Neurovascular Devices Market Report and Forecast 2023-2031

The global neurovascular devices market attained a value of USD 3.2 billion in 2022, driven by the increase in incidences of neurological disorders such as brain, cerebral aneurysm, strokes, and epilepsy. The market is expected to grow at a CAGR of 7.85% during the forecast period of 2023-2031 to attain a value of USD 6.4 billion by 2031.

Neurovascular Devices: Introduction

Neurovascular devices are specialized medical devices used in the diagnosis, treatment, and management of neurological and vascular conditions affecting the brain and spinal cord. These devices are designed to address various neurovascular disorders, including ischemic and haemorrhagic strokes, aneurysms, arteriovenous malformations (AVMs), and other vascular abnormalities.

The benefits of neurovascular devices include:

• Minimally Invasive Approach: Neurovascular devices enable minimally invasive procedures, reducing the need for open surgeries and associated risks. Minimally invasive interventions involve smaller incisions, shorter recovery times, and reduced post-operative complications, resulting in faster patient recovery and improved overall outcomes
• Precise and Targeted Treatment: Neurovascular devices provide precise and targeted treatment options for neurovascular conditions. These devices can be navigated to the affected areas, allowing for focused interventions, and minimizing damage to surrounding healthy tissue
• Improved Patient Outcomes: The use of neurovascular devices has led to improved patient outcomes in the management of neurovascular disorders. Timely and effective interventions using these devices can restore blood flow, reduce the risk of complications, and improve patient survival rates, functional outcomes, and quality of life
• Expanded Treatment Options: Neurovascular devices have expanded treatment options for neurovascular disorders. They offer alternatives to traditional surgical approaches, allowing for less invasive procedures and providing options for patients who may not be suitable candidates for open surgeries
• Enhanced Diagnostic Capabilities: Neurovascular devices aid in accurate diagnosis and assessment of neurovascular conditions. Advanced imaging systems and diagnostic devices enable healthcare professionals to obtain detailed information about blood vessel abnormalities, aiding in treatment planning and monitoring disease progression

It is important to note that the selection and use of specific neurovascular devices depend on the patient's condition, the expertise of healthcare professionals, and the availability of appropriate infrastructure and resources. Treatment decisions should be made in consultation with specialized neurovascular teams to ensure the most appropriate and effective use of these devices for individual patients.

Neurovascular Devices Market Segmentations

The market can be categorised into product type, disease, end user, and region.

Market Breakup by Product Type

• Aneurysm Coiling and Embolization Devices
• Cerebral Balloon Angioplasty and Stenting Systems
• Support Devices
• Neurothrombectomy Devices
• Other Devices

Market Breakup by Disease

• Ischemic Strokes
• Cerebral Aneurysms
• Arteriovenous Malformation and Fistulas
• Other

Market Breakup by End User

• Hospitals
• Clinics
• Home Healthcare
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Neurovascular Devices Market Overview

The market has witnessed substantial growth and is expected to continue expanding in the coming years. Several factors contribute to the positive market scenario.

One of the primary drivers of market growth is the increasing incidence of neurological disorders and vascular diseases affecting the brain and spinal cord. Conditions such as stroke, aneurysms, arteriovenous malformations (AVMs), and other neurovascular disorders require specialized devices for diagnosis, treatment, and management. The rising prevalence of these conditions, coupled with an aging population and lifestyle factors, contributes to the growing demand for neurovascular devices.

Moreover, advancements in technology and minimally invasive procedures have revolutionized the field of neurovascular interventions. Innovative devices such as stents, embolic coils, flow diverters, and catheters offer improved precision, safety, and efficacy in treating neurovascular diseases. These devices enable less invasive approaches, reduced procedure times, and enhanced patient outcomes, leading to increased adoption and market growth.

Furthermore, increasing awareness and initiatives focused on early detection and treatment of neurological conditions have contributed to market expansion. Efforts to improve access to healthcare services, establish comprehensive stroke centres, and promote public education on the signs and symptoms of stroke and other neurovascular diseases have led to greater demand for neurovascular devices.

Key Players in the Global Neurovascular Devices Market

The key features of the market report include patent analysis, grants analysis, clinical trials analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the neurovascular devices market are as follows:

• Johnson & Johnson
• Medtronic Plc
• Stryker Corporation
• Terumo Corporation
• ASAHI INTECC CO
• Penumbra
• ACANDIS GmbH
• Braun Melsungen AG
• INTEGER HOLDINGS CORPORATION
• Microport Scientific CorporatiON
• PHENOX GmbH

*The publisher always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.