The global neurovascular device market accounted for USD 3.07 billion in 2023 and is expected to reach USD 5.86 billion by 2034 with a CAGR of 6.07% during the forecast period 2024-2034. The market will grow due to factors such as the increasing prevalence of neurovascular diseases, the growing use of minimally invasive procedures, increased research and development activities, and an increase in strategic alliances and collaborations.
Open surgery, a difficult and intrusive process, was the standard of care for neurovascular disorders. However, the use of neurovascular devices in minimally invasive operations is growing in popularity. Compared to open surgery, these methods have several benefits, including fewer problems, faster recovery periods, and smaller incisions. For instance, in October 2022, Medtronic plc launched the Neurovascular Co-Lab Platform to spur innovation in stroke treatment and care.
By device, the Cerebral Embolization and Aneurysm Coiling Devices segment accounted for the highest revenue-grossing segment in the global neurovascular device market in 2023 owing to the increasing adoption of minimally invasive procedures, advancements in device technology, and rising prevalence of cerebral embolization and intracranial aneurysms worldwide. For instance, Penumbra, Inc. (September 2022) expanded its product reach by introducing RED reperfusion catheters for stroke therapy throughout Europe. Additionally, the Neurothrombectomy Devices segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidence of ischemic strokes, expanding the availability of stroke centers equipped with neuro-interventional capabilities, and increasing awareness of the benefits of mechanical thrombectomy for acute stroke treatment.
By therapeutic application, the stroke segment accounted for the highest revenue-grossing segment in the global neurovascular device market in 2023 owing to the increasing prevalence of strokes, rising demand for timely and effective stroke treatment options, and advancements in neurovascular devices for stroke management. For instance, Penumbra, Inc. expanded its product reach in September 2022 when it introduced RED reperfusion catheters for stroke care in Europe. Additionally, the arteriovenous malformations (AVMs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing awareness of arteriovenous malformations (AVMs), advancements in neurovascular imaging and treatment techniques, and increasing focus on minimally invasive procedures for AVM management.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global neurovascular device market in 2023 owing to the increasing demand for neurovascular procedures in hospital settings, rising investments in healthcare infrastructure, and expanding access to specialized neuro-interventional facilities. For instance, in February 2022, Johnson & Johnson introduced the EMBOGUARD balloon guide catheter to treat acute ischemic stroke. Additionally, the specialty clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing preference for specialized neurovascular care, increasing availability of advanced neuro interventional procedures in specialty clinics, and rising focus on outpatient treatment options for neurological disorders.
North American region is anticipated to have the highest revenue share in 2023 owing to the robust demand for neurovascular devices, significant investments in healthcare infrastructure, advanced research and development activities, and a large patient population with neurological disorders in the North American region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing healthcare expenditure, rising awareness about neurovascular disorders, expanding access to advanced medical technologies, and growing demand for minimally invasive procedures in the Asia Pacific region. For instance, in June 2022, MicroPort Scientific Corporation completed the first commercial deployment of its Numen Coil Embolization System in the United States.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Open surgery, a difficult and intrusive process, was the standard of care for neurovascular disorders. However, the use of neurovascular devices in minimally invasive operations is growing in popularity. Compared to open surgery, these methods have several benefits, including fewer problems, faster recovery periods, and smaller incisions. For instance, in October 2022, Medtronic plc launched the Neurovascular Co-Lab Platform to spur innovation in stroke treatment and care.
By device, the Cerebral Embolization and Aneurysm Coiling Devices segment accounted for the highest revenue-grossing segment in the global neurovascular device market in 2023 owing to the increasing adoption of minimally invasive procedures, advancements in device technology, and rising prevalence of cerebral embolization and intracranial aneurysms worldwide. For instance, Penumbra, Inc. (September 2022) expanded its product reach by introducing RED reperfusion catheters for stroke therapy throughout Europe. Additionally, the Neurothrombectomy Devices segment is predicted to grow at the fastest CAGR during the forecast period owing to the rising incidence of ischemic strokes, expanding the availability of stroke centers equipped with neuro-interventional capabilities, and increasing awareness of the benefits of mechanical thrombectomy for acute stroke treatment.
