According to a new report from Future Market Insights (FMI), the global Neurointerventional Devices Market will grow at a 4.7% CAGR through 2030. According to the study, the market will be worth $3.6 billion by the end of 2030.
| Data Points | Market Insights |
| Market Value 2021 | US$ 2.4 Bn |
| Market Value 2022 | US$ 2.5 Bn |
| Market Value 2030 | US$ 3.6 Bn |
| CAGR 2022-2030 | 4.7% |
| Market Share of Top 5 Countries | 72.5% |
| Key Market Players | Stryker Corporation, Penumbra Inc., Covidien Public Limited, Johnson & Johnson Private Limited and Terumo Corporation |
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The prevalence of neurological disorders has more than tripled in recent years. According to the National Center for Biotechnology Information (NCBI), the prevalence of cerebral aneurysm is nearly 3.2%, with women being more likely than men over the age of 50.
It is estimated that approximately 6.5 million people in the United States have an unruptured brain aneurysm, with 30,000 experiencing a rupture each year. Based on these trends, it is not surprising to see the market dotted with the presence of several reputable manufacturers who are constantly launching new products.
Furthermore, the rising prevalence of ischemic stroke is driving the neurointerventional devices market. Because these devices are non-invasive, they increase the chances of survival during surgery, fueling market growth. The market is expected to be worth $3.6 billion by 2030.
Global Neurointerventional Devices Market- Key Takeaways
- North America shall be the market hegemon, holding a 40.7% market share from 2020-2030
- Embolic coils to capture the majority share, carotid stents to surge in popularity
- High incidence of cerebral aneurysm to accelerate adoption of coiling procedures
- Presence of experienced surgeons shall accelerate hospital-grade neurointerventional device adoption
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Scope of the Report
| Attribute | Details |
| Forecast Period | 2022-2030 |
| Historical Data Available for | 2013-2021 |
| Market Analysis | US$ Mn for Value |
| Key Regions Covered | North America, Latin America, Western Europe, Eastern Europe, Japan, APEJ and Middle East and Africa |
| Key Countries Covered | U.S., Canada, Brazil, Mexico, Germany, France, U.K., Italy, Spain, Nordic, BENELUX, Russia, Poland, Japan, China, India, ASEAN, ANZ, Rest of Asia Pacific, GCC Countries, North Africa and South Africa |
| Key Market Segments Covered | Product, Technique, End User and Region |
| Key Companies Profiled | • Stryker Corporation
• Penumbra Inc. • Covidien Public Limited • Johnson & Johnson Private Limited • Terumo Corporation |
| Pricing | Available upon Request |
COVID-19’s Impact on the Market
Several hospitals and clinics have reported complications in severely or critically ill patients with co-morbidities due to neurological disorders. COVID-19 may have an effect on both the central and peripheral nervous systems. The virus enters the brain via the olfactory system or a hematogenous route. Once inside, the virus has the potential to cause hypoxia and metabolic abnormalities.
As a result, the neurointerventional devices market is expected to stay afloat in the near term. Since April 2020, there has been a significant increase in mechanical thrombectomies, with the majority of patients seeking treatment for acute strokes caused by large vessel occlusions.
According to a series of case studies conducted on over 200 COVID-19 positive patients in Wuhan, China, 36.4% of patients experienced neurologic symptoms such as acute cerebrovascular events, muscle injury, and impaired consciousness. In this context, the market is primed for a short-term adrenaline rush.
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Competitive Intelligence
Stryker Corporation, Covidien Public Ltd., Penumbra Inc., Terumo Corporation, Johnson & Johnson Private Limited, Medtronic PLC, Boston Scientific Corporation, and Abbott are some of the landscape’s influential vendors.
Players are emphasising business expansion through partnerships, collaborations, mergers and acquisitions, and participation in trade shows. Many of them are also collaborating with research institutions to expand their research capabilities.
Stryker Corporation successfully launched its Surpass Evolve flow diverter in the US market in August 2020 after receiving FDA clearance. Since 2019, the device has been in use in Europe.
Penumbra Inc. will take part in the virtual Global Embolization Symposium & Technologies 2020 Conference in September 2020. The company hopes to broaden its reach and collaborate with other key players to develop and launch new neurointerventional devices, thereby expanding its current product portfolio.
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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