Neurovascular Devices Market Growth

Global Neurovascular Devices Market Growth Expected at CAGR of 7.02%; Revenue to Cross USD 7,011 million by 2035 | Roots Analysis

According to a recently published report by Roots Analysis, the rising prevalence of neurovascular disorders along with the growing adoption of site-specific and minimally invasive neurovascular devices is driving the global neurovascular devices market growth

Global Neurovascular Devices Industry Overview

The global neurovascular devices market size is expected to reach over USD 7,011 million by 2035, growing at a CAGR of 7.02% during the forecast period, till 2035. 

Neurovascular devices are innovative neuro-interventional devices, which are intended to improve disrupted blood circulation to targeted areas of the brain, for the treatment of various neurovascular disorders, such as stroke, aneurysm and stenosis. The neurovascular devices upon minimal invasion, act precisely on the damaged blood vessels without disrupting the normal brain vasculature. As a result, such devices offer a highly specific therapeutic approach with reduced complications, less recovery time and higher success rates. Further, neurovascular devices have demonstrated significant increase in the life expectancy of patients suffering with distinct neurovascular disorders along with the reduction in mortality rates. Owing to these positive outcomes, healthcare providers are increasingly opting for these neuro interventional techniques for effective treatment of neurovascular disorders. This has resulted in increased research and development efforts by neurovascular devices companies to incorporate advanced technologies in this domain. Moreover, the growing preference towards targeted therapies obviates the global neurovascular devices market value to experience a noteworthy increase during the forecast period.

Browse 90+ figures and 95+ market data tables spread across 250+ pages and detailed Table of Content on “Global Neurovascular Devices Market, till 2035 by Type of Device, Therapeutic Application, End User, Key Geographical Regions and Key Leading Players” here: https://www.rootsanalysis.com/reports/neurovascular-devices-market.html

Market Drivers

Several factors are propelling the global neurovascular devices market growth. One of the key factors driving the future of the neurovascular devices market is the growing prevalence of neurovascular disorders. According to the World Health Organization, around 15 million people are reported to have brain stroke each year, globally. This underlines the need for the adoption of advanced and innovative neurovascular devices. Further, neurovascular devices selectively target the disrupted blood vessels and minimize the damage to normal vasculature, thus resulting in lesser side effects and better patient care outcomes.

Market Restraints

While the market is experiencing substantial growth, there are certain challenges which are hindering neurovascular devices market growth. One of the primary restraints is the stringent regulatory guidelines mandated by regulatory bodies, ultimately leading to hinderance in the industry's growth trajectory and investor uncertainty. Additionally, a limited number of neurosurgeons and specialized surgical centers in some of the developing regions has been a major obstacle for the adoption of neurovascular devices. Moreover, the high cost involved in the manufacturing of neurovascular devices limits their affordability among financially challenged patients, thereby creating a hindrance in the overall success of the market.

Growth Factors

Despite the challenges, several factors continue to drive the global neurovascular devices market growth. One notable factor is the rising research and development activities in the domain of neurovascular devices in order to improve the safety and efficacy profile of interventional devices. Further, stakeholders engaged in this domain are incorporating advanced technologies in order to develop next-generation neurovascular devices. Additionally, several large players are strategically investing their capital in acquiring small neurovascular devices companies in order to strengthen their current pipeline of neurovascular devices. Owing to the aforementioned factors, it can be anticipated that the global neurovascular devices market will flourish remarkably in the foreseen future.

Global Neurovascular Devices Market Segments

Based on the type of device, the market is segmented into Neurothrombectomy Devices, Embolization Devices and Angioplasty Devices

• Neurothrombectomy Devices led the global neurovascular devices market, capturing the largest revenue share of more than 50% in the current year.
• Embolization Devices is anticipated to show the highest growth rate of 8.90%, during the forecast period.

Based on the therapeutic application, the market is segmented into Ischemic stroke, Aneurysm, Stenosis and Arteriovenous Malformations (AVMs)

• The neurovascular devices used for ischemic stroke led the global neurovascular devices market, capturing the largest revenue share of over 50% in the current year.
• The neurovascular devices used for aneurysm are anticipated to show the highest growth rate of 9.14% during the forecast period.

Based on the end user, the market is segmented into Hospitals and Specialty Clinics, Ambulatory Care Centres and Other End users

• The Hospitals and Specialty Clinics led the global neurovascular devices market, capturing the largest revenue share of more than 70% in the current year.
• The Ambulatory Care Centres segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of 12.73% during the forecast period.

Based on the Regional Insights, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America

• North America dominated the global neurovascular devices market and accounted for the largest revenue share of around 50% in the current year.
• In Middle East and North Africa, the global neurovascular devices market is anticipated to be the fastest growing segment in this industry, with an annualized rate of 9.98%, during the forecast period.

Key Companies Profiled 

The global neurovascular devices market report also includes detailed profiles of key developers (listed below) that offer neurovascular devices:

• Acandis
• Achieva Medical
• Balt
• HeMo Bioengineering
• Johnson & Johnson 
• Medtronic Inc.
• MicroVention
• Penumbra Inc.
• Phenox
• Shanghai Heartcare Medical Technology
• Stryker Corporation
• Zylox-Tonbridge

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