Global Neurovascular Thrombectomy Devices Market Size Set to Expand at Significant CAGR of 6.88% to Reach USD 4.08 Billion by 2030

Global Neurovascular Thrombectomy Devices Market is flourishing because of growing awareness about the treatment and management of stroke, rising prevalence of stroke, and an increasing focus on improved diagnosis.

Report Ocean, a leading strategic consulting and market research firm, in its recent study, estimated the Global Neurovascular Thrombectomy Devices Market size at USD 2.17 billion in 2023. During the forecast period between 2024 and 2030, Report Ocean expects the Global Neurovascular Thrombectomy Devices Market size to expand at a CAGR of 6.88% reaching a value of USD 4.08 billion by 2030. The growing incidence of neurovascular illnesses and the expanding need for efficient treatment options are key drivers of growth for the Global Neurovascular Thrombectomy Devices Market. Furthermore, during the period in analysis, the market is expected to witness lucrative opportunities due to the expansion of research and development activities in the field of interventional neurology.

Opportunity - Rising accessibility to healthcare facilities

The Global Neurovascular Thrombectomy Devices Market is segmented into hospitals, ambulatory surgical centers, specialty clinics, and others, based on end user. The hospitals segment holds the largest market share, mainly due to the high number of patients with neovascular diseases approaching hospitals for the diagnosis and treatment of various conditions. The increasing number of hospitals, particularly in emerging economies, such as India and China, owing to healthcare infrastructure growth, is anticipated to drive the hospital segment in the Global Neurovascular Thrombectomy Devices Market during the period in analysis.

Impact of Escalating Geopolitical Tensions on Global Neurovascular Thrombectomy Devices Market

The escalating geopolitical tensions hindered the growth of Global Neurovascular Thrombectomy Devices Market. The Russia-Ukraine war, began in February 2022, abruptly put the Ukraine's healthcare sector under tremendous strain and presented unprecedented difficulties. Bombs destroyed buildings and interfered with the delivery of healthcare services. Routine preventive checkups were hindered due to the inaccessibility of healthcare professionals, which resulted in a decline in the diagnosis rate of neurovascular diseases. In Palestine, healthcare facilities have been facing a similar situation, which directly impacts the demand for neurovascular thrombectomy devices, limiting its market growth in these regions.

Global Neurovascular Thrombectomy Devices Market

Segmental Coverage

Global Neurovascular Thrombectomy Devices Market - By Indication

Based on the indication, the Global Neurovascular Thrombectomy Devices Market is segmented into ischemic stroke, hemorrhagic stroke, and others. The ischemic stroke segment accounts for the highest share in the Global Neurovascular Thrombectomy Devices Market owing to its high prevalence worldwide. According to the World Stroke Organization, ischemic strokes account for more than 62% of all stroke incidents globally. The rising focus and investments to develop advanced neurovascular thrombectomy devices is expected to provide lucrative growth opportunities to the market players.

Global Neurovascular Thrombectomy Devices Market - By Region

The in-depth research report on the Global Neurovascular Thrombectomy Devices Market covers a number of country-specific markets across five major regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa. North America dominates the Global Neurovascular Thrombectomy Devices Market. The increasing burden of neurovascular diseases, rising expenditure in healthcare, and growth in ambulatory care facilities are directly influencing the growth of the market in North America. Furthermore, favorable reimbursement policies for various neurovascular conditions also contribute to the growth of the Neurovascular Thrombectomy Devices Market in North America.

Competitive Landscape

Major players operating in the Global Neurovascular Thrombectomy Devices Market include Acandis GmbH, Penumbra, Inc., Medtronic, VESALIO, LLC, Johnson & Johnson, MicroVention, Inc., Phenox GmbH, Imperative Care, Inc., Balt Group, NeuroVasc Technologies, Inc., Baylis Medical Company, Inc., Boston Scientific Corporation, Terumo Corporation, Spectranetics Corporation, Edwards Lifesciences Corporation, Argon Medical Devices, Inc., and Teleflex Incorporated.

To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Global Neurovascular Thrombectomy Devices Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Global Neurovascular Thrombectomy Devices Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.