By therapeutic application, the stroke segment accounted for the highest revenue-grossing segment in the global neurovascular device market in 2023 owing to the increasing prevalence of strokes, rising demand for timely and effective stroke treatment options, and advancements in neurovascular devices for stroke management. For instance, Penumbra, Inc. expanded its product reach in September 2022 when it introduced RED reperfusion catheters for stroke care in Europe. Additionally, the arteriovenous malformations (AVMs) segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing awareness of arteriovenous malformations (AVMs), advancements in neurovascular imaging and treatment techniques, and increasing focus on minimally invasive procedures for AVM management.
By end-user, the hospital's segment accounted for the highest revenue-grossing segment in the global neurovascular device market in 2023 owing to the increasing demand for neurovascular procedures in hospital settings, rising investments in healthcare infrastructure, and expanding access to specialized neuro-interventional facilities. For instance, in February 2022, Johnson & Johnson introduced the EMBOGUARD balloon guide catheter to treat acute ischemic stroke. Additionally, the specialty clinics segment is predicted to grow at the fastest CAGR during the forecast period owing to the growing preference for specialized neurovascular care, increasing availability of advanced neuro interventional procedures in specialty clinics, and rising focus on outpatient treatment options for neurological disorders.
North American region is anticipated to have the highest revenue share in 2023 owing to the robust demand for neurovascular devices, significant investments in healthcare infrastructure, advanced research and development activities, and a large patient population with neurological disorders in the North American region. Additionally, the Asia Pacific region is predicted to grow at the fastest CAGR during the forecast period owing to the increasing healthcare expenditure, rising awareness about neurovascular disorders, expanding access to advanced medical technologies, and growing demand for minimally invasive procedures in the Asia Pacific region. For instance, in June 2022, MicroPort Scientific Corporation completed the first commercial deployment of its Numen Coil Embolization System in the United States.
This extensive research report concentrates on the size and projections of the global and regional markets from 2023 to 2034.
Report Scope:
- Base Year: 2023
- Forecast Period: 2024-2034
- Study Coverage
- Market Forecast by Device, Therapeutic Application, and End-User
- Market Forecast for 5 Regions and 17+ Countries
- North America (U.S. and Canada)
- Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe)
- Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC)
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM)
- MEA (South Africa, GCC, Rest of MEA)
- Exhaustive Company Profiles of the Top 10+ Major Market Players
Segmentation: Neurovascular Device Market Report 2023 - 2034
Neurovascular Device Market Analysis & Forecast by Device 2023 - 2034 (Revenue USD Bn)
- Cerebral Embolization and Aneurysm Coiling Devices
- Embolic coils
- Flow diversion devices
- Liquid embolic agents
- Cerebral Angioplasty and Stenting Systems
- Carotid artery stents
- Embolic protection
- Neurothrombectomy Devices
- Clot retrieval devices
- Suction devices/aspiration catheters
- Vascular snares
- Support Devices
- Micro catheters
- Micro guidewires
- Trans Radial Access Devices
Neurovascular Device Market Analysis & Forecast by Therapeutic Application 2023 - 2034 (Revenue USD Bn)
- Stroke
- Cerebral Artery
- Arteriovenous Malformations
- Fistulas
- Cerebral Aneurysm
- Others
Neurovascular Device Market Analysis & Forecast by End-User 2023 - 2034 (Revenue USD Bn)
- Hospitals
- Specialty Clinics
- Research Laboratories
- Academic Institutes
- Others
Neurovascular Device 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 Device Market: Device Estimates & Trend Analysis
8. Neurovascular Device Market: Therapeutic Application Estimates & Trend Analysis
9. Neurovascular Device Market: End-User Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Neurovascular Device Market
12. Europe Global Neurovascular Device Market
13. Asia Pacific Global Neurovascular Device Market
14. Latin America Global Neurovascular Device Market
15. MEA Global Neurovascular Device Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- Medtronic plc
- Stryker Corporation
- Johnson & Johnson (including Codman Neuro)
- Penumbra Inc.
- Terumo Corporation
- MicroPort Scientific Corporation
- Abbott Laboratories (Abbott Vascular)
- Integer Holdings Corporation
- Merit Medical Systems Inc.
- Balt Extrusion S.A.
- W. L. Gore & Associates Inc.
- Cook Medical Incorporated
- Acandis GmbH
- Phenox GmbH
- Rapid Medical.
