Dublin, April 13, 2023 (GLOBE NEWSWIRE) -- The "Neurovascular Devices Market Size, Share & Trends Analysis Report By Device (Neurothrombectomy Devices, Support Devices), By Therapeutic Applications, By Size (0.027", 0.021"), By End-Use, By Region, And Segment Forecast 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global neurovascular devices market size is anticipated to reach USD 4.53 billion by 2030, registering a CAGR of 6.01% from 2023 to 2030.
The rising prevalence of neurological illnesses such as stroke, brain aneurysm, and cerebral artery stenosis is driving growth of the neurovascular devices market. According to the World Stroke Organization (WSO), in 2022, there will be more than 12.2 million new strokes per year.
One in every four adults above the age of 25 will suffer a stroke throughout their lifetime. In addition, nearly 7.6 million new ischemic strokes occur each year. Around 62.0% of all incident strokes worldwide are ischemic strokes, with more than 1.2 million new subarachnoid hemorrhages occurring each year. As a result, the figures show that there is a significant demand for the neurovascular devices, which is driving neurovascular device market expansion.
The rising prevalence of brain aneurysms in both developed and developing countries is driving the introduction of technologically advanced products to the market. Some significant therapeutic techniques for an intracranial aneurysm include surgical clipping, endovascular coiling, and flow diverters. Market participants are constantly working to introduce technologically advanced products to the market.
For instance, in September 2021, Medtronic plc. announced the CE Mark clearance of its radial artery access portfolio, which comprises the Rist 079 Access Radial Guide Catheter and the Access Rist Radial Selective Catheter.
Furthermore, in March 2022, Micro Port Scientific Company announced that its Hyper flex Balloon Catheter has received registration approval from the Japan Pharmaceuticals and Medical Devices Agency (PMDA).
Reduced postoperative discomfort and faster recovery are the factors expanding use of the minimally invasive operations and fueling R&D in this field. Endovascular coiling is a minimally invasive surgery that is frequently suggested by the clinicians for the treatment of cerebral aneurysms.
Hydro Coils (MicroVention, Tustin, California, USA) have permitted the treatment of more complex aneurysmal structures with reduced recurrence rates as compared to bare-platinum coils. As a result, increased demand for the minimally invasive procedures is supporting neurovascular device market expansion.
Neurovascular Devices Market Report Highlights
- In 2022, cerebral embolization and aneurysm coiling devices dominated the neurovascular devices market with a market share of 34.79%. As the prevalence of cerebral artery stenosis rises, major players are introducing more technologically advanced products
- Based on therapeutic application, stroke segment dominated the market in 2022 with a market share of 57.10% due to the increasing prevalence of stroke, globally. The increasing frequency of strokes around the world has resulted in a significant demand for the management of these cases, necessitating the intensive use of neurovascular devices
- Among size, 0.021'' held a majority market share of 27.26% in the year 2022. This is due to 0.021" size products are preferred over others owing to superior flow rates and embolic compatibility
- Among end use, hospitals held a majority market share of 70.97% in the year 2022. Increasing number of patients being admitted to the hospitals due to the surgeries, therapies, and treatments is expected to favor the neurovascular device market. Thus, subsequent increase in number of patients across the globe, launch of technologically advanced products, and favorable reimbursement policies are leading to a growing demand for the hospital treatments
