Neurovascular Devices Market Report
Neurovascular Devices Market Report
Neurovascular Devices/Interventional Neurology - Global Market Insights, Competitive Landscape, and Market Forecast - 2028
  • Published Date : Apr 2023

  • Pages : 150

  • Delivery Time : 3-5 Business Days

  • Region : Global

Neurovascular Devices Market

Neurovascular Devices Market By Product Type (Cerebral Embolization and Aneurysm Coiling Devices [Embolic Coils, Flow Diversion Devices, and Liquid Embolic Agents], Cerebral Balloon Angioplasty and Stenting Systems [Carotid Artery Stents and Embolic Protection Systems], Neurothrombectomy Devices [Clot Retrievers, Suction Devices, and Vascular Snare], and Support Devices [Micro Catheters and Micro Guidewires]), Application (Stroke, Cerebral Aneurysm, Carotid Artery Stenosis, and Others), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography is projected to expand at a constant CAGR forecast till 2028 due to the rising population suffering from neurological disorders and shifting focus towards developing technologically advanced products

The global Neurovascular Devices market was valued at USD 2.84 billion in 2022, growing at a CAGR of 8.12% during the forecast period from 2023 to 2028, to reach USD 4.53 billion. The demand for neurovascular devices is gaining importance owing to the rising prevalence of the target patient population, increasing demand for minimally invasive neurosurgical procedures, ongoing development of technologically advanced products, and rising R&D investments, among others.

Neurovascular Devices Market Dynamics:

The rising burden of the patient population suffering from neurological disorders such as stroke, cerebral/brain aneurysm, and intracranial stenosis, among others across the globe, is expected to fuel the demand for neurovascular devices as these devices are used to treat various conditions and diseases of the central nervous system using minimally invasive neurosurgical techniques. As per research studies, the worldwide prevalence of cerebral aneurysms is approximately 3.2%, with a mean age of 50. Moreover, according to the statistics of the Brain Aneurysm Foundation 2020, there are almost 500,000 deaths worldwide each year caused by brain aneurysms, and half the victims are younger than 50. Thus, the rising prevalence of the target population is anticipated to raise the demand for neurovascular surgeries thereby increasing the demand for neurovascular devices during the forecasted period.

Neurovascular Devices Market

Furthermore, shifting the focus of key manufacturers to the development of technologically advanced interventional neurology devices is likely to boost the global Neurovascular Devices market. For instance, in July 2020, Stryker received the US FDA approval for its Neuroform Atlas Stent System indicated for use with neurovascular embolization coils in the anterior and posterior circulation of the brain for patients 18 years of age or older with saccular wide-necked brain aneurysms. Also, in April 2020, Cerus Endovascular Ltd., a privately-held medical device company, received CE Mark approval for its 021 Contour Neurovascular System™, compatible with smaller commercially available 021 microcatheters for the treatment of saccular intracranial aneurysms.

Certain factors such as few product recalls, and stringent regulatory approval process is likely to pose a minor hurdle for the growth of the Neurovascular Devices market.

Neurovascular Devices Market Segment Analysis:

Neurovascular Devices Market by Product Type (Cerebral Embolization and Aneurysm Coiling Devices [Embolic Coils, Flow Diversion Devices, and Liquid Embolic Agents], Cerebral Balloon Angioplasty and Stenting Systems [Carotid Artery Stents and Embolic Protection Systems], Neurothrombectomy Devices [Clot Retrievers, Suction Devices, and Vascular Snare], and Support Devices [Micro Catheters and Micro Guidewires]), Application (Stroke, Cerebral Aneurysm, Carotid Artery Stenosis, and Others), End-User (Hospitals, Ambulatory Surgical Centers, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the Neurovascular Devices product segment, the carotid artery stents category is expected to hold a significant market share. This can be attributed to the advantages and applications associated with carotid artery stents.

Carotid artery stents are meant for expanding the interior of the carotid artery to increase blood flow in the areas blocked by plaque formation.

The stent reduces the chances of narrowing of the carotid artery again upon implantation.

For patients who cannot undergo traditional carotid surgery or when there are serious risks associated with the surgery, carotid artery stents are considered suitable alternatives.

It offers a safe, effective, and minimally invasive treatment option for patients with carotid artery disease.

