The global neurointerventional devices market was valued at $2.6 billion in 2022, and is projected to reach $5.3 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032. The neurointerventional devices are medical devices used in the field of neurointerventional radiology. neurointerventional radiology, also known as neurointerventional surgery or endovascular neurosurgery, is a medical specialty that focuses on treating various neurological conditions through minimally invasive procedures. Neurointerventional devices are specialized tools designed to access the blood vessels of the brain and spinal cord to diagnose and treat a wide range of neurological disorders. These devices are used by neurointerventional radiologists and neurosurgeons to perform procedures such as cerebral angiography, embolization, thrombectomy, and stenting.
The neurointerventional devices market is driven by Increase in prevalence of neurological and disorders, rise in preference towards minimally invasive procedures, and rise in awareness of neurological disorders among general population. Neurological disorders are on the rise globally. These devices play a crucial role in the treatment of conditions such as ischemic and hemorrhagic stroke, cerebral aneurysms, arteriovenous malformations, and other vascular and non-vascular neurological disorders. According to World Stroke Organization, the stroke reached epidemic proportions in 2023. Globally 25% of adults over the age of 25 are expected to have a stroke in their lifetime and over 110 million people in the world have already experienced stroke. Epidemic proportions refers to an Increase in the number of cases of a disease above what is normally expected in that population in that area. According to the World Stroke Organization, around 12.2 million people were predicted to have their first stroke in the year 2023, globally. Furthermore, according to a 2023 study by National Library of Medicines, around 3.2% of population is affected by cerebral aneurysms, globally.
Neurointerventional devices play a crucial role in the diagnosis and treatment of neurovascular conditions. For example, catheters and imaging systems are used during cerebral angiography to visualize blood vessels and detect abnormalities. Embolic coils and flow diverters help to treat aneurysms by promoting clotting or redirecting blood flow. Thus, rise in Incidence of neurological disorders surge the demand for neurointerventional procedures and devices and propel the growth of the market. Furthermore, Increase in preference towards minimally invasive procedures is shaping the growth of the neurointerventional devices market. Minimally invasive procedures have revolutionized the field of neurointerventional by offering several advantages over traditional open surgeries such as reduced invasiveness, shorter hospital stays, faster recovery, improved precision and outcomes, and lower risk of complications. Due to the advantage such as lower risk and faster recovery, there has been a spike in patient preference towards the minimally invasive procedures.
A study performed by the National Library of Medicine, in 2020, reported that the preference of patients toward minimally invasive treatments raised by 36% over the last 16 years. Minimally invasive procedures involve accessing the affected area through small Incisions, often guided by imaging techniques such as fluoroscopy or angiography. Neurointerventional devices enable physicians to navigate complex blood vessels and deliver treatments precisely. Catheters, guidewires, and balloons are used in thrombectomy procedure in patient diagnosed with stroke, which helps to remove the blood clots in brain.
In addition, stents and flow diverters are also used to help restore blood flow in blocked or weakened vessels. Thus, the minimally invasive procedures have emerged as more efficient in terms of faster recovery of patient, lower risk management, and improved precision and outcomes, as compared to the traditional surgical methods, leading to high adoption of minimally invasive procedures by patients and healthcare professionals, resulting in the growth of the neurointerventional devices market.
In addition, rise in awareness of neurological disorders has emerged as a significant driver for the neurointerventional devices market. Neurological disorders encompass a range of conditions affecting the brain, spinal cord, and peripheral nervous system. Over recent years, rise in Incidence of neurological disorders, advancements in diagnostic techniques, media coverage and advocacy efforts to spread awareness about the neurological disorders, and government initiatives towards treatment support of neurological disorders have led to Increase in public awareness of these disorders.
For instance, The National Policy for Rare Diseases scheme, by government of India, has provision for financial support of up to Rs. 50 lakhs to the patients suffering from any category of the rare diseases and for treatment in the Centre of Excellence (CoE) mentioned in NPRD-2021. Moreover, rise in sedentary lifestyles, unhealthy diets, environmental factors, and aging population, further lead to various neurological disorder and boost the growth of the market. Conditions such as stroke, cerebral aneurysms, and arteriovenous malformations can have severe consequences if not diagnosed and treated promptly. Thus, the need for neurointerventional procedure Increase the demand for neurointerventional device and propel the growth of the market. However, the high cost of neurointerventional devices is expected to restrain the growth of the market. Technological advancements such as robotics and integration of artificial intelligence (AI) in neurointerventional devices offer lucrative growth opportunity for the neurointerventional devices market.
The neurointerventional devices market is segmented on the basis of product, indication, end user, and region. By product type, the market is categorized into catheter, wires, stents, embolic coils, and others. The others Include embolic protection device, and long sheath. By indication, the market is categorized into brain aneurysm, stroke, vascular malformations, and others. The others Include vascular malformations, arteriovenous fistula, and arteriovenous malformation (AVM).
By end user, the market is categorized into hospitals and ambulatory surgical center. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, 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). Major key players that operate in the global neurointerventional devices market are Stryker Corporation, Johnson & Johnson, Medtronic plc, Terumo Corporation, Lepu Medical Technology (Beijing) Co., Ltd, Merit Medical Systems Inc, Balt Group, Integer Holdings Corporation, Penumbra, Inc., and Cook Group Inc.
The neurointerventional devices market is driven by Increase in prevalence of neurological and disorders, rise in preference towards minimally invasive procedures, and rise in awareness of neurological disorders among general population. Neurological disorders are on the rise globally. These devices play a crucial role in the treatment of conditions such as ischemic and hemorrhagic stroke, cerebral aneurysms, arteriovenous malformations, and other vascular and non-vascular neurological disorders. According to World Stroke Organization, the stroke reached epidemic proportions in 2023. Globally 25% of adults over the age of 25 are expected to have a stroke in their lifetime and over 110 million people in the world have already experienced stroke. Epidemic proportions refers to an Increase in the number of cases of a disease above what is normally expected in that population in that area. According to the World Stroke Organization, around 12.2 million people were predicted to have their first stroke in the year 2023, globally. Furthermore, according to a 2023 study by National Library of Medicines, around 3.2% of population is affected by cerebral aneurysms, globally.
Neurointerventional devices play a crucial role in the diagnosis and treatment of neurovascular conditions. For example, catheters and imaging systems are used during cerebral angiography to visualize blood vessels and detect abnormalities. Embolic coils and flow diverters help to treat aneurysms by promoting clotting or redirecting blood flow. Thus, rise in Incidence of neurological disorders surge the demand for neurointerventional procedures and devices and propel the growth of the market. Furthermore, Increase in preference towards minimally invasive procedures is shaping the growth of the neurointerventional devices market. Minimally invasive procedures have revolutionized the field of neurointerventional by offering several advantages over traditional open surgeries such as reduced invasiveness, shorter hospital stays, faster recovery, improved precision and outcomes, and lower risk of complications. Due to the advantage such as lower risk and faster recovery, there has been a spike in patient preference towards the minimally invasive procedures.
A study performed by the National Library of Medicine, in 2020, reported that the preference of patients toward minimally invasive treatments raised by 36% over the last 16 years. Minimally invasive procedures involve accessing the affected area through small Incisions, often guided by imaging techniques such as fluoroscopy or angiography. Neurointerventional devices enable physicians to navigate complex blood vessels and deliver treatments precisely. Catheters, guidewires, and balloons are used in thrombectomy procedure in patient diagnosed with stroke, which helps to remove the blood clots in brain.
In addition, stents and flow diverters are also used to help restore blood flow in blocked or weakened vessels. Thus, the minimally invasive procedures have emerged as more efficient in terms of faster recovery of patient, lower risk management, and improved precision and outcomes, as compared to the traditional surgical methods, leading to high adoption of minimally invasive procedures by patients and healthcare professionals, resulting in the growth of the neurointerventional devices market.
