Neurovascular Devices/Interventional Neurology - Forecast(2022 - 2027)

Report Code: HCR 0571 Report Format: PDF + Excel

Neurovascular Devices/Interventional Neurology Market Overview

Neurovascular Devices/Interventional Neurology Market size is estimated to reach $3.6 billion by 2026, growing at a CAGR of 7.8% during the forecast period 2021-2026. Neurovascular/Interventional neurology devices are utilized for the treatment of various neurovascular diseases. For example, devices such as Clips, Coils, and Stents are employed to treat disorders like arteriovenous malformation, cerebral aneurysm while clot retrieval devices, suction, and aspirations are used to eliminate arterial or veinous blood clots that may lead to stroke. Other neurovascular devices include carotid artery stents, distal filter devices, and microcatheters. Factors like beneficial medical reimbursement policies and the global rise in patients suffering from neurovascular disorders are driving the growth of the Neurovascular Devices/Interventional Neurology industry during the forecast period 2021-2026. However, implementation of strict regulations in the Neurovascular Devices/Interventional Neurology industry by several national governments such as the US act as a challenge to the market growth.

Report Coverage

The report: Neurovascular Devices/Interventional Neurology Market Forecast (2021-2026), by Industry ARC, covers an in-depth analysis of the following segments of the Neurovascular Devices/Interventional Neurology Market.
By Product Type: Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, and Support devices.
By Disease Type: Arteriovenous Malformation and Fistulas, Ischemic Strokes, Cerebral Aneurysms, and Others
By End User: Hospitals, Specialty Clinics and Others.
By Geography: North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, Japan, South Korea, Australia & New Zealand and the Rest of Asia-Pacific), South America (Brazil, Argentina, and Rest of South America) and the Rest of the World (Middle East and Africa).

Key Takeaways

  • Geographically, the North American Neurovascular Devices/Interventional Neurology Market accounted for the highest revenue share in 2020, and it is poised to dominate the market over the period 2021-2026 owing to the growth in the target patient population and awareness.
  • Increase in Research and Development in the Neurovascular Devices/Interventional Neurology industry will drive the market during the forecast period. However, the high surgery cost for neurovascular surgeries is a major challenge faced by the market. 
  • Detailed analysis on the Strength, Weakness, and Opportunities of the prominent players operating in the market will be provided in the Neurovascular Devices/Interventional Neurology Market report.

Neurovascular Devices/Interventional Neurology Market Size, By Geography 2020 (%)

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Neurovascular Devices/Interventional Neurology Market Segment Analysis - By Product Type

Based on product type, the Neurovascular Devices/Interventional Neurology market is segmented into Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, and Support devices. The Neurovascular Devices/Interventional Neurology market share is predicted to be dominated by the Cerebral Embolization and Aneurysm Coiling devices, which are mainly used for the treatment of Arteriovenous malformations, carotid-cavernous fistula, aneurisms and various other neurovascular disorders. The Cerebral Embolization and Aneurysm Coiling Devices segment is also estimated to be the fastest-growing segment with a CAGR of 8.5% during the forecast period 2021-2026. This rapid growth is attributed to the global rise in popularity and implementation of minimally invasive neurosurgery procedures and the rise in the availability of embolic coils essential for the treatment of aneurism.

Neurovascular Devices/Interventional Neurology Market Segment Analysis - By Disease Type

Based on Disease type, the Neurovascular Devices/Interventional Neurology market is further segmented into Arteriovenous Malformation and Fistulas, Ischemic Strokes, Cerebral Aneurysms, and Others. The cerebral Aneurysms segment is predicted to have the largest market share during the forecast period 2021-2026 owing to the global increase in risk factors that lead to aneurysms such as high blood pressure, diabetes, high cholesterol, obesity, and use of cigarettes. However, the Ischemic Strokes segment is estimated to be the fastest-growing segment with a CAGR of 8.3% during the forecast period. This segment's high growth rate is attributed to the global rise in risk factors leading to the disease and the increase in demand for minimally invasive surgical procedures. According to the Centre for Disease Control (CDC), about 87% of strokes are Ischemic.

