INTERVENTIONAL NEUROLOGY MARKET ANALYSIS

Interventional Neurology Market Size and Trends

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.

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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.