- North America led the market with the maximum revenue share of 26.44% in 2022. Rising demand for the minimally invasive surgeries, and increasing government initiative for improving healthcare infrastructures are among the key factors driving the market growth. In addition, technological advancement and innovation of new noninvasive techniques will create lucrative opportunities for the segment
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $2.84 Billion |
| Forecasted Market Value (USD) by 2030 | $4.53 Billion |
| Compound Annual Growth Rate | 6.0% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Neurovascular Devices Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Parent Market Outlook
3.1.2 Ancillary Market Outlook
3.2 Penetration & Growth Prospect Mapping
3.3 Regulatory Framework
3.4 Market Dynamics
3.4.1 Market Driver Analysis
3.4.1.1 Increasing Prevalence Of Brain Aneurysms
3.4.1.2 Introduction Of Technologically Advanced Products
3.4.1.3 Rising Adoption Of Unhealthy Lifestyles
3.4.1.4 Increasing Number Of Awareness Initiatives Worldwide
3.4.1.5 Increasing Demand For Minimally Invasive Procedures
3.4.2 Market Restraints Analysis
3.4.2.1 Stringent And Complex Regulatory Framework
3.4.2.2 High Cost Of Treatment
Chapter 4 Neurovascular Devices Market: Segment Analysis, By Device, 2018 - 2030 (USD Million and Volume Unit)
4.1 Definition and Scope
4.2 Device Market Share Analysis, 2022 & 2030
4.3 Global Neurovascular Devices Market, by Device, 2018 to 2030
4.4 Market Size & Forecasts and Trend Analyses, 2018 to 2030
4.4.1 Cerebral Embolization And Aneurysm Coiling Devices
4.4.1.2 Embolic Coils
4.4.1.3 Flow Diverters
4.4.1.4 Liquid Embolic Agents
4.4.2 Cerebral Angioplasty And Stenting Sytems
4.4.3 Neurothrombectomy Devices
4.4.3.1 Neurothrombectomy Devices Market, 2018 - 2030 (USD Million And Volume Unit)
4.4.3.2 Clot Retrieval Devices
4.4.3.3 Suction Devices
4.4.3.4 Vascular Snares
4.4.4 Support Devices
4.4.4.1 Support Devices Market, 2018 - 2030 (USD Million And Volume Unit)
4.4.4.2 Micro Catheters
4.4.4.3 Micro Guidewires
4.4.5 Trans Radial Access Devices
Chapter 5 Neurovascular Devices Market: Segment Analysis, By Therapeutic Applications, 2018 - 2030 (USD Million)
5.1 Definition And Scope
5.2 Therapeutic Applications Market Share Analysis, 2022 & 2030
5.3 Global Neurovascular Devices Market, By Therapeutic Applications, 2018 To 2030
5.4 Market Size & Forecasts And Trend Analyses, 2018 To 2030
5.4.1 Stroke
5.4.2 Cerebral Artery Stenosis
5.4.3 Cerebral Aneurysm
5.4.3.2 Aneurysmal Subarachnoid Hemorrhage
5.4.4 Others
Chapter 6 Neurovascular Devices Market: Segment Analysis, By Size, 2018 - 2030 (USD Million)
6.1 Definition and Scope
6.2 Size Market Share Analysis, 2022 & 2030
6.3 Global Neurovascular Devices Market, by Size, 2018 to 2030
6.4 Market Size & Forecasts and Trend Analyses, 2018 to 2030
6.4.1 0.027"
6.4.2 0.021"
6.4.3 0.071"
6.4.4 0.017"
6.4.5 0.019"
6.4.6 0.013"
6.4.7 0.058"
6.4.8 0.068"
Chapter 7 Neurovascular Devices Market: Segment Analysis, By End Use, 2018 - 2030 (USD Million)
7.1 Definition and Scope
7.2 End Use Market Share Analysis, 2022 & 2030
7.3 Global Neurovascular Devices Market, by End Use, 2018 to 2030
7.4 Market Size & Forecasts and Trend Analyses, 2018 to 2030
7.4.1 Hospital
7.4.2 Specialty clinics
7.4.3 Others
Chapter 8 Neurovascular Devices Market: Regional Market Analysis, By Device Type, Therapeutic Application, Size, End Use, 2018 - 2030 (USD Million)
Chapter 9 Neurovascular Devices Market - Competitive Analysis
Companies Mentioned
- Medtronic
- Microport Scientific Corporation
- Penumbra, Inc.
- Stryker
- Johnson and Johnson Services, Inc.
- Microvention Inc.
- Codman Neuro
For more information about this report visit https://www.researchandmarkets.com/r/tn06h0
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