Global Neurovascular Devices Market Growth, Share, Size, Trends and Forecast (2024 - 2030)

The global neurovascular devices market is witnessing significant growth attributed to several factors, including an increase in the prevalence of neurological disorders, advancements in technology, and rising demand for minimally invasive surgical procedures. Neurovascular devices are specialized tools utilized in the treatment of conditions affecting blood vessels and blood supply to the brain, such as aneurysms, arteriovenous malformations (AVMs), and ischemic strokes. These devices play a crucial role in the management of neurovascular diseases by providing targeted therapy and reducing the risk of complications associated with traditional surgical interventions.

One key segment within the neurovascular devices market is the embolization coil segment, which is experiencing robust growth owing to its effectiveness in treating intracranial aneurysms. Embolization coils are used to create blood clots within an aneurysm, preventing further rupture and reducing the risk of hemorrhagic stroke. The development of advanced coil technologies, such as detachable coils and bioactive coils, has further fueled the demand for these devices. Additionally, the growing adoption of minimally invasive endovascular procedures over traditional surgical methods has bolstered the market for embolization coils.

Another significant segment in the neurovascular devices market is the neurothrombectomy devices segment, which is witnessing rapid expansion driven by the increasing incidence of ischemic strokes and the growing adoption of mechanical thrombectomy procedures. Neurothrombectomy devices are used to remove blood clots from cerebral arteries, restoring blood flow to the brain and preventing long-term neurological damage. Technological advancements, such as the development of stent retrievers and aspiration catheters, have significantly improved the efficacy and safety of neurothrombectomy procedures, driving market growth.

The neurovascular stent segment is gaining traction due to the rising prevalence of intracranial atherosclerosis and cerebral aneurysms. Neurovascular stents are utilized to support weakened or narrowed blood vessels in the brain, reducing the risk of vessel collapse and promoting optimal blood flow. The introduction of drug-eluting stents and flow diverters has revolutionized the treatment of complex intracranial vascular lesions, offering better long-term outcomes and reducing the need for repeat interventions. As a result, the neurovascular stent segment is expected to continue expanding, supported by ongoing technological advancements and increasing demand for minimally invasive treatment options in neurovascular disorders.

Global Neurovascular Devices Segment Analysis

In this report, the Global Neurovascular Devices Market has been segmented by Device Type, Applications and Geography.

Global Neurovascular Devices Market, Segmentation by Device Type

The Global Neurovascular Devices Market has been segmented by Device Type into Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices and Support Devices.

Cerebral embolization and aneurysm coiling devices represent a critical aspect of neurovascular intervention. These devices are designed to treat cerebral aneurysms by occluding the abnormal blood vessel using coils or other embolic agents. They are minimally invasive and offer a safer alternative to traditional surgical methods, thereby gaining popularity among both patients and healthcare providers.

Cerebral angioplasty and stenting systems play a crucial role in treating stenosis or narrowing of blood vessels in the brain. These devices help restore blood flow by expanding the narrowed arteries and providing structural support through stents. With a growing incidence of ischemic strokes and other cerebrovascular diseases, the demand for these systems is expected to rise significantly in the coming years.

Neurothrombectomy devices are another important category in the neurovascular market, particularly in the treatment of acute ischemic stroke. These devices are used to remove blood clots from cerebral arteries, restoring blood flow and preventing further brain damage. As stroke continues to be a leading cause of disability and mortality worldwide, the adoption of neurothrombectomy devices is anticipated to increase, supported by technological advancements and clinical evidence.

Support devices encompass a range of products aimed at facilitating neurovascular procedures and improving patient outcomes. This category includes microcatheters, guidewires, and access devices, among others, which are essential for navigating the complex vascular anatomy of the brain and delivering therapeutic agents precisely. As the field of neurointervention evolves, the demand for innovative support devices that enhance procedural efficiency and safety is expected to grow, driving market expansion.

Global Neurovascular Devices Market, Segmentation by Applications

The Global Neurovascular Devices Market has been segmented by Applications into Stroke, Cerebral Artery Stenosis, Cerebral Aneurysm and Others.

