Global Ischemic Neurological Interventional Medical Devices Market, by Device Type (Neurothrombectomy Device (Aspiration/Suction Catheters, Clot Retriever , Snare-like Devices, Others), Embolization Stents, and Stenting Systems), by Procedure Type (Mechanical Thrombectomy, Carotid Endarterectomy, and Stenting), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) and is expected to exhibit a CAGR of 5.6% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.
The increasing adoption of inorganic growth strategies such as partnerships and agreements by the key players in the market is expected to drive the market growth over the forecast period. For instance, in May 2021, Sense Diagnostics, LLC, a medical technology company focused on improving outcomes for stroke and brain injury patients, announced a strategic collaboration with Inflect Health, the new nationwide, multispecialty investment and innovation hub formed by Vituity, a physician-led-and-owned healthcare delivery organization. Sense Diagnostics, LLC, addressed a critical need identified by its medical co-founders who practice emergency medicine, neurology and neurocritical care.
Global Ischemic Neurological Interventional Medical Devices 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.
However, the COVID-19 pandemic had a significance impact on the ischemic neurological interventional medical devices market, owing to the risk of COVID-19 and the risk of ischemic stroke among the medicare beneficiaries aged 65 and older. For instance, in February 2022, a paper was published by Journal for Clinical Neurology Research, that the risk of ischemic stroke among the geriatric group is 10 times as high during the first 3 days after diagnosis of Covid-19 during the control period and the risk associated with COVID-19 appeared to be stronger among those aged 65–74 years and those without prior history of stroke.
Global Ischemic Neurological Interventional Medical Devices Market: Key Developments
In May 2021, Acandis GmbH., a medical device company, announced that it has received European Conformitè Europëenne (CE) Mark approval for its APERIO Hybrid Thrombectomy Device. This thrombectomy device is used for restoration of arterial flow in patients diagnosed with ischemic stroke due to intracranial occlusion. This device has an effective hybrid cell design for more safety and control.
In June 2022, Assistance Publique – Hôpitaux de Paris, a university hospital in collaboration with Ministry of Health, France, W. L. Gore & Associates, Inc., a global material science company, Abbott, multinational medical devices and health care company, Occlutech International AB Centre, manufacturer of cardiac occlusion devices, and Hospitalier St Anne, a hospital initiated a clinical research for the procedural transcatheter PFO (patent foramen ovale) closure to check the superiority of the PFO closure over antiplatelet therapy.
Browse 30 Market Data Tables and 28 Figures spread through 186 Pages and in-depth TOC on “Global Ischemic Neurological Interventional Medical Devices Market”- Forecast to 2030, Global Ischemic Neurological Interventional Medical Devices Market, by Device Type (Neurothrombectomy Device(Aspiration/Suction Catheters, Clot Retriever, Snare-like Devices, Others), Embolization Stents, and Stenting Systems), by Procedure Type(Mechanical Thrombectomy, Carotid Endarterectomy, and Stenting), by End User (Hospitals, Specialty Clinics, and Ambulatory Surgical Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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Moreover, increasing prevalence of ischemic stroke is expected to drive the market growth over the forecast period. For instance, according to the Centers for Disease Control and Prevention facts sheet published in April 2022, every 40 seconds someone in the U.S. have stroke while, every year, more than 795,000 people in the U.S. have a stroke., and about 87% of all strokes are ischemic stroke.
Key Takeaways of the Global Ischemic Neurological Interventional Medical Devices Market:
- The global ischemic neurological interventional medical devices market is expected to exhibit a CAGR of 5.6% during the forecast period due to the increasing adoption of strategies such as expansion of manufacturing facilities and support launch by the key players for carrying out research activities of neurological interventional medical devices. For instance, in November 2021, Sense Diagnostics, LLC had announced a large scale investment in the expansion of its manufacturing and development sites and delivered important automation benefits to support anticipated demand for the ischemic neurological interventional medical devices.
- Among procedure type, mechanical thrombectomy segment is estimated to hold a dominant position in the global ischemic neurological interventional medical devices market over the forecast period, owing to the advancements and various theoretic advancements. In February 2022, Imperative Care, a medical technology company, announced the launch of its ZOOM POD aspiration tubing, for elevating stroke care. It enables faster time to clot capture during critical mechanical thrombectomy procedures for ischemic stroke patients. The Zoom POD is integrated into the aspiration tubing, shortening the distance from aspiration to filtration while maintaining full aspiration power.
- Among regions, North America is estimated to account for the largest market share in the global ischemic neurological interventional medical devices market over the forecast period, owing to increasing product launch and product approval. For instance, in June 2021, Penumbra, Inc., a global healthcare company focused on innovative therapies, announced the U.S. Food and Drug Administration (FDA) 510(k) clearance and commercial availability of the RED 62 Reperfusion Catheter, the latest addition to the company’s comprehensive Penumbra System. RED 62 is designed to navigate complex distal vessel anatomy and deliver powerful aspiration, together with Penumbra ENGINE, for the removal of blood clots in ischemic stroke patients with large vessel occlusions.
- Major players operating in the global ischemic neurological interventional medical devices market include Stryker, Johnson & Johnson Services Inc., Penumbra, Inc. Medtronic, VESALIO, LLC., Sense Neuro, 880 Medical, LLC., Terumo Corporation., Imperative Care., W. L. Gore & Associate, Inc. , MicroPort Scientific Corporation., KANEKA COPORATION., Integer Holdings Corporation., Wallaby Medical.
