The global Neurovascular Devices/Interventional Neurology Market was valued at USD 2.9 billion in 2021 and it is anticipated to grow up to USD 5.4 billion by 2031, at a CAGR of 6.5% during the forecast period.
Neurovascular devices are used to treat neurological disorders. These include coils, stents, and clips that are used to treat neurovascular disorders such as brain aneurysm. These devices are widely used in the treatment and diagnosis of various types of peripheral and central nervous system disorders and ailments. Various neurovascular illnesses, such as cerebral aneurysms and intracranial atherosclerotic disease, are treated with neurovascular implants.
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Market Trends and Drivers
A rise in the number of neurovascular disorders in the developed countries is expected to boost market growth. An increase in the prevalence of neurological and cerebrovascular conditions such brain aneurysms and ischemic strokes will have a positive impact on market demand. Additionally, the rapidly growing aging population and large population base suffering from ischemic stroke is another major factor driving the market statistics. Another major factor such as rapidly ageing population and large population base suffering from ischemic stroke will drive the industry growth. For instance, according to the American Association of Neurological Surgeons, approximately 700,000 people suffer from stroke each year, with approximately 500,000 of these being first attacks and 200,000 being victims of repeated attacks. Almost a quarter of people who recover from their first stroke will have another within five years. Such a scenario is expected to drive demand for neurovascular devices in the United States.
An ischemic stroke occurs when the blood supply to a part of the brain is cut off. A blood clot that becomes lodged in a narrow blood vessel usually causes the block. The loss of body functions controlled by that area of the brain is caused by the blood clot. To avoid such situations, neurosurgeons employ a variety of neurovascular devices, such as the neurovascular thrombectomy device. This device is useful for removing blood clots that have formed in the neurovascular vessels during an acute ischemic stroke. Such scenarios will drive market trends.
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Global Neurovascular Devices/Interventional Neurology Market Segmentation
By Product
- Embolic Coils
- Carotid Stents
- Intracranial Stents
- Catheters
- Embolic Protection Devices
- Flow Diverters
- Neurothrombectomy Devices
- Intrasaccular Devices
- Balloon Systems
- Stent Retrievers
- Guidewires
- Others
By Process
- Neurothrombectomy Procedure
- Cerebral Angiography Technique
- Carotid Endarterectomy (CEA)
- Stenting
- Microsurgical Clipping
- Coiling
- Flow Diversion
- Others
By Therapeutic Application
- Brain Aneurysm
- Stenosis
- Ischemic Strokes
- Others
By End-use
- Hospitals
- Ambulatory Surgical Centers
- Clinics
- Others
Major Players in the Global Neurovascular Devices/Interventional Neurology Market
The key players in the market Johnson & Johnson (US)Medtronic PLC, Stryker Corporation (US), Terumo Corporation (Japan), , Penumbra, Inc. (US), MicroPort Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation, BALT (France), Perflow Medical, and Phenox GmbH (Germany), among others.
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