfolio
9.9.4 Financial performance
9.9.5 Recent developments
9.9.6 SWOT analysis
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