Hence, all the above-mentioned factors are expected to drive the segment growth of the Neurovascular Devices market.

Report Metrics

Details

Study Period

2020 to 2028

Base Year

2022

Forecast Period

2023 to 2028

CAGR

8.12%

Neurovascular Devices Market Size

USD 4.53 billion by 2028

Key Neurovascular Devices Companies

Johnson & Johnson, Medtronic, Stryker, Terumo Corporation, Penumbra, Inc., Microport Scientific Corporation, Kaneka Corp., and others.

North America is expected to dominate the overall Neurovascular Devices Market:

Among all the regions, North America is expected to dominate the overall Neurovascular Devices market during the forecast period. This domination is due to the increasing target patient population, improved reimbursement policies about neurovascular devices, rising government initiatives to modernize & expand healthcare infrastructure, and high adoption of technological advancements owing to the rise in healthcare expenditure by the US government.

As per the latest data published by Brain Aneurysm Foundation, about 30,000 people in the United States suffer from brain aneurysm rupture each year.

Further, the presence of key market players such as Stryker Corporation, Penumbra, Inc., Johnson & Johnson; and Merit medical systems, Inc, among others., strategic product development activities among these companies, and an increase in research and development investment by the manufacturers along with the rise in government initiatives are contributing immensely to the growth of the Neurovascular Devices market in the region. For instance, in February 2020, NeuroVasc Technologies, Inc. announced that it has entered into a strategic partnership with the Wego Group that includes USD 34 million in funding to support the company’s product portfolio development and global clinical trial program. The strategic partnership marks a major step forward for NeuroVasc Technologies in bringing a full neurovascular platform to market. The company’s portfolio of devices is aimed to help neuro interventional physicians more efficiently and effectively treat neurovascular disease.

Hence abovementioned all the factors are responsible for the market growth of neurovascular devices in the region.

Neurovascular Devices Market Key Players:

Some of the key market players operating in the Neurovascular Devices market include Johnson & Johnson, Medtronic, Stryker, Terumo Corporation, Penumbra, Inc., Microport Scientific Corporation, Kaneka Corp., and others.

Recent Developmental Activities in Neurovascular Devices Market:

  • In 2022, Kaneka and Asahi Intecc announced a marketing collaboration for i-ED Coil distribution in the US including marketing material preparation, clinical support, and administration for consignment stock in hospitals. This agreement may also expand to include other product offerings in the future.
  • In September 2020, CERENOVUS, part of Johnson & Johnson Medical Devices Companies launched CERENOVUS Stroke Solutions™, which includes a suite of three devices designed to aid physicians in clot removal procedures.
  • In July 2020, Cerus Endovascular received CE Mark approval for its CerusEndo MC 021 Microcatheter designed to allow physicians to access tortuous neurovasculature and deliver therapeutic devices to intended targets.
  • In July 2020, Rapid Medical received CE Mark for TIGERTRIEVER™ XL designed to safely remove clots from intracranial vessels up to 9mm in diameter.

Key Takes Away from the Neurovascular Devices Market Report Study

  • Market size analysis for current market size (2022), and market forecast for 5 years (2023-2028)
  • Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened for the last 3 years
  • Key companies dominating the Global Neurovascular Devices Market.
  • Various opportunities available for the other competitor in the Neurovascular Devices Market space.
  • What are the top-performing segments in 2022? How these segments will perform in 2028?
  • Which are the top-performing regions and countries in the current market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for Neurovascular Devices market growth in the coming future?

Target Audience who can be benefited from Neurovascular Devices Market Report Study

  • Neurovascular Devices providers
  • Research organizations and consulting companies
  • Neurovascular Devices-related organization, association, forum, and other alliances
  • Government and corporate offices
  • Start-up companies, venture capitalists, and private equity firms
  • Distributors and Traders in Neurovascular Devices
  • Various End-Users who want to know more about the Neurovascular Devices Market and the latest technological developments in the Neurovascular Devices market.

