The neurothrombectomy devices market was valued at $481.1 million in 2021, and is estimated to reach $1,192.26 million by 2031, growing at a CAGR of 9.5% from 2022 to 2031.
Neurothrombectomy is a surgical procedure in which blood clot is removed from blood vessel. A blood clot in the brain can cause an ischemic stroke, which is caused by an artery to the brain becoming blocked and starving a portion of the brain of oxygen and nutrients. A clot in the brain can further cause a buildup of cellular waste and carbon dioxide because the brain will be unable to clear this waste properly. This can cause the cells around the blockage to die, and the neurons in this portion of the brain to stop working, thus, resulting in damage throughout the body. Neurothrombectomy is used to treat acute ischemic stroke, which is associated with poor outcomes and high health care burden.
The growth of the global neurothrombectomy devices market is majorly driven by surge in incidence of acute ischemic stroke along with the demand for minimally invasive procedures and increase in cases of head injuries due to motor vehicle accidents. In addition, increase in investment in development of neurothrombectomy devices by key players is expected to notably contribute toward the market expansion. For instance, according to the National Center for Health Statistics, every year, more than 795,000 people in the U.S. have a stroke. About 610,000 of these are first or new strokes. In addition, according to the Center for Disease Control and Prevention, approximately 87% of all strokes reported are ischemic stroke. For instance, according to the Southwestern Medical Center, about 795,000 people in the U.S. suffer from a stroke every year. Furthermore, according to the National Center for Biotechnology Information (NCBI), strokes occur more commonly in women than in men
In addition, women who use oral contraceptives may be at an increased risk for blood clotting. Women who have a history of blood clots are over the age of 35 or smoke and continue to use contraceptives have an extremely high risk of developing blood clots. Therefore, increased used of contraceptive pills propels the growth of market. Moreover, increase in awareness about neurothrombectomy devices and surge in cases of inflammation of superficial vein, atherosclerosis, and ischemic stroke require neurothrombectomy as immediate treatment, thus propelling the market growth. In addition, technological advancements; launch of various products; adoption of various strategies among the key players such as acquisition, collaboration, and agreement drive the growth of the global neurothrombectomy devices market. For instance, Acandis GmbH announced that it has received European CE mark approval for its APERIO hybrid thrombectomy device in May 2019. APERIO hybrid thrombectomy device is intended for restoration of the arterial flow in patients diagnosed with ischemic stroke due to large intracranial vascular occlusion.
However, unfavorable reimbursements in emerging countries as well as complications or risks associated with neuro thrombectomy devices are expected to hamper market growth during the forecast period. The market growth of the neurothrombectomy devices is further restrained due to high cost of neurothrombectomy devices. On the contrary, the healthcare business is projected to witness growth due to surge in prevalence of venous thromboembolism, rise in cases of head injuries due to accidents, increase in incidence of ischemic stroke, rise in investments in development of neurothrombectomy devices, and surge in awareness about these devices.
The global neurothrombectomy devices market is segmented into product type, end user, and region. On the basis of product type, the market is classified into clot retrieval devices, aspiration devices, and snares. By end user, it is fragmented into hospitals, specialty clinics, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Acandis GmbH, Boston Scientific Corporation, Medtronic, Microvention Inc., Penumbra Inc., Phenox GmbH, Stryker Corporation, Teleflex, and Vesalio.
Neurothrombectomy is a surgical procedure in which blood clot is removed from blood vessel. A blood clot in the brain can cause an ischemic stroke, which is caused by an artery to the brain becoming blocked and starving a portion of the brain of oxygen and nutrients. A clot in the brain can further cause a buildup of cellular waste and carbon dioxide because the brain will be unable to clear this waste properly. This can cause the cells around the blockage to die, and the neurons in this portion of the brain to stop working, thus, resulting in damage throughout the body. Neurothrombectomy is used to treat acute ischemic stroke, which is associated with poor outcomes and high health care burden.
The growth of the global neurothrombectomy devices market is majorly driven by surge in incidence of acute ischemic stroke along with the demand for minimally invasive procedures and increase in cases of head injuries due to motor vehicle accidents. In addition, increase in investment in development of neurothrombectomy devices by key players is expected to notably contribute toward the market expansion. For instance, according to the National Center for Health Statistics, every year, more than 795,000 people in the U.S. have a stroke. About 610,000 of these are first or new strokes. In addition, according to the Center for Disease Control and Prevention, approximately 87% of all strokes reported are ischemic stroke. For instance, according to the Southwestern Medical Center, about 795,000 people in the U.S. suffer from a stroke every year. Furthermore, according to the National Center for Biotechnology Information (NCBI), strokes occur more commonly in women than in men
In addition, women who use oral contraceptives may be at an increased risk for blood clotting. Women who have a history of blood clots are over the age of 35 or smoke and continue to use contraceptives have an extremely high risk of developing blood clots. Therefore, increased used of contraceptive pills propels the growth of market. Moreover, increase in awareness about neurothrombectomy devices and surge in cases of inflammation of superficial vein, atherosclerosis, and ischemic stroke require neurothrombectomy as immediate treatment, thus propelling the market growth. In addition, technological advancements; launch of various products; adoption of various strategies among the key players such as acquisition, collaboration, and agreement drive the growth of the global neurothrombectomy devices market. For instance, Acandis GmbH announced that it has received European CE mark approval for its APERIO hybrid thrombectomy device in May 2019. APERIO hybrid thrombectomy device is intended for restoration of the arterial flow in patients diagnosed with ischemic stroke due to large intracranial vascular occlusion.
However, unfavorable reimbursements in emerging countries as well as complications or risks associated with neuro thrombectomy devices are expected to hamper market growth during the forecast period. The market growth of the neurothrombectomy devices is further restrained due to high cost of neurothrombectomy devices. On the contrary, the healthcare business is projected to witness growth due to surge in prevalence of venous thromboembolism, rise in cases of head injuries due to accidents, increase in incidence of ischemic stroke, rise in investments in development of neurothrombectomy devices, and surge in awareness about these devices.
The global neurothrombectomy devices market is segmented into product type, end user, and region. On the basis of product type, the market is classified into clot retrieval devices, aspiration devices, and snares. By end user, it is fragmented into hospitals, specialty clinics, and others.
Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, Russia, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
The major players profiled in the report are Acandis GmbH, Boston Scientific Corporation, Medtronic, Microvention Inc., Penumbra Inc., Phenox GmbH, Stryker Corporation, Teleflex, and Vesalio.
KEY BENEFITS FOR STAKEHOLDERS
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the neurothrombectomy devices market to identify the prevailing opportunities.
- This study presents the competitive landscape of the global market to predict the competitive environment across various regions.
- Comprehensive analysis of factors that drive and restrict the market growth is provided.
- Region & country wise analysis is provided to understand the market trends and dynamics.
Key Market Segments
By Product Type
- Clot Retrieval Devices
- Aspiration Devices
- Snares
By End User
- Specialty Clinics
- Hospitals
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- Japan
- China
- Australia
- India
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
- Medtronic
- Stryker Corporation
- Acandis GmbH
- Penumbra Inc.
- Phenox GmbH
- Vesalio
- MicroVention Inc.
- Boston Scientific Corporation
- Teleflex Incorporated
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NEUROTHROMBECTOMY DEVICES MARKET, BY PRODUCT TYPE
CHAPTER 5: NEUROTHROMBECTOMY DEVICES MARKET, BY END USER
CHAPTER 6: NEUROTHROMBECTOMY DEVICES MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Neurothrombectomy devices Market," the neurothrombectomy devices market size was valued at $481.10 million in 2021, and is estimated to reach $1.2 billion by 2031, growing at a CAGR of 9.5% from 2022 to 2031.Neurothrombectomy is an innovative surgical procedure used to remove blood clots from arteries and veins. Blood clots can disrupt the normal flow of blood to a part of the body, causing life-threatening conditions such as pulmonary embolism or an acute stroke. During a thrombectomy procedure, the surgeon inserts a catheter into the patient’s blood vessel to remove the blockage and restore blood flow to the affected area. Depending on the location of the clot and severity of the blockage, immediate treatment is often crucial.
The neurothrombectomy devices market growth is majorly driven by rise in head injuries due to accidents and surge in incidence rate of ischemic strokes & atherosclerosis. In addition, surge in use of body building supplements, steroids, and oral contraceptives among general population exert an extremely high risk of developing blood clots that may lead to growing demand for treatment devices. Globally, the neurothrombectomy devices market is witnessing significant growth due to increase awareness regarding neurothrombectomy devices and surge in incidence of acute ischemic stroke along with the demand for minimally invasive procedures. For instance, according to the National Hospital Care Survey Demonstration Projects, in 2014, 38% of people hospitalized for stroke were less than 65 years old. Moreover, according to the Brain Injury Statistics, about two million head injuries of all types (including skull and facial fractures) occur each year in the U.S. (175 to 200 per 100,000 population). Traumatic brain injuries account for an estimated 34% of all injury deaths in the U.S.Thus, the above mentioned factors are anticipated to fuel the adoption of neurothrombectomy devices. Furthermore, the market is highly competitive in nature, with major players focused on creating awareness regarding the neurothrombectomy devices. Major players in the market host exhibition and seminars to display and promote the use of neurothrombectomy devices for diverse medical applications.
In addition, increase in investments in development of neurothrombectomy devices and adoption of various strategies among key players such as acquisition, collaboration, and agreement foster the market growth. For instance, in April 2022, Wallaby Medical announced that it acquired Phenox GmbH, including Phenox’s Femtos GmbH—a German-based global innovation and technology leader in the neurovascular space—to develop and commercialize neurovascular interventional products for treating stroke.
However, unfavorable reimbursement scenario, risks associated with neurothrombectomy devices, and high cost of neurothrombectomy devices restrain the market growth. The growth of the neurovascular thrombectomy devices market is further hampered due to lack of expert neurosurgeons in emerging countries. On the contrary, surge in healthcare investments in public as well as private sectors, increase in patient population, unmet medical demands in developing economies are anticipated to open new avenues for the expansion of the neurothrombectomy devices market during the forecast period.
By product type, the clot retrieval devices generated maximum revenue in 2021, owing to rise in number of temporary as well as permanent blood clot surgeries. The aspiration devices segment is expected to witness highest CAGR during the forecast period, owing to increase in prevalence of ischemic stroke, significant improvement in clinical outcome with a good safety profile leading to increase in popularity of aspiration devices among healthcare professionals, and rise in awareness regarding neurothrombectomy devices among patients.
On the basis of end user, the hospitals segment generated maximum revenue in 2021, owing to increase in healthcare units, rise in number of patient admissions for surgery of blood clots in neurovascular region, and surge in venous thromboembolism cases. The specialty clinics segment is expected to witness highest CAGR during the forecast period, due to increase in trend experienced in particular treatment and rise in effectiveness of treatment given by specialty clinics.
North America accounted for major neurothrombectomy devices market share in 2021, owing to increase in cases of neurothrombectomy of different organs, robust healthcare infrastructure, presence of key players, and rise healthcare expenditure. However, Asia-Pacific is expected to witness highest CAGR during the forecast period, owing to rise in geriatric population, unmet medical demands, initiatives by government & non-governmental organizations (NGOs) to promote awareness regarding neurothrombectomy devices, and increase in public-private investments in the healthcare sector.
Key Findings of the Study
- The study provides an in-depth analysis of the market and the current neurothrombectomy devices market trends & future estimations to elucidate imminent investment pockets.
- Depending on product type, the clot retrieval devices segment held the largest share in the global neurothrombectomy devices market in 2021; however, the aspiration devices segment is expected to dominant during the forecast period.
- On the basis of end user, the hospitals segment held the largest market share in 2021, whereas the specialty clinic is expected to dominant during the forecast period.
- North America held the largest market share of neurothrombectomy industry in 2021; however, Asia-Pacific is expected to dominate during the forecast period.
Companies Mentioned
- Medtronic
- Stryker Corporation
- Acandis GmbH
- Penumbra Inc.
- Phenox GmbH
- Vesalio
- Microvention Inc.
- Boston Scientific Corporation
- Teleflex Incorporated
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 206 |
| Published | June 2022 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value ( USD | $ 481.1 million |
| Forecasted Market Value ( USD | $ 1192.26 million |
| Compound Annual Growth Rate | 9.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 9 |
