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Neurovascular Devices Market Size

Report ID: GMI794
Published Date: Apr 2023
Report Format: PDF

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Neurovascular Devices Market Size

Neurovascular Devices Market size reached USD 3.9 billion in 2022 and is estimated to witness 6.5% CAGR between 2023 and 2032. Mounting incidences of ischemic strokes to strengthen the business outlook.

Neurovascular Devices Market

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A remarkable surge in incidences of ischemic strokes and brain aneurysm across North America will enhance market performance over the next ten years. Besides, the growing prevalence of several neurological disorders will further add to market progress. For instance, according to a recent study published in The Lancet, neurological disorders were among the most common sources of health loss in the EU28 and the WHO European region.

Neurovascular Devices Market Report Attributes
Report Attribute	Details
Base Year:	2022
Neurovascular Devices Market Size in 2022:	USD 3.9 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	6.5%
2032 Value Projection:	USD 7.5 Billion
Historical Data for:	2018 to 2022
No. of Pages:	462
Tables, Charts & Figures:	630
Segments covered:	Product, Process, Therapeutic Application, End-use and Region
Growth Drivers:	Increasing number of brain aneurysm and ischemic strokes in North America Rising demand for minimally invasive surgical procedures Technological advancement in neurovascular treatments Government initiatives to modernize healthcare infrastructure across the globe
Pitfalls & Challenges:	Need for designing more effective and low-cost treatments Challenges involved in commercialization of neurovascular devices across developing and underdeveloped economies

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Minimally invasive surgeries are witnessing a high acceptance rate due to their cosmetic appeal and shorter recovery periods, which may further streamline neurovascular devices market expansion. Consistent innovations and improvements have been introduced in surgical procedures to make them safer for patients. Minimally invasive surgery has become the standard for surgical interventions traditionally done with an open method or technique. These surgical procedures include laparoscopic surgery, endoscopic surgery as well as robot-assisted surgery. Such scenarios are expected to favor industry landscape.

Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for neurovascular devices was valued at USD 3.9 billion in 2022 and is poised to exhibit a 6.5% CAGR from 2023 to 2032 due to the surging prevalence of ischemic strokes and brain aneurysm across North America.

The neurovascular devices market from the flow diverters segment is estimated to witness a 7.5% CAGR through 2032, attributed to an increased cognizance of distinctive treatment options for intracranial aneurysm.

The ischemic stroke segment amassed over 40% of the global market share in 2022, given the growing prevalence of ischemic strokes and the rising popularity of minimally invasive procedures.

Notable firms in the neurovascular devices industry include Asahi Intecc Co. Ltd., Integer Holdings Corporation, Johnson & Johnson Services, Kaneka Medix Corp. Medtronic, MicroPort Scientific Corporation, Merit Medical System, Penumbra, Inc., Stryker, and Terumo Corporation.