The neurovascular stent retrievers market is expected to record a CAGR of 6.3% through 2032, with a current value of US$ 675.05 million in 2022. The market is likely to reach a valuation of US$ 1243.57 million by 2032.
| Attributes | Details |
|---|---|
| Neurovascular Stent Retrievers Market CAGR | 6.3% |
| Neurovascular Stent Retrievers Market (2022) | US$ 675.05 Million |
| Neurovascular Stent Retrievers Market (2032) | US$ 1243.57 Million |
As a result of the lack of skilled neurosurgeons and the complex nature of neurological surgery, the market is still experiencing slow growth because of a dearth of skilled neurosurgeons.
The neurovascular stent retrievers are employed for thrombectomy and restoration of the blood flow in the acute embolic stroke. The neurovascular stent retrievers are particularly recognizes due to their ability to rapidly restore the blood flow and effectively the clots or thrombus from large intracranial arteries.
Neurovascular stent retrievers are thus used in the treatment of endovascular stroke. Ischemic stroke is the major cause of disability and death in the world. The systemic thrombolysis with tissue plasminogen activator were used for the effective treatment of stroke however in severe stroke with thromboembolic occlusion, the effectiveness of other treatments were limited.
Stent retrievers are introduced recently for the mechanical thrombectomy in the patients with acute embolic stroke.
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Due to the use of neurovascular stent retrievers in the treatment of even the most serious cases of stroke caused by thromboembolic occlusion, the neurovascular stent retrievers market is expected to witness significant growth in the coming years.
According to the World Health Organization, approximately 5 million people are estimated to suffer from strokes worldwide every year. In the past few decades, obesity and diabetes have been on the rise in the world. These two diseases have been responsible for a rise in the prevalence of strokes and the development of neurovascular stent retrievers to meet the demand.
There is a growing demand for stent retrievers in the event of an acute embolic stroke, for the restoration of flow, and in the case of thrombectomies. Clinical tests and results are overflowing with favorable results in favor of the more innovative designs emerging in the global neurovascular stent retrievers market, as well as the effectiveness of these technologies in restoring blood flow swiftly and efficiently.
In addition to successfully retrieving clots from major intracranial arteries, the neurovascular stent retriever can also successfully remove clots from intracranial veins. This factor is sure to ensure that the market is growing at a steady rate.
Market growth is attributed to technological innovations and neurovascular stent retrieval advancements. Several governments around the world, especially those in developed countries, are encouraging the advancement of neurovascular stent retrievers.
Since the use of neurovascular stent retrievers has shown significant improvements in patients’ health, this has led to the governments supporting the use of these devices. Further, the sedentary lifestyle and unhealthy eating habits of people globally are also contributing to the growth of the global market for neurovascular stent retrievers.
The key factors for the promising growth of global neurovascular stent retrievers market are increasing corporate and government funding in research and development field, technological advancements, increasing number of patients undergoing stroke, enhancement in health facilities, rise in healthcare investments, growing requirement for minimally invasive surgery procedures and increasing change in lifestyle related diseases such as obesity which is the major cause of increasing stroke incidences..
The limitations in the growth of global neurovascular stent market are complexities of neurovascular surgeries and requirement of dwell time. The multiple passes of stent are needed in some patients in order to remove clot may result in occurring corresponding disorders. Due to the loss in access to occluded vessel high risk involved in the stent retrieving process.
Principal Consultant
With the rapid advancement in technology and increasing number of patients undergoing stroke and government initiative for research and development, the global neurovascular stent retrievers market is expected to expand at healthy CAGR during the forecast period (2016-2026). Based on product type, the neurovascular stent retrievers marketsegmented into, Balloon Expanding Stents and Self-Expanding Stents.
The balloon expanding stents are used widely hence they are expected to drive the market of neurovascular stent retrievers.
Depending on geographic region, global neurovascular stent retrievers market is segmented into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific, Japan, and Middle East & Africa.
North America dominates the global market neurovascular stent retrievers followed by Europe, Japan and Asia Pacific owing to increasing ischemic stroke prevalence, advancement in technology and as in maximum stent retrievers are expected to enter market The developing nations in Asia Pacific, Middle East and Africa hold huge potential for growth in the global neurovascular stent retrievers market, due to adoption of new technology and development in healthcare infrastructure.
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Some of the key participating global neurovascular stent retrievers market are Nitinol Devices & Components, Inc., Stryker, Medtronic Plc, STI Laser Industries, Ltd., Norman Noble, INC.,Hobbs Medical IN ,Akron Inc. Advent Devices Pvt. Ltd, Meril Life Science Pvt .Ltd. The manufacturers are focusing on investing in research and development in order to bring new and simple technologies to reduce stroke problems.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data.
It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to categories such as market segments, geographies, types, technology, material and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Neurovascular stent retrievers market is classified on the basis of product, material, end users and geography.
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Neurovascular Stent Retrievers Market
