Neurointerventional Devices Market Latest Developments and Innovations Across the Industry
According to a new report from Future Market Insights (FMI), the global Neurointerventional Devices Market will grow at a 4.7% CAGR through 2030. According to the study, the market will be worth $3.6 billion by the end of 2030.
Data Points |
Market Insights |
Market Value 2021 |
US$ 2.4 Bn |
Market Value 2022 |
US$ 2.5 Bn |
Market Value 2030 |
US$ 3.6 Bn |
CAGR 2022-2030 |
4.7% |
Market Share of Top 5 Countries |
72.5% |
Key Market Players |
Stryker Corporation, Penumbra Inc., Covidien Public
Limited, |
The prevalence of neurological disorders has more than
tripled in recent years. According to the National Center for Biotechnology
Information (NCBI), the prevalence of cerebral aneurysm is nearly 3.2%, with
women being more likely than men over the age of 50.
It is estimated that approximately 6.5 million people in
the United States have an unruptured brain aneurysm, with 30,000 experiencing a
rupture each year. Based on these trends, it is not surprising to see the
market dotted with the presence of several reputable manufacturers who are
constantly launching new products.
Furthermore, the rising prevalence of ischemic stroke is
driving the neurointerventional devices market. Because these devices are
non-invasive, they increase the chances of survival during surgery, fueling
market growth. The market is expected to be worth $3.6 billion by 2030.
Global Neurointerventional Devices Market- Key
Takeaways
- North
America shall be the market hegemon, holding a 40.7% market share from
2020-2030
- Embolic
coils to capture the majority share, carotid stents to surge in popularity
- High
incidence of cerebral aneurysm to accelerate adoption of coiling
procedures
- Presence
of experienced surgeons shall accelerate hospital-grade
neurointerventional device adoption
Scope of the Report
Attribute |
Details |
Forecast Period |
2022-2030 |
Historical Data Available for |
2013-2021 |
Market Analysis |
US$ Mn for Value |
Key Regions Covered |
North America, Latin America, Western Europe, Eastern
Europe, |
Key Countries Covered |
U.S., Canada, Brazil, Mexico, Germany, France, U.K.,
Italy, Spain, Nordic, |
Key Market Segments Covered |
Product, Technique, End User and Region |
Key Companies Profiled |
• Stryker Corporation |
Pricing |
Available upon Request |
COVID-19’s Impact on the Market
Several hospitals and clinics have reported complications in severely or
critically ill patients with co-morbidities due to neurological disorders.
COVID-19 may have an effect on both the central and peripheral nervous systems.
The virus enters the brain via the olfactory system or a hematogenous route.
Once inside, the virus has the potential to cause hypoxia and metabolic
abnormalities.
As a result, the neurointerventional devices market is
expected to stay afloat in the near term. Since April 2020, there has been a
significant increase in mechanical thrombectomies, with the majority of
patients seeking treatment for acute strokes caused by large vessel occlusions.
According to a series of case studies conducted on over 200
COVID-19 positive patients in Wuhan, China, 36.4% of patients experienced
neurologic symptoms such as acute cerebrovascular events, muscle injury, and
impaired consciousness. In this context, the market is primed for a short-term
adrenaline rush.
Competitive Intelligence
Stryker Corporation, Covidien Public Ltd., Penumbra Inc., Terumo Corporation,
Johnson & Johnson Private Limited, Medtronic PLC, Boston Scientific
Corporation, and Abbott are some of the landscape's influential vendors.
Players are emphasising business expansion through
partnerships, collaborations, mergers and acquisitions, and participation in
trade shows. Many of them are also collaborating with research institutions to
expand their research capabilities.
Stryker Corporation successfully launched its Surpass
Evolve flow diverter in the US market in August 2020 after receiving FDA
clearance. Since 2019, the device has been in use in Europe.
Penumbra Inc. will take part in the virtual Global
Embolization Symposium & Technologies 2020 Conference in September 2020.
The company hopes to broaden its reach and collaborate with other key players
to develop and launch new neurointerventional devices, thereby expanding its
current product portfolio.
Browse More@ https://www.futuremarketinsights.com/reports/neurointerventional-devices-market
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