Global Interventional Neurology Market, by Product Type (Embolic Coils, Stents, Embolic Protection Devices, Flow Diverter Devices, Stent Retrievers, Revascularization Device, Guide Sheaths, Neck Reconstruction Device, Catheters, and Others), by Application (Cerebral Aneurysm, Subarachnoid Hemorrhage (SAH), Ischemic Strokes, Extracranial & Intracranial Atherosclerosis, Head and Neck Tumors, and Others), by Technique (Angioplasty, Coil Embolization, Embolectomy, Stenting, Thrombectomy, and Others), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2,450.6 Million in 2022 and is expected to exhibit a CAGR of 5.3% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
Increased launches of new research and development centers for interventional procedures is expected to drive market growth over the forecast period. For instance, in March 2022, Boston Scientific Corporation, a manufacturer of medical devices used in interventional medical specialties, including interventional radiology, interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, and others, launched a new R & D center in Pune, India. The center would provide expertise to all of the company’s diverse therapy areas, namely interventional cardiology, peripheral interventions, endoscopy, neuromodulation, and others
Global Interventional Neurology Market– Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
The COVID-19 pandemic had a negative effect on the global interventional neurology market, owing to the decreased rates of interventional procedures. For instance, according to an article published by Society of NeuroInterventional Surgery, a survey was carried out to analyze the effect of COVID-19 pandemic on neurointerventional services. According to the results, a decrease in emergency procedures was reported by 69% of participants (52% in ischemic and hemorrhagic stroke, 11% ischemic, and 6% hemorrhagic stroke alone) during the COVID-19 pandemic in 61 countries.
Recent Market Developments:
In October 2020, CERENOVUS, a part of Johnson & Johnson Medical Devices Companies had launched CERENOVUS Stroke Solutions, which includes a suite of three devices, CEREBASE DA Guide Sheath, CERENOVUS Large Bore Catheter, and EMBOTRAP III Revascularization Device, designed to aid physicians in clot removal procedures. The announcement was made during the virtual European Society of Minimally Invasive Neurological Therapy (ESMINT)
Browse 27 Market Data Tables and 31 Figures spread through 156 Pages and in-depth TOC on “Global Interventional Neurology Market”- Forecast to 2030, Global Interventional Neurology Market, by Product Type (Embolic Coils, Stents, Embolic Protection Devices, Flow Diverter Devices, Stent Retrievers, Revascularization Device, Guide Sheaths, Neck Reconstruction Device, Catheters, and Others), by Application (Cerebral Aneurysm, Subarachnoid Hemorrhage (SAH), Ischemic Strokes, Extracranial & Intracranial Atherosclerosis, Head and Neck Tumors, and Others), by Technique (Angioplasty, Coil Embolization, Embolectomy, Stenting, Thrombectomy, and Others), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights of this market, click the following link:
https://www.coherentmarketinsights.com/market-insight/interventional-neurology-market-56
Moreover, increasing efforts to educate people on the causes of stroke and its treatment is expected to drive market growth over the forecast period. For instance, in October 2021, on the occasion of World Stroke Day, Wockhardt Hospitals, Nagpur, India had taken an initiative to start a stroke support group. The group was started with an aim of motivating stroke survivors and spreading awareness about it.
Key Takeaways of the Global Interventional Neurology Market:
- The global interventional neurology market is expected to exhibit a CAGR of 5.3% during the forecast period due to the increasing adoption of strategies such as partnerships by the key players to improve stroke systems of care and treatment. For instance, in November 2021, Allm Inc., dedicated to shaping healthcare and Society of Vascular and Interventional Neurology (SVIN) Mission Thrombectomy 2020+ (MT2020+), a global health campaign, announced a partnership on the EnJoin program. The aim of the program is to advance stroke care in the U.S. and globally. They aim to break down barriers to access, communication, care coordination, and treatment to improve stroke systems of care and enhance lives in the U.S. and worldwide.
- Among end users, the hospital segment is estimated to hold a dominant position in the global interventional neurology market over the forecast period, owing to the increased prevalence of cerebral aneurysms which would cause increased hospital admissions. For instance, according to the Narayana Hrudayalaya Ltd, an Indian chain of multi-speciality hospitals, heart centres, and primary care facilities, in India, around 76,000 to 200,000 cases of cerebral aneurysms are reported each year.
- On the basis of region, North America is estimated to account for the largest market share in the global interventional neurology market over the forecast period, owing to the increasing research and development studies on the interventional neurology devices by the key players in the region. For instance, in March 2022, Synchron, a leading implantable brain computer interface company, announced the results of a study in which four people with amyotrophic lateral sclerosis (ALS) received an implant of the company’s Stentrode device, a small, mesh-like material inserted within a patient’s blood vessel that does not require invasive, open brain surgery. The results demonstrated that the endovascular approach was safe and allowed patients to accomplish daily online tasks without invasive brain surgery.
- Major players operating in the global interventional neurology market include Penumbra, Inc., Medtronic, Stryker, Terumo Corporation, Johnson & Johnson Services, Inc., Boston Scientific Corporation, MicroPort Scientific Corporation, Merit Medical Systems, W. L. Gore & Associates, Inc., Abbott, Cook, and Palex Medical