One of the primary applications driving this market is stroke management. Stroke is a leading cause of disability and mortality worldwide, and neurovascular devices play a crucial role in both the acute treatment and long-term management of stroke patients. These devices include clot retrieval devices, stent retrievers, and other tools used in thrombectomy procedures to remove blood clots from blocked vessels, restoring blood flow to the brain and minimizing neurological damage.

Cerebral artery stenosis, or the narrowing of arteries in the brain, is another key application area for neurovascular devices. Stenosis can lead to reduced blood flow to the brain, increasing the risk of stroke and other neurological complications. Neurovascular devices used in the management of cerebral artery stenosis include stents and angioplasty balloons, which are used to widen narrowed arteries and improve blood flow.

Cerebral aneurysms, abnormal bulges or ballooning in the walls of brain arteries, represent another significant application segment for neurovascular devices. Aneurysms pose a risk of rupture, which can lead to life-threatening bleeding in the brain. Neurovascular devices such as coils, flow diverters, and stents are used in the treatment of cerebral aneurysms to prevent rupture and reduce the risk of complications. These devices are often deployed via minimally invasive procedures such as endovascular coiling or stent-assisted coiling.

Neurovascular devices find applications in various other neurological conditions and procedures. These may include arteriovenous malformations (AVMs), intracranial atherosclerosis, and vasospasm management, among others. The ongoing innovation in neurovascular technologies, coupled with increasing awareness about neurological disorders and advancements in minimally invasive treatment approaches, is expected to drive further growth in the global neurovascular devices market across all application segments.

Global Neurovascular Devices Market, Segmentation by Geography

In this report, the Global Neurovascular Devices Market has been segmented by Geography into five regions; North America, Europe, Asia Pacific, Middle East and Africa and Latin America.

Global Neurovascular Devices Market Share (%), by Geographical Region, 2023

North America holds a prominent share in the global neurovascular devices market, owing to factors such as the presence of well-established healthcare infrastructure, high healthcare expenditure, and a large patient pool suffering from neurovascular disorders. Additionally, the region boasts extensive research and development activities, leading to the introduction of innovative neurovascular devices.

Europe follows North America closely in market share, fueled by the rising geriatric population prone to neurovascular diseases and the presence of key market players in the region. Countries like Germany, France, and the UK are witnessing significant growth in the neurovascular devices market due to the increasing adoption of minimally invasive procedures and favorable reimbursement policies.

The Asia Pacific region is emerging as a lucrative market for neurovascular devices, attributed to rapid urbanization, improving healthcare infrastructure, and a growing awareness regarding neurovascular diseases. Countries like China, Japan, and India are witnessing substantial investments in healthcare, driving market growth.

The Middle East and Africa, along with Latin America, are also witnessing a rise in demand for neurovascular devices, albeit at a slower pace compared to other regions. Factors such as improving healthcare facilities, rising disposable incomes, and increasing awareness about advanced treatment options are contributing to market growth in these regions.

This report provides an in depth analysis of various factors that impact the dynamics of Global Neurovascular Devices Market. These factors include; Market Drivers, Restraints and Opportunities Analysis.

Drivers

• Aging population
• Technological advancements
• Increasing prevalence of neurological disorders

• Growing demand for minimally invasive procedures: The global neurovascular devices market has been witnessing significant growth, driven largely by the increasing demand for minimally invasive procedures. Minimally invasive techniques offer several advantages over traditional open surgeries, including reduced risk of complications, shorter hospital stays, quicker recovery times, and minimal scarring. These benefits have fueled the adoption of neurovascular devices in the treatment of various neurological disorders, such as aneurysms, arteriovenous malformations (AVMs), and ischemic and hemorrhagic strokes.

  Technological advancements in neurovascular devices have further propelled market growth. Innovations such as stent retrievers, flow diverters, and embolic coils have improved treatment outcomes and expanded the scope of minimally invasive procedures for neurovascular conditions. These devices enable neurosurgeons and interventional radiologists to precisely navigate and treat complex vascular lesions within the brain and spinal cord, leading to better patient outcomes and enhanced quality of life.

