Global Interventional Neuroradiology Market - 2023-2030

Overview

Global Interventional Neuroradiology Market reached US$ 1.9 billion in 2022 and is expected to reach US$ 2.9 billion by 2030, growing with a CAGR of 5.8% during the forecast period 2023-2030.

Interventional neuroradiology therapies are accomplished through microcatheters inserted in the groin area and, under X-ray guidance, threaded through the blood vessels leading into the brain. Interventional neuroradiologists currently employ minimally invasive procedures to accomplish a wide variety of treatments including stroke treatment by delivering clot-busting drugs directly to the site of the blockage; aneurysm therapy by inserting platinum coils into the aneurysm bulge to prevent clotting and rupture; and spinal treatments by injecting cement into a fractured vertebra to reinforce the bone.

Interventional neuroradiology techniques often allow us access to areas of the brain and spine that are surgically difficult to reach. Because the procedures are minimally invasive, hospital stays and recovery periods are normally shorter. In many cases, they also pose a lower risk for complications and infection

Furthermore, the global interventional neuroradiology market is driven by various factors like a progressively ageing population, increasing demand for minimally invasive procedures and a rise in the prevalence of the cerebral aneurysms. However, the high cost of embolization coils and the dearth of skilled professionals are the major factors hindering the market growth.

Dynamics

Rise in the Prevalence of Cerebral Aneurysms

The rise in the prevalence of cerebral aneurysms is one of the key factors that helps the market to grow during the forecast period. For instance, according to an article published on cerebral aneurysms in NCBI, the worldwide prevalence of cerebral aneurysms is approximately 3.2%, with a mean age of 50 and an overall 1:1 gender ratio. This ratio changes significantly after age 50, with an increasing female predominance approaching 2:1, thought to be due to decreased circulating estrogen causing a reduction in the collagen content of the vascular tissue. The rate of rupture causing SAH is about 10 per 100,000.

This is higher in certain populations such as the Finnish and Japanese. However, this is not due to a higher prevalence of aneurysms in these populations. The overall mortality due to aneurysmal SAH is considered to be 0.4 to 0.6% of all-cause deaths, with an approximate 20% mortality and an additional 30 to 40% morbidity in patients with known rupture.

Rise in the Technological Advancements

Disruptive technologies will continue to be developed and evolve the way interventional neuroradiology work is performed. Changes that improve treatment efficacy, shorten the duration of care, reduce costs and allow better patient-centred outcomes are highly desirable.

One of the technologies is Robotic-assisted interventional neuroradiology which is an emerging field at the intersection of interventional neuroradiology and biomedical robotics. Endovascular robotics can automate manoeuvres to reduce procedure times and increase safety, reduce occupational hazards associated with ionizing radiations, and expand networks of care to reduce gaps in geographic access to neuro interventions.

The University Health Network's Toronto Western Hospital has performed the first-in-human robot-assisted neuro-interventional procedure using a remote operation system. This groundbreaking procedure, led by Dr. Vitor Mendes Pereira, aims to improve stroke treatment access and reduce the risk of aneurysm rupture.

The robotic system is the only one in the world capable of this type of neuro-interventional procedure. The procedure involved Dr Pereira leading the robotic arm through digital controls, guiding a microcatheter with millimetric precision through brain vessels and deploying a coil, limiting blood flow to the aneurysm.

Shortage of Radiologists

A shortage of Radiologists is one of the key factors that hamper the market growth during the forecast period. The decline in market growth will result in healthcare facilities hesitating to invest in expensive devices that are used in interventional neuroradiology.

The shortage of radiologists has far-reaching consequences for patient outcomes. "Timely and accurate diagnoses play a pivotal role in determining the appropriate course of treatment, especially in critical conditions. Delayed or inaccurate diagnoses may lead to compromised patient safety, prolonged hospital stays, and increased healthcare costs. Furthermore, the immense burden on our limited radiology workforce can lead to burnout and fatigue, potentially compromising the overall quality of reporting.

Segment Analysis

The global interventional neuroradiology market is segmented based on device type, application, end-user and region.

The Microcatheters Segment From the Device Type Segment Accounted For Approximately 41.7% of Interventional Neuroradiology Share

The microcatheters segment from the device type segment accounted for 41.7% and it is expected to be dominated during the forecast period. Microcatheters are small in size which helps to reduce the risk of vessel injury during the catheterization which helps the procedure to be processed safely during the timeline.

Microcatheters are soft and floppy as they are designed to be the least traumatic. Once a stable position is achieved with a guide catheter or distal access catheter, microcatheters are then advanced to the exact site in the cerebral vasculature. They have different lengths, diameters, stiffness, tractability, and radio-opaque markers, and some of them are even detachable for use in vascular malformations.

For instance, in March 2022 Guerbet announced it will more than double its line of microcatheters and launch a new line of guidewires, resulting in a broad range of interventional imaging and embolization solutions becoming available.

The company obtained its original offering of 18 references of SeQure and DraKon microcatheters as part of its acquisition of Accurate Medical Therapeutics in 2018. It received the CE mark in April 2019 and was US Food and Drug Administration (FDA) in 2018. Guerbet now expands the portfolio, adding 20 versions for a total of 38, and launching a new line of Axessio guidewires with two diameters.

Geographical Penetration

North America Accounted for Approximately 38.4% of the Market Share

North America is estimated to hold about 38.4 % of the total market share throughout the forecast period, owing to factors like new device launches by key players, strategic partnerships within the companies, Heavy utilization of medical imaging technologies, advanced healthcare infrastructure, regulatory framework, patient awareness, market competitiveness will drive the region to be largest during the forecast period.

For instance, in February 2023 RAYUS Radiology, a leading national provider of advanced diagnostic and interventional medical imaging services, announced the renewal of its partnerships with US Ski & Snowboard, US Speedskating and USA Bobsled/Skeleton and will continue to serve as an official Medical Provider for all three organizations and the elite athletes they represent.

Competitive Landscape

The major global players in the market include: Balt Extrusion, Merit Medical Systems, Terumo Corporation, Medtronic, Penumbra, Inc., Mediterra, Stryker, Boston Scientific Corporation, Micro Port Scientific Corporation, MicroVention Inc. and others.

COVID-19 Impact Analysis

The COVID-19 pandemic has disrupted healthcare on an unprecedented scale. Covid had a minimal impact on the global neuroradiology market where neuro interventions were among the least affected, as most of these procedures fall under emergencies such as stroke, SAH, and intracerebral haemorrhage. neurointerventional procedures such as stroke thrombectomy and endovascular therapy for ruptured aneurysms increased marginally.

Moreover, Difficulties in providing essential/post-sales assistance due to lockdowns have degraded interventional neuroradiology products to end-users. Thus, the pandemic is not expected to have long-term effects on the primary growth drivers or end-users in the interventional neuroradiology market.

By Device Type

• Microcatheters
• Neurovascular Embolization & Coiling Assist Devices
• Embolic Coils
• Flow Diversion Devices
• Liquid Embolic Agents
• Accessories
• Micro guidewires

By Disease

• Cerebral Aneurysms
• Intra-cranial Atherosclerotic Tumors
• Acute Ischemic Strokes
• Other Diseases

End- User

• Hospitals
• Ambulatory Surgical Centers
• Diagnostic Centers

By Region

• North America
  • U.S.
  • Canada
  • Mexico

• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe

• South America
  • Brazil
  • Argentina
  • Rest of South America

• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific

• Middle East and Africa

Key Developments

• In June 2023 Adept Medical announced the launch of the Head Immobilizer-a radiolucent support for a range of interventional radiology (IR) and neuroradiology procedures. Now commercially available, the positioning device can help mitigate the costs of retakes, from reducing the amount of mid-procedure interventions caused by head movement in awake patients, to enabling interventionists to consider conscious sedation as an option, as well as minimizing patient exposure to radiation.
• In October 2022 RANZCR formally launched the Standards of Practice for Interventional Radiology and Interventional Neuroradiology at the 72nd Annual Scientific Meeting (ASM) in Adelaide. Applicable to all interventional radiology (IR) and interventional neuroradiology (INR) practices across Australia and New Zealand, these are the first comprehensive standards for the safe and effective preparation, delivery and follow-up of IR and INR services.
• In June 2022, Sheikh Shakhbout Medical City (SSMC), one of the UAE's largest hospitals and a joint-venture partnership between Abu Dhabi Health Services Company (SEHA) and Mayo Clinic, established a new state-of-the-art, Biplane Angio Suite for the diagnosis and treatment of ischemic strokes. The brand-new service is under the Division of Interventional Neuroradiology which is part of the Clinical Imaging department.

Why Purchase the Report?

• To visualize the global interventional neuroradiology market segmentation based on device type, application, end user and region as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of global interventional neuroradiology market level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.

The global interventional neuroradiology market report would provide approximately 61 tables, 58 figures and 186 Pages.

Target Audience 2023

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies