Global 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, and Stent Retrievers), By Technique (Neurothrombectomy Procedure, Cerebral Angiography, Stenting, Coiling Procedures, and Flow Disruption), By End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$ 2.44 Bn in 2023 and is expected to exhibit a CAGR of 5.0% during the forecast period (2023-2030), as highlighted in a new report published by Coherent Market Insights.
Increasing prevalence of stroke in the regions such as Europe is expected to drive the market growth over the forecast period. For instance, in July 2020, according to American Heart Association, Inc., in the European Union, in 2017, there were 1.12 million incidents of strokes, and 9.53 million stroke survivors. Furthermore, according to the same source, 40,000 incident of strokes (+3%) and 2.58 million prevalent cases are predicted by 2047.
Global Neuro-interventional Devices Market– Impact of Coronavirus (COVID-19) Pandemic
The World Health Organization (WHO) designated the illness caused by the Severe Acute Respiratory Syndrome Coronavirus 2 (SARS-CoV-2), which first appeared in Wuhan (province of Hubei, China), in the last months of 2019, as "coronavirus disease 2019" or COVID-19. The virus spread quickly and had a serious negative impact on the economies, social behaviors, and healthcare of every country in the world.
COVID-19 affected the economy in three main ways: by directly affecting production and demand, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to the lockdown, several countries, such as India, China, Brazil, and others, faced problems with regard to the transportation of things from one place to another.
Thus, COVID-19 had a negative impact on the global neuro-interventional devices market. Neuro-interventional devices are required for stroke and brain aneurysms surgeries, which might be delayed due to the pandemic. Due to the ongoing pandemic, brain surgeries often got delayed or even got cancelled for many patients. According to a study published by National Center for Biotechnology Information, in July 2020, neurosurgical care was impacted by COVID-19. Elective surgical procedures had to be cancelled so that operation theater staffs and operating equipments can be deployed for critical care.
Global Neuro-interventional Devices Market: Key Developments
On August 31, 2023, Rapid Medical, a global medical device company, announced that it had received chinese approval for its TIGERTRIEVER revascularization device.
On July 31, 2023, MicroVention, Inc., a global neurovascular company, announced two different sizes are launched for its WEB Aneurysm Embolisation System and 5-year clinical trial data. WEB is the most researched intrasaccular device on the market as per the published data by the company from its five-year clinical trial.
In June 2022, Stryker, a medical device company, announced a partnership with Carmeda, a U.S.-based medical technology manufacturer. The partnership will combine Stryker’s proven flow diverter technology with Carmeda’s active heparin coating for the treatment of brain aneurysms.
In January 2021, MicroVention, Inc., a global neurovascular company, announced that it had received the U.S. FDA Approval of the PMA (Premarket Approval) sSupplement for the WEB 17 System, a new addition to the WEB Aneurysm Embolization System for the treatment of intracranial wide neck bifurcation aneurysms.
Browse 30 Market Data Tables and 26 Figures spread through 140 Pages and in-depth TOC on “Global Neuro-interventional Devices Market”- Forecast to 2030, Global 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, and Stent Retrievers), By Technique (Neurothrombectomy Procedure, Cerebral Angiography, Stenting, Coiling Procedures, and Flow Disruption), By End User (Hospitals, Clinics, and Ambulatory Surgical Centers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
To know the latest trends and insights prevalent in this market, click the link below:
https://www.coherentmarketinsights.com/market-insight/neurointerventional-devices-market-3200
Key Takeaways of the Global Neuro-interventional Devices Market:
- Global neuro-interventional devices market is expected to exhibit a CAGR of 5% during the forecast period. The merger with emerging economies offers lucrative growth opportunities for players in the global neuro-interventional devices market .
- Among product type, the stent retriever segment is expected to hold a dominant position in the global neuro-interventional devices market during the forecast period due to increasing reseach and development activities. For instance, in August 2023, Suzhou Zenith Vascular Scitech Co., Ltd., a medical device company, announced that it will start a study to evaluate the safety and efficacy of stent-retriever devices for the treatment of acute pulmonary embolism. The study is expected to be completed by January 2025.
- Among region, North America is expected to be the dominant region in the global neuro-interventional devices market, owing to the key players focus on organic strategies to start new product launches
- Major players operating in the global neuro-interventional devices market are Penumbra, Inc., Stryker Corporation, Medtronic PLC., Johnson & Johnson Services, Inc., Terumo Corporation, Insera Therapeutics Inc., Anaconda Biomed S.L., NeuroVasc Technologies, and Perflow Medical Ltd.