1. Neurovascular Devices Market Report Introduction

2. Neurovascular Devices Market Executive Summary

2.1. Scope of the Study

2.2. Market at Glance

2.3. Competitive Assessment

3. Regulatory Analysis

3.1. The United States

3.2. Europe

3.3. Japan

3.4. China

4. Neurovascular Devices Market Key Factors Analysis

4.1. Neurovascular Devices/Interventional Neurology Market Drivers

4.1.1. Increasing prevalence of neurological disorders

4.1.2. Integration of advanced technology in the product line

4.1.3. Rise in demand for minimally invasive neurovascular surgical procedures

4.1.4. Increasing R&D investment

4.2. Neurovascular Devices/Interventional Neurology Market Restraints and Challenges

4.2.1. Product Recalls

4.2.2. Stringent Regulatory

4.3. Neurovascular Devices/Interventional Neurology Market Opportunities

4.3.1. Growth opportunities in emerging countries

4.3.2. Opportunities in alternative designs for the treatment of Intracranial Aneurysms at branching positions

5. Neurovascular Devices/Interventional Neurology Porter’s Five Forces Analysis

5.1. Bargaining Power of Suppliers

5.2. Bargaining Power of Consumers

5.3. Threat of New Entrants

5.4. Threat of Substitutes

5.5. Competitive Rivalry

6. Neurovascular Devices/Interventional Neurology Market layout

6.1. By Product Type

6.1.1. Cerebral Embolization and Aneurysm Coiling Devices

6.1.1.1. Embolic Coils

6.1.1.2. Flow Diversion Devices

6.1.1.3. Liquid Embolic Agents

6.1.2. Cerebral Balloon Angioplasty and Stenting Systems

6.1.2.1. Carotid Artery Stents

6.1.2.2. Embolic Protection Systems

6.1.3. Neurothrombectomy Devices

6.1.3.1. Clot Retreivers

6.1.3.2. Suction devices

6.1.3.3. Vascular Snare

6.1.4. Support Devices

6.1.4.1. Micro Catheters

6.1.4.2. Micro Guidewires

6.2. By Application

6.2.1. Stroke

6.2.2. Cerebral Aneurysm

6.2.3. Carotid Artery Stenosis

6.2.4. Other Diseases

6.3. By End-User

6.3.1. Hospitals

6.3.2. Ambulatory Surgical Centers

6.3.3. Others

6.4. By Geography

6.4.1. North America Neurovascular Devices Market Size in USD million (2020-2028)

6.4.1.1. United States Neurovascular Devices Market Size in USD million (2020-2028)

6.4.1.2. Canada Neurovascular Devices Market Size in USD million (2020-2028)

6.4.1.3. Mexico Neurovascular Devices Market Size in USD million (2020-2028)

6.4.2. Europe Neurovascular Devices Market Size in USD million (2020-2028)

6.4.2.1. France Neurovascular Devices Market Size in USD million (2020-2028)

6.4.2.2. Germany Neurovascular Devices Market Size in USD million (2020-2028)

6.4.2.3. United Kingdom Neurovascular Devices Market Size in USD million (2020-2028)

6.4.2.4. Italy Neurovascular Devices Market Size in USD million (2020-2028)

6.4.2.5. Spain Neurovascular Devices Market Size in USD million (2020-2028)

6.4.2.6. Rest of Europe Neurovascular Devices Market Size in USD million (2020-2028)

6.4.3. Asia-Pacific Neurovascular Devices Market Size in USD million (2020-2028)

6.4.3.1. China Neurovascular Devices Market Size in USD million (2020-2028)

6.4.3.2. Japan Neurovascular Devices Market Size in USD million (2020-2028)

6.4.3.3. India Neurovascular Devices Market Size in USD million (2020-2028)

6.4.3.4. Australia Neurovascular Devices Market Size in USD million (2020-2028)

6.4.3.5. South Korea Neurovascular Devices Market Size in USD million (2020-2028)

6.4.3.6. Rest of Asia Pacific Neurovascular Devices Market Size in USD million (2020-2028)

6.4.4. Rest of the World (RoW) Neurovascular Devices Market Size in USD million (2020-2028)

6.4.4.1. Middle East Neurovascular Devices Market Size in USD million (2020-2028)

6.4.4.2. Africa Neurovascular Devices Market Size in USD million (2020-2028)

6.4.4.3. South America Neurovascular Devices Market Size in USD million (2020-2028)

