Neurointerventional Devices Market By Product (Stents, Embolic Coils, Catheter, Wires, Others), By Indication (Brain Aneurysm, Stroke, Others), By Application (Hospitals, Ambulatory Surgical Centers, Others): Global Opportunity Analysis and Industry Forec

Neurointerventional Devices Market By Product (Stents, Embolic Coils, Catheter, Wires, Others), By Indication (Brain Aneurysm, Stroke, Others), By Application (Hospitals, Ambulatory Surgical Centers, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global neurointerventional devices market was valued at $2.6 billion in 2022, and is projected to reach $5.3 billion by 2032, growing at a CAGR of 7.5% from 2023 to 2032. The neurointerventional devices are medical devices used in the field of neurointerventional radiology. neurointerventional radiology, also known as neurointerventional surgery or endovascular neurosurgery, is a medical specialty that focuses on treating various neurological conditions through minimally invasive procedures. Neurointerventional devices are specialized tools designed to access the blood vessels of the brain and spinal cord to diagnose and treat a wide range of neurological disorders. These devices are used by neurointerventional radiologists and neurosurgeons to perform procedures such as cerebral angiography, embolization, thrombectomy, and stenting.

The neurointerventional devices market is driven by increase in prevalence of neurological and disorders, rise in preference towards minimally invasive procedures, and rise in awareness of neurological disorders among general population. Neurological disorders are on the rise globally. These devices play a crucial role in the treatment of conditions such as ischemic and hemorrhagic stroke, cerebral aneurysms, arteriovenous malformations, and other vascular and non-vascular neurological disorders. According to World Stroke Organization, the stroke reached epidemic proportions in 2023. Globally 25% of adults over the age of 25 are expected to have a stroke in their lifetime and over 110 million people in the world have already experienced stroke. Epidemic proportions refers to an increase in the number of cases of a disease above what is normally expected in that population in that area. According to the World Stroke Organization, around 12.2 million people were predicted to have their first stroke in the year 2023, globally. Furthermore, according to a 2023 study by National Library of Medicines, around 3.2% of population is affected by cerebral aneurysms, globally.

Neurointerventional devices play a crucial role in the diagnosis and treatment of neurovascular conditions. For example, catheters and imaging systems are used during cerebral angiography to visualize blood vessels and detect abnormalities. Embolic coils and flow diverters help to treat aneurysms by promoting clotting or redirecting blood flow. Thus, rise in incidence of neurological disorders surge the demand for neurointerventional procedures and devices and propel the growth of the market. Furthermore, increase in preference towards minimally invasive procedures is shaping the growth of the neurointerventional devices market. Minimally invasive procedures have revolutionized the field of neurointerventional by offering several advantages over traditional open surgeries such as reduced invasiveness, shorter hospital stays, faster recovery, improved precision and outcomes, and lower risk of complications. Due to the advantage such as lower risk and faster recovery, there has been a spike in patient preference towards the minimally invasive procedures.

A study performed by the National Library of Medicine, in 2020, reported that the preference of patients toward minimally invasive treatments raised by 36% over the last 16 years. Minimally invasive procedures involve accessing the affected area through small incisions, often guided by imaging techniques such as fluoroscopy or angiography. Neurointerventional devices enable physicians to navigate complex blood vessels and deliver treatments precisely. Catheters, guidewires, and balloons are used in thrombectomy procedure in patient diagnosed with stroke, which helps to remove the blood clots in brain.

In addition, stents and flow diverters are also used to help restore blood flow in blocked or weakened vessels. Thus, the minimally invasive procedures have emerged as more efficient in terms of faster recovery of patient, lower risk management, and improved precision and outcomes, as compared to the traditional surgical methods, leading to high adoption of minimally invasive procedures by patients and healthcare professionals, resulting in the growth of the neurointerventional devices market.

In addition, rise in awareness of neurological disorders has emerged as a significant driver for the neurointerventional devices market. Neurological disorders encompass a range of conditions affecting the brain, spinal cord, and peripheral nervous system. Over recent years, rise in incidence of neurological disorders, advancements in diagnostic techniques, media coverage and advocacy efforts to spread awareness about the neurological disorders, and government initiatives towards treatment support of neurological disorders have led to increase in public awareness of these disorders.

For instance, The National Policy for Rare Diseases scheme, by government of India, has provision for financial support of up to Rs. 50 lakhs to the patients suffering from any category of the rare diseases and for treatment in the Centre of Excellence (CoE) mentioned in NPRD-2021. Moreover, rise in sedentary lifestyles, unhealthy diets, environmental factors, and aging population, further lead to various neurological disorder and boost the growth of the market. Conditions such as stroke, cerebral aneurysms, and arteriovenous malformations can have severe consequences if not diagnosed and treated promptly. Thus, the need for neurointerventional procedure increase the demand for neurointerventional device and propel the growth of the market. However, the high cost of neurointerventional devices is expected to restrain the growth of the market. Technological advancements such as robotics and integration of artificial intelligence (AI) in neurointerventional devices offer lucrative growth opportunity for the neurointerventional devices market.

The neurointerventional devices market is segmented on the basis of product, indication, end user, and region. By product type, the market is categorized into catheter, wires, stents, embolic coils, and others. The others include embolic protection device, and long sheath. By indication, the market is categorized into brain aneurysm, stroke, vascular malformations, and others. The others include vascular malformations, arteriovenous fistula, and arteriovenous malformation (AVM).

By end user, the market is categorized into hospitals and ambulatory surgical center. Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA). Major key players that operate in the global neurointerventional devices market are Stryker Corporation, Johnson & Johnson, Medtronic plc, Terumo Corporation, Lepu Medical Technology (Beijing) Co., Ltd, Merit Medical Systems Inc, Balt Group, Integer Holdings Corporation, Penumbra, Inc., and Cook Group Inc.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the neurointerventional devices market analysis from 2022 to 2032 to identify the prevailing neurointerventional devices market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the neurointerventional devices market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global neurointerventional devices market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Product

Stents
Embolic Coils
Catheter
Wires
Others

By Indication

Brain Aneurysm
Stroke
Others

By Application

Hospitals
Ambulatory Surgical Centers
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Balt Group
Cook Group Inc
Integer Holdings Corporation
Johnson & Johnson
Lepu Medical Technology (Beijing) Co., Ltd
Medtronic plc
Merit Medical Systems Inc.
Penumbra, Inc
Stryker Corporation.
Terumo Corporation

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