The neurointerventional Device market size is projected to be worth USD 2.6 billion in 2023. The market is likely to reach USD 4.1 billion by 2033. The market is further expected to surge at a CAGR of 4.7% during the forecast period 2023 to 2033.
Key Market Trends and Highlights
| Attributes | Key Insights |
|---|---|
| Neurointerventional Device Market Estimated Size in 2023 | USD 2.6 billion |
| Projected Market Value in 2033 | USD 4.1 billion |
| Value-based CAGR from 2023 to 2033 | 4.7% |
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The scope for neurointerventional Device rose at a 4.3% CAGR between 2018 and 2022. The global market for neurointerventional Device is anticipated to grow at a moderate CAGR of 4.7% over the forecast period 2023 to 2033.
| Report Attributes | Details |
|---|---|
| Market Value in 2018 | USD 2.1 billion |
| Market Value in 2022 | USD 2.5 billion |
| CAGR from 2018 to 2022 | 4.3% |
According to the World Health Organization (WHO), neurological disorders are the leading cause of disability worldwide. The prevalence of neurological disorders is expected to increase in the coming years due to aging population and increasing risk factors, such as hypertension, diabetes, and obesity.
Neurointerventional Device offer minimally invasive treatments for neurological disorders, which are associated with shorter hospital stays, faster recovery times, and fewer complications, which is driving the demand for neurointerventional Device.
Technological advancements in neurointerventional Device, such as the development of new Device with improved performance and safety, are also driving the growth of the market. Neurointerventional Device are being increasingly used to treat a wider range of neurological disorders, such as chronic cerebrospinal fluid (CSF) leaks and brain tumors, which is expanding the market for neurointerventional Device.
The Asia Pacific region is expected to be the fastest-growing market for neurointerventional Device during the forecast period. The growth of the neurointerventional Device market in Asia Pacific is attributed to the increasing prevalence of neurological disorders in the region, as well as the growing demand for minimally invasive treatments.
Principal Consultant
The below table showcases revenues in terms of the top 5 leading countries, spearheaded by the United States and China. These two countries are expected to lead the market through 2033.
Forecast CAGRs from 2023 to 2033
| The United States | 4.6% |
|---|---|
| China | 4.6% |
| India | 4.5% |
| Japan | 4.3% |
| Germany | 4.0% |
The neurointerventional Device market in the United States is expected to expand at a CAGR of 4.6% through 2033. The United States has a significant population affected by neurological disorders, including strokes, aneurysms, and brain tumors.
The rising incidence of these conditions drives the demand for neurointerventional Device for diagnosis and treatment. There is an increased risk of age-related neurological conditions, with a growing aging population. The demographic trend contributes to the demand for neurointerventional procedures and Device.
The United States is a hub for medical technology innovation. Continuous advancements in imaging, navigation, and interventional Device enhance the precision and safety of neurointerventional procedures, boosting their adoption.
The United States has a well-developed healthcare infrastructure with advanced hospitals and medical facilities, providing a conducive environment for neurointerventional procedures and the use of associated Device.
The China’s neurointerventional Device market is anticipated to expand at a CAGR of 4.6% through 2033. China has been increasing its healthcare expenditure to improve healthcare infrastructure and access to advanced medical technologies, including neurointerventional Device.
The Chinese government has been promoting healthcare reforms and investments in medical research and development, supporting the growth of the medical device industry, including neurointerventional Device.
Healthcare reform initiatives aimed at expanding access to quality care and improving patient outcomes are likely to drive the adoption of neurointerventional procedures and Device. Growing patient awareness of neurological conditions and available treatment options, including minimally invasive neurointerventional procedures, can boost demand.
China has been investing in training and education programs for healthcare professionals, including neurosurgeons and interventional neuroradiologists, to perform neurointerventional procedures effectively.
The neurointerventional Device market in India is poised to expand at a CAGR of 4.5% through 2033. India has been increasing its healthcare expenditure, with a focus on improving healthcare infrastructure and access to advanced medical technologies, including neurointerventional Device.
Ongoing advancements in medical technology, including imaging, navigation, and minimally invasive Device used in neurointerventional procedures, enhance the accessibility and effectiveness of these treatments.
The Indian government has been promoting healthcare reforms and investments in medical research and development, supporting the growth of the medical device industry, including neurointerventional Device. Healthcare reform initiatives aimed at expanding access to quality care and improving patient outcomes are likely to drive the adoption of neurointerventional procedures and Device.
A growing number of domestic and international medical device companies are entering the Indian market, fostering competition and innovation in the neurointerventional Device sector. The Indian government has been working on streamlining regulatory processes and approvals for medical Device, making it easier for new neurointerventional Device to enter the market.
Neurointerventional Device trends in Japan are taking a turn for the better. A 4.3% CAGR is forecast for the country from 2023 to 2033. Japan boasts a highly advanced and well-developed healthcare infrastructure, making it conducive for the adoption of advanced medical technologies, including neurointerventional Device.
The Japanese government has been promoting healthcare reforms and investing in medical research and development, supporting the growth of the medical device industry, including neurointerventional Device.
Japan is known for its commitment to research and development, particularly in the medical field. The country continues to invest in neuroscience research and innovative device development. The integration of telemedicine and remote consultations can improve access to neurointerventional expertise, particularly in remote or underserved areas of Japan.
The neurointerventional Device market in Germany is anticipated to expand at a CAGR of 4.0% through 2033. Germany has a well-trained and experienced healthcare workforce, including neurosurgeons, interventional neuroradiologists, and specialized clinicians, who are proficient in performing neurointerventional procedures.
Healthcare reform efforts to enhance patient access to quality care and improve patient outcomes are expected to drive the adoption of neurointerventional procedures and Device.
Growing patient awareness of neurological conditions and available treatment options, including minimally invasive neurointerventional procedures, can boost demand. Germany's universal healthcare system ensures that many patients have access to insurance coverage for medical procedures, including neurointerventional treatments.
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The below table highlights how neurovascular thrombectomy Device segment is projected to lead the market in terms of product, and is expected to expand at a CAGR of 4.6% through 2033.
The hospitals segment of end-user is likely to spearhead sales, and is expected to expand at a CAGR of 4.5% through 2033.
| Category | CAGR (in 2033) |
|---|---|
| Neurovascular Thrombectomy Device | 4.6% |
| Hospitals | 4.5% |
Based on product, the neurovascular thrombectomy Device segment is expected to continue dominating the neurointerventional Device industry.
The rising prevalence of ischemic strokes, often caused by blood clots or thrombi in the cerebral vessels, drives the demand for neurovascular thrombectomy Device for clot removal. Ongoing advancements in thrombectomy techniques, including the development of stent retrievers and other minimally invasive Device, improve the effectiveness of clot removal, leading to higher demand.
Neurovascular thrombectomy Device have been shown to significantly improve patient outcomes by reducing disability and mortality rates, making them a preferred treatment option. The expansion of telestroke programs and regional stroke centers increases access to thrombectomy procedures, enhancing the market.
Government initiatives and healthcare policies aimed at reducing the burden of stroke and improving access to thrombectomy procedures support market growth. Ongoing research into new thrombectomy Device and techniques leads to the development of more effective and efficient Device.
Based on end-user, the hospitals segment is expected to continue dominating the neurointerventional Device industry. Hospitals are equipped with advanced imaging facilities, specialized operating rooms, and a skilled medical workforce, making them ideal for performing complex neurointerventional procedures. Neurological conditions often require specialized care from neurosurgeons, interventional neuroradiologists, and neurologists, which is readily available in hospital settings.
Hospitals are primary destinations for emergency neurological cases such as stroke and aneurysm rupture, where timely intervention is critical. Hospitals typically have access to high-quality imaging equipment such as MRI, CT, and angiography machines, which are essential for accurate diagnosis and treatment planning in neurointerventional procedures.
Hospitals can provide comprehensive care by offering a range of services, from diagnosis and treatment to post-procedural care and rehabilitation, promoting patient continuity. Hospitals often engage in clinical research, allowing for the incorporation of the latest neurointerventional Device and techniques into patient care.
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.
| Attribute | Details |
|---|---|
| Estimated Market Size in 2023 | USD 2.6 billion |
| Projected Market Valuation in 2033 | USD 4.1 billion |
| Value-based CAGR 2023 to 2033 | 4.7% |
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | Value in USD billion |
| Key Regions Covered | North America ; Latin America ; Western Europe ; Eastern Europe ; South Asia and Pacific ; East Asia ; The Middle East & Africa |
| Key Market Segments Covered | Product , Technique , End-User , Region |
| Key Countries Profiled |
The United States ; Canada ; Brazil ; Mexico ; Germany ; France ; France ; Spain ; Italy ; Russia ; Poland ; Czech Republic ; Romania ; India ; Bangladesh ; Australia ; New Zealand ; China ; Japan ; South Korea ; GCC countries ; South Africa ; Israel |
| 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 |
The neurointerventional Device market is expected to reach US$ 2.6 billion in 2023.
The market for neurointerventional Device is set to expand by a CAGR of 4.7% by 2033.
The neurointerventional Device industry is forecast to reach US$ 4.1 billion by 2033.
The United States is likely to be the top performing market, and to expand at a CAGR of 4.6% through 2033.
Neurovascular thrombectomy device segment is preferred, and is expected to expand at a CAGR of 4.6% through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Embolic Coils 5.2. Carotid Stents 5.3. Intracranial Stents 5.4. Neurovascular Thrombectomy 5.5. Embolic Protection Devices 5.6. Flow Diverters Devices 5.7. Intrasaccular Devices 5.8. Liquid Embolic 5.9. Balloons 5.10. Stent Retrievers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Technique 6.1. Neurothrombectomy Procedure 6.2. Cerebral Angiography 6.3. Stenting 6.4. Coiling Procedures 6.5. Flow Disruption 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Hospitals 7.2. Ambulatory Surgical Centers 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Stryker Corporation 18.2. Penumbra Inc. 18.3. Covidien Public Limited 18.4. Johnson & Johnson Private Limited 18.5. Terumo Corporation 18.6. Insera Therapeutics Inc 18.7. Anaconda Biomed S.L. 18.8. NeuroVasc Technologies 18.9. Perflow Medical Ltd. 19. Assumptions & Acronyms Used 20. Research Methodology
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Neurointerventional Device Market
