Interventional Neurology Market Analysis & Forecast: 2024-2031

Interventional Neurology Market Size and Forecast – 2024 to 2031

The Global Interventional Neurology Market is estimated to be valued at USD 2.71 Bn in 2024 and is expected to reach USD 4.01 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

Key Takeaways of the Interventional Neurology Market:

• Based on product type, the embolic protection devices segment is expected to contribute the highest share of the market with 21.7% in 2024.
• Based on application, the cerebral aneurysm segment is expected to contribute the highest share of the market with 32.4% in 2024
• Based on technique, the angioplasty segment is expected to contribute the highest share of the market with 34.2% in 2024.
• North America is expected to top the global market with 35.4% share, followed by Asia Pacific with 27.2% share in 2024.

Market Overview:

Factors such as advancements in technology to develop advanced products, rising healthcare spending, and increasing demand for effective treatment with quick recovery time are expected to provide opportunities for market growth between 2024 and 2031. However, lack of skilled neurointerventional and high cost of treatment and devices may hamper the market growth in the coming years.

Segmental Insights

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Product Type Insights - Rising incidence of cerebral aneurysms drives the demand for embolic protection devices

In terms of product type, the embolic protection devices segment is expected to contribute the highest share of the market with 21.7% in 2024 owing to the increasing prevalence of cerebral aneurysms globally. Embolic protection devices are primarily used during endovascular procedures to treat cerebral aneurysms by trapping blood clots or foreign bodies and preventing them from migrating to other parts of the brain vasculature. The rising risk factors for cerebral aneurysms such as smoking, heavy alcohol use, hypertension, and genetic predispositions have led to a significant rise in aneurysmal subarachnoid hemorrhage incidents.This has expanded the customer base for embolic protection devices and made them a core product in the intervention neurology market. Furthermore, ongoing technological advancements are aiding the development of newer generations of embolic protection devices with improved filter design and delivery systems, thus driving their preference among neurointerventionists.

Application Insights - Cerebral aneurysms dominate application demand due to escalating diagnostic rates

In terms of application, the cerebral aneurysm segment is expected to contribute the highest share of the market with 32.4% in 2024 owing to the rising rate of cerebral aneurysm diagnosis supported by growing healthcare investments and accessibility to advanced neuroimaging modalities. Cerebral aneurysms remain largely asymptomatic until they rupture. However, increased public awareness and screening programs have led to more incidental findings of unruptured cerebral aneurysms during tests conducted for other neurological conditions. In particular, computed tomography (CT) scans and magnetic resonance angiography (MRA) allow for non-invasive visualization and screening of brain vasculature and detection of cerebral aneurysms. This has played a vital role in diagnosing asymptomatic cerebral aneurysms at an earlier stage when endovascular or neurosurgical treatment is more effective and outcome is favorable.

Technique Insights - Angioplasty's minimal invasiveness makes it the leading technique

In terms of technique, the angioplasty segment is expected to contribute the highest share of the market with 34.2% in 2024 owing to its minimally invasive nature. Angioplasty involves inserting a balloon-tipped catheter into the blocked vessel and inflating the balloon to compress the plaque and widen the vessel lumen. Given it does not require placement of foreign implants, angioplasty eliminates risks of device migration, fracture, or malfunction seen with other techniques such as stenting. The technique also enables treating multiple sites of stenosis simultaneously. This has translated to higher preference for angioplasty among neurointerventionists for treating ischemic strokes and intracranial atherosclerosis. Additionally, advancements in microcatheter and balloon design have improved the deliverability, crossing ability, and safety profile of angioplasty devices.

Regional Insights

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North America Interventional Neurology Market Trends

In North America, the dominance in the interventional neurology market with a share of 35.4% in 2024 can be attributed to factors such as the strong presence of leading medical device companies, robust healthcare infrastructure, and supportive government policies that encourage R&D and adoption of advanced medical technologies. Furthermore, the region's favorable reimbursement policies make critical and life-saving neurology procedures more affordable.

Asia Pacific Interventional Neurology Market Trends

The Asia Pacific region exhibits the fastest growth with a share of 27.2% in 2024, driven by growing healthcare expenditure, rising awareness about neurological disorders, and increasing investments by both public and private players to strengthen regional healthcare systems. Rapid economic expansion in countries such as China and India is further facilitating market growth in the region.

Interventional Neurology Market Outlook for Key Countries

U.S. Interventional Neurology Market Trends

The U.S. interventional neurology market continues to hold a significant share due to the large patient population and high prevalence of Parkinson's are expected to drive the market growth. According to a January 2022 update from the Parkinson's Foundation, nearly one million people in the United States were living with Parkinson's disease (PD), a number projected to reach 1.2 million by 2030.

China Interventional Neurology Market Trends

The China interventional neurology market is expanding rapidly due to increasing healthcare expenditure and a growing aging population. The National Health Commission in April 2023, reported a 10% increase in healthcare spending in 2022, which is expected to enhance access to advanced neurology treatments.

India Interventional Neurology Market Trends

India interventional neurology market held a significant share in 2024, driven by its rapidly aging population, leading to increased cases of neurological conditions such as Parkinson’s disease, stroke, and Alzheimer’s. Apollo Hospitals in Chennai, India launched the Apollo Stroke Network on October 31, 2023, to enhance timely intervention in stroke cases. Additionally, advancements in robotics, minimally invasive procedures, AI-powered diagnostics, and personalized medicine are creating new opportunities for innovative neurology devices.

Japan Interventional Neurology Market Trends

Japan interventional neurology market benefits from a high incidence of dementia, Additionally, the World Alzheimer Report released in September 2022 indicates that in Japan, 43% of individuals with mild dementia, 67% with moderate dementia, and 90% with severe dementia reside in institutional settings. This substantial burden of neurological diseases is expected to drive demand for neurology devices, thereby propelling market growth.

Market Players, Key Devlopment, and Competitive Intelligence

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Key Developments:

• In October 2024, the Society of Vascular and Interventional Neurology (SVIN) has excited to announce the publication of a groundbreaking research paper in the American Heart Association Journal.has introduced the Mechanical Thrombectomy Access Score (MTAS), a tool designed to improve global access to mechanical thrombectomy (MT) by addressing stroke care disparities and enhancing treatment in underserved regions.
• In March 2022, Medtronic in india, a global leader in healthcare technology, introduced India's first dedicated registry to gather real-world data on revascularization devices used in patients with acute ischemic stroke (AIS).
• In February 2022, InspireMD, Inc. obtained approval from the United States Food and Drug Administration (FDA) for its Investigational Device Exemption (IDE) supplement application related to the Carotid Revascularization Endarterectomy or Stenting Trial (CREST-2).

Top Strategies Followed by Global Interventional Neurology Market Players

• Established Players: Leading companies prioritize extensive research and development to innovate high-performance products.
  • For instance, in January 2023, Therma Bright Inc. invested in an Israel-based startup, Inretio Inc., which is developing the PREVA mechanical thrombectomy device for ischemic stroke treatment. This investment underscores the commitment to advancing neurovascular technologies.
• Mid-Level Players: Medium-sized companies in the market focus on delivering cost-effective products and solutions. They leverage economies of scale to offer quality products at affordable price points.
  • For example, Stryker provides budget-friendly neurovascular coils and stents targeted towards price-sensitive public hospitals in developing markets.
• Small-Scale Players: Smaller players identify specialized niche areas lacking attention from larger competitors.
  • For instance, MicroVention addresses niche neurointerventional therapies for intracranial aneurysms. Another startup Axon focuses on innovative biosensors for neurovascular monitoring not offered by other established brands. Their targeted approaches help gain foothold in unique market segments.

Emerging Startups – Interventional Neurology Industry Ecosystem

• Innovative Technologies: Startups are developing advanced technologies such as smart sensors and AI solutions. In July 2023, Cerebrotech Medical Systems introduced a non-invasive device equipped with smart sensors to monitor brain fluid levels in real-time, aiding in the early detection of stroke.
• Sustainable Solutions: Several startups are focused on sustainability. NeuronBike creates eco-friendly ischemic stroke rehabilitation equipment from recycled materials. AxoSim utilizes 3D printing and sustainable polymers to provide affordable simulated brains for surgical training. Their solutions help address industry sustainability while expanding access to care.
• Market Contribution: Emerging companies are increasingly targeting underserved market segments to address specific unmet needs. For instance, NervGen focuses exclusively on spinal cord injuries, a niche yet critical therapeutic area, aiming to provide innovative solutions for recovery and repair. Similarly, Inbrain Neuroelectronics is developing advanced brain stimulation devices to treat conditions like treatment-resistant depression, offering novel approaches to mental health management.

Market Report Scope

Market Dynamics

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Interventional Neurology Market Growth Factors - Increasing prevalence of neurological disorders

The global neurological disorder landscape has drastically expanded in recent years. A variety of factors have contributed to a rising prevalence of conditions such as stroke, Alzheimer's disease, Parkinson's disease, epilepsy, and multiple sclerosis among others. As per experts, improved diagnostic capabilities and awareness have enabled more accurate identification and reporting of these previously under diagnosed disorders. For example, data from the British Epilepsy Association released in January 2022, indicates that approximately 600,000 people in the U.K., or about one in every 100 individuals, are living with epilepsy, with 87 new diagnoses daily. This high prevalence of epilepsy has led to a rising demand for interventional neurology devices, further contributing to market expansion.

Interventional Neurology Market Challenge - High cost of interventional neurology devices

One of the key challenges faced by the global interventional neurology market is the high cost of interventional neurology devices. These advanced medical devices such as neurothrombectomy devices, aneurysm coiling devices, interventional neuro-radiology, and support devices are technologically highly complex due their precise application in neurovascular procedures and come with a hefty price tag. The average cost of an interventional stroke procedure is estimated to be around US$ 20,000 making it inaccessible for many patients. Furthermore, the reimbursement rates for these procedures by insurance providers are not always adequate enough to offset the costs for hospitals and clinics.

Interventional Neurology Market Opportunity - Growing demand for minimally invasive procedures

The global interventional neurology market is presented with an opportunity in the growing demand for minimally invasive procedures. Traditionally, brain surgeries were only carried out through invasive methods involving craniotomies which require cutting through skull bones. However, with technological advancements, many complex brain procedures like aneurysm coiling, stroke treatment, and biopsy can now be performed through minimally invasive techniques involving small incisions. These interventional radiology procedures cause less damage to brain tissues and have a shorter recovery time for patients. With increasing awareness, more and more patients are opting for minimally invasive options over conventional surgeries.

Analyst Opinion (Expert Opinion)

• The global interventional neurology market is expected to witness steady growth over the forecast period driven by the rising geriatric population and increasing prevalence of neurological disorders. The market is dominated by North America currently owing to the well-developed healthcare infrastructure and high accessibility to advanced treatment options in the region. Asia Pacific is likely to emerge as the fastest growing market owing to growing healthcare expenditure and improving clinical research landscape in China and India.
• The market players are focusing on developing advanced technologies such as flow diversion devices, liquid embolic agents, and balloon occlusion devices to expand their product portfolios. Furthermore, the minimally invasive nature of interventional neurology procedures over conventional surgery is expected to boost the demand. However, high costs associated with these procedures and lack of skilled neurointerventionists in developing nations may hamper the market growth.
• Rising neurological disease burden due to sedentary lifestyle and changing diets has compelled market players to invest heavily in R&D to develop innovative products. This has enabled improved treatment outcomes. The market is expected to get benefit from ongoing clinical trials evaluating efficacy and safety of various neurointerventional devices. Increasing preference for minimally invasive procedures is expected to create significant growth opportunities for existing as well as new market players in the long run.

Market Segmentation

• By Product Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Embolic Protection Devices
  • Stents
  • Embolic Coils
  • Flow Diverter Devices
  • Stent Retrievers
  • Revascularization Device
  • Guide Sheaths
  • Neck Reconstruction Device
  • Catheters
  • Others
• By Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Cerebral Aneurysm
  • Subarachnoid Hemorrhage (SAH)
  • Ischemic Strokes
  • Extracranial & Intracranial Atherosclerosis
  • Head and Neck Tumors
  • Others
• By Technique Insights (Revenue, USD Bn, 2019 - 2031)
• • Angioplasty
  • Coil Embolization
  • Embolectomy
  • Stenting
  • Thrombectomy
  • Others
• By End User Insights (Revenue, USD Bn, 2019 - 2031)
• • Hospitals
  • Clinics
  • Ambulatory Surgical Centers
  • Others
• Regional Insights (Revenue, USD Bn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
    • Central Africa
• Key Players Insights
• • Boston Scientific Corporation
  • Medtronic
  • Terumo Corporation
  • Penumbra Inc.
  • Johnson & Johnson
  • Merit Medical Systems
  • Stryker Corporation
  • W. L. Gore & Associates
  • B. Braun Melsungen AG
  • Abbott Laboratories
  • MicroPort Scientific Corporation
  • Medikit Co. Ltd.
  • Asahi Intecc Co. Ltd.
  • Cook Medical
  • AngioDynamics