Neurovascular Devices/Interventional Neurology Market Segment Analysis -By Geography

The Neurovascular Devices/Interventional Neurology Market based on Geography can be segmented into North America, Europe, Asia-Pacific, South. America, and Rest of World. North America held the largest share with 31% of the overall market in 2020. The growth in this segment is owing to the factors such as reduction in product prices, increase in awareness about the benefits of Interventional Neurological devices, as well as the increase of patients suffering from Neurovascular disorders in the region. According to the CDC, there were more than 691,000 cases of Ischemic Stroke in the US alone in 2018. This will only increase during the forecast period of 2021-2026, owing to the rise in risk factors among the population. Asia Pacific region is predicted to witness the fastest growth rate owing to the Increased healthcare expenditure and rise in manufacturers in the region, leading to reduced prices.

Neurovascular Devices/Interventional Neurology Market Drivers

Advancement in diagnostic imaging techniques is Projected to Drive Market Growth

The innovations and advancements in diagnostic and imaging techniques for identifying disorders such as embolisms and ischemia has led to increased early detection of the diseases while also making them less invasive. This will lead to a growth in demand for the Neurovascular Devices for their treatment. For instance, the Digital subtraction angiography technique used to visualize blood vessels is being replaced by more advanced computed tomography angiography and magnetic resonance angiography.

Favourable medical reimbursements in developed economies are Expected to Boost Product Demand

Neurovascular surgeries can be a huge financial burden for patients. For instance, the average annual cost for Ischemic stroke treatment in the US could be up to $77,300. This makes treatment highly unaffordable for a large number of patients. However, demand for treatment has increased owing to the favourable reimbursement policies from both private and public insurance systems in these regions.

Neurovascular Devices/Interventional Neurology Market Challenges   

Poor healthcare infrastructure and lack of skilled professionals in developing regions is Anticipated to Hamper Market Growth

Small-scale hospitals and specialty clinics in developing nations usually lack the funding to purchase and maintain expensive neurovascular devices or to provide salaries for experienced neurosurgeons to conduct the extremely delicate procedures. The low reimbursement situation in such regions leads to a lower number of patients seeking medical care. This dissuades hospitals from investing in neurovascular equipment, leading to a reduction in demand.

Stringent government regulations in the industry are projected to limit growth opportunities

Manufacturers across the developed regions such as North America face high pressure owing to the lack of support from their respective governments. These laws affect the pricing and clinical trials of new neurovascular devices. For instance, The Patient Protection and Affordable Care Act imposes a 2.3% tax on the sale of certain medical devices in the US, which will force manufacturers to sell at a higher price.

Neurovascular Devices/Interventional Neurology Market Competitive Landscape:

Product launches, mergers and acquisitions, joint ventures, and geographical expansions are key strategies adopted by players in the Neurovascular Devices/Interventional Neurology Market. The top 10 companies in Interventional Neurology are-

  • W.L. Gore & Associates
  • Abbott Laboratories
  • Stryker Corporation
  • Medtronic PLC
  • Terumo Corporation
  • Johnson & Johnson
  • Penumbra, Inc.
  • Boston Scientific Corporation
  • Merit Medical Systems, Inc.
  • Microport Scientific Corporation

Partnerships/Product Launches:

  • In February 2021, Medtronic announced the expansion of its limited site release of their recently acquired radial artery access portfolio from RIST Neurovascular.
  • In January 2021, Genesis MedTech formed a collaboration with Penumbra in order to expand their neurovascular market in China
  • In December 2020, Terumo Corporation announced the release of their WEB™ Embolization System, which is a unique intravascular device that can be used to treat intracranial wide neck bifurcation aneurysms that cannot undergo surgical clipping.

