ISCHEMIC NEUROLOGICAL INTERVENTIONAL MEDICAL DEVICES MARKET ANALYSIS

Ischemic Neurological Interventional Medical Devices MarketSize and Trends

Global ischemic neurological interventional medical devices market is estimated to be valued at US$ 2,212.7 million in 2022 and is expected to exhibit a CAGR of 5.6% over the forecast period (2022-2030).

Figure 1 Global ischemic neurological interventional medical devices Market Share (%), By End User, 2022

Figure 2. Global ischemic neurological interventional medical devices Market Share (%), By Region, 2022

Global ischemic neurological interventional medical devices Market– Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of medical devices, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of devices from one place to another.

The COVID-19 pandemic and lockdown in various countries across the globe has negatively impacted the financial status of businesses across all sectors. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry mainly due to strict lockdown in several regions.

The COVID-19 pandemic has a negative impact on the neurological interventional medical market. For instance, a paper was published by American Heart Association, Inc. in August, 2021, which suggested that patients with ischemic stroke and COVID 19 infection have more severe strokes while patients with vascular risk factors like diabetes, stroke, obesity, and hypertension are at increased risk of mortality and morbidity by COVID 19.

Market- Trends

The increasing focus on research and development by key players in order to strengthen their market presence in the global market is expected to drive growth of the global ischemic neurological interventional medical devices market over the forecast period. For instance, in October 2020, data was published by Centers for Disease Control and Prevention(CDC), according to which 1 in 6 deaths from cardiovascular disease were due to stroke. Every 40 seconds, someone in the United States has a stroke.

The increasing product launch and product approval by key players in order to strengthen their market presence in the global market is expected to drive growth of the global ischemic neurological interventional medical devices market over the forecast period. For instance, in September 2022, VESALIO, LLC., medical device company, announced the Conformitè Europëenne (CE) Mark approval for their new NeVa NET, micro-filtration technology coupled with NeVa’s Drop Zone technology creates a one-of-a-kind stent retriever, used to capture every type of clot and maximize the retention of clot for fast and effective recanalization of ischemic stroke.