In addition, rise in awareness of neurological disorders has emerged as a significant driver for the neurointerventional devices market. Neurological disorders encompass a range of conditions affecting the brain, spinal cord, and peripheral nervous system. Over recent years, rise in Incidence of neurological disorders, advancements in diagnostic techniques, media coverage and advocacy efforts to spread awareness about the neurological disorders, and government initiatives towards treatment support of neurological disorders have led to Increase in public awareness of these disorders.
For instance, The National Policy for Rare Diseases scheme, by government of India, has provision for financial support of up to Rs. 50 lakhs to the patients suffering from any category of the rare diseases and for treatment in the Centre of Excellence (CoE) mentioned in NPRD-2021. Moreover, rise in sedentary lifestyles, unhealthy diets, environmental factors, and aging population, further lead to various neurological disorder and boost the growth of the market. Conditions such as stroke, cerebral aneurysms, and arteriovenous malformations can have severe consequences if not diagnosed and treated promptly. Thus, the need for neurointerventional procedure Increase the demand for neurointerventional device and propel the growth of the market. However, the high cost of neurointerventional devices is expected to restrain the growth of the market. Technological advancements such as robotics and integration of artificial intelligence (AI) in neurointerventional devices offer lucrative growth opportunity for the neurointerventional devices market.
The neurointerventional devices market is segmented on the basis of product, indication, end user, and region. By product type, the market is categorized into catheter, wires, stents, embolic coils, and others. The others Include embolic protection device, and long sheath. By indication, the market is categorized into brain aneurysm, stroke, vascular malformations, and others. The others Include vascular malformations, arteriovenous fistula, and arteriovenous malformation (AVM).
By end user, the market is categorized into hospitals and ambulatory surgical center. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, 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). Major key players that operate in the global neurointerventional devices market are Stryker Corporation, Johnson & Johnson, Medtronic plc, Terumo Corporation, Lepu Medical Technology (Beijing) Co., Ltd, Merit Medical Systems Inc, Balt Group, Integer Holdings Corporation, Penumbra, Inc., and Cook Group Inc.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the neurointerventional devices market analysis from 2022 to 2032 to identify the prevailing neurointerventional devices market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the neurointerventional devices market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report Includes the analysis of the regional as well as global neurointerventional devices market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product
- Stents
- Embolic Coils
- Catheter
- Wires
- Others
By Indication
- Brain Aneurysm
- Stroke
- Others
By Application
- Hospitals
- Ambulatory Surgical Centers
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- 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
- Balt Group
- Cook Group Inc
- Integer Holdings Corporation
- Johnson & Johnson
- Lepu Medical Technology (Beijing) Co., Ltd
- Medtronic plc
- Merit Medical Systems Inc.
- Penumbra, Inc
- Stryker Corporation.
- Terumo Corporation
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: NEUROINTERVENTIONAL DEVICES MARKET, BY PRODUCT
CHAPTER 5: NEUROINTERVENTIONAL DEVICES MARKET, BY INDICATION
CHAPTER 6: NEUROINTERVENTIONAL DEVICES MARKET, BY APPLICATION
CHAPTER 7: NEUROINTERVENTIONAL DEVICES MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
CHAPTER 9: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to a new report, titled, 'Neurointerventional Devices Market,' The neurointerventional devices market was valued at $2.6 billion in 2022, and is estimated to reach $5.3 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032. Neurointerventional devices are a specialized category of medical devices used in the field of neurointerventional radiology. These devices are designed to diagnose and treat various neurological conditions, particularly those affecting the blood vessels of the brain and spinal cord. Neurointerventional procedures involve minimally invasive techniques that utilize catheters, wires, stents, and other devices to access and treat the affected area. Neurointerventional devices play a crucial role in the management of conditions such as ischemic stroke, hemorrhagic stroke, brain aneurysms, AVMs, and other vascular abnormalities of the central nervous system. These devices have revolutionized the field of neurointerventional radiology by enabling minimally invasive treatments with reduced risks and faster recovery times compared to traditional open surgeriesThe growth of the neurointerventional devices market is fueled by the rise in prevalence of neurological disorders, rise in awareness about neurological disorders and rise in demand for minimal invasive procedures. The neurointerventional devices market has experienced a significant surge in recent years, largely attributed to the alarming rise in the prevalence of neurological disorders such as as ischemic stroke, hemorrhagic stroke, brain aneurysms among others. A hemorrhagic stroke, also known as a cerebral hemorrhage, is a type of stroke that occurs when a blood vessel in the brain ruptures and causes bleeding into the surrounding brain tissue. According to National Library of Medicines, in 2023, it was estimated that hemorrhagic stroke contributes to 10% to 20% of overall strokes annually. Furthermore, the percentage of hemorrhage in stroke is 8-15% in U.S. Neurointerventional devices play a vital role in the treatment of hemorrhagic strokes. Neurointerventional devices are used to achieve two primary objectives, stopping the bleeding and restoring blood flow to the affected area. These objectives are achived by using the coiling system and flow diverter respectively.
