Global Neurovascular Devices
Market Report
2024
Neurovascular devices market was valued at USD 3.42 billion in 2022 and will reach USD 6.42 billion by 2030, registering a CAGR of 5.5% for the forecast period 2023-2030.
The base year for the calculation is 2023 and 2019 to 2023 will be historical period. The year 2024 will be estimated one while the forecasted data will be from year 2025 to 2031. When we deliver the report that time we updated report data till the purchase date.
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The global neurovascular devices market was valued at USD 3.42 billion in 2022 and will reach USD 6.42 billion by 2030, registering a CAGR of 5.5% for the forecast period 2023-2030.
Base Year | 2023 |
Historical Data Time Period | 2019-2023 |
Forecast Period | 2024-2031 |
Global Neurovascular Devices Market Sales Revenue 2022 | $ 3.42 Billion |
Global Neurovascular Devices Market Sales Revenue 2030 | $ 6.42 Billion |
Global Neurovascular Devices Market Compound Annual Growth Rate (CAGR) for 2024 to 2031 | 8.2% |
Market Split by Device Type |
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Market Split by Application/Target Disease |
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Market Split by End-User |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Key Qualitative Information Covered |
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Neurovascular Devices Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Neurovascular devices are used to treat neurovascular diseases such as brain aneurysms. Including stenting systems, embolization devices, and neurothrombectomy devices. A neurovascular disease is a condition that has an impact on the spinal cord or brain's blood flow. Narrowing, hardening, or abnormalities of the blood arteries can all have an impact on blood flow. An obstruction brought on by a clot or embolism. A haemorrhage or bleeding due to a blood vessel rupture.
The rise in the prevalence of neurovascular diseases such as brain/cerebral aneurysms, strokes, and epilepsy among many others is a major driver propelling the market for neurovascular devices. Furthermore, increasing awareness of minimally invasive surgical procedures, strategic collaboration and partnership among manufacturers, technological advancement and development in neurovascular devices are fueling the market growth.
Driving factors:
AVMs, brain aneurysms, carotid artery disease, and intracranial atherosclerotic disease are just a few neurovascular conditions significantly affecting the global population's health and economy. These conditions can also lead to a variety of neurological issues, including subarachnoid hemorrhage, stroke, disability, and even death. Ischemic stroke is the more common type of neurovascular disorder.
According to, American Heart Association, when blood arteries in the brain burst and bleed, ICH strokes happen. They make up about 10% to 15% of the estimated 795,000 strokes that occur in the United States each year, making them the second most prevalent form. In 2020, there were 18.9 million intracerebral hemorrhages worldwide, according to the AHA's most current report on heart and stroke statistics. Compared to other forms of stroke, they are more lethal and more likely to result in long-term impairment.
Furthermore as per the Brain Aneurysm Foundation, In the US, 1 in 50 persons, or approximately 6.7 million people, have an unruptured cerebral aneurysm. Approximately 8 to 10 ruptures per 100,000 persons occur each year. In the United States, a brain aneurysm ruptures in around 30,000 people yearly. Every 18 minutes, a brain aneurysm bursts. Half of the victims of brain aneurysms annual fatalities in the globe are people under the age of 50.
Neurovascular devices used in neurovascular disease treatment have undergone numerous advancements in recent years. The surgical field of neurovascular surgery uses a lot of technology, and many significant improvements in operative neurovascular surgical methods have been made before new technologies. For instance, when performing minimally invasive surgical procedures for neurovascular disorders, the ability to use computer-assisted neurosurgery provides the highest level of precision in planning and execution. Significant advancements in the detection and treatment of neurovascular disease have been accomplished. New technologies are receiving more and more attention from the industry as neurovascular device improvements continue to materialize. Balloon guide catheters, artificial intelligence (AI), virtual augmented reality, and robotic-assisted navigation all have specific advantages
The launch of new products and the increasing interest of competitors in this industry is expected to boost the growth of neurosurgical devices. For instance, in February 2022, Johnson & Johnson (CERENOVUS) Launched EMBOGUARD™ Balloon Guide Catheter to Use in the Treatment of Acute Ischemic Stroke.
Restraining factors:
The cost of procedures for patients increases due to the high cost of neurovascular devices and the significant investment needed for installation. This has caused customers to switch to secondhand systems, which negatively affects their bottom lines. Complex surgeries require advanced techniques and skills, and equipment and surgery costs increase due to maintenance and power supply requirements.
Neurosurgery complications include aneurysm rupture, arterial dissection, stroke, hemorrhage, thromboembolism, and microembolism, and rates of neurologic deficit are higher than diagnostic angiography. The high cost and complications associated with surgeries can decrease the demand for neurovascular devices.
Impact of COVID- 19 pandemic on the neurovascular devices market:
During the COVID-19 pandemic period, all healthcare professionals and patients are affected. COVID-19 influenced the supply chain, product, and service delivery due to the lockdown. The COVID-19 pandemic greatly influenced not just the infected patients but also other people worldwide, particularly in underdeveloped nations and their healthcare systems. Global healthcare systems were significantly damaged by the COVID-19 epidemic.
Due to this circumstance, surgeries had to be postponed to manage and reserve resources, and many hospitals were unable to find qualified staff to help with these operations. A directive from the Indian government instructs medical providers to counsel patients to weigh the advantages and disadvantages of postponing surgery. Owing to the spread of COVID virus government, restrict the supply chain of goods and people therefore the sale of neurovascular devices is decreases. Consequently, the pandemic has harmed market expansion.
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Recent developments:
TeraRecon, a ConcertAI company, has introduced Neuro Suite, an advanced clinical suite powered by artificial intelligence (AI).
TeraRecon from ConcertAI, the market leader in the advanced visualization and clinical AI SaaS categories, has announced the launch of Neuro Suite, an AI-driven clinical suite. The Neuro Suite is intended to integrate across the entire healthcare organization and address challenges that clinicians face when making decisions regarding chronic neurological care. It was specifically created for disease triage, differential diagnostic insights, and care activation in many neurological disease states, including neuro-oncology, dementia, multiple sclerosis, and more.
Stryker launched a state-of-the-art Neurovascular R&D lab with advanced technology to accelerate stroke care innovation
One of the world's top medical equipment manufacturers, Stryker, recently introduced its Neurovascular (NV) lab, a cutting-edge facility created to spur innovation in stroke treatment in the Asia Pacific region. The Keystone Suite, which is a part of the Stryker Global Technology Center (SGTC) in Gurgaon, India, will promote communication between customers, product development engineers, cross-functional teams, and other important stakeholders.
Collaboration between Viz.ai and Vastrax to Speed up Clinical Trial Enrollment
The top full-service vascular clinical research organization (CRO), Vastrax, has announced a strategic relationship with Viz.ai, the pioneer in AI-powered illness identification and intelligent care coordination. Viz.ai and Vastrax will work together to speed up the enrolment in clinical trials for studies on cutting-edge neurovascular therapeutics.
Announced the launch of Medtronic Neurovascular Co-Lab™ Platform to accelerate innovation in stroke treatment
Medtronic plc, a global leader in healthcare technology, announced the launch of the Medtronic Neurovascular Co-Lab Platform, designed to accelerate urgently needed innovation in stroke care and treatment.
Shionogi & Co. Ltd., Shionogi Healthcare & Co. Ltd., and Pixie Dust Technologies Inc. entered into a collaboration agreement.
Shionogi & Co., Ltd., Shionogi Healthcare & Co., Ltd., and Pixie Dust Technologies, Inc. announced their business collaboration agreement to start a company that uses sound stimulation to activate the brain.
Johnson & Johnson (CERENOVUS) Launched EMBOGUARD™ Balloon Guide Catheter to Use in the Treatment of Acute Ischemic Stroke
The launch of EMBOGUARDTM, a new generation balloon guide catheter for use in endovascular treatments, including those for patients with acute ischemic stroke, was announced by CERENOVUS, a growing leader in neurovascular care and a division of Johnson & Johnson Medical Devices Companies. The EMBOGUARD™ Balloon Guide Catheter is designed to optimize the removal of clots by controlling blood flow locally during the mechanical thrombectomy (MT) procedure
Top Companies Market Share in Neurovascular Devices Industry: (In no particular order of Rank)
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North America held the largest revenue market share over the other regions in the global neurovascular devices market:
North America is accounted largest revenue market share compared to the Asian Pacific and Europe. Various factors are the reason for the increasing demand for the neurovascular devices markets in North America such as the rising prevalence of various neurovascular disorders such as ischemic strokes, cerebral aneurysms, arteriovenous malformation, and others in the region. Neurovascular devices play a significant role in the diagnosis of various neurovascular diseases such as ischemic strokes, cerebral aneurysms, and others. The United States has a high number of neurological conditions such as ischemic strokes. Therefore, there is an increasing demand for neurovascular devices for the diagnosis of such diseases. The rising diagnosis and treatment rate for these diseases further encourages the demand for minimally invasive neurovascular devices in the region thus providing a significant opportunity in the market.
The high incidence of neurological disorders rises the demand for accurate diagnosis and plans of efficient and on-time treatment by the healthcare provider. The sector is well known for adopting new technology more quickly to better service the big patient base. North American regions are adopting different strategies, such as acquisitions, partnerships, mergers, partnerships, and strengthening distribution networks to fuel their growth and expansion of the market.
The current report Scope analyzes Neurovascular Devices Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only. To learn more about geographical trends request the free sample pages. Contact US!
Global Neurovascular Devices Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Neurovascular Devices Industry growth. Neurovascular Devices market has been segmented with the help of its Device Type, Application/Target Disease End-User, and others. Neurovascular Devices market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
The neurothrombectomy devices segment accounted for the largest revenue share of the neurovascular devices market:
The type of device segments market into neurothrombectomy devices, neurovascular embolization devices, cerebral balloon angioplasty, stenting systems, support devices, aneurysm coiling, and others. In which neurothrombectomy devices held the largest share of the market.
The Food and Drug Administration (FDA) defines a neurothrombectomy device as one that uses mechanical, laser, ultrasound, or a combination of technologies to remove or dissolve blood clots from the cerebral neuro vasculature. Acute ischemic strokes are linked to poor prognoses and significant medical costs. There is research examining the use of neurothrombectomy tools in individuals undergoing presently advised therapies.
Compared to pharmacologic thrombolysis, neurothrombectomy devices provide many potential benefits, such as faster recanalization, improved effectiveness in treating large-vessel occlusions, and maybe a decreased risk of haemorrhagic complications.
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Ischemic strokes dominated the worldwide neurovascular devices market revenue share:
The market is segmented by application into ischemic strokes, cerebral aneurysms, arteriovenous malformation, and other target diseases. In which ischemic strokes held the largest share of the market.
Ischemic stroke is the more common type of neurovascular disorder. A blood clot that stops or plugs a blood artery in the brain is often the culprit. This prevents the brain from receiving blood flow. Brain cells start to degenerate in minutes. Stenosis, or arterial narrowing, is another factor. When a blood artery that supplies the brain with oxygen and nutrients is blocked, an ischemic stroke is caused. The main cause of ischemic stroke is atherosclerosis, or fatty deposits (plaque) that line the vessel walls. According to CDC, About 87% of all strokes are ischemic strokes, in which blood flow to the brain is blocked. Therefore as the prevalence of ischemic stroke increases, the demand for neurovascular devices increases.
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The hospital segment captures the largest revenue share of the neurovascular devices market:
End users segment the market into hospitals, specialty care centers, ambulatory centers, research laboratories, and academic institutions. In which hospitals held the largest share of the market.
The neurovascular surgery process is used widely in hospitals because of the rising cases of neurovascular disorders and the increasing demand for surgeries. In hospitals, highly qualified healthcare personnel are present to monitor the health condition of patients, together with the availability of various neurovascular surgery devices and medical technology is fueling the expansion of this market. Hospitals also serve a larger patient base and can handle complicated treatments, all of that is contributing to the neurovascular device industry's expansion in this market category.
Research Associate at Cognitive Market Research
Anushka Gore is a seasoned market researcher specializing in the dynamic landscape of the Pharmaceutical industry. With a keen analytical mind and a deep passion for healthcare advancements, she has dedicated herself unraveling the intricate market trends and consumer behaviors that shape the future of medical technologies and services.
Anushka is a highly motivated and detail-oriented research analyst with a passion for uncovering valuable insights from data. Her expertise in Market Research and business intelligence has equipped her with the skills necessary to analyze complex information and provide strategic recommendations. She thrives in dynamic environments where her analytical abilities and research expertise can contribute to informed decision-making for businesses
I played a pivotal role in conducting market research and competitive analysis. I have a demonstrated ability to synthesize diverse data sources, identify trends, and translate findings into actionable recommendations. My collaborative approach facilitated effective communication of insights, fostering a data-driven culture within the organization. I am committed to maintaining excellence through continuous learning and staying ahead of industry trends. Regular participation in conferences and professional development opportunities keeps my skills sharp and relevant.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Neurovascular Devices Market is witnessing significant growth in the near future.
In 2023, the Neurothrombectomy Devices segment accounted for noticeable share of global Neurovascular Devices Market and is projected to experience significant growth in the near future.
The Ischemic Strokes segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Stryker Corporation , Boston Scientific and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Disclaimer:
Device Type | Neurothrombectomy Devices, Neurovascular Embolization Devices, Cerebral Balloon Angioplasty and Stenting Systems, Support Devices, Aneurysm Coiling, Others |
Application/Target Disease | Ischemic Strokes, Cerebral Aneurysms, Arteriovenous Malformation, Other diseases |
End-User | Hospitals, Specialty care centers, Ambulatory centers, Research laboratories, Academic institutions |
List of Competitors | Stryker Corporation, Medtronic, Boston Scientific, Johnson & Johnson, GE HealthCare, DePuy Synthes Companies, MicroPort Scientific Corporation, Acandis GmbH, MicroVention, Inc., NeuroVasc Technologies, Inc., Terumo Corporation, Penumbra Inc. |
This chapter will help you gain GLOBAL Market Analysis of Neurovascular Devices. Further deep in this chapter, you will be able to review Global Neurovascular Devices Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
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Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
Chapter 2 North America Market Analysis
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Qualitative Analysis for the North America Market: North America Neurovascular Devices Market Trends North America Neurovascular Devices Technological Road Map North America Neurovascular Devices Market Drivers North America Neurovascular Devices Market Restraints North America Neurovascular Devices Market Opportunity Market Attractiveness Analysis COVID – 19 Impact Analysis PESTEL Analysis Porter’s Five Forces Analysis Product Life Cycle Industrial Chain Analysis
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Chapter 3 Europe Market Analysis
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Chapter 4 Asia-Pacific Market Analysis
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Chapter 5 South America Market Analysis
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Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis
Competitor's Market Share and Revenue (Subject to Data Availability for Private Players)
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Device Type Analysis 2019 -2031, will provide market size split by Device Type. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Device Type Analysis 2019 -2031
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Chapter 11 Market Split by Application/Target Disease Analysis 2019 -2031
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Chapter 12 Market Split by End-User Analysis 2019 -2031
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Neurovascular Devices market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Neurothrombectomy Devices have a significant impact on Neurovascular Devices market? |
What are the key factors affecting the Neurothrombectomy Devices and Neurovascular Embolization Devices of Neurovascular Devices Market? |
What is the CAGR/Growth Rate of Ischemic Strokes during the forecast period? |
By type, which segment accounted for largest share of the global Neurovascular Devices Market? |
Which region is expected to dominate the global Neurovascular Devices Market within the forecast period? |
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