The global neurointerventional device market, valued at USD 2.6 billion in 2023, is projected to grow significantly, reaching USD 4.1 billion by 2033. This growth reflects a compound annual growth rate (CAGR) of 4.7% from 2023 to 2033.
The market expansion is driven by ongoing advancements in neurovascular treatments, including the increasing prevalence of neurological disorders such as stroke and aneurysms. The development of more effective and minimally invasive neurointerventional devices is enhancing patient outcomes and fueling demand for these technologies across hospitals and medical facilities. As the field of neurointervention continues to innovate, the market for these devices is expected to thrive, providing crucial solutions for treating complex neurological conditions.
Key Market Trends and Highlights
- Emerging economies are witnessing increased healthcare spending and improved healthcare infrastructure, which is expected to create new opportunities for neurointerventional device manufacturers.
- Advancements in precision medicine are allowing for more personalized treatment plans, which can include the use of specific neurointerventional Device tailored to individual patients’ needs.
- AI and machine learning are being used to enhance the accuracy of diagnostics and treatment planning in neurointerventional procedures, which can improve patient outcomes.
- The adoption of telemedicine and remote monitoring is making neurointerventional consultations more accessible, especially in remote or underserved areas.
Neurointerventional Device Market Key Drivers
- An aging population is more prone to neurological conditions and disorders, which increases the demand for neurointerventional Device. As the global population continues to age, this trend is expected to drive market growth.
- Advances in neurointerventional Device and techniques, such as minimally invasive procedures and the development of new materials, have improved the effectiveness and safety of treatments, which encourages both patients and healthcare providers to opt for these Device.
- The prevalence of neurological disorders like stroke, aneurysms, and Alzheimer’s disease is on the rise. Neurointerventional Device play a crucial role in diagnosis, treatment, and management of these conditions.
- Growing awareness about the availability of minimally invasive treatments for neurovascular conditions is leading to early diagnosis and intervention, thereby driving the market’s growth.
Competitive Landscape
The key strategies chosen by large companies include several growth strategies such as technology development, expansion as well and mergers and acquisitions to surge market share, reach and revenue.
- In 2023, Medtronic announced the launch of its new neurointerventional device, the Solitaire™ Prime Revascularization Device. The Solitaire™ Prime Revascularization Device is a next-generation stentriever that is designed to improve the treatment of stroke.
- In 2023, Stryker announced the acquisition of Neurovascular Therapies, a leading producer of neurointerventional Device. The acquisition gives Stryker access to Neurovascular Therapies’ portfolio of neurointerventional Device, which will allow Stryker to expand its neurointerventional device offerings.
- In 2022, Terumo announced the launch of its new neurointerventional device, the Wingspan® Stent System. The Wingspan® Stent System is a self-expanding intracranial stent that is designed to treat stenosis of the intracranial arteries.
Key Companies Profiled
- 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
- Siemens Healthineers
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Segmentation Analysis of the Neurointerventional Device Market
By Product:
- Embolic Coils
- Carotid Stents
- Intracranial Stents
- Neurovascular Thrombectomy
- Embolic Protection Device
- Flow Diverters Device
- Intrasaccular Device
- Liquid Embolic
- Balloons
- Stent Retrievers
By Technique:
- Neurothrombectomy Procedure
- Cerebral Angiography
- Stenting
- Coiling Procedures
- Flow Disruption
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
Author By:
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
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