NEURO-INTERVENTIONAL DEVICES MARKET ANALYSIS

Neuro-interventional Devices Market, By Product Type (Embolization Coils, Carotid Stents, Intracranial Stents, Neurovascular Thrombectomy, Flow Disruption, Flow Diverters,, Intrasaccular Devices, Liquid Embolic Coils, Balloons, Stent Retrievers), By Technique (Neurothrombectomy Procedure, Cerebral Angiography, Stenting, Coiling Procedures, Flow Disruption), By End User (Hospitals, Clinics, Ambulatory Surgical Centers), By geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Global Neuro-interventional Devices Market– Drivers

Increasing prevalence of stroke: Increasing prevalence of stroke worldwide is expected to drive the market growth over the forecast period. For instance, in October 2022, according to the data published by WHO, there has been a 70% increase in stroke incidence, a 43% increase in stroke mortality, a 102% increase in stroke prevalence, and a 143% increase in disability adjusted life years (DALY) from 1990 to 2019.
Increasing research and development activities: Increasing research and development activities regarding carotid stents by market players is also expected to boost the global neuro-interventional devices market growth over the forecast period. For instance, in July 2021, InspireMD, a medical device company, initiated a multicenter, single-arm, pivotal study to evaluate the safety and efficacy of the cguard carotid stent system, when used to treat symptomatic and asymptomatic carotid artery stenosis in patients undergoing carotid artery stenting. The study is expected to be completed by October 2025.

Global Neuro-interventional Devices Market- Restraint

Product recalls by the manufacturers: Voluntary recalls of the neuro-interventional devices such as embolization devices is expected to hamper growth of the market over forecast period. For instance, in September 2021, Medtronic plc, a global medical device company, recalled pipeline flex embolization devices for risk of delivery system fractures during placement, retrieval, or movement of device.
Counterbalance: The manufacturing companies are expected to standardize the manufacturing and production processes of the medical devices to ensure product quality and stability.