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1. Neurovascular Devices/Interventional Neurology Market Overview
    1.1 Definitions and Scope
2. Neurovascular Devices/Interventional Neurology Market Executive Summary
    2.1 Market revenue, Market Size and Key Trends 
    2.2 Key trends by Product Type
    2.3 Key trends by Disease Type
    2.4 Key trends by End User Type
    2.5 Key trends by Geography
3. Neurovascular Devices/Interventional Neurology Market Landscape
    3.1 Market Share Analysis- Key Companies
    3.2 Product Benchmarking- Key Companies
    3.3 Financial Analysis - Key Companies  
    3.4 Patent Analysis 
    3.5 Pricing Analysis
4. Neurovascular Devices/Interventional Neurology Market - Startup companies Scenario Premium Premium
    4.1 Key startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Application Analysis
        4.1.4 Venture Capital and Funding Scenario
5. Neurovascular Devices/Interventional Neurology Market - Industry Market Entry Scenario Premium Premium
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case Studies of successful ventures
6. Neurovascular Devices/Interventional Neurology Market Forces
    6.1 Market Drivers
    6.2 Market Constraints and Challenges
    6.3 Porters Five Force Model
        6.3.1 Bargaining Power of Suppliers
        6.3.2 Bargaining Powers of Customers
        6.3.3 Threat of New Entrants
        6.3.4 Rivalry Among Existing Players
        6.3.5 Threat of Substitutes 
7. Neurovascular Devices/Interventional Neurology Market Strategic Analysis
    7.1 Value Chain Analysis
    7.2 Opportunities Analysis
    7.3 Market Life Cycle
8. Neurovascular Devices/Interventional Neurology Market – By Product Type(Market Size -$Million/$Billion)
    8.1 Cerebral Balloon Angioplasty and Stenting Systems
        8.1.1 Carotid Artery Stents
        8.1.2 Embolic Protection Systems
            8.1.2.1 Distal Filter Devices
            8.1.2.2 Balloon Occlusion Devices
    8.2 Aneurysm Coiling & Embolization Devices
        8.2.1 Embolic Coils
        8.2.2 Bare Detachable Coils
        8.2.3 Coated Detachable Coils
    8.3 Support Devices
        8.3.1 Microcatheters
        8.3.2 Microguidewires
    8.4 Neurothrombectomy Devices
       8.4.1 Clot Retrieval Devices
       8.4.2 Suction and Aspiration Devices
       8.4.3 Snares
9. Neurovascular Devices/Interventional Neurology Market – By  Disease  (Market Size -$Million/$Billion)
    9.1 Arteriovenous Malformation and Fistulas
    9.2 Ischemic Strokes
    9.3 Cerebral Aneurysms
    9.4 Other Disease Pathologies
10. Neurovascular Devices/Interventional Neurology Market – By  End User  (Market Size -$Million/$Billion)
    10.1 Hospitals
    10.2 Specialty Clinics
    10.3 Ambulatory Surgical Units
11. Neurovascular Devices/Interventional Neurology Market - By Geography (Market Size -$Million/$Billion)
    11.1 North America
        11.1.1 U.S.
        11.1.2 Canada
        11.1.3 Mexico
    11.2 Europe
        11.2.1 U.K.
        11.2.2 Germany
        11.2.3 France
        11.2.4 Netherlands
        11.2.5 Spain
        11.2.6 Belgium
        11.2.7 Italy
        11.2.8 Rest of Europe
    11.3 Asia-Pacific
        11.3.1 China
        11.3.2 Japan
        11.3.3 India
        11.3.4 South Korea
        11.3.5 Australia
        11.3.6 New Zealand
        11.3.7 Rest of Asia Pacific
    11.4 Rest of the World
        11.4.1 Middle East
        11.4.2 Africa
        11.4.3 South America
12. Neurovascular Devices/Interventional Neurology Market Entropy
13. Neurovascular Devices/Interventional Neurology Market - Industry / Segment Competition landscape Premium Premium
    13.1 Market Share Analysis
        13.1.1 Market Share by Country- Key companies
        13.1.2 Market Share by Region- Key companies
        13.1.3 Market Share at Global Level- Key companies
        13.1.4 Best Practices for Companies
14. Neurovascular Devices/Interventional Neurology Market - Key Company List by Country Premium Premium
15. Neurovascular Devices/Interventional Neurology Market Company Analysis
    15.1 (Company Revenue, Products, M&A, Developments)
    15.2 W.L. Gore & Associates, Inc.
    15.3 Abbott Laboratories
    15.4 Stryker Corporation
    15.5 Medtronic PLC
    15.6 Terumo Corporation
    15.7 Johnson & Johnson
    15.8 Penumbra, Inc.
    15.9 Boston Scientific Corporation
    15.10 Merit Medical Systems, Inc.
    15.11 Microport Scientific Corporation
"*Financials for private companies would be provided on a best efforts basis”.