7. Neurovascular Devices/Interventional Neurology Company and Product Profiles

7.1. Johnson & Johnson

7.1.1. Company Overview

7.1.2. Company Snapshot

7.1.3. Financial Overview

7.1.4. Product Listing

7.1.5. Entropy

7.2. Medtronic

7.2.1. Company Overview

7.2.2. Company Snapshot

7.2.3. Financial Overview

7.2.4. Product Listing

7.2.5. Entropy

7.3. Stryker

7.3.1. Company Overview

7.3.2. Company Snapshot

7.3.3. Financial Overview

7.3.4. Product Listing

7.3.5. Entropy

7.4. Terumo Corporation

7.4.1. Company Overview

7.4.2. Company Snapshot

7.4.3. Financial Overview

7.4.4. Product Listing

7.4.5. Entropy

7.5. Penumbra, Inc.

7.5.1. Company Overview

7.5.2. Company Snapshot

7.5.3. Financial Overview

7.5.4. Product Listing

7.5.5. Entropy

7.6. Microport Scientific Corporation

7.6.1. Company Overview

7.6.2. Company Snapshot

7.6.3. Financial Overview

7.6.4. Product Listing

7.6.5. Entropy

7.7. Kaneka Corporation

7.7.1. Company Overview

7.7.2. Company Snapshot

7.7.3. Financial Overview

7.7.4. Product Listing

7.7.5. Entropy

7.8. Integer Holdings Corporation

7.8.1. Company Overview

7.8.2. Company Snapshot

7.8.3. Financial Overview

7.8.4. Product Listing

7.8.5. Entropy

7.9. phenox GmbH

7.9.1. Company Overview

7.9.2. Company Snapshot

7.9.3. Financial Overview

7.9.4. Product Listing

7.9.5. Entropy

7.10. Perflow Medical Ltd.

7.10.1. Company Overview

7.10.2. Company Snapshot

7.10.3. Financial Overview

7.10.4. Product Listing

7.10.5. Entropy

7.11. Balt

7.11.1. Company Overview

7.11.2. Company Snapshot

7.11.3. Financial Overview

7.11.4. Product Listing

7.11.5. Entropy

7.12. Rapid Medical

7.12.1. Company Overview

7.12.2. Company Snapshot

7.12.3. Financial Overview

7.12.4. Product Listing

7.12.5. Entropy

7.13. ASAHI INTECC CO., LTD.

7.13.1. Company Overview

7.13.2. Company Snapshot

7.13.3. Financial Overview

7.13.4. Product Listing

7.13.5. Entropy

7.14. Acandis GmbH

7.14.1. Company Overview

7.14.2. Company Snapshot

7.14.3. Financial Overview

7.14.4. Product Listing

7.14.5. Entropy

7.15. Cerus Endovascular Inc.

7.15.1. Company Overview

7.15.2. Company Snapshot

7.15.3. Financial Overview

7.15.4. Product Listing

7.15.5. Entropy

8. KOL Views

9. Project Approach

10. DelveInsight Capabilities

11. About DelveInsight

12. Disclaimer & Contact Us

List of Tables:

    Table 1: Competitive Analysis

    Table 2: Neurovascular Devices Market in Global (2020-2028)

    Table 3: Neurovascular Devices Market in Global by Product Type (2020-2028)

    Table 4: Neurovascular Devices Market in Global by Application (2020-2028)

    Table 5: Neurovascular Devices Market in Global by End-User (2020-2028)

    Table 6: Neurovascular Devices Market in Global by Geography (2020-2028)

    Table 7: Neurovascular Devices Market in North America (2020-2028)

    Table 8: Neurovascular Devices Market in the US (2020-2028)

    Table 9: Neurovascular Devices Market in Canada (2020-2028)

    Table 10: Neurovascular Devices Market in Mexico (2020-2028)

    Table 11: Neurovascular Devices Market in Europe (2020-2028)

    Table 12: Neurovascular Devices Market in France (2020-2028)

    Table 13: Neurovascular Devices Market in Germany (2020-2028)

    Table 14: Neurovascular Devices Market in the UK (2020-2028)

    Table 15: Neurovascular Devices Market in Italy (2020-2028)

    Table 16: Neurovascular Devices Market in Spain (2020-2028)

    Table 17: Neurovascular Devices Market in Rest of Europe (2020-2028)

    Table 18: Neurovascular Devices Market in Asia-Pacific (2020-2028)

    Table 19: Neurovascular Devices Market in China (2020-2028)

    Table 20: Neurovascular Devices Market in Japan (2020-2028)

