The global neurovascular devices market size was estimated to be USD 3.09 billion in 2023 and is expected to reach at USD 6.08 billion by 2034 with a CAGR of 6.34% during the forecast period 2024-2034. Growing prevalence of neurological disorders, increasing technological developments, rising demand for minimally invasive procedures, surge in investment in research & development activities, growing launch of innovative minimally invasive surgical instruments, rising merger and acquisitions within market players, surge in approvals by regulatory bodies, and increasing number of clinical trial procedures are some of the key factors boosting the market growth.
Increasing number of clinical trial procedures is predicted to boost the market growth during the forecast period. Interventional neurology devices play a crucial role in both the diagnosis and treatment of disorders affecting the central nervous system and brain vasculature. These procedures involve endovascular techniques, catheter-based methods, as well as angiography and fluoroscopy. Among these techniques, catheter angiography stands out as one of the earliest in-vivo brain vascular imaging methods utilized for diagnosing a range of neurological conditions, including cerebral aneurysms, arteriovenous malformations, intracranial stenosis, arteriovenous fistulas, and vasculitis. For instance, in February 2023, EndoStream Medical, a company dedicated to creating treatments for brain aneurysms, has initiated the inclusion of the initial participant in the TORNADO-US clinical trial conducted in the United States.
By device, cerebral embolization and aneurysm coiling devices was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to increasing demand for minimally invasive procedures for the treatment of aneurysms, growing prevalence of aneurysm, and rising launch of advanced devices. For instance, in January 2023, The Embolic IMPASS Device for embolization of the meningeal middle artery (MMA) has demonstrated promising results in in-vivo studies, according to Fluidx Medical Technologies, Inc. This technique can be applied to address chronic subdural hematomas located on the brain's surface. Instead of surgical procedures, minimally invasive MMA embolization utilizing catheters can be utilized as an alternative approach. Additionally, neurothrombectomy devices is predicted to grow at fastest CAGR during the forecast owing to the surge in product launch, rising merger & acquisition, increasing prevalence of acute ischemic stroke.
By therapeutic, stroke was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to surge in prevalence of hypertension, stroke, & other neurological disorders, increasing government initiatives for the prevention of stroke, rising technologically advanced product launch, and growing mergers & acquisitions within market players. For instance, in January 2023, Infinity Neuro has revealed that its Inspira aspiration catheters have received the CE Mark clearance, permitting their sale in the European market. This marks the initial product offering from Infinity Neuro, with plans to introduce a comprehensive range of products for treating ischemic and hemorrhagic strokes throughout 2023 and beyond. Additionally, cerebral aneurysm is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cerebral aneurysm, growing number of clinical trial procedures, surge in introduction of technologically advanced products.
By size, 0.021" was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to the advantages associated with 0.021” devices, increasing product launches, and growing product approvals by regulatory bodies. Additionally, others is predicted to grow at fastest CAGR during the forecast period owing to the rising technological developments and increasing launch of novel devices. For instance, in February 2023, VESALIO has announced the initial successful application of its NeVa VS device in the United States for the management of cerebral vasospasm following post-aneurysmal subarachnoid hemorrhage (aSAH). Vasospasm represents the most prevalent complication arising from aSAH and is the primary contributor to mortality and health complications.
By end-user, hospital was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to rising number of patients suffering from neurovascular disorders, increasing demand for technologically advanced neurovascular catheters, surge in number of patients being admitted to hospitals, growing launch of technologically advanced products, and rising approvals by regulatory bodies. For instance, in July 2022, Rapid Medical, a prominent innovator of advanced neurovascular devices, has received FDA 510(k) clearance for TIGERTRIEVER™13, a device intended for treating large vessel blockages. This announcement was made at the 19th Annual Meeting of the Society of NeuroInterventional Surgery (SNIS) held in Toronto in 2022. TIGERTRIEVER 13 is recognized as the world's smallest revascularization device to date and is specifically engineered for thrombus removal in fragile brain blood vessels during ischemic strokes. Additionally, other is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of ASCs & other healthcare facilities, growing awareness regarding the availability & advantages of other medical facilities.
North America region is anticipated for the highest revenue share during the forecast period owing to the presence of key market players, growing demand for the minimally invasive surgical procedures, and rising approvals by regulatory bodies. For instance, in February 2023, Phenox Inc. has announced that the FDA has granted clearance for the utilization of their pRESET Thrombectomy Device in addressing acute ischemic stroke cases. After being available in the European market for over ten years, the product pRESET has now received approval for use in the United States. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing research expenditure by market players, surge in prevalence of neurological diseases, increasing healthcare expenditure, and rising initiatives by market players. For instance, in March 2022, India Medtronic Private Limited has unveiled the establishment of the first-ever registry in India solely dedicated to gathering real-world data concerning the utilization of revascularization devices in individuals diagnosed with acute ischemic stroke (AIS).
Increasing number of clinical trial procedures is predicted to boost the market growth during the forecast period. Interventional neurology devices play a crucial role in both the diagnosis and treatment of disorders affecting the central nervous system and brain vasculature. These procedures involve endovascular techniques, catheter-based methods, as well as angiography and fluoroscopy. Among these techniques, catheter angiography stands out as one of the earliest in-vivo brain vascular imaging methods utilized for diagnosing a range of neurological conditions, including cerebral aneurysms, arteriovenous malformations, intracranial stenosis, arteriovenous fistulas, and vasculitis. For instance, in February 2023, EndoStream Medical, a company dedicated to creating treatments for brain aneurysms, has initiated the inclusion of the initial participant in the TORNADO-US clinical trial conducted in the United States.
By device, cerebral embolization and aneurysm coiling devices was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to increasing demand for minimally invasive procedures for the treatment of aneurysms, growing prevalence of aneurysm, and rising launch of advanced devices. For instance, in January 2023, The Embolic IMPASS Device for embolization of the meningeal middle artery (MMA) has demonstrated promising results in in-vivo studies, according to Fluidx Medical Technologies, Inc. This technique can be applied to address chronic subdural hematomas located on the brain's surface. Instead of surgical procedures, minimally invasive MMA embolization utilizing catheters can be utilized as an alternative approach. Additionally, neurothrombectomy devices is predicted to grow at fastest CAGR during the forecast owing to the surge in product launch, rising merger & acquisition, increasing prevalence of acute ischemic stroke.
By therapeutic, stroke was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to surge in prevalence of hypertension, stroke, & other neurological disorders, increasing government initiatives for the prevention of stroke, rising technologically advanced product launch, and growing mergers & acquisitions within market players. For instance, in January 2023, Infinity Neuro has revealed that its Inspira aspiration catheters have received the CE Mark clearance, permitting their sale in the European market. This marks the initial product offering from Infinity Neuro, with plans to introduce a comprehensive range of products for treating ischemic and hemorrhagic strokes throughout 2023 and beyond. Additionally, cerebral aneurysm is predicted to grow at fastest CAGR during the forecast period owing to the rising prevalence of cerebral aneurysm, growing number of clinical trial procedures, surge in introduction of technologically advanced products.
By size, 0.021" was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to the advantages associated with 0.021” devices, increasing product launches, and growing product approvals by regulatory bodies. Additionally, others is predicted to grow at fastest CAGR during the forecast period owing to the rising technological developments and increasing launch of novel devices. For instance, in February 2023, VESALIO has announced the initial successful application of its NeVa VS device in the United States for the management of cerebral vasospasm following post-aneurysmal subarachnoid hemorrhage (aSAH). Vasospasm represents the most prevalent complication arising from aSAH and is the primary contributor to mortality and health complications.
