Neurovascular Embolization Devices Market Opportunities and Strategies to 2033

This report describes and explains the neurovascular embolization devices market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global neurovascular embolization devices market reached a value of nearly $1.2 billion in 2023, having grown at a compound annual growth rate (CAGR) of 3.12% since 2018. The market is expected to grow from $1.2 billion in 2023 to $1.7 billion in 2028 at a rate of 6.34%. The market is then expected to grow at a CAGR of 6.94% from 2028 and reach $2.4 billion in 2033.

Growth in the historic period resulted from the increasing awareness of neurovascular disorders, favorable government initiatives, rising demand for minimally invasive surgeries. Factors that negatively affected growth in the historic period were high prices of neurovascular embolization devices, challenges in neurovascular diagnosis and adoption.

Going forward, rising healthcare expenditure globally, increasing size of elderly population, increasing prevalence of neurovascular diseases, expanding healthcare infrastructure. Factor that could hinder the growth of the neurovascular embolization devices market in the future include shortage of skilled professionals.

The neurovascular embolization devices market is segmented by product into embolization coils, liquid embolic systems, flow diversion stents, aneurysm clips and other products. The embolization coils market was the largest segment of the neurovascular embolization devices market segmented by product, accounting for 69.9% or $869.39 million of the total in 2023. Going forward, the flow diversion stents segment is expected to be the fastest growing segment in the neurovascular embolization devices market segmented by product, at a CAGR of 8.53% during 2023-2028.

The neurovascular embolization devices market is segmented by treatment into ischemic stroke solution and hemorrhagic stroke solutions. The ischemic stroke solution market was the largest segment of the neurovascular embolization devices market segmented by treatment, accounting for 72.38% or $900.05 million of the total in 2023. Going forward, the ischemic stroke solution segment is expected to be the fastest growing segment in the neurovascular embolization devices market segmented by treatment, at a CAGR of 6.41% during 2023-2028.

The neurovascular embolization devices market is segmented by end user into hospitals, ambulatory surgical centers and other end users. The hospitals market was the largest segment of the neurovascular embolization devices market segmented by end user, accounting for 72.51% or $901.66 million of the total in 2023. Going forward, the ambulatory surgical centers segment is expected to be the fastest growing segment in the neurovascular embolization devices market segmented by end user, at a CAGR of 7.04% during 2023-2028.

The neurovascular embolization devices market is segmented by indication into brain aneurysms, arteriovenous malformation and other indications. The brain aneurysms market was the largest segment of the neurovascular embolization devices market segmented by indication, accounting for 57.02% or $708.99 million of the total in 2023. Going forward, the arteriovenous malformation segment is expected to be the fastest growing segment in the neurovascular embolization devices market segmented by indication, at a CAGR of 6.99% during 2023-2028.

North America was the largest region in the neurovascular embolization devices market, accounting for 30.7% or $382.17 million of the total in 2023. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the neurovascular embolization devices market will be Asia Pacific and Africa where growth will be at CAGRs of 8.79% and 8.03% respectively. These will be followed by Middle East and South America where the markets are expected to grow at CAGRs of 7.47% and 6.72% respectively.

The global neurovascular embolization devices market is concentrated, with a few large players operating in the market. The top ten competitors in the market made up to 40.6% of the total market in 2023. The market concentration can be attributed to the presence of large number of players in different geographies. Terumo Corporation was the largest competitor with a 8.02% share of the market, followed by Medtronic Plc with 7.01%, Penumbra Inc with 6.13%, Stryker Corporation with 4.93%, Johnson & Johnson with 4.89%, Cook Medical LLC with 4.83%, Abbott Laboratories with 1.79%, MicroPort with 1.23%, Asahi Intecc Co Ltd. with 0.89% and Boston Scientific Corporation with 0.88%.

The top opportunities in the neurovascular embolization devices market segmented by product will arise in the embolization coils segment, which will gain $316.75 million of global annual sales by 2028. The top opportunities in the neurovascular embolization devices market segmented by treatment will arise in the ischemic stroke solution segment, which will gain $327.73 million of global annual sales by 2028. The top opportunities in the neurovascular embolization devices market segmented by end user will arise in the hospitals segment, which will gain $326.42 million of global annual sales by 2028. The top opportunities in the neurovascular embolization devices market segmented by indication will arise in the brain aneurysms segment, which will gain $250.3 million of global annual sales by 2028. The neurovascular embolization devices market size will gain the most in China at $81.25 million.

Market-trend-based strategies for the neurovascular embolization devices market include focus on launch of innovative low-profile visualized intraluminal support devices, adapot new neurovascular devices for ischemic and hemorrhagic stroke management, deploy innovations in catheter design for complex neurovascular anatomy, and develop advanced embolic system enhances minimally invasive procedures.

Player-adopted strategies in the neurovascular embolization devices market include focus on strengthening market position through new product developments, launches and new project expansions.

To take advantage of the opportunities, the analyst recommends the neurovascular embolization devices companies to focus on innovation in imaging clarity for accurate device placement, focus on expanding product offerings with advanced access devices, focus on innovation in catheter design for complex procedures, focus on streamlining minimally invasive procedures, focus on flow diversion stents segment for rapid growth, expand in emerging markets, continue to focus on developed markets, focus on competitive pricing strategies, focus on targeted marketing campaigns, focus on digital platforms and educational content, continue to use B2B promotions and focus on targeting ambulatory surgical centers.