    Table 21: Neurovascular Devices Market in India (2020-2028)

    Table 22: Neurovascular Devices Market in Australia (2020-2028)

    Table 23: Neurovascular Devices Market in South Korea (2020-2028)

    Table 24: Neurovascular Devices Market in Rest of Asia-Pacific (2020-2028)

    Table 25: Neurovascular Devices Market in the Rest of the World (2020-2028)

    Table 26: Neurovascular Devices Market in the Middle East (2020-2028)

    Table 27: Neurovascular Devices Market in Africa (2020-2028)

  • Table 28: Neurovascular Devices Market in South America (2020-2028)

List of Figures:

  • List of Figures
  • Figure 1: Competitive Analysis

    Figure 2: Neurovascular Devices Market in Global (2020-2028)

    Figure 3: Neurovascular Devices Market in Global by Product Type (2020-2028)

    Figure 4: Neurovascular Devices Market in Global by Application (2020-2028)

    Figure 5: Neurovascular Devices Market in Global by End-User (2020-2028)

    Figure 6: Neurovascular Devices Market in Global by Geography (2020-2028)

    Figure 7: Neurovascular Devices Market in North America (2020-2028)

    Figure 8: Neurovascular Devices Market in the US (2020-2028)

    Figure 9: Neurovascular Devices Market Analysis in Canada (2020-2028)

    Figure 10: Neurovascular Devices Market in Mexico (2020-2028)

    Figure 11: Neurovascular Devices Market in Europe (2020-2028)

    Figure 12: Neurovascular Devices Market in France (2020-2028)

    Figure 13: Neurovascular Devices Market in Germany (2020-2028)

    Figure 14: Neurovascular Devices Market in the UK (2020-2028)

    Figure 15: Neurovascular Devices Market in Italy (2020-2028)

    Figure 16: Neurovascular Devices Market in Spain (2020-2028)

    Figure 17: Neurovascular Devices Market in the Rest of Europe (2020-2028)

    Figure 18: Neurovascular Devices Market in Asia-Pacific (2020-2028)

    Figure 19: Neurovascular Devices Market in China (2020-2028)

    Figure 20: Neurovascular Devices Market in Japan (2020-2028)

    Figure 21: Neurovascular Devices Market in India (2020-2028)

    Figure 22: Neurovascular Devices Market in Australia (2020-2028)

    Figure 23: Neurovascular Devices Market in South Korea (2020-2028)

    Figure 24: Neurovascular Devices Market in the Rest of Asia-Pacific (2020-2028)

    Figure 25: Neurovascular Devices Market in the Rest of the World (2020-2028)

    Figure 26: Neurovascular Devices Market in the Middle East (2020-2028)

    Figure 27: Neurovascular Devices Market in Africa (2020-2028)

    Figure 28: Neurovascular Devices Market in South America (2020-2028)

    Figure 29: Market Drivers

    Figure 30: Market Barriers

    Figure 31: Market Opportunities

  • Figure 32: PORTER's Five Force Analysis

List of Companies:

    · Johnson & Johnson

    · Medtronic

    · Stryker

    · Terumo Corporation

    · Penumbra, Inc.

    · Microport Scientific Corporation

  • · Kaneka Corp

Frequently Asked Questions

Neurovascular Devices comprise coils, stents, clot-retrieval devices, and other similar devices used for the treatment of neurovascular disorders such as brain aneurysms or neurovascular thrombectomy.

The Global Neurovascular Devices Market was valued at USD 2.84 billion in 2022, growing at a CAGR of 8.12% during the forecast period from 2023 to 2028, to reach USD 4.53 billion.

The major drivers driving the demand for neurovascular devices are the growing prevalence of neurological disorders across the globe, technological advancement in the product portfolio, and an increase in R&D investments, among others.

Some of the key market players operating in the Neurovascular Devices market include Johnson & Johnson, Medtronic, Stryker, Terumo Corporation, Penumbra, Inc., Microport Scientific Corporation, Kaneka Corp., and others.

North America is projected to dominate the overall Neurovascular Devices market during the forecast period, 2023-2028 owing to the improved reimbursement policies for neurovascular devices, rising government initiatives to modernize & expand healthcare infrastructure, and high adoption of technological advancements owing to the rise in healthcare expenditure by the US government.

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