Market Overview

Global Neurovascular Devices Market size was valued at around 3.01 billion in 2023 and is expected to reach a value of USD 5.12 billion by 2032, at a CAGR of 6.1% over the forecast period (2024–2032).

The Forecast Period of Neurovascular Devices Market

The rise in incidence of neurovascular diseases, development of medical technology, and greater interest in minimally invasive therapy are the main driving forces behind the market. The need for effective therapies grows with the rate of occurrence of conditions like stroke, brain aneurysm, and arteriovenous malformation (AVM).

Interventional neurology equipment is utilized for the diagnosis and treatment of central nervous system and brain vascular system disorders. Endovascular, catheter-based, angiography, and fluoroscopy interventions are done under interventional neurology. Catheter angiography, which is one of the oldest in-vivo brain vascular imaging modalities, is utilized to diagnose some of the various neurological disorders, such as arteriovenous fistula, cerebral aneurysm, arteriovenous malformations, arteriovenous fistula, and vasculitis.

The demand for neurovascular devices is driven largely by the rising number of cases of neurovascular disease, for example, aneurysms and strokes. The diseases are treated using a variety of neurovascular devices such as flow diversion coils, microcatheters, and clot retrieval devices. Over 12.2 million new strokes happen every year, and about 25% of people older than 25 will have a stroke in their lifetime, according to the World Stroke Organization's (WSO) 2022 Global Stroke Fact Sheet.

Statistics provided by the Brain Aneurysm Foundation during August 2024 reveal that nearly 30,000 Americans experience a ruptured brain aneurysm each year and that nearly 6.8 million people harbour an unruptured brain aneurysm. Therefore, the vast majority of patients undergoing neurovascular illnesses and the gradual growth in acceptance of neurovascular devices for curing such illnesses is anticipated to make the market flourish in the following years.

Firms are creating neurovascular devices with innovative technologies. For example, Penumbra introduced the BMX 81 and BMX 96 brain access catheters in Europe in June 2024. For stability and trackability, the catheters are made using laser-cut stainless steel hypo tube technology. Throughout the forecast period, such product development through cutting-edge technology will propel market growth.

Key Findings:

• In May 2024, Penumbra, Inc. announced that three of its neurovascular reperfusion catheters—the Red 78, Red 43, and Red 72 with SENDit Technology—for the treatment of acute ischaemic strokes have been approved with the CE Mark and are now available in Europe.
• In April 2024, In Europe, CERENOVUS, Inc. launched the CEREGLIDE 71 Aspiration Catheter, which is beneficial in revascularizing patients who have suffered from an acute ischaemic stroke.
• In September 2023, Terumo Corporation received 510(k) clearance from the FDA for their Sofia EX 5Fr 115cm cerebral support catheter to be used with trans-radial access.

Market Drivers

Growing prevalence of neurovascular diseases

• Interventional treatment techniques are utilized for enhanced neurological disease diagnosis, monitoring, and treatment because of their proven clinical efficacy. The vast and rapidly growing patient population base for target disorders in the large markets is largely accountable for the significant adoption of neurovascular devices. The World Stroke Organisation approximates that 7.6 million new cases of ischaemic stroke were identified worldwide in 2022. Because of the increased prevalence of obesity, high blood pressure, smoking, and aging patient population, an even higher proportion of the global population is exposed to contracting neurovascular diseases. According to the CDC, following the age of 55 years, the likelihood of experiencing a stroke doubles every decade. Throughout the next few years, all these reasons are predicted to raise the demand for neurovascular interventional devices.

Market Opportunities

Rising number of research activities for neurovascular therapies

• As a result of the growing clinical research activity in the area of neurovascular therapies, which yields consistent clinical data on their safety and efficacy profiles, there is a growing need for neurovascular devices among the key stakeholders across the globe. Also, the number of industry-academia collaborations and investments in clinical trials for the development and commercialisation of new and therapeutically differentiated neurovascular products is being fuelled by patients' growing focus on effective, precise, and timely diagnoses of target diseases. Oxford Endovascular (UK), an EIT Health-backed start-up, raised USD 10 million in 2021 to support the development of innovative neurovascular devices for the treatment of ischaemic stroke.

Market Restraining Factors

High procedural cost of neurovascular surgeries and associated products

• One of the primary reasons inhibiting the global market is the expense of neurovascular surgical devices and procedures, especially in developing countries with lenient reimbursement policies. The use of these devices is also limited by maintenance fees and other indirect charges associated with them, which increase the overall cost of ownership. Just a limited number of patients in underdeveloped countries can pay for neurological therapy owing to unaffordable costs and an inefficient payment system. The market is hence limited because health facilities are not willing to make investments in new or technologically advanced technologies.

Key Findings:

As Per American Health Association:

• Women accounted for 37.4% of participants in trials, based on an analysis of 281 randomised controlled stroke trials involving a total of more than 580,000 individuals. This resulted in a calculated participation/prevalence ratio of 0.84.7. Similarly, another study involving 115 randomised controlled trials with nearly 120,000 participants including patients with stroke and/or transient ischaemic attack concluded that women were underenrolled by 5.3 percentage points.
• Age differences have also been reported in analyses of data from population-based registries and randomised controlled trials in high-income countries. The median age of patients included in the randomised controlled trials was 4 years lower than that of the population-based studies, and the mean was 7 years lower, based on a comparison of more than 11,500 patients from 29 acute stroke therapy randomised controlled trials with more than 38,000 patients from 36 population-based registries.9. Such studies suggest the potential under-representation of older patients with stroke in stroke trials, although complications such as age-related differences in the aetiology of stroke may influence trial entry.

Segmentation Analysis

The market scope is segmented because of by Device, by Therapeutic Size (in Inches), by Size (in Inches), By End-use.

• By Device

Based on the Device of the market is segmented into Cerebral Embolization and Aneurysm Coiling Devices, Cerebral Angioplasty and Stenting Systems, Neurothrombectomy Devices, Support Devices, Trans Radial Access Devices.

The largest market share, approximately 36.02%, was accounted for by cerebral embolization and aneurysm coiling devices in 2024. Coil embolization is a minimally invasive method for aneurysm treatment where the material plugs the sac and reduces the likelihood of bleeding. The groin is utilized to navigate a steerable catheter to the brain. The segment is expected to increase over the forecast period owing to the increasing prevalence of aneurysms. These products are classified further into three categories: liquid embolic agents, flow diversion devices, and embolic coils. For instance, Luidx Medical Technologies, Inc. in January 2023 reported that the Embolic IMPASS Device was successful in an in-vivo study of meningeal middle artery (MMA) embolization. Chronic subdural haematomas on the surface of the brain can be treated with this. Minimally invasive MMA embolization can be done through catheter-based in lieu of surgery.

• By Therapeutic Size (in Inches)

Based on the Therapeutic Size (in Inches) of the market is segmented into Stroke, Cerebral Artery, Cerebral Aneurysm, Others.

The growing incidence of stroke, hypertension, and other neurological conditions were reasons behind stroke's leadership market share of around 56.86% in 2024. Out of every six individuals worldwide, one will experience a stroke in their lifetime, and over 795,000 Americans suffer one annually, the CDC reports. Approximately 140,000 people die of stroke annually in the United States, making them the second most common cause of death in the world. Different government programs have been implemented around the world to help prevent stroke. The market also increases as the focus on the minimally invasive methods of treating stroke continues, which normally recover faster and see fewer hospital stays than open surgery. Neurovascular procedures are becoming safer and more precise as a result of technological advances like real-time imaging and advanced robots, which also enable medical experts to feel more confident to undertake difficult procedures. In addition, market expansion is driven by launching technologically advanced products. Infinity Neuro, for example, revealed in January 2023 that its Inspira aspiration catheters had received CE Mark approval and were now on the market in Europe. This is the company's first product; Infinity Neuro plans to release a range of solutions for the treatment of haemorrhagic and ischaemic strokes in 2023 and beyond.

• Regional Snapshots

By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. Attributed largely to the presence of key manufacturers such as Johnson & Johnson, Merit Medical Systems, Inc., Stryker Corporation, and Penumbra, Inc., the North American neurovascular devices market accounted for a 27.62% market share in 2024. Phenox Inc. made an announcement in February 2023 that their preset thrombectomy device was FDA cleared to treat acute ischaemic stroke. Having been marketed in Europe for over a decade, the product pRESET has lately gained approval in the United States. In addition, the business expansion in the region is spearheaded by increased demand for minimal invasive surgical treatments as well as the increased number of neurological diseases.

U.S. Neurovascular Devices Market Trends

The rising incidence of cerebrovascular disorders such as strokes, aneurysms, and arteriovenous malformations is propelling the United States neurovascular devices market. The growing population and rising incidence of lifestyle diseases such as diabetes and hypertension are mainly propelling the demand for neurovascular treatment. such as, innovation in minimally invasive devices such as embolic coils, stent retrievers, and flow diverters, improve patient outcomes and propel market growth. Regulatory agencies like the FDA foster innovation by giving quicker approval for new products. Growth is fuelled through interaction among medical professionals and device companies, initiated by collaborative agreements to develop innovative solutions.

Europe Neurovascular Devices Market Trends

The European neurovascular devices market is growing extensively. An aging population is propelling the industry, and the rapid development of technical innovations in reconstruction surgery are likely to drive worldwide growth. Growth in the number of CMF procedures and increased use of technologically advanced devices are likely to drive market growth. Two of Europe's largest markets are the UK and Germany. But the lack of encouraging reimbursement policies in Europe's emerging economies is holding back market growth over the forecast period.

The German neurovascular devices market is growing considerably. Rising incidence of acute ischaemic stroke, thereby increasing the number of mechanical thrombectomy procedures, and widespread use of advanced technologically equipped devices are some of the most important drivers in the German neurovascular devices market in the forecast period. Some other key segments that are expected to drive the market growth in Germany during the forecast period include an increase in mechanical thrombectomy procedures and a strong need for technologically advanced products. For instance, based on research that was published in NCBI, there are around 2 million individuals in Germany who are affected by an unruptured intracranial aneurysm. In addition, a population survey of two German cities in January 2023 reported the prevalence of Traumatic Brain Injury (TBI) to be 13 and 17 cases per 100,000 individuals, as reported by S. Karger AG.

Asia Pacific Neurovascular Devices Market Trends

As a result of several factors such as the large incidence of neurological diseases, rapid growth of medical infrastructure, and access to cutting-edge technologies, the Asia Pacific neurovascular devices market is developing rapidly. Additionally, there are expected to be significant regional growth opportunities in the market owing to the large patient population with brain aneurysms and strokes and the increased demand for advanced and cost-effective healthcare solutions.

List of Companies Profiled

• Medtronic
• Stryker Corporation
• Terumo Corporation
• Penumbra, Inc.
• Johnson & Johnson Services, Inc.
• Integra LifeSciences Corporation
• Acandis GmbH
• Spiegelberg GmbH & Co. KG
• MicroPort Scientific Corporation
• ZYLOX-TONBRIDGE MEDICAL TECHNOLOGY CO., LTD.

Key Industry Developments

• In September 2024, EMBOGUARD, the next-generation balloon guide catheter, was launched by CERENOVUS, Inc. to treat patients with acute ischaemic stroke.
• In June 2024, Terumo Corporation launched the LVIS EVO Intraluminal Support Device for wide-neck intracranial aneurysm treatment in the U.S. market.

Report Coverage

The report will cover the qualitative and quantitative data on the global Neurovascular Devices Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations

Global Neurovascular Devices Market Regional Analysis

North America accounted for the highest xx% market share in terms of revenue in the Neurovascular Devices market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Neurovascular Devices. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Neurovascular Devices companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global Neurovascular Devices Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

Neurovascular Devices Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions:

• How much the global Neurovascular Devices Market valued?
• Which region has the largest share in 2024 for the global Neurovascular Devices Market?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of Neurovascular Devices Market

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

Neurovascular Devices Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: