Neurovascular Devices Market Report by Product, Application (Ischemic Stroke, Aneurysm, Arteriovenous Malformation and Fistulas, Stenosis, and Others), End User, and Region 2024-2032

The global neurovascular devices market size reached US$ 2.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.6 Billion by 2032, exhibiting a growth rate (CAGR) of 5.14% during 2024-2032. Technological advancements, increasing prevalence of neurovascular disorders, rising geriatric population seeking minimally invasive treatments, and collaborative efforts among healthcare professionals and research institutions are augmenting the market growth.

Neurovascular devices are medical tools designed to diagnose and treat conditions affecting the blood vessels and nervous system within the brain and spinal cord. They are carefully crafted using advanced materials and precision engineering techniques to ensure their safety and efficacy. They offer significant advantages by enabling minimally invasive procedures that reduce patient discomfort, hospitalization times, and complications. Neurovascular devices find extensive application in addressing various conditions, such as aneurysms, arteriovenous malformations, and ischemic strokes. The types of neurovascular devices include stents, embolic coils, flow diverters, and catheters. Stents support blood vessel integrity, while embolic coils help block blood flow to treat aneurysms. Flow diverters are used to redirect blood flow away from weakened vessel areas, and catheters enable the delivery of treatments directly to affected areas.

The global neurovascular devices market is influenced by rapid technological advancements in medical devices, particularly in the field of neurovascular interventions. Moreover, the rising prevalence of conditions such as strokes, aneurysms, and arteriovenous malformations necessitates the demand for innovative and effective treatment approaches, fueling the market's expansion. Additionally, the increasing geriatric population worldwide, coupled with a growing awareness of neurovascular diseases and the availability of minimally invasive procedures, propels the market forward. In line with this, the healthcare infrastructure development globally also contributes to enhanced accessibility to neurovascular treatments, further propelling market growth.

Neurovascular Devices Market Trends/Drivers:

Technological advancements driving innovation

In the realm of global neurovascular devices, a pivotal driver is the continuous surge in technological advancements. Innovations in medical devices have revolutionized neurovascular interventions, presenting novel treatment avenues for various neurovascular disorders. Cutting-edge technologies such as 3D printing, advanced imaging techniques, and minimally invasive procedures have reshaped the landscape of patient care. These innovations enable more precise diagnosis and treatment, enhancing patient outcomes and reducing risks. Moreover, the integration of robotics and artificial intelligence into neurovascular interventions holds immense potential for optimizing procedures and ensuring personalized treatments. As research and development efforts persist, the relentless pursuit of technological progress fuels the momentum of the neurovascular devices market, establishing it at the forefront of medical innovation.

Rising prevalence of neurovascular disorders

The upward trajectory of the global neurovascular devices market is intrinsically linked to the rising prevalence of neurovascular disorders. Conditions such as strokes, aneurysms, and arteriovenous malformations pose significant health challenges on a global scale. The aging population, coupled with changing lifestyles and risk factors, has contributed to a higher incidence of these disorders. This surge in cases necessitates the development of effective and advanced neurovascular devices for accurate diagnosis, treatment, and post-treatment monitoring. The demand for minimally invasive procedures has particularly gained prominence due to their reduced patient discomfort and quicker recovery times. Consequently, the market responds to this growing need with innovative devices and solutions, reaffirming its position as a vital player in improving patient outcomes and quality of life.

Geriatric population and accessibility to minimally invasive treatments

The geriatric demographic stands as a significant driver in the expansion of the global neurovascular devices market. With the aging population becoming more susceptible to neurovascular disorders, the demand for comprehensive and minimally invasive treatment options escalates. Older individuals often prefer less invasive procedures that minimize physical stress and recovery times. As a result, manufacturers focus on developing devices tailored to this patient group, ensuring their safety and efficacy. The availability of minimally invasive treatments not only improves patient compliance but also addresses the healthcare industry's ongoing emphasis on cost-effective and efficient interventions. This alignment between the needs of the aging population and the market's offerings solidifies the neurovascular devices sector's crucial role in catering to evolving healthcare demands.

Neurovascular Devices Industry Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global neurovascular devices market report, along with forecasts at the global, regional and country levels for 2024-2032. Our report has categorized the market based on product, application, and end user.

Breakup by Product:

Cerebral Embolization and Aneurysm Coiling Devices

Embolic Coils

Flow Diverters

Liquid Embolic Agents

Cerebral Angioplasty and Stenting Systems

Carotid Artery Stents

Embolic Protection Devices

Neurothrombectomy Devices

Clot Retrieval Devices

Suction Devices

Vascular Snares

Support Devices

Micro Catheters

Micro Guidewires

Cerebral embolization and aneurysm coiling devices dominate the market

The report has provided a detailed breakup and analysis of the market based on the product. This includes cerebral embolization and aneurysm coiling devices (embolic coils, flow diverters, and liquid embolic agents), cerebral angioplasty and stenting systems (carotid artery stents and embolic protection devices), neurothrombectomy devices (clot retrieval devices, suction devices, and vascular snares), and support devices (micro catheters and micro guidewires). According to the report, cerebral embolization and aneurysm coiling devices represented the largest segment.

The growth of the cerebral embolization and aneurysm coiling devices segment can be attributed to several key factors that collectively shape its trajectory. Technological advancements play a pivotal role, with continuous innovations enhancing the efficacy and safety of these devices. As medical technologies evolve, cerebral embolization and aneurysm coiling devices are becoming more sophisticated, allowing for more precise interventions and improved patient outcomes. Moreover, the increasing incidence of cerebral aneurysms and related disorders drives demand for advanced treatment options, fostering the adoption of coiling devices. Minimally invasive procedures have gained traction due to their reduced patient discomfort and quicker recovery times, further fueling the segment's growth. Additionally, rising awareness among healthcare professionals and patients regarding the benefits of early intervention and minimally invasive techniques contributes to expanded usage of these devices.

Breakup by Application:

Ischemic Stroke

Aneurysm

Arteriovenous Malformation and Fistulas (AVM)

Stenosis

Others

The report has provided a detailed breakup and analysis of the market based on the application. This includes ischemic stroke, aneurysm, arteriovenous malformation and fistulas (AVM), stenosis, and others.

Within the ischemic stroke segment, the surge in global incidences, especially among the aging population, fuels demand for advanced interventions. Technological strides enable swift diagnoses and targeted treatments, while thrombectomy procedures and clot retrieval devices enhance patient outcomes. The aneurysm segment thrives due to surging awareness of risks, spurring demand for effective treatments. Innovations like flow diverters and collaboration among medical professionals amplify growth. Similarly, the arteriovenous malformation and fistulas (AVM) segment benefits from precise imaging, minimally invasive methods, and collaborative efforts. The stenosis segment, on the other hand, is driven by the need for advanced interventions and technological progress and early interventions. Furthermore, the others segment evolves through tailored technological solutions, collaborative research, and growing global awareness, underscoring its contribution to the neurovascular devices market's overall expansion.

Breakup by End User:

Hospitals

Ambulatory Surgical Centers

Clinics

Others

Hospitals dominate the market

The report has provided a detailed breakup and analysis of the market based on the end user. This includes hospitals, ambulatory surgical centers, clinics, and others. According to the report, hospitals represented the largest segment.

The growth of the hospitals segment within the neurovascular devices market can be attributed to the advancements in medical technology that have significantly enhanced the quality of patient care provided by hospitals. Cutting-edge diagnostic tools, surgical instruments, and treatment methods enable hospitals to offer state-of-the-art medical services, attracting patients seeking the latest and most effective treatments. Additionally, the increasing prevalence of chronic diseases and the aging population drives the demand for specialized medical care, further boosting hospital growth. Moreover, the role of hospitals as centers of medical expertise and comprehensive care fosters their growth. Patients often prefer hospitals for their ability to provide a wide range of medical services under one roof, including diagnostics, surgery, rehabilitation, and specialized treatments. This integrated approach enhances patient convenience and healthcare outcomes, positioning hospitals as trusted destinations for healthcare needs. Furthermore, strategic partnerships and collaborations between hospitals and pharmaceutical companies, medical device manufacturers, and research institutions fuel growth.

Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

North America exhibits a clear dominance, accounting for the largest neurovascular devices market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America accounted for the largest market share.

The growth of the neurovascular devices market in North America is underpinned by a robust healthcare infrastructure, coupled with advanced medical technology. The region's strong focus on research and development fosters the creation of cutting-edge devices, driving the market's expansion. In line with this, the increasing prevalence of neurovascular disorders, attributed to factors such as lifestyle changes and an aging population, elevates the demand for effective treatment solutions. Furthermore, heightened awareness of the importance of early diagnosis and intervention among both healthcare professionals and the general public contributes to market growth. Additionally, strategic collaborations between industry players, research institutions, and healthcare providers propel the development of groundbreaking neurovascular devices. Regulatory bodies' support for swift approval processes and the region's favorable reimbursement policies facilitates market accessibility. The presence of skilled healthcare professionals and a patient-centric approach further accentuate the adoption of neurovascular interventions.

Competitive Landscape:

The competitive landscape of the global neurovascular devices market showcases a dynamic and evolving environment driven by innovation and strategic initiatives. Industry players are engaged in continuous research and development efforts to introduce advanced devices that cater to the increasing demand for effective neurovascular interventions. Collaborative ventures between manufacturers, research institutions, and healthcare providers amplify the development of cutting-edge solutions. Mergers and acquisitions within the market enhance product portfolios, distribution networks, and market reach. Moreover, the emphasis on regulatory compliance and adherence to quality standards ensures the delivery of safe and efficacious devices.

As the market gains traction, the competitive landscape is also influenced by factors such as pricing strategies, product differentiation, and customer support. Companies seek to establish themselves as thought leaders by actively participating in conferences, publishing research findings, and engaging in knowledge-sharing activities. This approach aims to position them as trusted experts in the neurovascular domain. In this ever-evolving arena, the competitive landscape remains a dynamic interplay of innovation, strategic collaborations, and efforts to establish a distinct market presence.

The report has provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

Acandis GmbH

Asahi Intecc Co. Ltd.

Imperative Care Inc.

Integer Holdings Corporation

Johnson & Johnson

Medtronic plc

MicroPort Scientific Corporation

Penumbra Inc.

Perflow Medical Ltd.

Rapid Medical

Stryker Corporation

Terumo Corporation

Recent Developments:

In July 2023, Rapid Medical announced new clinical data demonstrating the "significant advantages" of its novel Comaneci embolisation assist device to treat ruptured wide-neck intracranial aneurysms.

In July 2023, Johnson & Johnson announced its intention to split-off at least 80.1% of the shares of Kenvue Inc. through an exchange offer.

In May 2023, Stryker Corporation acquired Cerus Endovascular. The company is involved in the design, development, manufacture and supply of interventional neurovascular devices and delivery systems used by neuroradiologists for treating intracranial aneurysms.

Key Questions Answered in This Report

• 1. What was the size of the global neurovascular devices market in 2023?
• 2. What is the expected growth rate of the global neurovascular devices market during 2024-2032?
• 3. What are the key factors driving the global neurovascular devices market?
• 4. What has been the impact of COVID-19 on the global neurovascular devices market?
• 5. What is the breakup of the global neurovascular devices market based on the product?
• 6. What is the breakup of the global neurovascular devices market based on end user?
• 7. What are the key regions in the global neurovascular devices market?
• 8. Who are the key players/companies in the global neurovascular devices market?