The global neurointerventional devices market was valued at US$ 2.79 billion in 2023 and is projected to reach US$ 5.35 billion by 2032, growing at a CAGR of 7.5% during the forecast period from 2024 to 2032.
Neurointerventional devices are specialized medical tools created for diagnosing and treating different neurological disorders using less invasive methods. These instruments are used in neurointerventional radiology, a specialized area that merges radiology and neurology to address issues impacting the brain, spine, and blood vessels in the central nervous system. Neurointerventional devices are employed for the diagnosis and evaluation of different neurological disorders like aneurysms, arteriovenous malformations (AVMs), strokes, and tumors.
Factors Influencing Market Growth
- The market growth is being driven by advancements in neuro-interventional devices, including the creation of new devices that offer better performance and safety.
- An increase in the frequency of neurological disorders is playing a key role in boosting the neurointerventional devices market.
- Neurointerventional devices are frequently expensive, and this high price could pose a challenge, particularly in areas with restricted healthcare funding or where patients may have limited availability to advanced healthcare services.
COVID-19 Impact Analysis
The COVID-19 pandemic impacted the neurointerventional devices market by reducing the availability of ICU beds and ventilation resources due to the need to delay non-urgent and/or complicated procedures. Additionally, according to the study, significant differences were observed in the handling of neuro interventions both during and after the pandemic. Therefore, it is anticipated that the market will quickly return to levels seen before the pandemic due to the reopening of healthcare facilities, a decrease in COVID-19 cases, and continued studies on vascular interventions post-COVID-19.
Regional Analysis
In 2023, North America commands the largest market share for neurointerventional devices by region and is projected to continue leading due to healthcare technology advancements, increased use of minimally invasive procedures, a growing elderly population, and a strong presence of key market players.
Nevertheless, the Asia-Pacific region is projected to show the most rapid growth in the upcoming period. This is mainly due to an increase in medical tourism and a surge in the occurrence of neurological disorders.
Leading Companies
- Balt Group
- Medtronic plc
- Cook Group Inc
- Stryker Corporation.
- Johnson & Johnson
- Lepu Medical Technology (Beijing) Co. Ltd
- Terumo Corporation
- Merit Medical Systems Inc
- Penumbra, Inc
- Integer Holdings Corporation
- Others
Segmentation Outline
The global neurointerventional devices market share is segmented based on product, indication, application, and region.
Segmentation Based on Product
- Stents
- Embolic Coils
- Catheter
- Wires
- Others
Segmentation based on Indication
- Brain Aneurysm
- Stroke
- Others
Segmentation based on Application
- Hospitals
- Ambulatory Surgical Centers
- Others
Segmentation based on Region
- North America?
o The U.S.
o Canada
- Europe?
o UK
o Germany
o France
o Italy
o Spain
o Netherlands
o Rest of Europe
- Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Singapore
o Rest Of Asia-Pacific
- LAMEA?
o Latin America
o Middle East
o Africa