The global Neurovascular Devices Market was valued at USD 3.01 billion in 2023 and is projected to reach USD 4.81 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.05% over the forecast period from 2024 to 2031. The increasing prevalence of neurovascular disorders, such as strokes and aneurysms, coupled with advancements in minimally invasive surgery techniques, is expected to drive significant growth in the neurovascular devices market.
Market Overview
Neurovascular devices are used in the treatment of various disorders affecting the brain’s blood vessels, including strokes, aneurysms, and arteriovenous malformations (AVMs). These devices, including embolization devices, stents, catheters, and clot retrievers, play a crucial role in preventing and treating life-threatening conditions by restoring blood flow and repairing damaged vessels. As the global burden of neurovascular diseases continues to rise, the demand for advanced treatment options is fueling the adoption of neurovascular devices.
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Key Market Drivers
Rising Prevalence of Neurovascular Disorders: The growing incidence of neurovascular diseases, including strokes, aneurysms, and AVMs, is one of the key factors driving demand for neurovascular devices. With an aging population and increasing risk factors such as hypertension and diabetes, the need for effective treatment options is rising.
Advancements in Minimally Invasive Surgery: Ongoing advancements in minimally invasive surgical techniques are improving patient outcomes and reducing recovery times. Neurovascular devices used in endovascular procedures, such as stents and embolic coils, are becoming increasingly popular as they offer less invasive treatment options compared to traditional open surgeries.
Increasing Adoption of Embolization Devices and Stents: Embolization devices and stents are among the most widely used neurovascular devices for the treatment of conditions like aneurysms and ischemic strokes. The growing adoption of these devices, along with continuous technological innovations, is driving the growth of the neurovascular devices market.
Growing Awareness and Early Diagnosis: Increasing awareness about neurovascular disorders and advancements in diagnostic technologies are leading to earlier diagnosis and treatment, improving patient outcomes. This is contributing to the demand for neurovascular devices used in both preventive and emergency care.
KEY MARKET SEGMENTATION:
By Device Type
Cerebral Embolization and Aneurysm Coiling Devices
Embolic Coils
Liquid Embolic Agents
Flow Diverters
Cerebral Angioplasty and Stenting Systems
Embolic Protection Devices
Carotid Artery Stents
Neurothrombectomy Devices
Clot Retrieval Devices
Vascular Snares
Suction Devices
Support Devices
Micro Guidewires
Micro Catheters
By Therapeutic Application
Stroke
Cerebral Artery Stenosis
Cerebral Aneurysm
Aneurysmal Subarachnoid Hemorrhage
Others
KEY PLAYERS:
Some of the major key players are as follows: Johnson and Johnson Services Inc., Penumbra, Inc., Microport Scientific Corporation, Stryker, Microvention Inc (Terumo Corporation), Codman Neuro (Integra Lifesciences), Medtronic, and other players.
Conclusion
The neurovascular devices market is expected to experience steady growth over the forecast period, driven by the rising prevalence of neurovascular disorders, advancements in minimally invasive surgery, and the growing adoption of embolization devices and stents. As healthcare providers continue to seek innovative treatment options, the market presents significant opportunities for key players in the industry.
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Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Neurovascular Devices Market Segmentation, By Device Type
9. Neurovascular Devices Market Segmentation, By Therapeutic Application
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Conclusion
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