Furthermore, rise in demand for minimal invasive procedures is significantly contributing in the growth of the neurointerventional devices market. Growing preference for minimal invasiveness can be attributed to several factors such as reduced tissue trauma, and shorter recovery times for patients. By minimizing the invasiveness of the procedure, patients experience less pain, have fewer post-operative complications, and can typically resume their normal activities sooner. These benefits have made minimally invasive techniques highly attractive to patients seeking neurointerventional treatments.
In addition, technological progress has emerged as a significant opportunity for growth in the neurointerventional devices market, transforming the way neurological disorders are diagnosed and treated. The continuous advancement of technology has resulted in the creation of innovative devices and techniques that offer improved precision, efficiency, and patient outcomes in neurointerventional procedures. The integration of robotics and artificial intelligence (AI) into neurointerventional devices is driving market growth. Furthermore, robotic-assisted systems empower surgeons with enhanced control, stability, and agility during procedures, enabling more accurate and precise interventions. AI algorithms can assist in real-time image analysis, thereby enhancing the efficiency and accuracy of diagnosis and treatment. These technologies enhance the capabilities of neurointerventionalists and contribute to improved patient safety and outcomes. According to a 2021 study published by the Journal of National Library of Medicines, artificial intelligence (AI) can enhance surgeon performance and reduce medical errors during neurosurgery. Additionally, AI can predict patient outcomes, identify potential complications, and monitor data to enhance postoperative care and patient recovery. Machines, algorithms, and AI do not experience mental or physical fatigue and can operate continuously, ensuring a higher level of safety compared to humans.
The neurointerventional devices market is segmented on the basis of product, indication, end user, and region. By product type, the market is categorized into catheter, wires, stents, embolic coils, and others. The others include embolic protection device, and long sheath. By indication, the market is categorized into brain aneurysm, stroke, vascular malformations, and others. The others include vascular malformations, arteriovenous fistula, and arteriovenous malformation (AVM). By end user, the market is categorized into hospitals and ambulatory surgical center. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, 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 key players profiled in the study include Stryker Corporation, Johnson & Johnson, Medtronic plc, Terumo Corporation, Lepu Medical Technology (Beijing) Co., Ltd, Merit Medical Systems Inc, Balt Group, Integer Holdings Corporation, Penumbra, Inc., and Cook Group Inc.
Key Market Insights
- On the basis of product, the catheter segment was highest contributor to the market in 2022.
- On the basis of indication, the strokes segment was highest contributor to the market in 2022.
- On the basis of end user, the hospitals segment dominated the market in terms of revenue in 2022.
- On the basis of region, North America generated the largest revenue in 2022. However, Asia-Pacific is anticipated to grow at the highest CAGR during the forecast period
Companies Mentioned
- Balt Group
- Cook Group Inc
- Integer Holdings Corporation
- Johnson & Johnson
- Lepu Medical Technology (Beijing) Co., Ltd
- Medtronic plc
- Merit Medical Systems Inc.
- Penumbra, Inc
- Stryker Corporation.
- Terumo Corporation
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 | 282 |
| Published | June 2023 |
| Forecast Period | 2022 - 2032 |
| Estimated Market Value ( USD | $ 2.6 billion |
| Forecasted Market Value ( USD | $ 5.3 billion |
| Compound Annual Growth Rate | 7.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