  The rising prevalence of neurological disorders, coupled with an aging population, has contributed to the increasing demand for neurovascular devices globally. According to the World Health Organization (WHO), neurological disorders affect millions of people worldwide, leading to a significant burden on healthcare systems. As a result, there is a growing emphasis on early detection and intervention, driving the adoption of neurovascular devices for both diagnostic and therapeutic purposes. With ongoing research and development efforts focused on improving device efficacy and safety profiles, the neurovascular devices market is poised for continued growth in the coming years.

Restraints

• Stringent regulatory requirements
• High cost of neurovascular devices
• Limited access to healthcare facilities

• Risk of complications and adverse events: The global neurovascular devices market has witnessed significant growth in recent years, driven by an increasing prevalence of neurological disorders such as ischemic strokes, aneurysms, arteriovenous malformations, and others. These devices, ranging from stents and embolic coils to flow diverters and neurothrombectomy devices, play a crucial role in the treatment and management of such conditions. However, despite their efficacy, neurovascular interventions carry inherent risks of complications and adverse events.

  One significant risk associated with neurovascular devices is the potential for procedural complications during the intervention itself. These procedures often involve navigating delicate blood vessels within the brain, which can lead to complications such as vessel perforation, thrombosis, or embolism. Moreover, the use of certain devices, such as stents or flow diverters, may inadvertently disrupt the normal blood flow, leading to ischemic events or hemorrhages. The complexity of neurovascular anatomy and variability among patients further compound these risks.

  Post-procedural complications and adverse events pose ongoing challenges in neurovascular interventions. Patients undergoing these procedures may experience complications such as hemorrhage, infection, or neurological deficits following treatment. Additionally, the long-term efficacy and safety of neurovascular devices are subject to scrutiny, with concerns about device migration, thrombosis, or restenosis over time. As such, clinicians must carefully weigh the benefits against the potential risks when selecting and deploying neurovascular devices, ensuring that patients receive optimal care while minimizing the likelihood of adverse outcomes.

Opportunities

• Emerging markets in Asia-Pacific
• Development of innovative neurovascular technologies
• Expansion of product portfolios

• Rising healthcare expenditure globally: The global neurovascular devices market has witnessed significant growth in recent years, driven primarily by the rising healthcare expenditure worldwide. As healthcare budgets increase across various regions, there's a greater focus on advanced medical technologies and treatments, including those for neurovascular conditions. This heightened investment enables healthcare providers to adopt cutting-edge neurovascular devices that enhance diagnostic accuracy, improve treatment outcomes, and reduce patient recovery times. Additionally, the escalating prevalence of neurological disorders such as strokes, aneurysms, and arteriovenous malformations (AVMs) further fuels the demand for innovative neurovascular devices.

  The growing awareness about neurological conditions and advancements in medical research have led to a surge in demand for neurovascular interventions. With increased funding for research and development activities, medical device companies are continually innovating to develop more effective and minimally invasive neurovascular devices. These devices range from clot retrieval systems and embolization coils to stent retrievers and flow diverters, offering healthcare professionals a diverse array of tools to address complex neurovascular disorders. Consequently, as healthcare expenditure continues to rise globally, the neurovascular devices market is poised for sustained growth, driven by technological advancements and expanding applications in neurology.

  The aging population demographic worldwide contributes significantly to the increasing healthcare expenditure and subsequently to the neurovascular devices market growth. Elderly individuals are more susceptible to neurovascular disorders such as ischemic strokes and cerebral aneurysms due to age-related vascular changes and other comorbidities. As governments and healthcare systems allocate more resources to address the healthcare needs of aging populations, there's a greater emphasis on investing in advanced medical technologies, including neurovascular devices. This demographic trend, coupled with rising healthcare expenditure, presents lucrative opportunities for market players to develop innovative neurovascular solutions and expand their global footprint to meet the growing demand for neurological care.

Key players in Global Neurovascular Devices Market include:

• Medtronic plc
• Stryker Corporation
• Johnson & Johnson
• Penumbra, Inc
• Terumo Corporation
• MicroPort Scientific Corporation
• Integer Holdings Corporation
• Penumbra, Inc
• Balt Extrusion
• Medikit Co., Ltd

In this report, the profile of each market player provides following information:

• Company Overview and Product Portfolio
• Key Developments
• Financial Overview
• Strategies
• Company SWOT Analysis