Global Neurovascular Devices Market CAGR To 7.02% by 2035 | Roots Analysis

In the dynamic landscape of neurovascular care, neurovascular devices have remarkably revolutionized the approach of treating and managing neurovascular disorders. These devices are selectively designed and developed to target the damaged blood vessel, without disrupting the normal vasculature. 

Further, the incorporation of advanced technologies such as 3D-imaging, robotics and artificial intelligence in neurovascular devices have assisted healthcare professionals to select and deliver highly precise treatments. With this minimally invasive and highly targeted strategy, neurovascular devices have significantly improved patient care outcomes.

Considering such promising outcomes, neurovascular devices companies are actively involved in developing more advanced devices, that have the ability to reduce the chances of complications associated with the treatment of neurovascular disorders.

According to Roots Analysis, the global neurovascular devices market size is projected to reach USD 7,011 million by 2035 from USD 3,325 million in current year, growing at a CAGR of 7.02% in the forecast period.

Market Segments 

Based on the type of device, the market is segmented into Neurothrombectomy Devices, Embolization Devices and Angioplasty Devices.

Neurothrombectomy Devices led the global neurovascular devices market, capturing the largest revenue share of more than 50% in the current year.

Embolization Devices is anticipated to show the highest growth rate of 8.90%, during the forecast period.

Based on the therapeutic application, the market is segmented into Ischemic stroke, Aneurysm, Stenosis and Arteriovenous Malformations (AVMs).

The neurovascular devices used for ischemic stroke led the global neurovascular devices market, capturing the largest revenue share of over 50% in the current year.

The neurovascular devices used for aneurysm are anticipated to show the highest growth rate of 9.14% during the forecast period.

Based on the end user, the market is segmented into Hospitals and Specialty Clinics, Ambulatory Care Centres and Other End users.

The Hospitals and Specialty Clinics led the global neurovascular devices market, capturing the largest revenue share of more than 70% in the current year.

The Ambulatory care Centres segment is anticipated to be the fastest growing segment in this industry, with an annualized rate of 12.73% during the forecast period.

Based on Regional Insights, the market is segmented into North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America.

North America dominated the global neurovascular devices market and accounted for the largest revenue share of around 50% in the current year.

In Middle East and North Africa, the global neurovascular devices market is anticipated to be the fastest growing segment in this industry, with an annualized rate of 9.98%, during the forecast period.

Regional Outlook

Based on the key geographical regions, the global neurovascular devices market can be segmented into five major regions, including North America, Europe, Asia-Pacific, Middle East and North Africa, and Latin America. Led by the US, North America is anticipated to capture the majority share of the global neurovascular devices market in the current year and this trend is likely to remain unchanged during the forecast period.

Further, the neurovascular devices domain in Middle East and North Africa is accounted to be the fastest-growing segment of the market. The growth of the neurovascular devices market in the region is driven by increased prevalence of neurovascular disorders resulting in a rise in the interest of various pharmaceutical companies towards the development of advanced and targeted devices.

Key Report Takeaways 

§  Presently around 50 device developers, worldwide, are engaged in developing neurovascular devices; around 70% of these devices are developed by mid-sized and small players headquartered in developed regions

§  Close to 90% of the neurovascular devices are already commercialized; these devices are minimally invasive with higher success rate for different neurovascular diseases treatment

§  In pursuit of building a competitive edge in this field, stakeholders are actively upgrading their existing capabilities and adding new devices in order to enhance their respective product portfolios

§  Given the various benefits of neurovascular devices in improving healthcare outcomes, numerous investors have extended financial support; over USD 1.5 billion has been invested in the past few years

§  Owing to the rising patient population of neurovascular diseases across the globe, there is an increasing demand for minimally invasive devices with higher success rates

§  The global neurovascular devices market is expected to be well distributed across different type of device, therapeutic application, end users, key geographical regions   and key leading players.

Global Neurovascular Devices Market Key Players 

Examples of key companies engaged in neurovascular devices market (which have also been profiled in this market report; the complete list of companies is available in the full report) include Acandis, Achieva Medical, Balt, HeMo Bioengineering, Johnson & Johnson, Medtronic Inc., MicroVention, Penumbra Inc., Phenox, Shanghai Heartcare Medical Technology, Stryker Corporation and Zylox-Tonbridge.

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