By end-user, hospital was the highest revenue-grossing segment in the global neurovascular devices market in 2023 owing to rising number of patients suffering from neurovascular disorders, increasing demand for technologically advanced neurovascular catheters, surge in number of patients being admitted to hospitals, growing launch of technologically advanced products, and rising approvals by regulatory bodies. For instance, in July 2022, Rapid Medical, a prominent innovator of advanced neurovascular devices, has received FDA 510(k) clearance for TIGERTRIEVER™13, a device intended for treating large vessel blockages. This announcement was made at the 19th Annual Meeting of the Society of NeuroInterventional Surgery (SNIS) held in Toronto in 2022. TIGERTRIEVER 13 is recognized as the world's smallest revascularization device to date and is specifically engineered for thrombus removal in fragile brain blood vessels during ischemic strokes. Additionally, other is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of ASCs & other healthcare facilities, growing awareness regarding the availability & advantages of other medical facilities.
North America region is anticipated for the highest revenue share during the forecast period owing to the presence of key market players, growing demand for the minimally invasive surgical procedures, and rising approvals by regulatory bodies. For instance, in February 2023, Phenox Inc. has announced that the FDA has granted clearance for the utilization of their pRESET Thrombectomy Device in addressing acute ischemic stroke cases. After being available in the European market for over ten years, the product pRESET has now received approval for use in the United States. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing research expenditure by market players, surge in prevalence of neurological diseases, increasing healthcare expenditure, and rising initiatives by market players. For instance, in March 2022, India Medtronic Private Limited has unveiled the establishment of the first-ever registry in India solely dedicated to gathering real-world data concerning the utilization of revascularization devices in individuals diagnosed with acute ischemic stroke (AIS).
Segmentation: Neurovascular Devices Market Report 2023 - 2034
Neurovascular Devices Market Analysis & Forecast by Device 2023 - 2034 (Revenue USD Bn)
- Trans Radial Access Devices
- Neurothrombectomy Devices
- Suction Devices/Aspiration Catheters
- Clot Retrieval Devices
- Vascular Snares
- Cerebral Angioplasty And Stenting Systems
- Embolic Protection
- Carotid Artery Stents
- Cerebral Embolization And Aneurysm Coiling Devices
- Flow Diversion Devices
- Liquid Embolic Agents
- Embolic Coils
- Support Devices
- Micro Guidewires
- Micro Catheters
Neurovascular Devices Market Analysis & Forecast by Therapeutics 2023 - 2034 (Revenue USD Bn)
- Cerebral Artery
- Stroke
- Cerebral Aneurysm
- Aneurysmal Subarachnoid Hemorrhage
- Others
- Others
Neurovascular Devices Market Analysis & Forecast by Size 2023 - 2034 (Revenue USD Bn)
- 0.013"
- 0.017"
- 0.019"
- 0.021"
- 0.027"
- 0.058"
- 0.068"
- 0.071"
- Others
- 0.015”
- 0.060”
- 0.074”
- 0.84”
- 0.091”
Neurovascular Devices Market Analysis & Forecast by End-user 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Specialty Clinics
- Others
Neurovascular Devices Market Analysis & Forecast by Region 2023 - 2034 (Revenue USD Bn)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Neurovascular Devices Market: Device Estimates & Trend Analysis
8. Neurovascular Devices Market: Therapeutics Estimates & Trend Analysis
9. Neurovascular Devices Market: Size Estimates & Trend Analysis
10. Neurovascular Devices Market: End-user Estimates & Trend Analysis
11. Regional Market Analysis
12. North America Neurovascular Devices Market
13. Europe Global Neurovascular Devices Market
14. Asia Pacific Global Neurovascular Devices Market
15. Latin America Global Neurovascular Devices Market
16. MEA Global Neurovascular Devices Market
17. Competitor Analysis
18. Company Profiles
Companies Mentioned
- Stryker Corporation
- Integer Holdings Corporation
- Penumbra Inc.
- Johnson & Johnson (Cerenovus)
- B. Braun Melsungen Ag
- Terumo Corporation (Microvention Inc.)
- Microport Scientific Corporation
- Acandis Gmbh
- Medtronic Plc.
- Phenox Gmbh
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | January 2024 |
| Forecast Period | 2023 - 2034 |
| Estimated Market Value ( USD | $ 3.09 Billion |
| Forecasted Market Value ( USD | $ 6.08 Billion |
| Compound Annual Growth Rate | 6.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
