A new report by Future Market Insights (FMI) expects global Neurointerventional Devices Market to grow at 4.7% CAGR through 2030.
According to the study, the market will reach US$ 3.6 Bn in revenues by the end of 2030
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Since the past several years, the burden of neurological disorders has increased multifold.
According to the National Center for Biotechnology Information (NCBI), the frequency of cerebral aneurysm is nearly 3.2%, with the prevalence being higher amongst women than men above 50 years of age.
It is estimated that around 6.5 million people in the United States possess an unruptured brain aneurysm, while 30,000 suffer a brain aneurysm rupture every year.
Based on these trends, it is unsurprising to observe the market being interspersed with the presence of several reputed manufacturers who constantly launch new products.
In addition, rising prevalence of ischemic stroke is also boosting the neurointerventional devices market. Being non-invasive in nature, these devices increase chances of survival during surgery, further fueling market growth. By 2030, a valuation of US$ 3.6 Bn is predicted for the market.
Global Neurointerventional Devices Market- Key Takeaways
- North America shall be the market hegemon, holding a 40.7% market share from 2020-2030
- Embolic coils to capture the majority share, carotid stents to surge in popularity
- High incidence of cerebral aneurysm to accelerate adoption of coiling procedures
- Presence of experienced surgeons shall accelerate hospital-grade neurointerventional device adoption
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COVID-19’s Impact on the Market
With respect to neurological disorders, several hospitals and clinics have reported complications in severely or critically ill patients with co-morbidities. COVID-19 has the potential to affect the central and peripheral nervous systems.
The virus invades the brain either through the olfactory system or a hematogenous route. Once inside, the virus may cause hypoxic and metabolic abnormalities.
In this light, the neurointerventional devices market is poised to remain afloat in the near-term forecast period.
Significant increases in mechanical thrombectomies were reported since April 2020, with majority of the patients seeking treatment for acute strokes from large vessel occlusions (LVOs).
A series of case studies on over 200 COVID-19 positive patients in Wuhan, China, 36.4% of patients exhibited neurologic symptoms such as acute cerebrovascular events, muscle injury and impaired consciousness.
In this context, the market is poised to experience an adrenaline rush in the short-run.
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About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years
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