The global neurointerventional devices market is poised for remarkable growth, with its size projected to increase from USD 2.6 billion in 2023 to approximately USD 4.1 billion by 2033. This upward trajectory is driven by escalating healthcare expenditures worldwide and enhanced reimbursement policies for neurointerventional procedures, according to a recent market study.
As of the end of 2022, the neurointerventional devices sector, which includes cutting-edge technologies for minimally invasive treatments of neurological conditions, was valued at USD 2.5 billion. The market has been growing at a compound annual growth rate (CAGR) of 4.3% from 2018 to 2022 and is expected to sustain a robust CAGR of 4.7% from 2023 to 2033.
Key drivers of this growth include improved reimbursement policies, which are anticipated to encourage healthcare providers to invest in advanced neurointerventional devices. These policies are expected to enhance the availability of these devices and further stimulate market expansion.
The neurointerventional devices market continues to evolve, offering innovative solutions for treating complex neurological conditions through less invasive procedures. With continued advancements and supportive healthcare policies, the sector is well-positioned for sustained growth and innovation in the coming years.
Key Market Insights:
- The global neurointerventional devices market is projected to reach USD 4.1 billion by 2033.
- The market is anticipated to grow at a CAGR of 4.7% from 2023 to 2033.
- By end-user, the hospitals segment is expected to expand at a CAGR of 4.5% through 2033.
- The Indian market is forecasted to grow at a CAGR of 4.5% through 2033.
“The digitalization of healthcare records and patient data can facilitate seamless communication between healthcare providers, potentially improving the utilization of neurointerventional devices,” remarks an FMI analyst.
High Demand for Neurointerventional Device: Uncover the Trends and Insights with Our Detailed Report!
Competitive Landscape:
Prominent players in the neurointerventional devices market include Stryker Corporation, Penumbra Inc., Covidien Public Limited, Johnson & Johnson Private Limited, Terumo Corporation, Medtronic, Boston Scientific, MicroPort Scientific Corporation, W. L. Gore & Associates, Inc., Abbott, Philips Healthcare, and Siemens Healthineers.
As the market continues to evolve, key players are expected to focus on expanding their product portfolios and strengthening distribution networks to capitalize on emerging opportunities in this dynamic sector.
Recent Developments:
- Johnson & Johnson launched the EmboTrap™ II Embolic Capture Device in 2023, designed to enhance stroke treatment.
- Boston Scientific introduced the ACURUN™ Onyx™ Liquid Embolic System in 2022, targeting vascular malformations and neurovascular disorders.
Market Segmentation:
- By Product: Embolic Coils, Carotid Stents, Intracranial Stents, Neurovascular Thrombectomy, and more.
- By Technique: Neurothrombectomy Procedure, Cerebral Angiography, Stenting, Coiling Procedures.
- By End User: Hospitals, Ambulatory Surgical Centers.
- By Region: North America, Latin America, Western Europe, Eastern Europe, South Asia & Pacific, East Asia, The Middle East & Africa.
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