The Neurovascular Devices or Interventional Neurology Market Size is valued at 3.06 Billion in 2023 and is predicted to reach 6.37 Billion by the year 2031 at a 9.86 % CAGR during the forecast period for 2024-2031.
Neurovascular conditions encompass intracranial aneurysms, ischemic stroke, subarachnoid hemorrhage, cavernous malformations, arteriovenous malformations, carotid disease, intracerebral hemorrhage, and moyamoya disease. Neurovascular devices treat a blood vessel or blood flow that impairs brain and nervous system function.
Multiple factors drive the growth of the neurovascular devices or interventional neurology market, including the increasing prevalence of neurovascular diseases, the development of new neurovascular devices, improved medical reimbursement policies, rising demand for safe and effective neurovascular devices, a well-established healthcare infrastructure, and an increase in research and development activities for neurovascular therapies. Besides this, growing patient demand for minimally invasive treatments results in the innovation and launch of neurovascular devices, which is likely to drive the growth of the neurovascular devices market. For instance, in August 2020, Stryker Corporation (US) launched the Surpass Evolve Flow Diverter and received U.S. FDA approval for the same. This diverter is the first 64-wire cobalt-chromium flow diverter in the U.S. designed to re-direct blood flow and promote aneurysm healing. However, the elevated cost of neurovascular devices and treatments may restrain the market’s growth.
Market Segmentation
The neurovascular devices or interventional neurology market is classified based on the products, end-users, and region. The products segment is categorized into aneurysm coiling & embolization devices (embolic coils, flow diversion devices, liquid embolic agents), cerebral balloon angioplasty & stenting systems (carotid artery stents, embolic protection, balloon catheters), support devices (microcatheters and guidewires), and neurothrombectomy devices (clot retrievals, suction & aspiration, snares). By end-users, the market is segmented into hospitals & surgical centres, ambulatory care centres, and research laboratories & academic institutes. The hospitals & surgical centres segment is estimated to proliferate in the coming years due to the rising surgical operations and better reimbursement policies for hospital-based interventions. Geographically, the market is studied across North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
North America is projected to witness lucrative growth in this market during the forecast period due to the well-developed healthcare facilities and rising prevalence of stroke & chronic diseases in this region.
Competitive Landscape
Some Major Key Players In The Neurovascular Devices Or Interventional Neurology Market:
- Johnson & Johnson
- Medtronic PLC
- Stryker Corporation
- Terumo Corporation
- Penumbra, Inc.
- Microport Scientific Corporation
- Kaneka Corp.
- Integer Holdings Corporation
- Balt
- Perflow Medical
- Phenox GmbH
- Sensome
- Evasc
- Rapid Medical
- Asahi Intecc Co. Ltd
- Acandis GmbH
- Medikit Co. Ltd
- Imperative Care
- Lepu Medical
- Cerus Endovascular
- MicroVention, Inc.
- Mizuho Medical
- Peter Lazic GmBH
- Spartan Micro
- Emboflu
- Straub Medical AG
- AngioDynamics
- Microbot Medical Inc.
Neurovascular Devices or Interventional Neurology Market Report Scope
Report Attribute |
Specifications |
Market Size Value In 2023 |
USD 3.06 Billion |
Revenue Forecast In 2031 |
USD 6.37 Billion |
Growth Rate CAGR |
CAGR of 9.86 % from 2024 to 2031 |
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
Historic Year |
2019 to 2023 |
Forecast Year |
2024-2031 |
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
Segments Covered |
Products, End-User |
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
Competitive Landscape |
Johnson & Johnson (US), Medtronic PLC (Ireland), Stryker Corporation (US), Terumo Corporation (Japan), Penumbra, Inc. (US), Microport Scientific Corporation (China), Kaneka Corp. (Japan), Integer Holdings Corporation (US), Balt (France), Perflow Medical (Israel), Phenox GmbH (Germany), Sensome (France), Evasc (Canada), Rapid Medical (Israel), Asahi Intecc Co. Ltd (Japan), Acandis GmbH (Germany), Medikit Co. Ltd (Japan), Imperative Care (US), Lepu Medical (China), Cerus Endovascular (US), MicroVention, Inc. (US), Mizuho Medical (Japan), Peter Lazic GmBH (Germany), Spartan Micro (US), Emboflu (Switzerland), Straub Medical AG (Switzerland), AngioDynamics (US), Microbot Medical Inc. (US) and others.
Companies Mentioned |
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |